Repsol Now Applying Advanced Seismic Imaging Technology to Energy Exploration in Gulf of Mexico and Brazil

Repsol YPF, an international integrated oil and gas company operating in over 30 countries, today announced that the company’s advanced seismic imaging project — Kaleidoscope — has begun exploration operations in the Gulf of Mexico and Brazil. Kaleidoscope is powered by reverse-time migration (RTM), a sophisticated subsurface imaging tool whose potential is accepted by the oil industry,... 

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Rio Tinto Alcan and BIXI, a partnership on a roll

Rio Tinto Alcan will be the title sponsor of Montreal’s new BIXI self-service bicycle rental system, supplying funding for the project as well as aluminium for the construction of the bicycles. BIXI will be offered to the public as of April 2009, with 2,400 bikes available at a network of 300 stations covering central Montreal. “It’s a great way to get people out of their cars and... 

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Rio Tinto to invest additional US$300 million to advance the Kitimat Modernisation Project

Rio Tinto is to invest an additional US$300 million in the modernisation of the Kitimat aluminium smelter in British Columbia, Canada, bringing the current project funding total to over US$500 million. “The Kitimat Modernisation Project leverages two of our greatest competitive advantages – clean, self-generated hydropower and internationally renowned AP smelting technology. This investment... 

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Rio Tinto Signs Further Joint Venture Agreements with CODELCO for Copper Exploration in Chile

Rio Tinto has signed two exploration joint venture agreements with CODELCO’s 100% owned subsidiary, CCM Los Andes, in Chile. These agreements follow the first exploration joint venture agreement signed between Rio Tinto and CODELCO in January 2008. CODELCO is the world’s largest copper producer. The new properties to be explored are the Esteli and Paloma prospects in northern Chile. The Esteli... 

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Rio Tinto Announces US$652 Million Investment in Continued Pre-Feasibility Studies on Deep Porphyry Copper Deposit in Arizona

Rio Tinto has announced an investment of US$652 million (Rio Tinto share US$341 million) to support continued pre-feasibility studies on a large, tier-one copper deposit at its Resolution Copper Mining LLC (RCML) operation in Superior, Arizona. Pre-feasibility studies are expected to be completed by 2012 with production at the new mine expected to start by 2020, eventually ramping up to 500,000 tonnes... 

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ECP’s initial $30 million investment to help develop one of largest salt reserves in world

Emerging Capital Partners (ECP), an international private equity firm focused on investing across the African continent, today announced a U.S. $30 million initial investment in Salt Investment S.A. (SI). The company is a new Djibouti-based salt production and export company that will harvest, wash and export salt extracted from Lake Assal, the largest undeveloped salt reserve in the world. The investment... 

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OJSC MMC Norilsk Nickel announces regulatory clearance for the acquisition of OMG Nickel Business

OJSC Mining and Metallurgical Company Norilsk Nickel (”Norilsk Nickel”) is pleased to announce that it has received necessary regulatory clearances for the transaction with OM Group, Inc. (”OMG”) to acquire its nickel business (the ”Nickel Business”). Receipt of these approvals concludes an important step towards closing the transaction which is expected on... 

Thabex seeks funding for new mine

Thabex Exploration, a South African mining exploration company, plans to raise R450 million to finance the building of a mine in the country’s Northern Cape province. Exploration results at its Salt River base-metals project indicated the project to be “sufficiently robust” for the company to raise the funds, Thabex said in a statement to the Johannesburg Stock Exchange on Thursday.  Read More →

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Cygnus Oil and Gas adds three new board members

Cygnus Oil and Gas Corporation has announced the appointment of three new members to its Board of Directors – Mr. Ted E. Davis, Mr. Ralph D. McBride, and Mr. Alfred J. Moran. The Cygnus Board is now composed of four independent directors in addition to our Chairman and CEO. Mr. Ted E. Davis retired in 2000 after thirty-five years with Conoco, Inc. from his position as President, Exploration &...