Occidental Petroleum Corp. signed an agreement with Enerplus Resources Fund to buy a 15 percent interest in Alberta’s Joslyn Oil Sands Project for $492.1 million.
Operated by Total, the oil sands project holds over 8 billion barrels of bitumen or heavy crude. Occidental’s net recoverable reserves are estimated at 370 million barrels.
While the project is [...]
Rio Tinto lodged mining lease applications for its Bunder diamond project in India in a move it called a vital step in the development of what could be the first significant world class diamond mine in the country.
Rio Tinto announced the exploration target for diamond mineralisation at the Bunder project of 40-70 million tonnes [...]
International companies have been asked to bid for a tender to extract coal in parts of Kitui and Mwingi districts.
The Ministry of Energy asked interested firms to bid for the last phase of the exploration in the Mui basin as part of efforts to determine the commercial viability of the reserves. This comes in the [...]
Angola’s State-run diamond producing company (Endiama-Ep) will launch a tourist excursion programme into the exploration areas throughout the national territory next year, seeking to publicise the development of the industry in the country.
The information was released Thursday in Luanda by the director of Endiama’s planning and investment department, Alberto de Oliveira dos Reis Fancony.
The official [...]
The International Mining Fair of Angola (FIMA), an event that was officially opened last Wednesday here will closes this Sunday with a gala to auction a diamond whose funds will be attributed to solidarity causes.
According to the organising body, the auction will fetch over USD 100,000, so as to beat the record of the previous [...]
DIVERSIFIED and specialist chemical services group Omnia, which yesterday posted a 30% increase in headline earnings per share to 724,5c for the year ended March, said there was significant potential for its mining division to expand into Africa.
CEO Rod Humphris said: “We remain particularly bullish on prospects for coal and uranium mining as a host [...]
Hecla Mining Co. says it is selling its subsidiaries in Venezuela to Rusoro Mining Ltd. in a deal worth $25 million.
The company says Rusoro, of Vancouver, British Columbia, will pay $20 million and give up Rusoro stock worth $5 million to purchase assets including leases for the Isidora gold mine and La Camorra mining facility [...]
Cardero Resource Corp. (”Cardero” or the “Company”) (Toronto:CDU.TO)(AMEX:CDY)(Frankfurt:CR5.F) is pleased to announce that, as part of the Company’s strategy to focus on its pre-eminent Pampa De Pongo and Pampa el Toro Iron Ore deposits in the Marcona District of Peru, it has signed a letter of intent dated June 12, 2008 (”LOI”) with Ethos Capital [...]
Goldman Sachs upgraded the oilfield services sector to “Attractive” from “Neutral,” predicting strong profit growth due to greater drilling activity and high oil prices.
Analyst Charles Minervino expects earnings to grow in the double digits through 2011 as high oil prices lead to more rapid rig construction, and both drilling activity and the rates oil companies [...]
Silver Dragon Resources Inc. announced today that the Company has duly paid the state compensation tax (royalty) for the privatization of the Erbahuo silver mine pursuant to applicable Chinese laws. The payment of RMB 4,468,600 (approx. US$650,000) was made to the local provincial department of China’s Ministry of Land and Resources, the agency responsible for [...]
