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Random News from Mining Top News

Australian Dollar Weakens as Prices of Gold and Copper Decline

The Australian dollar fell for a second day after a decline in the price of commodities the nation exports, including gold and copper.
The currency reacts to the price of raw materials because commodity sales account for 13.5 percent of Australia’s economy, the world’s 15th largest. Gold, of which Australia is the world’s second-biggest producer, is [...]

Fortescue iron ore shipments on track

The company said iron ore was loaded from the company’s Hunter Siding, near Cloudbreak, to Fortescue Herb Elliot port, marking the completion of the company’s first stage of wet commissioning of its new infrastructure.
“This is the first and vital step to commissioning the entire operation,” Mr Forrest said.
“It is a major step towards achieving first [...]

Russian Metals and Mining Giants Lobby for Massive Merger

Severely weakened by the economic crisis, Russia’s top metals producers are embracing a proposal to merge into one massive company. The merger, which is subject to state approval, would make the industry less vulnerable to the rapid shifts in demand that characterize economic downturn. But while the metals giants agree on the basic plan, they [...]

Tag: mining giants list, metals and mining company russia, metal mining companies mergers, worlds largest nickel miner list, metals and mining in russia

Mining project good deal or bad deal?

Prices are right for Birch Lake initiative with promise of jobs, but critics say environment will pay heavy cost
Beneath the ground at a Birch Lake mining site near Babbitt are a lot of non-ferrous minerals ”” copper, nickel, platinum, palladium, even a bit of gold.
They are minerals in demand in a mushrooming global economy. They [...]

Tag: why is mining bad, nickel mining bad for environment, why nickel mining is bad

Tenaris Acquires Control of Seamless Pipe Indonesia Jaya

Tenaris S.A., a leading global supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications announced today that it has completed the previously announced acquisition from Bakrie & Brothers TbK, Green Pipe International Limited and Cakrawala Baru of a 77.45% holding in Seamless Pipe Indonesia Jaya (“SPIJ”), an [...]

Tag: gold prospecting las cruces, tenaris or ternium or techint or paolo rocca, glencore bakrie, seamless pipe jaya

Xstrata buys into Papua New Guinea copper venture

Xstrata has exercised an option to acquire 82 percent of Highlands Pacific Ltd.’s interest in the Frieda River copper project in Papua New Guinea, Highlands said on Monday.
The company said it believed Xstrata’s involvement showed the development potential of the copper and gold deposit.
Xstrata, which would become project operator, would have to complete a [...]

Petroleum Development Oman Discovers Three New Oil Fields

Petroleum Development Oman (PDO) announces the discovery of three oil fields. One field, named Budour Northeast, is located in the Birba area of south Oman. The other two discoveries are extensions of the Ufuq and Dafiq fields, whose discovery was originally announced last year.
“These new fields will contribute to the sustainability of PDO’s oil production”, [...]

Tri-Star Holdings, Inc. Announces Acquisition of Wickenburg, AZ Mineral Rights

TRI-STAR HOLDINGS, INC. announced the company has executed definitive agreements acquiring eighty percent of the mineral rights to the Wickenburg gold placer mining claim owned by Rusty Murphy, a 25-acre placer property located on the Hassayampa River at the confluence of Fool’s Canyon about 12 miles north of Wickenburg, AZ. This is an area that [...]

Tag: placer mining wickenburg az

Sago Mine report to come Monday

Nearly a year after an underground explosion led to the deaths of 12 miners, West Virginia officials say they will release their conclusions about the Sago Mine tragedy on Monday.
Mine safety chief Ron Wooten said Tuesday that the report was not finished and declined to preview any details.
“There will be questions that may never be [...]

More coal in the country’s power future

Thailand will definitely commit to more coal-fired power plants in the future under plans outlined by electricity policymakers.
Three guidelines have been set for the national power development plan (PDP) from 2011 to 2021 and coal-fired power plants are included in all three, according to a source at the Energy Ministry.
The guidelines were prepared by [...]