European Nickel PLC notes the positive pre-feasibility study results on the Acoje deposit in the Philippines, announced today by Rusina Mining NL. European Nickel and Rusina will now commence a definitive feasibility study (”DFS”), which is due for completion by late 2009.
European Nickel will, pursuant to the terms of the joint venture, earn a [...]
ASARCO LLC announced that it is terminating its contract with Sterlite (USA), Inc., for the sale of its operating assets. ASARCO also announced that it will draw on the $50 million letter of credit posted by Sterlite when it signed the purchase contract on May 30, 2008.
“We are taking this action in light of Sterlite’s [...]
ASARCO LLC attorneys announced today at a status conference with the U.S. Bankruptcy Court in Corpus Christi, TX that the Company’s plan sponsor, Sterlite (USA), Inc., has stated that it cannot and will not close the sale transaction under the parties’ existing purchase and sale agreement without a reduction in the $2.6 billion purchase price [...]
Gossan Resources Limited has retained Hatch of Montreal, Canada, to provide engineering process support for the Inwood Magnesium Project The agreement covers a 5-phase work program culminating with the opening of a Certificate of Authorization file with the Manitoba government for construction and environmental approvals for a production facility at Inwood, located in south-central Manitoba.
The [...]
Sherwood Copper Corporation announced that it has set November 14, 2008 as the date for a special meeting of its shareholders to vote in respect of the business combination with Capstone Mining Corp., details of which were announced on September 8, 2008. Since the date of the announcement, Sherwood’s management has had discussions with the [...]
Kerry Associates announce that it has received a signed letter of intent on behalf of W2 Energy, Inc. from Aquarian Gold Corp. to become an exclusive Joint Venture Partner in Indonesia. The letter of intent would allow Aquarian Coal to become the exclusive Joint Venture Partner in Indonesia to use this technology to produce liquid [...]
State-owned Saudi Arabian Mining Company (Maaden) yesterday launched an initial public offering to raise 9.25 billion riyals ($2.47bn) in the Middle East’s biggest mining IPO, valuing the firm at $4.9bn.
Maaden plans to sell 462.5 million of stock - equivalent to 50 per cent of its share capital - at 20 riyals each with subscriptions closing [...]
Once again, local oil and natural gas producers are left wondering as details of a decision on drilling regulations remain cloudy.
New Mexico’s three-member Oil Conservation Commission discussed the merits of more stringent drilling regulations in Santa Fe from Saturday through Friday. They worked their way through the 17-page rule that applies to the proposal, but [...]
OJSC MMC Norilsk Nickel announced that Norilsk Nickel’s proposed acquisition of control of LionOre Mining International Ltd. (Nachrichten) (”LionOre”) (Toronto Stock Exchange symbol: “LIM”; London Stock Exchange symbol: “LOR”; Botswana Stock Exchange symbol: “LIONORE”), which was notified in Norway on May 21, 2007, has been approved under the Norwegian Competition Act of 5 March 2004 [...]
Alcan announced that it has signed a Heads of Agreement with Saudi Arabian mining company Ma’aden to develop a proposed US$7-billion integrated aluminum “mine-to-metal” project including bauxite mining, alumina refining, power generation and aluminum smelting. Alcan would hold a 49-percent stake in the project and would provide technology and operating management support, with Ma’aden holding [...]
