Ritchie Bros. Auctioneers, the world’s largest auctioneer of industrial equipment, attracted thousands of bidders to seven unreserved public auctions in four countries last week - including its first ever auction in Poland. The successful multi-million dollar equipment auction in Katowice, Poland on November 14, 2008 attracted hundreds of on-site and online bidders from 26 countries. [...]

Freeport-McMoRan Copper & Gold Inc. announced in response to the recent sharp decline in molybdenum prices plans to reduce production from its Henderson primary molybdenum mine and to defer the restart of the Climax molybdenum mine.
Molybdenum markets have been strong in recent years, averaging $30 per pound in 2007 and $33 per pound in the [...]

LAI International, Inc., strategic supplier of precision components and sub-assemblies for original equipment manufacturers has announced it has secured contract awards for manufacturing precision components used for oil and gas exploration.
LAI uses advanced processes to manufacture a series of flex couplings, which incorporate an interlocking design in four-feet-long alloy steel pipe, used to steer down-hole [...]

Ted Drummond, Kingsman’s Chief Operating Officer, is pleased to announce the appointment of Boyd Hardwicke, P.Eng., a graduate of the University of British Columbia, Vancouver, B.C. in 1955, as a consultant to the Board of Directors.
As a student, Mr. Hardwicke worked at Granby’s Copper Mountain mine at Princeton. He became Chief Engineer at the Granby [...]

General Mining Properties Ltd. announce that it has closed its previously announced non-brokered private placement. The Corporation issued securities comprising 500,000 equity units at a price of $0.25 per Unit. Each Unit is comprised of one common share of the Corporation and one common share purchase warrant, each Warrant entitling the holder thereof to acquire [...]

Passport Metals Inc. has entered into a mineral option agreement with Southwest Exploration Inc., a private Arizona incorporated company, to acquire a 100 per cent interest in 13 State Leases, comprising 8,413.3 acres (3,404.76 ha). The properties to be designated the “Holbrook Holdings” are located in Navajo County, covering portions of the prospective “Holbrook Basin”. [...]

Santa Fe Gold Corp, a U.S.-based mining and exploration enterprise focused on gold, silver, copper and industrial minerals, today reported that construction is on track at its Summit mine and processing facilities in southwestern New Mexico and that processing of silver-gold ore is anticipated to begin the first quarter of 2009. In February 2008, the [...]

The Timken Company is helping Oracle Packaging Co. reduce repair costs by providing a service that enables the damage-free removal and reuse of caster roll shells.
Oracle uses caster rolls and shells at its light-gauge converter foil production facility in Winston-Salem, N.C. Unexpected failures in a caster core, which houses the chilled water passages that keep [...]

Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer, conducted two large unreserved public auctions in Houston, TX and Phoenix, AZ last week, with gross auction proceeds of more than US$23 million and close to US$35 million, respectively. Almost 2,000 bidders participated in the Houston auction and more than 1,600 took part in the Phoenix auction; [...]

Seadrill is pleased to report the delivery of the ultra-deepwater drillship West Polaris from Samsung Heavy Industries. The drillship will leave Korean waters tomorrow after completing fuelling and some general mobilisation activities en route to its first drilling assignment for Exxon in Brazil. West Polaris was delivered 10 days after original contract schedule with a [...]