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Random News from Mining Top News

NY gold loses most in 15 years

Gold futures plummeted 7.3 percent on Tuesday, the biggest fall in more than 15 years, closing below $600 an ounce on heavy selling due to a stronger dollar, soft oil price and concerns over interest rate hikes.
Silver dropped 13 percent and fell below $10 an ounce as speculative liquidation pummeled the precious and base metals, [...]

Essar bets big on drilling

The Essar group may invest $400-600 million over the next few years to gain a sizeable presence in both land and offshore drilling services.
Essar Oilfields Services Ltd, the unlisted subsidiary of Essar Shipping and Logistics, will oversee the group’s efforts in this direction. Sources said Essar Oilfields is planning to have a ”diversified and [...]

Tag: essar drilling

Kinross Now Owns 90.7% of Aurelian Shares

Kinross Gold Corporation announced today that it has taken up and paid for an additional 15,165,279 common shares of Aurelian Resources Inc. following the extension of Kinross’ previously announced offer to acquire all of the issued and outstanding common shares of Aurelian, dated July 28, 2008, since the initial expiry date of September 3, 2008, [...]

Fiji troops take over Australian mine

Armed Fijian troops have taken over a failed gold mine owned by an Australian-listed company after some 1,600 local workers were sacked.
Emperor Mines, which owns the Vatukoula mine in Fiji’s west, said armed troops arrived at the site over the weekend, demanding keys and access to critical infrastructure.
The mine – previously Fiji’s largest private employer [...]

More Rigs on the Job

The number of rigs actively exploring for oil and gas in the U.S. this week rose by 15 from the week before.
Of the 1,901 working rigs, 1,504 explore for gas, 389 for oil and eight are labeled “miscellaneous.”
There are 68 rigs in the Gulf of Mexico.
At this time last year, 1,773 rigs were operating.
In Canada, [...]

Mining employment slips

The average number of mining and natural resources jobs in Fairbanks dropped 14 percent in the first quarter of 2007 after five consecutive years of first quarter growth, according to figures from the U.S. Bureau of Labor Statistics.
While preliminary figures show a recovery in the second quarter of 2007, the dip provides a glimpse of [...]

Tag: employment at pogo mine alaska, fort knox gold mine employment ak, fort knox ak jobs, fort knox mine fairbanks alaska jobs, lisbon valley mine employment

Mitsui Mining plans 11 pct rise in H1 zinc output

Japan’s Mitsui Mining and Smelting Co plans to produce 123,300 tonnes of zinc in the first half of the year ending in March 2009, up 10.9 percent from a year earlier.
The plan reflects an expected boost from Hachinohe Smelting Co, an affiliated zinc and lead smelter that had been under maintenance over the past year, [...]

Arch Coal impresses lawmakers

West Virginia lawmakers said they were impressed with a $300 million coal mine and processing facility they toured in Logan County Sunday. They praised the Arch Coal Inc. plant for being state-of-the-art, safe and efficient.
That investment, however, comes at a cost for the environment and some residents, critics say.
Arch officials told lawmakers that this facility [...]

Tag: logan county mining coal companies

Gentor Announces Inferred Mineral Resource Estimate of 5.7 Million Tons Grading 0.15% Moly at its IMA Project in Idaho

GENTOR RESOURCES, INC. announce that the Company has established an Inferred Mineral Resource estimate at its IMA Mine project in Idaho of 5.7 million tons grading 0.15% Mo. Included in this estimate is 720,000 tons of material grading greater than 0.20% Mo and averaging 0.235% Molybdenum.
Wardrop Engineering Inc. estimated the mineral resource using Gemcom Vers [...]

Solar Shares Drop, Following Oil and Gas Prices Lower

Shares of solar power companies including Solarworld AG and Q-Cells AG slumped as falling prices for natural gas and crude oil reduced incentives to invest in alternative energy companies.
Solarworld stock lost 2.31 euros, or 5.7 percent, to 38.34 euros. Competitor Q-Cells AG fell 3.8 percent and Conergy AG dropped 2 percent.
Oil and gas have fallen [...]