Archive for June, 2006

Oxus serves arbitration notice in Kyrgyz gold spat

British miner Oxus Gold Plc. said on Friday it had served a notice of arbitration on the government of Kyrgyzstan in a dispute over development of the Central Asian country’s second-largest gold mine.
Oxus said in a statement it was still in discussions with the Kyrgyz government in an attempt to reinstate a licence to mine […]

June 30th, 2006 - Posted in Mining News, Precious metal

Coal River event

A popular but dangerous spot near Upper Falls on the Coal River will be the launching point for an organized canoe cruise down the waterway Saturday, but Kanawha County officials say safety concerns won’t be an issue.
An estimated 100 canoes, kayaks and rafts will leave the area below Meadowood Park in Tornado for the Tour […]

June 30th, 2006 - Posted in Coal, Mining News

China Increases Electricity Prices to Counter Rising Coal Costs

China, the world’s biggest energy user after the U.S., raised power prices for households and companies today to counter rising coal costs that are eroding earnings at the nation’s electricity generators.
Prices increased by an average of 0.025 yuan per kilowatt-hour, the National Development and Reform Commission, the nation’s top economic planner, said in a statement […]

June 30th, 2006 - Posted in Coal, Mining News

Hargreaves looks to coal for growth

KING coal is making a comeback as dwindling oil and gas supplies make investors nervous.
The Royal Bank of Scotland has provided working capital to support Hargreaves Services in its new joint venture with UK Coal – Coal 4 Energy.
Coal 4 Energy will allow both companies to provide the domestic and light commercial sector with coal […]

June 30th, 2006 - Posted in Coal, Mining News

Georgia auctioning biggest coal deposit

Georgia’s Environmental Protection and Natural Resources Ministry called an auction for the rights to the country’s biggest hard coal deposit, Tkibuli-Shaori.
The auction will offer a 30-year license at a starting price of 100,000 lari ($55,000), a source in the ministry’s tender commission told Interfax. […]

June 30th, 2006 - Posted in Coal, Mining News

SAIL, NINL to jointly bid for coal mines in Australia

In view of the increasing demand for coking coal, public sector behemoth SAIL will bid for coal mines in Australia jointly with Nilachal Ispat Nigam Limited (NINL) soon, Steel Minister Ram Vilas Paswan said today.
“SAIL and NINL would jointly bid for coal mines in Australia while in Canada and USA both these companies would bid […]

June 30th, 2006 - Posted in Coal, Mining News

LionOre Mining International Ltd.: Project 5 Million at Tati Nickel Completed Ahead of Schedule and Within Budget

LionOre Mining International Ltd. (”LionOre”)(TSX: LIM)(LSE: LOR)(ASX: LIM)(BSE: LIONORE) is pleased to announce the successful completion of Project 5 Million’s construction and commissioning phases, within budget and ahead of schedule, at Tati Nickel in Botswana.
Project 5 Million (see press release dated September 14, 2005) is a low capital cost expansion program designed to increase […]

June 30th, 2006 - Posted in Mining News, Mining Stocks

Govt to look for new partner on Socuy coal mining project - Venezuela

Venezuela’s government plans to look for a new partner to create a joint venture to development the Socuy coal-mining project in the Mara area of Zulia state.
“Socuy is one of the concessions that is not currently producing, so we need to open a range of options for companies interested in entering a JV,” José Ramón […]

June 30th, 2006 - Posted in Coal, Mining News

Katanga Commemorates Possession Of Kamoto Mining Assets

Katanga Mining Limited (TSX: KAT) (”Katanga” “Company”) announced that an official signing ceremony was held on June 27, 2006, at the Kamoto mine site in the Democratic Republic of Congo (”DRC”), to commemorate the formation of the Kamoto joint venture and transfer of the Kamoto mining assets from La Generale des Carrieres et des Mines […]

June 30th, 2006 - Posted in Mining News, Mining Stocks

New mining policy on cards to lure investment

India is formulating a new mining policy aimed at attracting foreign investment of Rs.1 trillion ($21.5 billion) and creating 500,000 jobs by 2011, a central minister said Thursday.
“The government intends to come out with a new policy because the existing mining policy of 1993 has become old and contains stringent provisions that restrict investors to […]

June 30th, 2006 - Posted in Mining News