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Random News from Mining Top News

Oil prices ease in Asian trade

World oil prices eased further on Tuesday, trading near 123 dollars a barrel as profit taking helped to cool a red-hot market, analysts said.
Crude oil prices have more than doubled in the past year and rocketed about 25 percent since the start of 2008, when they broke the 100-dollar barrier.
“Oil prices have simply risen too [...]

Railroads struggle to meet coal demand

The nation’s two largest railroads have hauled record amounts of coal from the mines in northeast Wyoming and southeast Montana this year, but Union Pacific Corp. and Burlington Northern Santa Fe Corp. still struggle to keep up with utility demand and existing contracts.
If utilities run low on coal during the high demand of winter, they [...]

Tag: what role did the railroads play in changing the demand

Paramount Gold and Silver Corp. Enters Into Strategic Alliance with Mexoro Minerals Ltd. in Mexico

Paramount Gold and Silver Corp. is pleased to announce that it has signed a Letter of Intent to enter into a strategic alliance with Mexoro Minerals Ltd. The strategic alliance contemplates both companies combining their mining and exploration expertise including resources such as management, personnel, exploration equipment and mining concessions to maximize shareholder value [...]

Arch Coal buys into DKRW, plans $25M investment

Arch Coal Inc. said Thursday it agreed to invest $25 million in DKRW Advanced Fuels LLC as part of a deal in which it acquired a 25 percent equity interest in the company.
Arch said in a release that in exchange for the equity interest, it also agreed to extend its existing option agreement with DKRW [...]

Harvest Gold Exploration Update, Rosebud Mine, Nevada

Harvest Gold Corporation is pleased to announce that it has begun its exploration program at the Rosebud Mine Project. The Company has reviewed much of the available data and reports from previous operators of the property, and has hired a geologist with previous experience at Rosebud to compile this information. The compilation and review [...]

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ASARCO LLC Wins Liability Phase of Fraudulent Transfer Trial against Grupo Mexico

On August 30, U.S. District Judge Andrew Hanen of Brownsville, Texas issued a 190-page opinion holding that Americas Mining Corporation (AMC), a subsidiary of Grupo Mexico S.A. de C.V., had perpetrated a fraudulent transfer to itself of ASARCO LLC’s controlling interest in Southern Peru Copper Corporation (SPCC). The judge ruled that “AMC closed the SPCC [...]

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EUNN: Alberta Oil Sees Boon in Bloated Gas Supplies

Canada’s National Energy Board (NEB) warned yesterday that Canada’s natural gas production may be forced to grind to a screeching halt late this summer as storage fields bulge to capacity and consumption drops. In Alberta, which relies on 3/5ths of its energy royalties coming from natural gas production it was anything but good news, though [...]

Fronteer Establishes 51%-49% Joint Venture at Its Majority-Owned Long Canyon Gold Project

Fronteer Development Group Inc. announce it has elected to continue as majority owner (51%) and manager of Long Canyon through a participating joint venture with AuEx Ventures Inc. (“AuEx”) (49%). Fronteer has elected to not earn an additional 14% by sole funding the project through to completion of a feasibility study.
Fronteer and AuEx will share [...]

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Whittier Energy Agrees to $145M Takeover

Oil and gas company Whittier Energy Corp. said Friday it agreed to be acquired by U.K.-based Sterling Energy PLC for $11 per share, or about $145 million, confirming an earlier report.
Sterling will also assume approximately $43 million of the company’s net liabilities, Whittier added.
Both companies’ boards have approved the deal unanimously. It is expected to [...]

High Court Rejects Attempt to Block BP Deal

The U.S. Supreme Court rejected an attempt by victims of a deadly refinery explosion to block a plea deal between BP PLC and prosecutors.
The Supreme Court’s action means a federal judge in Houston can now decide whether to give final approval to the much criticized plea deal, which settles criminal conduct by the London-based oil [...]