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Random News from Mining Top News

Oil Search sells Middle East assets

Oil Search Ltd has sold a package of its Middle Eastern assets for $US200 million ($A216.01 million) to focus on the development of a liquefied natural gas project in Papua New Guinea.
The oil and gas producer, PNG’s largest, has sold eight assets across Egypt and Yemen to private outfit, Kuwait Energy Company KSC.
“The sale of [...]

Shell to slash oil reserve figures for 2007

Anglo-Dutch oil giant Shell is to cut its reserve figures for 2007, taking about 1.3 billion barrels off its books or the equivalent of nearly one year’s production, The Observer said Sunday.
The weekly newspaper said the company would announce the writedown of at least 200 million barrels off the estimates for its operations in [...]

Xinfa’s Australian investment hunts more bauxite

Cape Alumina Pty Ltd., part owned by Chinese aluminium group Chiping Xinfa Huayu Alumina Co Ltd., has gained approval to look further afield for bauxite in Australia, underscoring China’s hunger for the raw aluminium-making material outside its borders.
Cape Alumina is prospecting in Australia’s bauxite-rich Cape York region, where world No.2 miner Rio Tinto Ltd./Plc. also [...]

Tag: xinfa group australia pty ltd, australia bauxite china, china xinfa group corp pty ltd, australia bauxite mining, mining investment billions bauxite

Brazil’s CVRD wins Canada’s Inco to create top world nickel miner

Brazilian mining giant CVRD said it had won control of Canadian group Inco, creating the world’s second-biggest mining concern and the biggest nickel miner in a 15.8-billion-dollar deal.
The announcement appeared to seal CVRD’s bid for Inco and came as big mining companies seek fresh supplies in a global contest over precious metals.
Companhia Vale do Rio [...]

U.S. Energy Corp. Announces Initial Production Results From Their Stoddard #1 Well in Texas

U.S. Energy Corp. a natural resources exploration and development company with interests in molybdenum, oil and gas, and real estate assets, today announced that its partner, Houston Energy, L.P. (“HE”) has advised the company that an initial production test from the Stoddard #1 well (first well drilled with HE) in Southeast Texas resulted in approximately [...]

Tag: oiltanking loc us

Zimbabwe holds 16,000 over mining

The three-week-long campaign targeted settlements around the mining fields and seized large quantities of gold and diamonds, state media said.
During the raids, police officers burnt temporary homes used by panners.
Tens of thousands have turned to mining following the collapse of commercial agriculture, correspondents say.
People dig or pan for gold or diamonds, risking their lives in [...]

Venezuela to export 500,000 barrels of oil to China per day

Visiting Venezuelan President Hugo Chavez said that Venezula will ratchet up oil exports to China over the next three years, testimony to a “very significant step forward” in energy cooperation. “Venezuela and China have made remarkable progress in the field of energy cooperation.
Venezuela’s oil exports to China will reach 500,000 barrels per day by 2009 [...]

Petrosearch Energy to Present at OGIS Conference

Petrosearch Energy Corporation announced today it is scheduled to present at the Independent Petroleum Association of America, Oil & Gas Investment Symposium in Boca Raton, Florida on Thursday, February 8, 2007 at 10:35 am. President and CEO Richard Dole will be presenting a corporate overview to investors.
The conference is being held at the Boca Raton [...]

Samarco Mineracao S.A. Implements Meridium for Asset Performance Management Solution

Meridium Inc., the global leader in asset performance management software and consulting solutions, announced that Samarco Mineracao S.A has implemented Meridium software to ensure the stability of its operations and industrial processes with practices that reconcile the best possible availability, with a guarantee of high reliability.
Founded in 1977, Samarco is a pioneer in the processing [...]

Tag: transocean arctic solutions, transocean rigs for refurbishment

Australia’s Newcrest Mining posts 160% jump in annual profit

Australia’s largest gold miner Newcrest Mining Ltd (ASX:NCM) has posted a big jump in annual profit, boosted by
the $A225 million ($US170.16 million) sale of a stake in the developing Boddington project.
The after tax profit from the sale of $218.2 million took Newcrest’s full year result to $349.5 million, up 160 per cent on 2004/05’s result [...]