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Random News from Mining Top News

Precision Drilling Trust Clarifies Position on Offer for Grey Wolf, Inc.

In response to inquiries, Precision Drilling Trust (“Precision”) clarified today for its unitholders that it will immediately re-approach the board of directors of Grey Wolf, Inc. (“Grey Wolf”) with its June 24, 2008 US$10.00 per share proposal if the merger agreement with Basic Energy Services, Inc. (“Basic”) is terminated.
Precision will await the outcome of [...]

Petrobras Shares Rise on Split, Discovery Rumors

Shares of Brazil’s state-run oil company Petrobras had a good run Tuesday after shareholders approved a 2-1 split for its Brazil-traded shares, as well as its American Depositary Receipts (ADRs), effective April 25.
Petrobras shares in New York rose $5.40, or 5.5 percent, to $103 in afternoon trading.

Tag: petrobras mining

Coal owner has less-than-clean history

ROUNDUP, Mont. — Success has for years lurked just around the corner for John Baugues Jr., a coal mining entrepreneur who arrived here in 1995 after starting and folding a string of mines in his native Tennessee.
Taking control that year of Bull Mountain Land Co., which has an estimated 340 million tons of coal [...]

Tag: john demichiei, airlie mine career, john baugues jr worth, john baugues coal mining, bull mountain coal mine john baugues

Stillwater Mining Reopens Montana Mine

Stillwater Mining Co. said late Thursday it will resume operations at its East Boulder mine in Montana Friday now that fire officials have granted public access to roads in the area of the mine.
The mine was shut from Wednesday evening to Thursday after a wildfire spread through the area. The mine facilities themselves were not [...]

Miners protest at German plans to shut down coal mines

More than 10,000 German miners halted work in protest at government plans to shut down German coal mines by 2018 and calls by the regional premier of North Rhine-Westphalia state, where most of the mines are situated, for an even earlier phase-out date.
Thousands of miners and other employees of the RAG industrial conglomerate, which operates [...]

Brazil’s Petros Pension Fund Bets on Mining, Steel, Agriculture

Ricardo Malavazi, investment director of Fundacao Petrobras de Seguridade Social, Brazil’s second- largest pension fund, said mining, steel and agriculture stocks remain attractive in the medium and long-term.
“These sectors are very competitive and will likely remain so in the next ten years,” Malavazi said in an interview in Sao Paulo.
The pension fund for Petroleo Brasileiro [...]

Western Canadian Coal Receives 2.0 Mtpa Mine Permit for Brule Mine

Western Canadian Coal Corp. is pleased to announce that it has received the Mine Permit from the British Columbia Ministry of Energy, Mines and Petroleum Resources to allow for production of up to 2.0 million tonnes per annum of ultra low volatile pulverized coal injection (“ULV-PCI”) coal at the Brule Mine. The Company [...]

Tag: brule iron ore mine, burnt river coal brule

Minterra Investigates Restructure Options

Minterra Resources Corp. announces that as a result of current market conditions the Company has been unable to complete the current private placement. As a result the Company is currently in the process of investigating options for restructuring. Further information to follow as it becomes available.
Contacts:
[...]

Tag: minterra resources, denby minterra

CMS Energy, Peabody Team on Coal Plant

Michigan-based utility holding company CMS Energy Corp. is teaming up with coal company Peabody Energy Corp. in developing a $2.5 billion, 1,600-megawatt power plant and a nearby coal mine in southern Illinois, both companies announced Wednesday.
Under terms of the deal, CMS Enterprises, a CMS Energy subsidiary, and St. Louis-based Peabody — the world’s largest private [...]

Tag: peabody lively grove mine, lively grove il power plant, prairie state energy campus project, prairie state energy campus address, prairie state energy lively grove

Occidental Petroleum Corporation Announces Second Quarter Earnings of $857 Million, Chemicals Segment Earnings at $250 Million

Occidental Petroleum Corporation announced income from continuing operations was $2.77 per diluted share for the second quarter 2006, compared with $3.63 per diluted share for the second quarter 2005. Net income for the second quarter 2006 was $857 million ($1.97 per diluted share), compared with $1.536 billion ($3.77 per diluted share) for the second quarter [...]