Mines and Geology is one of the many portfolios that Karnataka Chief Minister H D Kumaraswamy is in charge of. As he battles bribery allegations over illegal iron ore mining in Bellary, there’s another form of mining that’s flourishing illegally in the state.
Sand mining has resulted in ecological degradation and despite several checks it continues [...]

Newmont Mining Corp. on Thursday said higher gold and copper prices drove up second-quarter profit, despite lower sales volumes.
Analysts in a Thomson Financial poll expected earnings of 47 cents per share and sales of $1.37 billion.
Q2 2006 versus 2005
Net income: $161M/$50M
Sales: $1.31B/$997M
EPS: 36 cents/11 cents
Ticker/exchange: HET/NYSE
Market cap: $22.68B
Yesterday’s close: $50.53, down $2.50 (4.71 percent).
52-week range: [...]

New Frontier Energy, Inc. (OTCBB: NFEI), a natural resource exploration and production company, engaged in the exploration, acquisition and development of oil and gas properties in the United States, today announced that it acquired 15% working interest in approximately 15,000 acres in Route County Colorado. The acreage includes all rights from the surface of the [...]

The Beaconsfield Gold Mine’s owner is seeking expressions of interest for shares or assets of the company.
But the mine’s majority owner, Allstate Explorations, has stressed the offers are non-binding.
The other part-owner of the Beaconsfield Joint Venture, Beaconsfield Gold has expressed interest in buying Allstate’s stake in the mine.
The mine was closed after a rock fall [...]

The Mosaic Company announced today that Mosaic Fertilizer, LLC, a wholly-owned subsidiary of The Mosaic Company, has signed a 15-year ammonia offtake agreement with Faustina Hydrogen Products LLC, an affiliate of US Syngas LLC (USS). The term of the ammonia offtake commences upon startup of a petroleum coke (Nachrichten/Aktienkurs) gasification project to be constructed adjacent [...]

Virgin Metals Inc. (”Virgin Metals”) (VGM TSX-V) announces that drilling is under way at its 100% controlled Los Verdes project in Sonora State, northern Mexico. The objective of the drill program is to replicate drilling carried out some thirty five years ago by a joint venture of Cominco Ltd and Industriales Penoles. That drilling led [...]

Roca Mines Inc. (TSX VENTURE:ROK; “Roca” or the “Company”) announces that it has signed an offtake agreement with U.K.-based Derek Raphael & Company Ltd. (”DRC”) for molybdenum concentrates produced at the Company’s MAX Molybdenum Mine at Trout Lake, British Columbia. DRC’s North American representative is W. G. Cook Ltd.
DRC was founded in 1974 and has [...]

Catalyst Metals Ltd has debuted on the Australian Stock Exchange (ASX) at a 37.5 per cent premium to its issue price, as it prepares to explore its West Australian molybdenum project.
The Perth-based molybdenum explorer hit the boards on Wednesday at 27.5 cents - a 7.5 cent premium to its 20 cent issue price - and [...]

Phelps Dodge Corp. , the world’s No. 2 copper producer, said on Wednesday it expects molybdenum inventories to remain below normal levels and the price to remain above average for the rest of 2006.
Arthur Miele, senior vice president of sales and marketing, said he was forecasting third-quarter molybdenum oxide prices of $24 a lb or [...]

Oil and gas refining and marketing firm Singapore Petroleum Co. Ltd. (SPC) posted a 33.5 percent jump in second-quarter net profit on Wednesday but warned that demand for refined products may soften.
The company said it would shut a cracker complex for maintenance from September to October, resulting in a drop in its refinery’s throughput.
SPC, 49-percent [...]