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Random News from Mining Top News

Royal Energy Resources, Inc. Announces Drilling of Third Well in Northern Oklahoma

Royal Energy Resources, Inc. announced that a third well is near completion in northern Oklahoma. The well, when drilled, showed both oil and natural gas pockets which could both potentially be developed.
Jacob Roth, CEO of Royal Energy Resources, Inc., stated, “This marks our third investment in the northern Oklahoma area. All three wells showed both [...]

Majescor Outlines Two Significant Uranium-Bearing Outcrop Zones Within 30 km-Long Prospective Corridor at South Rae, Nunavik, Quebec

Majescor Resources Inc. is pleased to report that detailed ground radiometric surveying within the 30 km-long prospective corridor identified in 2007 on the South Rae property, under option from Azimut Exploration Inc. (“Azimut”) (CDNX:AZM.V), has outlined two uranium-bearing outcropping zones greater than 4 km long by up to 400 m wide. At the Qairajutait [...]

Petro-Canada Releases Updated Cost Information for the Fort Hills Project

Petro-Canada, the operator and a 60% owner of the Fort Hills Project (Project), along with its Partners in the Fort Hills Energy Limited Partnership, said today that the preliminary results of the Front-End Engineering and Design (FEED) work suggests that estimated costs for the Fort Hills Project have risen considerably. The Project, as currently conceived, [...]

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Nuclear and coal seen in energy strategy

The government is expected this week to open the way to new nuclear power stations when it spells out how it will keep the lights burning at the same time as trying to meet its international obligations to tackle global warming.
But while backing big power in the shape of nuclear and so-called clean coal, the [...]

Hecla Reduces Bridge Loan to $40 Million, Extends Final Maturity Date

Hecla Mining Companyb announced it has repaid $200 million of the $240 million bridge loan used to acquire the remaining 70.27% of the Greens Creek joint venture. The loan agreement has been amended to extend the maturity date for the remainder of the bridge loan to February 16, 2009, subject to conditions set forth in [...]

Goldcorp Has the Right to Match Competing Proposal to Acquire Canplats Resources

Goldcorp Inc. announced that it has received a notice from Canplats Resources Corporation that Minera Penmont S. de R.L. de C.V. (“Penmont”) has made a proposal to acquire all of the issued and outstanding shares of Canplats (the “Penmont Proposal”) for cash consideration of $4.20 per share plus shares of a newly-formed company which will [...]

Gold miner Croesus goes into liquidation

Troubled gold miner Croesus Mining NL has gone into administration after failing to restructure its finances and meet its hedging debts.
The company had been working for several months to restructure its operations and finances.
However, in a statement to the Australian Stock Exchange (ASX) administrators Bryan Hughes and Vincent Smith of Pitcher Partners said they were [...]

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Mexivada reports New Alluvial Gold Discovery at Mourindjoka, ROC Congo

Mexivada’s Chief Geologist in the ROC Congo, Dr. Noel Watha-Ndoudy, has reported the discovery of a new area of alluvial gold mineralization near Mourindjoka in the ROC Congo. Mexivada’s prospecting permits and gold and diamond concessions cover the bulk of the auriferous Mayoko greenstone belt in the ROC Congo. Mexivada has previously reported discoveries [...]

Oil-starved Zimbabwe slashes fuel prices but worries remain

Oil-starved Zimbabwe has slashed fuel prices for private motorists by almost half but experts said the move could lead to further shortages and fail to snuff out a flourishing black market.
“Government and the oil industry have with immediate effect fixed the price of diesel at 320 Zimbabwe dollars (1.28 US dollars) and that of petrol [...]

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Foundation Coal Announces Idling of the Laurel Creek Mining Complex

Foundation Coal Holdings, Inc. said that the Laurel Creek mining complex operated by Foundation Coal affiliates will be idled effective immediately. The Laurel Creek complex, which produced approximately 1 million clean tons of coal in 2008, consists of three active underground mines and an associated preparation plant. The decision to idle the Laurel Creek complex [...]

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