Omega Commercial Finance Signs Definitive Agreement to Acquire Peruvian Gold Mine

Omega Commercial Finance Corporation announce that it has signed a Definitive Agreement to acquire from Ruby Trust Mining Company SAC (RTM), a mining operation located in the mountain village of Cusco, Peru. As previously announced, Omega is currently looking to diversify its interests with the gold commodities market by finding undervalued and underdeveloped mines with proven and probable reserves.... 

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NEC sells 30% of shares in Norse Energy do Brasil

Norse Energy Corp. ASA has sold 30% of the shares in the previously wholly-owned subsidiary Norse Energy do Brasil for a cash consideration of USD 30 million. The buyer is Sector Speculare (Private Equity) IV, a fund managed by Sector Omega ASA. Funds managed by Sector are also the largest shareholder in Norse Energy Corp. ASA. The transaction values Norse Energy do Brasil at enterprise value USD 210... 

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World Oil Awards Winners Announced

World Oil® magazine announced the thirteen winners of the 2008 World Oil Awards at the seventh annual black-tie gala dinner last night in Houston, Texas. The event, attended by close to 350 industry leaders, benefited two universities that offer programs leading to careers in the petroleum industry. Frank Springett of National Oilwell Varco won the inaugural Next Generation Committee Award for his... 

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Chronology of mine safety legislation

_Jan. 2 Sago Mine explosion results in 12 deaths _Jan. 9 West Virginia Gov. Joe Manchin appoints former federal Mine Safety and Health Administration director J. Davitt McAteer to conduct special Sago investigation. New Mexico conducts unscheduled inspection of its only underground mine on orders by Gov. Bill Richardson. _Jan. 19 Two miners die in fire at Aracoma Alma No. 1 Mine in Logan County. _Jan.... 

Australian firm plans to open uranium mine in Zambia

An Australian mining firm is planning to open a uranium mine in Zambia’s Southern province, Zambia News and Information Services reported Wednesday. The Australian mining company has expressed interest in opening up a uranium mine in Siavonga with an investment of 60 million U.S. dollars. Omega Corporation limited managing director Mattew Yates said uranium deposits have so far been detected... 

Significant uranium found in Zambia

Significant uranium resources have been found in Kariba, Southern province of Zambia, according to the Creamer Media’s Mining Weekly. It quoted Omega, a mineral exploration company, as saying that the company has found uranium resources estimated at about 13 million pounds. Omega managing director Mathew Yates told the Africa-Dawn Under conference held in Perth, Australia that “we currently... 

Cause of Sago Mine Blast Still Eludes Investigators

With less than three weeks to go before he is to report on the Sago Mine disaster, West Virginia’s lead investigator said he may not be able to identify what triggered the Jan. 2 explosion that killed 12 miners. “Are we going to have the conclusions as to what caused this accident? I don’t know,” J. Davitt McAteer said at a mine-safety forum in Charleston this week. “It...