Davao Oriental mining causes row among lumads

The multi-billion dollar mining project in Mati City has caused rift not only between the mining companies involved in the project but also among indigenous people living in the area. Mandaya tribal group chieftain Rufino Mapinogos, said in an interview at his residence in Barangay Macambol, that there are some lumads who oppose the mining project in the area. They call the lumads “outsiders”... 

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Indonesia denies reports of possible coal export quotas

Indonesia has denied that it will set a quota for coal exports as it wants to reserve the coal for future use. The reports had prompted rising interest in the country’s natural resources from energy-hungry China and India. The reports were baseless and the new mining law likely to be passed by Parliament by June would in fact provide more certainty for mining companies, said Simon Sembiring,... 

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Xstrata in talks to buy Macarthur Coal

Xstrata has jumped back into the global merger frenzy. It emerged yesterday that the miner is the mystery bidder that forced Macarthur Coal, Australia’s largest independent coal producer, to announce 10 days ago that it had been approached about a possible takeover. Macarthur and its top two shareholders, who it admitted had also been approached, have kept silent about the identity of its suitor... 

Coal Surge Seen by Mobius as China’s Imports

Coal is poised to rebound from a two-year slump as China buys more than it exports for the first time in history. Power use in China, the world’s biggest coal producer, is rising 13 percent annually, and utilities are building plants at a record pace. The nation gets 78 percent of its electricity from coal, spurring imports from Australia, Indonesia and Vietnam. “The coal sector in China... 

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Gabonese hope for windfall as Chinese develop iron ore deposit

BELINGA, Gabon: The pygmies of Gabon’s lush northeast equatorial forests may soon be learning Chinese. Buried deep in thick jungle in the least populated corner of the oil-producing central African state is one of the world’s biggest untapped reserves of iron ore, waiting to be developed. But the country selected by Gabon to help exploit the huge Belinga iron ore deposit is not former colonial... 

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Roughnecks Get Maids as Shell, Exxon Battle Oil Worker Shortage

Donnie Lewis says he’d quit the coldest, dirtiest job he’s ever known — drilling in Canada’s oil-rich bogs for Suncor Energy Inc. — if it wasn’t for the free private room, maid service and five-course meals. “I wouldn’t do it if I had to share a room with six other fellows, all snoring and making a racket when you’re trying to get a few winks,”... 

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Gold Falls, Heading for Weekly Drop on Speculator, Mining Sales

Gold fell, heading for the first weekly drop since early January, on selling by commodity speculators who had helped drive prices to a six-month high two days ago. Mining companies were also sellers. Speculators sold gold when prices climbed to a 26-year high of $730.40 an ounce in May, U.S. government figures show. They probably bought more bullion overnight, on top of holdings that were already the... 

Martial law hobbles Guinea bauxite sector

Martial law in Guinea has forced the world’s biggest bauxite exporter, Compagnie des Bauxites de Guinee (CBG), to halt mining activities and deliveries of ore to the Kamsar port, company officials said on Wednesday. Guinea, which holds a third of the world’s bauxite reserves, has been gripped by a wave of violent protests against President Lansana Conte’s 23-year rule in which at... 

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U.K. Stocks Rise, Led by Xstrata, BG Group on Commodity Prices

U.K. stocks climbed, led by mining companies as base metals climbed in London. Antofagasta Plc and Xstrata Plc paced the advance. Cairn Energy Plc and BG Group Plc rose as oil prices rebounded from a 19-month low. Amvescap Plc climbed after Citigroup Inc. raised its price estimate for the company’s shares. The benchmark FTSE 100 Index rallied 29.10, or 0.5 percent, to 6233.60 in London at 9:13... 

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IMICON 2007 to Spur Mining Expansion in Nigeria

The nation’s mining sector is on the threshold of a major expansion, as the 2nd International Mining Investment Conference and Exhibition on Nigeria (IMICON 2007) will take place from February 13 to 15 2007, at the Transcorp Hilton Hotel, Abuja. The forum, described as the biggest annual mining event in the country, is being organised by Abuja based Mineral Watch Consults Ltd. Following the maiden... 

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