Mining News Highlight of January Mining Stock and Commodities:
CC. Well, analysts had been hoping for more, but Potash Corp. did say that the fourth quarter represented the beginning of the recovery in fertilizers. Investors, however, voted with their wallets, and Potash ended the week down C$9.38 at C$105.92.
Elsewhere in Potash, BHP Billiton went shopping and elected to buy junior explorer Athabasca Potash for C$341 million in cash, or C$8.35 per share. Athabasca’s Burr project is right next to BHP’s Jansen project, which is a proposed underground mine in Saskatchewan. Read more
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Colorado regulators agreed Thursday that Xcel Energy Inc. to be another coal-fired power unit to turn in Denver to run on natural gas as part of its plan to reduce emissions, an option that was not the first or second choice utility.
The fate of 4 Cherokee was one of the most controversial parts of Xcel’s plan to nitrogen oxide emissions by 2018 as required under a new state law. The new Clean Air Act, Clean Jobs focused on helping Colorado to meet federal clean air rules.
The Public Utilities Commission previously approved other parts of Xcel’s plan that would close five other coal-fired units in Denver and Boulder, in Denver a switch to run on natural gas, emissions controls and add units in Brush and Hayden. (more…)
Silver climbed to the most expensive relative to gold in 11 months as investors wanted their governments to protect the wealth of speculation can add to the monetary easing to help recovery, weakening currencies.
The ratio of gold to silver dropped below 60 years for the first time since October, falling as low as 59.8955. Silver has outperformed the yellow metal since June 30, the promotion of 17 percent versus 5.5 percent rise in gold prices as investors bought commodities because of its comparative low price. (more…)
Royal Ducth Shell oil company Europe’s largest, said net income for the first quarter increased 57 percent. increasing the ratio of net income, an increase in world oil prices, increased oil production and reduce costs. Oil production in the first quarter of 2009 reached 3.59 million barrels of oil per day. Shell reported a net profit of $ 5480000000 acquired, up $ 3490000000 for the same period last year and corporate profits totaled $ 86 billion to $ 52.2 billion. (more…)
