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Random News from Mining Top News

Progress Energy Florida Seeks Fuel Surchage Increase

Progress Energy, Inc. (PGN) utility Progress Energy Florida asked state regulators Friday to approve an increase in its fuel surcharge to reflect rises in fuel costs and environmental compliance costs.
If the surcharge is approved, residential electric bills would rise by $161.4 million, or about 3.4% per 1,000 kilowatt-hours in 2007, the utility said.
“The same pressures [...]

Drilling begins on 10,000th well in UK sector of North Sea

A MAJOR milestone in the history of the UK’s offshore oil and gas industry was reached yesterday as drilling began on the 10,000th well in the seabed off Britain’s coast.
The landmark well was announced by CDA Ltd, the oil and gas data management services subsidiary of the UK Offshore Operators Association which monitors the wells [...]

Palisades Petroleum Corporation: Drilling Contract Signed

Palisades Petroleum Corporation is pleased to announce that the operator of the North Buffalo and Highwood Property, Cline Production Company of Billings Montana, USA has signed a drilling company to drill two shallow gas wells in North West Montana.
Cline Production Company, the operator of Palisades North Buffalo and Highwood Properties, executed a contract in mid-September [...]

Callon Petroleum Completes Acquisition of Stake in Entrada Field

Callon Petroleum Company has closed the acquisition of BP Exploration and Production Company’s 80% working interest in the Entrada Field for total cash consideration of $190 million. The purchase price included $150 million payable at closing and an additional $40 million payable after the achievement of certain production milestones.
The purchased interests in the Gulf of [...]

Tiomin halts titanium mining in Kenya over land disputes

Canadian mineral exploration firm Tiomin Resources said it had halted a massive titanium mining operation in Kenya over land issues and access to the site.
In a statement, the company said a disagreement over land had spawned delays, causing costs to rise, forcing the project’s lenders to withdraw a 155 million dollar (120 million euro) debt [...]

Caterpillar Aligns to Better Serve Customers and Focus Accountability

To strengthen its world-class product and service offerings, Caterpillar Inc. is aligning its machine product and marketing organizations to sharpen customer focus, position the company to achieve its 2010 and Vision 2020 goals and build deep expertise in product development.
“We are well-positioned for long-term success,” said Caterpillar Chairman and CEO Jim Owens. “And Team Caterpillar [...]

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Arianne Starts Drilling on Massicotte/Detour Lake

Arianne Resources Inc. announce that drilling is starting on the Massicotte/Detour Lake, Abitibi, Quebec. This property is under option from Radisson Mining Resources. The Massicotte property is adjacent to Detour Gold Corporation’s (Detour Gold) property, for which it announced measured and indicated resources of more than 10.76 million ounces of gold (press release of July [...]

Asian Stocks Drop to Five-Week Low; BHP, Nippon Mining Decline

Asian stocks fell to a five-week low, led by BHP Billiton, Nippon Mining Holdings Inc. and PetroChina CO., on concern copper and crude oil will extend declines amid signs of cooling demand in the U.S., Japan and China.
“The outlook for global growth still doesn’t bode well for commodities demand,” said Angus Gluskie, who helps manage [...]

Vault Minerals acquires the Gauthier Property in the Kirkland Lake Gold Camp

VAULT MINERALS INC announces the recent acquisition of the Gauthier Property in the Kirkland Lake gold camp, Ontario.
The property, comprising eighty-eight staked mining claims totaling approximately 1,400 ha, is situated about three km north of the past-producing Upper Canada gold mine (1.4M oz) in northern Gauthier Township.
The claim group covers 5.3 km of strike extent [...]

Orbit Garant Drilling Awarded Major Contract by Newmont Mining

Orbit Garant Drilling Inc. announced that it has entered into a major contract with Newmont Mining Corporation to provide diamond core drilling services at their Boston project in Nunavut.
Under terms of the contract, Orbit Garant expects to complete specialized core drilling over a three-year period at the Hope Bay Project. The Company will utilize [...]

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