The participation of almost 1,100 on-site and online bidders from 61 countries helped keep prices strong at the unreserved public auction conducted by Ritchie Bros. Auctioneers in Moerdijk, the Netherlands last week. The three-day auction generated gross auction proceeds in excess of (euro)45 million (US$57 million). Out-of-country buyers purchased close to (euro)36 million (US$46 million) [...]

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 [...]

NuStar Energy L.P. announced record net income applicable to limited partners of $141.5 million, or $2.60 per unit, for the third quarter of 2008, almost three times higher than the $45.4 million, or $0.97 per unit, earned in the third quarter of 2007. The third quarter 2008 results represent the highest quarterly earnings in the [...]

Cirrus Energy Corporation announce that its wholly owned subsidiary, Cirrus Energy Nederland B.V., has successfully drilled the Q14-3 exploration well to a total true vertical depth (”tvd”) of 3020 metres sub-sea. Partners in the well are EBN B.V. (40%) and TAQA Offshore B.V. (”TAQA”) (30%) with Cirrus (operator) retaining a 30% interest subsequent to a [...]

Technip has been awarded by Sibur Neftehim (a Sibur Moscow Holding subsidiary) a lumpsum engineering and procurement contract, worth approximately €45 million, to expand an ethylene plant in Kstovo, Russia.
Technip’s operating center in Zoetermeer, The Netherlands, will execute the contract, which follows the basic engineering contract already carried out by Technip. It covers detailed engineering, [...]

Buyers from outside the Netherlands purchased 80 percent of the equipment in the most recent Ritchie Bros. auction in Moerdijk, representing (euro)35 million (US$51 million) of the (euro)44 million auction (US$64 million). The unreserved public auction of heavy equipment and trucks attracted more than 1,100 on-site and online bidders from 59 countries. Almost 3,700 used [...]

Geovic Mining Corp. announced the appointment of Conrad B. Houser to the position of Senior Vice President, as well as President of Geovic Energy Co., a wholly-owned subsidiary.
Mr. Houser has more than 25 years experience in international mining activities, including project management, strategic planning, finance, administration, mine design, environmental permitting, compliance, and marketing. Additionally, as [...]

Technip and its subsidiary Angoflex Ltda. have been awarded two new major frame agreements by BP Exploration Ltd. for oilfield developments in Angola, covering:
* engineering, procurement and manufacture of flexible pipe,
* engineering, procurement and manufacture of umbilicals(1) and associated equipment.
These frame agreements are part of BP’s [...]

Technip announces that its wholly-owned subsidiary Duco Ltd. has been awarded by BP Norge AS a lumpsum EPC(1) contract, worth approximately € 20 million, for the Skarv field development. This field is located on the Norwegian continental shelf, in water depths ranging from 350 to 450 meters.
The contract covers engineering, procurement, project management services and [...]

TOR Minerals International, Inc. secured a waiver for non-compliance with certain covenants set forth in its US Credit Facility with Bank of America on August 14, 2008. As previously disclosed, as of June 30, 2008, the company was in technical violation of certain coverage ratios in its long-term credit facility.
Pursuant to one of the provisions [...]