Firm Advises Sonangol in $7 Billion Natural Gas Transaction

The global law firm of Thompson & Knight has assisted Sonangol, the state-owned oil company of Angola, in a transaction for one of the world’s largest integrated natural gas projects. Under terms of the deal, Sonangol’s Sonagas unit and Chevron Corp., together with their European partners Total SA, BP PLC, and Eni SpA, have agreed to invest more than $7 billion in a new liquefied natural gas... 

Ameron Reports Solid Earnings Despite Difficult Market Conditions

Ameron International Corporation reported net income of $15.0 million, or $1.63 per diluted share, in the third quarter ended August 31, 2008, compared to $21.1 million, or $2.32 per diluted share, in the third quarter ended August 26, 2007. Sales in the third quarter of 2008 totaled $170.1 million, compared to sales of $165.0 million in the third quarter of 2007. Net income in the third quarter of... 

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Alcoa Sends Letter to Alcan Board Outlining Commitments to Quebec; Will Meet Requirements of Agreement between Alcan and Quebec Government

Alcoa Inc. announced that it has reviewed Alcan’s continuity agreement with the Government of Quebec which identifies the requirements that Alcoa must meet regarding Alcan’s future operations in the Province in order to maintain certain of Alcan’s hydroelectric and water rights. In a letter to Alcan’s Board of Directors, Alcoa outlined the many ways in which its offer to acquire... 

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Coal Surge Seen by Mobius as China’s Imports

Coal is poised to rebound from a two-year slump as China buys more than it exports for the first time in history. Power use in China, the world’s biggest coal producer, is rising 13 percent annually, and utilities are building plants at a record pace. The nation gets 78 percent of its electricity from coal, spurring imports from Australia, Indonesia and Vietnam. “The coal sector in China... 

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Global Alumina announces joint venture negotiation progress

Global Alumina Corporation announced that its board of directors will meet within this week to approve the establishment of a joint venture among an affiliate of BHP Billiton, Dubai Aluminium Company Limited (“DUBAL”), Mubadala Development Company PJSC (“Mubadala”) and the Company to develop and operate the Company’s alumina refinery project in the Republic of Guinea.... 

Global Alumina Announces Joint Venture Agreements in Process of Finalization

Global Alumina Corporation announced that the Company has been informed that the proposed joint venture with an affiliate of BHP Billiton, Dubai Aluminium Company Limited (“DUBAL”) and Mubadala Development Company PJSC (“Mubadala”) to develop and operate the Company’s alumina refinery project in the Republic of Guinea has received board approvals from two joint venture... 

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Most Asian Markets Rally as Nikkei Hits 10-Month High and India, Australia Reach Records

Most Asian markets rose Friday, with Japanese stocks climbing to their highest in nearly 10 months and markets in India, Singapore and Australia all rose to records. Malaysian shares finished at a new 10-year high. Stocks rose in Tokyo amid optimism about growth prospects for the U.S. economy, a key export market. The benchmark Nikkei 225 index climbed 27.61 points, or 0.16 percent, to wrap up the... 

Vattenfall AB, Alcan Inc., Duke Energy Corporation, International Emissions Trading Association (IETA) promoting evolution of global carbon trading

Vattenfall AB, Alcan Inc., Duke Energy Corporation and the International Emissions Trading Association (IETA) will work with other leading industries and financial institutions to accelerate the evolution of carbon trading as one of the key components to addressing climate change. This cooperation was announced today at a press conference at the World Economic Forum’s annual meeting, where the... 

Heady Chinese growth burnishes nickel and copper

Copper rose steeply Thursday and nickel reached another record high after China, the world’s largest consumer of industrial metals, said that its economy expanded at the fastest pace in 11 years. Gross domestic product in China expanded 10.4 per cent in the fourth quarter from a year earlier, the National Bureau of Statistics said. The economy grew 10.7 per cent in 2006. “This is supporting... 

Caterpillar Net Rises on Machinery Sales Overseas

Caterpillar Inc., the world’s largest maker of earthmoving equipment, said fourth-quarter profit rose 4.3 percent on increased demand for machinery overseas. Net income climbed to $882 million, or $1.32 a share, from $846 million, or $1.20, a year earlier. Sales gained 14 percent to $11 billion, the Peoria, Illinois-based company said today in a statement. Demand from the Middle East, Latin America...