Petrohawk Energy Corporation announced that it will reduce its 2009 capital budget by a third and reallocate spending to more heavily weight projects with the highest internal rates of return and highest potential for reserve growth, namely, development in the Haynesville and Fayetteville Shales.
The shift allows the Company to further affirm its strong capitalization. The [...]
As America’s top financial officials updated Congress on their proposed $700 billion plan to rescue the stressed financial markets, oil prices stabilized, for now, towards the $100 a barrel mark today after rising rapidly on Monday. Emerging market experts, tracking the fluctuating prices, were generally optimistic on the long-term stability of energy-heavy economies such as [...]
OAO Severstal, one of the world’s leading metals and mining companies, today announced that it has completed its acquisition of Esmark Incorporated, a manufacturer and distributor of flat rolled and other steel products. The acquisition was completed pursuant to the merger of Severstal Wheeling Acquisition Corp., a wholly-owned subsidiary of Severstal, with and into Esmark. [...]
Loreto Resources Corporation is pleased to announce that Mr. Luis Saenz has joined the Company as our CEO, President and Director effective today, July 21, 2008.
Mr. Saenz brings an extensive track record of mining industry leadership to Loreto Resources. With over 15 years of industry experience, Mr. Saenz was most recently employed at Standard Bank [...]
OAO Severstal, one of the world’s leading metals and mining companies, announced that it has extended the expiration date for its tender offer to purchase all outstanding shares of Esmark Incorporated (Nasdaq: ESMK; “Esmark”), at an offer price of $19.25 per share, to 10:00 a.m., Eastern Daylight Time, on Monday, August 4, 2008.
The tender offer [...]
State-run NTPC Ltd , India’s top power producer, is looking to buy majority stakes in Indonesian coal mines with reserves of up to 300 million tonnes to secure supplies and manage costs, its chairman said on Monday.
Another government company, Power Trading Corp , also announced plans to buy coal mines in Indonesia, following the footsteps [...]
Callon Petroleum Company has closed the acquisition of BP Exploration and Production Company’s 80% working interest in the Entrada Field for total cash consideration of $190 million. The purchase price included $150 million payable at closing and an additional $40 million payable after the achievement of certain production milestones.
The purchased interests in the Gulf of [...]
Nickel hit a new all-time intraday high for the second day in a row, reaching the psychologically significant 50,000 usd level, as inventories slid by a further 312 tonnes to 6 pct to 5,124 tonnes.
Prices have since eased to trade slightly lower, although they remain elevated, analysts said.
“The market has had this level in its [...]
Shares of Harmony Gold Mining Co. Ltd., the world’s fifth largest gold producer, more than 4 percent Friday after the company reported a decline in the quality of its gold.
The company reported that net income for the quarter ending Dec. 31 rose to 468 million South African rand ($64 million) from 24 million rand in [...]
Global equities have risen 12% since lows in June, boosted by sharp declines in crude oil prices and bond yields, as well as a resurgence in mining stocks, and the rally could further broaden out, according to the Bank Credit Analyst (BCA).
The rally, which followed a sharp correction in global markets that set in on [...]
