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Random News from Mining Top News

China to spend $3 bln on Gabon iron ore project

A Chinese consortium, headed by state-owned China National Machinery & Equipment Import & Export Corp., will invest $3 billion to develop a large iron ore mine in Gabon Republic, company officials said on Tuesday.
The consortium, including state-owned Export-Import Bank of China, won the sole rights in June to exploit untapped iron ore reserves in the [...]

Lundin steps up Galmoy drilling activity

Lundin Mining today said that drilling activity in the vicinity of its Galmoy lead-zinc mine in Co Kilkenny increased during the last quarter of 2006 and the first quarter of this year.
The company said six drill rigs are now working in the Galmoy block of licenses, with five of them in the vicinity of [...]

Drilling results at Iran Farsi Oil Block promising

Drilling at offshore Farsi Block, southern Iran, is promising good results, Hossein Roshandel, the director for exploration at the National Iranian Oil Company (NIOC) said, MNA reported.
”Three wells have been so far drilled at the block, indicating the existence of oil in the area,” he told the Petroenergy Information Network (PIN).
He added that the [...]

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The Prokhorov bounce: Norilsk Nickel and Polyus Gold prices recover

Mikhail Prokhorov returned to his office at Norilsk Nickel headquarters on Monday, his spokesman proclaiming that his four-day detention by the French police on suspicion of pimping was a “regrettable misunderstanding”.
While that may very well be the case for the French, what Russian rivals of Prokhorov will now understand about the scandal could be regrettable [...]

Tag: fox river norilsk, prokhorov norilsk, norilsk nickel market cap, buyout price for pure nickel, sudbury rivals norilsk

Sonterra Resources, Inc on its New Contract Operating Agreement

Sonterra Resources, Inc and South Texas Oil Company, Sonterra Resources, with South Texas acting as contract operator, has spudded and is currently drilling below 5,000 feet total vertical depth (TVD) in the ST 127 Unit Well No. l under the new contract operating agreement. This well is the initial well in the Sydney/150 Deep Prospect [...]

Tag: donald vandenberg houston texas, sonterra operating inc, donald sebastian houston

PetroSun Acquires 985,000 Acres of Oil and Gas Mineral Rights in New Mexico and Arizona

PetroSun Drilling, Incorporated announced that the company has entered into a lease agreement with NZ Oil and Gas, LLC that contains 985,000 acres of oil and gas mineral rights in New Mexico and Arizona. The leasehold includes prospective acreage in the San Juan Basin of New Mexico and the Holbrook Basin of Arizona that was [...]

Kronos Worldwide, Inc. Announces a Price Increase for All Titanium Dioxide Products Sold in North America

Kronos Worldwide, Inc. today announced a price increase for all titanium dioxide grades sold in North America.
Effective September 3, 2008, prices for all Kronos titanium dioxide grades sold in North America will be increased by US$ 0.08 per pound.
This is a new price increase announcement and is in addition to price increases and surcharges announced [...]

Victory Nickel Acquires Additional Common Shares of Independent Nickel

Victory Nickel Inc. announced today that pursuant to its offer (the “Offer”) to acquire all of the outstanding common shares (the “Independent Shares”) of Independent Nickel Corp. (“Independent”) (Toronto:INI.TO) on the basis of 1.1 of a Victory Nickel share for each Independent Share, pursuant to its offer to purchase and takeover bid circular dated August [...]

Parker Drilling 3Q Net Income Rises, Helped by Better Dayrates, Higher Tool Rental Sales

Parker Drilling Co., a provider of contract drilling and related services to oil and gas companies, said Wednesday third-quarter earnings grew 3 percent, helped by better dayrates at some rigs and higher revenue from tool rental.
Quarterly net income rose to $18.6 million, or 17 cents per share, compared with a profit of $18.1 million, or [...]

Saxon Oil Receives New Field Designation in New Mexico

Saxon Oil Company Ltd. has received a new field designation from New Mexico regulatory authorities for its Eumont State No. 1 oil discovery in Lea County, New Mexico. New Mexico designated the Eumont well as the discovery well in the Urssey Tank: Yates-Seven Rivers Pool. Special pool rules are in effect from the date of [...]

Tag: lea county new mexico oil production, important designation of oil and gas industry, lea county new mexico oil news, saxon oil news