Petro America Backs Shares With Gold Mine Interest
Petro America Corp (PTRZ) announced that it will adopt a gold standard from its Gold Mine acquisition interest to create greater share value for its shares. With the consistently high prices of Gold, this is an excellent way to hedge and maintain share value. The company is preparing to file the necessary financial information with the SEC, and is excited about its gold mine acquisition interest and...
Cleveland-Cliffs and Alpha Natural Resources to Merge, Creating Cliffs Natural Resources, a Leading Diversified Mining and Natural Resources Company
Cleveland-Cliffs Inc and Alpha Natural Resources, Inc. announced that each company’s Board of Directors has approved a definitive merger agreement under which Cleveland-Cliffs will acquire all outstanding shares of Alpha in a cash and stock transaction valued at approximately $10 billion. Under the terms of the agreement, for each share of Alpha common stock, Alpha stockholders would receive 0.95...
L&T to make world’s biggest coal gasifier plant
Construction major Larsen & Toubro Ltd. (L & T) has bagged a contract worth 28 million euros ($ 44.13 million or Rs.1.70 billion) from China, the world’s largest and heaviest coal gasifier plant. The Hebi Coal and Electricity Ltd., a subsidiary of Zhong Yuan Coal Chemical Industry Group’s mission. Information of the Bombay Stock Exchange (BSE), an official communiquã© published...
Goldcorp Receives Penasquito Construction and Operating Permits
GOLDCORP INC. announced that it has received all permits required for full mine and mill construction and operation of its Penasquito project in Zacatecas, Mexico. Penasquito mine is projected to be the largest mine in Mexico when full production is achieved. Current reserves represent seventeen years of gold, silver and zinc production. The approvals granted include the primary project MIA (Manifestacion...
GE paying $1.9 billion for a drilling supplier
General Electric agreed Monday to buy a drilling equipment maker, Vetco Gray, for $1.9 billion as dwindling oil and gas reserves prompt energy companies to increase their investment in opening new fields. GE will gain 5,000 employees in more than 30 countries by acquiring Vetco from 3i Group, JPMorgan Partners and Candover Investments. The acquisition will also increase sales at the GE oil and gas...
Franklin Electric sale of Bluffton plant, 2nd ethanol project top stories of 2006
From major economic development announcements and projects in terms of two ethanol plants to the nearly completed expansion of the Wells County Library and state accolades to Norwell students, Wells County experienced good times in 2006. From the untimely and tragic deaths of several Wells County residents to the closing of an Ossian manufacturing plant that idled workers, Wells County also has experienced...
Search for Coal Fuels Fresh Hope for Vast Deposits
Kenya’s hopes of becoming a coal producer are much higher after exploratory drilling in two districts yielded encouraging results. According to Government geologists carrying out studies in the Mui basin in Kitui and Mwingi districts, coal, which is currently imported, has been found at a depth of 11 metres. On site: Workers and part of the machinery, including a towering rig, used in exploratory...
Latest Mining News
Philex Gold Receives Interim Order for Transaction With Philex Mining Corporation
Philex Gold Inc. announced that it has obtained an interim order from the Ontario Superior...
American Mining Corporation Signs LOI to Form Production Joint Venture on Terra Gold Project, Alaska
American Mining Corporation announce that it has signed a binding letter of intent to enter...
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