Homeland Energy to Reacquire Full Ownership of South African Subsidiary

Homeland Energy Group Ltd., announces that GMR of India has elected not to exercise the third of three options to purchase 40% of Homeland Mining & Energy, South Africa for US$135 million. Homeland intends to repurchase GMR’s current 10% ownership in accordance with the terms of the option agreement, a value of US$30 million. With this repurchase, Homeland Energy Group Ltd. retains 100%... 

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Homeland Energy to Purchase US-Based Appolo Fuels and Diversified Energy for US$105-Million

Homeland Energy Group Ltd., Appolo Fuels and Diversified Energy are pleased to announce that they have finalised a binding agreement for Homeland Energy to purchase the operating assets of Appolo Fuels, Inc., owner and operator of the Appolo coal mine and Diversified Energy, Inc., the associated coal marketing firm, of Middlesboro, Kentucky and Knoxville, Tennessee, respectively. The total purchase... 

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Homeland Energy Group’s Kendal Mine Produces First Coal

Homeland Energy Group Ltd. is pleased to announce first coal production from its Kendal Mine in the Witbank area of South Africa, approximately 50km east of Johannesburg. To date, approximately 8,000 tonnes of coal has been mined from the first of three open pit areas. Processing of the coal through the Company’s Parnaby wash plant on site should begin this week. Following additional pre-stripping... 

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Gold mining returns to Arctic as Miramar prepares Doris North site

Gold is returning to the North as Miramar Mining (TSX:MAE) readies a site along Canada’s Arctic coast for the first new gold mine development in a generation. “It’s a great opportunity to see it coming back,” said Larry Connell, Miramar’s environmental manager. Crews are now quarrying rock near the Vancouver-based company’s Doris North deposit in Nunavut and at the... 

TXU lobbying Congress on coal-plant plan

TXU Corp., facing a string of global-warming bills, is ramping up efforts to lobby the new Congress over its controversial plans to build coal-fired power plants across Texas. Dallas-based TXU has been betting that lawmakers wouldn’t enact environmental legislation penalizing the company for the 11 plants it wants to build. But Democratic leaders in Congress have already stepped forward to criticize... 

MSHA pressed to hire mine inspectors

Despite the inclusion of $25.6 million for more coal mine inspectors in an emergency spending bill signed by President Bush a month ago, nothing has happened on hiring yet. That’s according to Sen. Robert Byrd, D-W.Va., who put the money in the bill. Responding to the Jan. 2 Sago Mine disaster in West Virginia that killed 12 miners and the May 20 Kentucky Darby Mine No. 1 disaster that killed... 

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