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Random News from Mining Top News

NGM Resources to Explore for Nickel in Madagascar

NGM Resources has announced that it has signed an agreement with BHP Billiton, to acquire four nickel exploration projects, amounting to over 5,000sqkm of prospective tenements in Madagascar. The company has also announced that it is awaiting the results of recent drilling of a significant geophysical anomaly at Analalava. Finally, NGM has announced that it [...]

CEO of Russia’s TNK-BP Questioned in Tax Case

The American chief executive of Russian oil producer TNK-BP was called in for questioning as part of a criminal investigation into possible large-scale tax evasion, according to the company.
The pressure on Robert Dudley comes as the company’s Russian shareholders battle British oil major BP PLC for control of the joint venture, Russia’s third-largest oil producer.
TNK-BP [...]

Chile copper workers await Billiton offer

Workers at Chile’s Cerro Colorado copper mine, owned by global miner BHP Billiton, expect to receive a final wage and contract offer from the company next week after talks that saw more progress in some areas than in others.
A union director also told Reuters the 556-member union would vote on the offer on or shortly [...]

Refining Stocks Rise as Deutsche Bank Upgrades

Refining stocks rose as investors took a fresh look at the sector after a Deutsche Bank analyst raised his rating on Holly Corp. and Tesoro Corp.
Analyst Paul Sankey hiked his ratings on Holly and Tesoro to “Hold” from “Sell.” He upgraded the stocks because they were relatively cheap, not because of any major change by [...]

Coastal Petroleum announces drilling results and planned new wells

Coastal Petroleum Company will discontinue completion efforts at both the Evaline twin well and the Listou (Blaine County) well in Montana.
The Evaline twin well was drilled into the Lodgepole Reef that was targeted and encountered oil, but not in sufficient quantities for the Company to earn its interest under the Farmin Agreement (the “Agreement”) with [...]

Nickel price jumps as copper spikes higher

Nickel futures rose 6.6 percent on Friday to touch $26,000 a tonne, supported by sharp gains in copper as threats to the supply of both metals lifted prices. At 1500 GMT nickel was quoted at $25,950/26,250 versus $24,400 at Thursday’s London Metal Exchange (LME) close. Nickel hit a record $26,850 in July. Copper earlier spiked [...]

Oil Company Eni Strikes Oil With Wildcat Well at Goliat Field in the Barents Sea Off Norway

Italian oil company Eni SpA struck a column of oil with a wildcat exploration well drilled at its Goliat discovery in the Barents Sea in the Norwegian Arctic, the Norwegian Petroleum Directorate announced Tuesday.
The Norwegian branch of Italy’s largest oil company discovered the Goliat field with a well drilled last year about 85 kilometers (50 [...]

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Cotton & Western Mining, Inc. Stock Dividend Distribution Completed

Cotton & Western Mining, Inc., a global iron ore mining company, announced today that the distribution of the previously announced restricted stock dividend has been completed. The Company has finalized the transition to its new transfer agent, Standard Registrar & Transfer of Draper, UT, and all dividend certificates have been issued.
At a meeting held by [...]

Refiners Shares Drop on High Prices, Flagging Demand

Shares of oil refiners fell, as concern grew among analysts and investors that high gasoline pump prices are putting a big crimp in fuel demand.
In a note to investors, Lehman Brothers analyst Paul Cheng cited fresh data from the Department of Energy and the Federal Highway Administration as further evidence to support his bearish view [...]

South African Mining Company Buying a Major Gold Reserve

The South African mining company Gold Fields said Monday that it would acquire a 50 percent stake in the South Deep mine in South Africa from Barrick Gold of Toronto in a deal worth more than $1.5 billion.
In addition, Gold Fields said it intended to make an offer for the rest of the mining company [...]