Oil prices jumped close to 106 dollars on Friday as investor sentiment was driven by the weak US dollar, tight energy supplies and more bad news on the US economy, analysts said.
On Friday, New York’s main oil contract, light sweet crude for delivery in May, jumped 1.92 dollars to 105.75 dollars per barrel, after earlier […]
Japan’s Mitsui Mining and Smelting Co plans to produce 123,300 tonnes of zinc in the first half of the year ending in March 2009, up 10.9 percent from a year earlier.
The plan reflects an expected boost from Hachinohe Smelting Co, an affiliated zinc and lead smelter that had been under maintenance over the past year, […]
Uranium explorer Brinkley Mining saw its shares rise sharply as it confirmed it had received an early stage bid approach.
“The company notes the movement in its share price today and confirms that it has received an approach which might lead to an offer being made for its shares,” it said in a brief statement.
The United States’ trade deficit grew larger in January as imports - including crude-oil prices — zoomed to all-time highs.
The latest snapshot of trade activity, reported by the Commerce Department on Tuesday, showed that the country’s trade gap increased to $58.2 billion. That was up from a trade shortfall of $57.9 billion in December and […]
Monday, the media reported that the Indian Government-owned National Mineral Development Corporation Ltd., or NMDC, the largest iron ore producer and exporter in India, is negotiating with Canadian-based New Millennium Capital Corp., or NML, to develop one of the world’s largest underdeveloped low-grade magnetite iron-ore deposits project, valued at $3.5 billion or Rs.14,000-crores.
Besides developing the […]
Aricom Plc expects to significantly expand its iron ore reserves in the Russian Far East after paying $80 million to acquire two mining licences adjoining existing projects, the company said on Tuesday.
London-listed Aricom, which launched its first Russian mine last year, will pay a total $45 million in cash and $35 million in shares for […]
Norilsk Nickel has prolonged its preliminary offer to sell a one-percent stake in Polyus Gold, equaling to 1,920,826 common shares, until March 25, the Russian nickel and palladium producer’s documents state. It was announced earlier that UBS, Norilsk Nickel’s agent and financial advisor for the deal, was to receive the initial offers no later than […]
The U.S. Interior Department’s Gulf of Mexico oil and gas lease sales on Wednesday reaped a record $3.7 billion - the highest amount ever in a U.S. government lease sale - as oil prices hovered above $100 a barrel, the Minerals Management Service said.
Flush with cash from record crude prices, short on reserves replacement ratios […]
Oil and gas production in Brazil was up 2.3 percent in February over the same month the year before, the state-run oil company said Wednesday.
Petroleo Brasileiro SA announced that average daily production in February reached 2,129,420 barrels a day last month, an increase of 0.56 percent over January.
The company said it expected oil production would […]
Aluminum Corp. of China, the country’s biggest aluminum maker, said Tuesday that its net profit fell 13.7 percent in 2007 due to lower product prices.
The company, also known as Chinalco, said its 2007 net profit fell to 10.2 billion yuan ($1.4 billion) compared with net profit of 11.8 billion yuan in 2006, it said in […]