Global Mining News in real time

Electrohydraulic system enables control of multiple wells through single cable

Cables and cabling systems company Nexans, in May, launched its next generation electro-hydraulic SUTA-FLEX subsea umbilical termination assembly system, which enables the control of multiple wells through a single umbilical cable. The solution, launched at the Offshore Technology Conference... 

Market glut and low prices prompt Labrador Iron Mines to file for creditor protection

By: Henry Lazenby Under pressure from spiralling iron-ore prices and a global supply glut, seasonal miner Labrador Iron Mines (LIM) on Thursday obtained an initial order from the Ontario Superior Court of Justice under the Companies’ Creditors Arrangement Act (CCAA) that would protect the firm from its creditors.... 

CMP Products opens new office in Johannesburg, South Africa to serve the African market

CMP Products, a division of British Engines Limited, a company registered in England, is expanding its international footprint. The company has established a branch in Johannesburg, South Africa to serve the African market. This branch provides additional support to the Company’s global network... 

Ucore Rare Metals secures rights to novel REE separation technology

By: Henry Lazenby Alaska-focused rare earths project developer Ucore Rare Metals on Tuesday showed off the first high-purity dysprosium concentrate ever produced in the US, with US-sourced feedstock. The company also announced that it had secured the rights to a new minerals separation technology that had... 

Global supply glut, low prices force LIM to stare down bankruptcy filing

By: Henry Lazenby The collapse of iron-ore pricing since the start of 2014 is making life difficult for smaller producers, as the major miners pushed out more of the steelmaking ingredient to leverage economies of scale in the low-price environment. As a result of the down market, Eastern Canada-focused miner... 

Anadarko raises output target, says Q3 profit up on asset sales

By: Henry Lazenby US independent oil and gas company Anadarko Petroleum Corp on Tuesday reported a sharply higher profit for the quarter ended September 30, owing to higher output at its Wattenberg field in Colorado and asset sale proceeds. Oil and gas companies, including Anadarko, have been selling assets with... 

US coal exports continue to decline on lower EU demand, supply glut

By: Henry Lazenby In the first half this year, US coal exports continued to decline from their record volumes in 2012, as lower European demand for steam coal and increased steam coal supplies from Australia and Indonesia, coupled with added metallurgical coal supplies from Australia, Canada and Russia, wiped out... 

LIM focused on development this year as it rides out low-price market

By: Henry Lazenby Seasonal iron-ore miner Labrador Iron Mines (LIM) this week said in the face of a 30% drop in 62% iron-content iron-ore prices from January to June, it had not started mining operations this summer season, opting instead to focus on development activities. The company, which owns a portfolio of... 

Moz to start exporting coal through Nacala by December

By: Keith Campbell The Mozambican Ministry of Transport and Communications has reaffirmed that the country will start exporting coal from the Tete basin through the port of Nacala by December. This was made clear at the 32nd meeting of the Ministry’s Coordinating Council, which was held in Tete.  

BC First Nations to profit from Imperial Metals’ Huckleberry expansion

By: Henry Lazenby New revenue-sharing agreements will enable four First Nations in the Bulkley-Nechako area of British Columbia to benefit from the expansion of TSX-listed Imperial Metals’ Huckleberry copper mine. Economic and community development agreements (ECDAs) would enable the Cheslatta Carrier First... 

Kentz says Valerus acquisition strengthens its SA shale-energy hand 

By: Terence Creamer The African region of engineering and construction group Kentz believes it is strongly positioned for any future shale-gas extraction activity in South Africa, following the recent acquisition, by the London-listed group, of integrated oil and gas solutions provider Valerus, of the US. The South... 

Caterpillar Upgrades Room and Pillar Mining Equipment Manufacturing in Pennsylvania

Caterpillar is updating and upgrading room and pillar mining equipment manufacturing facilities in Houston, Penn. The facility, located south of Pittsburgh, currently manufactures continuous miners used in underground coal and soft rock mining, and it is being readied to manufacture the Cat® room... 

Shale gas unlikely to go global quickly – BHP’s Mackenzie

By: Leandi Kolver Despite the rapid growth of the US shale gas industry, coal will remain the dominant global fuel source for years to come, the CEO of the world’s largest diversified mining company, BHP Billiton said this week. In a speech delivered at the CERAWeek conference, in Houston, Andrew Mackenzie pointed... 

LIM continues on downward spiral

By: Henry Lazenby The TSX-listed stock of Labrador Iron Mines (LIM) on Tuesday continued on its downward spiral, losing 18.92% in morning trade, after the company last week announced that it would need about C$30-million in additional capital to be able to successfully restart mining during the 2014 season. The... 

India’s OVL eyes oil sands assets in Canada

By: Ajoy K Das ONGC Videsh Limited (OVL), the overseas arm of Indian oil exploration and production major ONGC Limited, was scouting for oil sand assets in Canada, marking a beginning by setting up an office in Calgary. According to a senior ONGC official, the Indian company was looking for joint venture... 

BHP's growth assured - Mackenzie

By: Esmarie Swanepoel Mining giant BHP Billiton chief Andrew Mackenzie has punted the company’s growth projections to shareholders in Houston, saying that growth of some 16% in copper equivalent terms, was expected over the next two years. On the first day of the company’s investor briefing, Mackenzie said that BHP’s... 

Labrador Iron Mines slightly narrows q-o-q net loss

By: Henry Lazenby Canadian direct-shipping iron-ore producer Labrador Iron Mines (LIM) on Friday said it had slightly narrowed its quarter-on-quarter loss, as higher iron-ore prices were offset by lower grades from its James mine, and by higher ocean freight costs. For the company’s second quarter ended September... 

LNG restructures board, searches for US-based project director

By: Creamer Media Reporter Perth-based Liquefied Natural Gas (LNG) on Friday unveiled a new board and management structure to assist the company in the delivery of its Magnolia project in the US. Paul Bridgwood and Norman Marshall would step down from the board on November 25, but would continue in their respective... 

Clariant Oil and Mining Services Opens Global Headquarters in Houston, Texas

By: Creamer Media Reporter • New facility expands on company’s investment in North America • Campus features state-of-the-art laboratories for advanced Oil and Mining technologies • Unique new assets and capabilities to offer outstanding products and services Clariant, a world leader in Specialty Chemicals, today announced... 

Arkansas lawsuits test fracking wastewater link to quakes 

By: Reuters Tony Davis, a 54-year-old construction worker in central Arkansas, said he welcomed the boom in natural gas drilling that brought jobs and new businesses to his hometown starting about a decade ago. But that was before the earth shook. In 2010 and 2011, the quiet farming town of Greenbrier,... 

Akin to railroads of the 1880s, oil pipelines poised to spur Canadian growth  

By: Henry Lazenby Canada is expecting a boom in oil production from its prolific Alberta oil sands deposits; however, production from the world’s third-largest proven oil reserves, after Saudi Arabia and Venezuela, is hampered by a lack of sufficient transport to markets, resulting in lower prices for Canadian... 

Akin to railroads of the 1880s, oil pipelines poised to spur Canadian economic growth

By: Henry Lazenby Canada is expecting a boom in oil production from its prolific Alberta oil sands deposits; however, production from the world’s third-largest proven oil reserves, after Saudi Arabia and Venezuela, is hampered by the lack of sufficient transport to markets, resulting in lower prices for Canadian... 

LIM full-year results under pressure from low iron-ore prices

By: Henry Lazenby Iron-ore producer Labrador Iron Mines (LIM) on Wednesday said that low spot prices, particularly a 33% drop during the 2012 autumn, had weighed on its revenue in the 2013 financial year, resulting in a sharp widening of its full-year loss. For the year ended March 31, LIM reported a loss of... 

Project management services firm completes PFS for Botswana diamond mine

By: Anine Vermeulen Engineering, procurement, construction, maintenance (EPCM) and project management services company Fluor South Africa reports that it has completed a prefeasibility study (PFS) for the Letlhakane mine in Botswana. The mine is owned by Debswana Diamond Company, a joint venture between the... 

Company Announcement: Lift-Off for WorleyParsons Global Delivery Hub Project

By: Creamer Media Reporter A major new initiative in the global and African EPCM (Engineering, Procurement and Construction Management) market was given lift-off recently with the official launch of the expanded WorleyParsons resources and energy organisation, on the back of its acquisition of TWP Holdings in South Africa 

Company Announcement: Afrox Welding Specialist Named "Young Welder of the Year"

One of Afrox’s top performing welding specialists, Houston Isaacs, has won the South African Institute of Welding’s (SAIW) Young Welder of the Year competition, qualifying him to represent South Africa in Liepzig, Germany, at the WorldSkills competition in July 2013, where he will compete among... 

LIM bullish on operating season as iron prices rebound

By: Henry Lazenby Canadian miner Labrador Iron Mines (LIM) on Friday said it is encouraged by a rebound in iron-ore prices as it is preparing to restart operations from its James mine, in Quebec. The company believes a number of factors were working in the company’s favour in the short term, with a surge in demand... 

Law firm discusses African mining future after US merger

By: Anine Vermeulen International law firm Norton Rose, whose national and international clients will exhibit at the Investing in African Mining Indaba next month, will attend the conference to meet its expanding client base, after having joined forces with international law firm Fulbright & Jaworski L.L.P. The... 

Indaba to promote Singapore as global trading hub

By: Zandile Mavuso It is foreseen that the next listings of resources stocks on the Singapore Exchange (SGX) will receive greater investor attention and liquidity, says associate director Foong Chong Lek. 

LIM cuts capital spend, low prices believed at bottom

By: Henry Lazenby Canada’s Labrador Iron Mines (LIM) on Tuesday said it had cut its capital expenditure (capex) budget as a result of iron-ore prices falling sharply during August. LIM said iron-ore spot prices had dropped by more than 20% in the past four weeks to $90/t of 62% iron-content ore, including cost... 

60 jobs on the block as Linc moves to cut costs

By: Esmarie Swanepoel Diversified energy company Linc Energy would cut some 60 employees from its payroll as part of a drive to reduce costs. Around 90% of these positions would be to the corporate and clean energy divisions, which would not affect any core business dealings. 

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