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Random News from Mining Top News

Nevada Gold Holdings Inc. Engages Rimrock Drilling as Drilling Contractor

Nevada Gold Holdings, Inc., a mineral exploration company focused on identifying and developing large-scale gold deposits in Nevada, is pleased to announce that the Company has entered into a drilling commitment with Rimrock Drilling Co., Elko, NV, to drill four of its ten sites that have been selected for the initial drilling program on the [...]

Tag: rimrock drilling elko nevada, rimrock drilling elko, rimrock drilling co, nevada inc mining, rim rock drilling

Uranium mining leads to jump in claims

Metal mining claims on federal lands in the West have increased almost 50 percent in the past four years, in large part because a resurgence in nuclear power has led to a renewed interest in uranium exploration.
An advocacy and research organization said Thursday its review of Bureau of Land Management records found that the number [...]

Citigroup Settling Enron Claims

Citigroup Inc. agreed to pay $1.66 billion to creditors of Enron Corp. who lost money when the energy trader collapsed in 2001.
Citigroup was the last remaining defendant in what was known as the “Mega Claims” lawsuit, filed in 2003 against 11 banks and brokerages. The filer, Enron Creditors Recovery Corp., alleged that with the help [...]

Arch Coal Shares Fall on Warm Weather

Shares of Arch Coal Inc. continued falling Thursday after a Morgan Stanley analyst took the coal producer off a list of preferred stocks, saying warm weather spells trouble for coal prices.
Morgan Stanley analyst Henry H. McVey struck Arch Coal from the Focus List.
“We are increasingly concerned that high inventories and warm weather will prove to [...]

One up, one down at Ontario Nanticoke coal plant

One of Ontario Power Generation’s 490-megawatt units at the Nanticoke coal-fired power station in Ontario shut for short-term work by early Tuesday, while another unit returned to service, the Independent Electricity System Operator said in a report.
Unit 4 returned to service, while Unit 5 shut.
The 3,920 MW Nanticoke station, which entered service between 1972 and [...]

Australia Energy Consumption To Rise Nearly 50% In 25 Yrs

Australia’s domestic energy consumption is expected to rise nearly 50% from 2004-05 levels over the next 25 years, a government forecaster said Thursday.
The Australian Bureau of Agricultural and Resource Economics forecast growth in Australian energy consumption to moderate from earlier growth trends, averaging 1.6% a year to 2030.
ABARE’s national and state projections 2029-30 report said [...]

Tag: energy consumption mining

TGC Industries Announces Plans to Purchase Additional Seismic Recording Channels

TGC Industries, Inc. announced that it will purchase an additional 4,000 channels of ARAM ARIES seismic recording equipment to be delivered by August 1, 2008. These additional recording channels will enhance the capacity of the Company’s eight seismic crews currently operating in the field, bringing the total available recording channels to approximately 47,000.
Wayne Whitener, President [...]

GWR Arranges up to $700,000 Flow-Through Financing With MineralFields Group

GWR Resources Inc. announce a non-brokered private placement in the amount of up to $700,000 with the MineralFields Group pursuant to which GWR proposes to issue an aggregate of up to 5,833,334 units. The Private Placement is subject to the approval by TSX Venture Exchange.
Each unit will be priced at $0.12 and will consist of [...]

Tag: gwr mining, financing

South Africa: Promising Signs for New Mine Near Rustenburg

Toronto-listed platinum explorer Platinum Group Metals (PTM) would proceed to a bankable feasibility study this year on a new $328m-$355m platinum mine near Rustenburg, said president and CEO Michael Jones yesterday.
The partners in the Western Bushveld Joint Venture (WBJV) are PTM with a 37% stake, Anglo Platinum (Angloplat) with 37% and Africa Wide with 26%.
Jones [...]

Pump Demand Still Down From Last Year

Gasoline demand at the pump last week was down 2.7 percent from a year ago, according to a survey by MasterCard SpendingPulse.
The average national retail price for a gallon of regular gasoline rose 3 cents and is 35.7 percent higher than one year ago. Gas prices are up $1.01 since the beginning of the year.
“The [...]