Mechel Obtains Credit Lines From VTB Bank

Mechel OAO, one of the leading Russian mining and metals companies, announces that VTB Bank has provided the Company with credit lines in the amount of 15 billion rubles (approximately US$560 million). VTB Bank has opened one-year credit lines totaling 15 billion rubles for Yakutugol OJSHC, Southern Kuzbass Coal Company OAO and CMK OAO, subsidiaries of Mechel. The credit facilities will be used to... 

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Adventure Gold Begins 2,500 Metre Drill Program on Beaufor North and Senore

Adventure Gold Inc., a mining exploration company with strategic properties in the Val d’Or region of Quebec, is pleased to announce the start of an eight-hole drill program totalling 2,500 metres on the Beaufor North and Senore properties. These properties are adjacent to the producing Beaufor Gold Mine operated jointly by Richmont Mines and Louvem Mines. This drill program will test the near... 

Fortress Financial Group, Inc. – Potential Sale of Hunt Gold Corporation Stock

Fortress Financial Group, Inc. confirms that it is in advanced discussions to dispose of its 483,000,000 “free trading” shares of Hunt Gold Corporation Common Stock, with the Private Equity Group currently bidding for control of Hunt Gold Corporation with another unrelated party. Should the Company obtain a price of US$0.03 per share for these shares, that being the current bid price for... 

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Fortress Financial Group, Inc. Acquired Additional Shares of Hunt Gold Corporation Common Stock

Fortress Financial Group, Inc. announced on July 29, 2008 that we have stated very clearly that we are seriously contemplating further purchases of Hunt Gold Corporation’s stock, at what we view as “bargain basement prices,” in the market thereby increasing our Company’s “free trading” stockholding in Hunt Gold Corporation. We have made it extremely clear that we... 

CONSOL Energy and Synthesis Energy Systems Announce Funding of Front-End Engineering Design Package for West Virginia Coal Gasification Project

CONSOL Energy Inc., the nation’s largest producer of bituminous coal, and Synthesis Energy Systems Inc., a global industrial gasification company, intend to develop through a joint venture their first U.S. coal gasification and liquefaction plant to be located in West Virginia. CONSOL (through its subsidiary Terra Firma Company) and SES have formed Northern Appalachia Fuel LLC (“NAF”),... 

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India: Coal ministry plans more mining projects

The coal ministry is preparing plans for new projects which will be submitted to the Cabinet in a month, according to Union minister of state for coal Santosh Bagrodia. Talking to mediapersons here, Bagrodia said though several projects were in the pipeline, the ministry was working on more projects to make the country self-sufficient in coal. He said efforts were being made to ensure that coal imports... 

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Zinifex wins control of Allegiance Mining

ZINIFEX Ltd has prevailed with its $790 million, three-month takeover battle for Allegiance Mining NL, announcing it has gained control of the nickel miner. Lead and zinc miner Zinifex, which was born from the ashes of the failed Pasminco Ltd, said it had increased its stake in Allegiance to 51.1 per cent from 44.78 per cent previously. Zinifex is to further diversify its production base through its... 

Philippine: RP, China ‘Spratlys deal’ may affect tuna industry

The country’s tuna industry, which is centered in this city, would be adversely affected should Chinese companies be allowed to conduct offshore mining ventures in the disputed Spratly Islands, a nationwide militant fisherfolk group said. Fernando L. Hicap, chairperson of the Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya), said the alleged secret deal between the Philippines... 

BP, Rio Tinto Venture to Develop Clean Coal Energy

BP Plc and Rio Tinto Plc formed a joint venture, Hydrogen Energy, to develop technology for producing power from coal, oil and natural gas without emitting the gases blamed for global warming. Rio will pay $32 million to BP to form the equally owned venture, which includes two planned BP hydrogen-fuel projects in Scotland and California that will cost at least $1 billion each. “Projects such... 

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LME nickel hits new high, copper falls

Nickel hit a new high on the London Metal Exchange on Wednesday but drifted lower later in the day, along with other base metals on profit-taking ahead of today’s U.S. Federal Reserve meeting, traders and analysts said. Nickel for delivery in three months, which has risen by some 53 percent this year, touched a new all-time high of $51,800 on Wednesday. “The consistent uptrend in nickel... 

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