OAO Raspadskaya, the coal producer part-owned by billionaire Roman Abramovich, lowered goals while working to restore production at its flagship me to a level achieved before explosion 90 miners slain last year. “We have as much as $ 190 million invested so far in the reconstruction of our main mine” and invest $ 80 million more next year, said Gennady Kozovoy, CEO and co-owner of Raspadskaya. He spoke in an interview on December 7 Russian Kemerovo region, about 3500 kilometers (2200 miles) east of Moscow. Read more
Dow Jones Industrial Average edged up to a fresh 2010 closing high in thin trade on Tuesday, led by gains in Chevron and Hewlett-Packard hit. The Dow closed 20.51 points, or 0.18%, at 11,575.54, its highest close since August 28, 2008. Will the measure profits, Chevron rose $ 1.07, or 1.2%, to 91.19 after a county in California, a company official said that refinery was operating. A California Emergency Management Agency said earlier submission that the plant was closed down.
Hewlett-Packard was also strong, adding 43 cents, or 1%, to 42.25 after it said it was a 10-year contract for up to $ 2.5 billion personal computers, accessories and support services to NASA awarded. Read more
Oil tumbles, a result of fuel oil on the European Corporate Debt. Oil drops, following oil lower, as concern the European Union may have more to bail States pushed the euro to its lowest level in 10 weeks.
TOP markets news
BP cuts Alaskan construction of Liberty Rig
BP Plc, the largest producer of oil and natural gas in the U.S., suspended construction of a drilling platform at its Liberty project in Alaska to “take the time to evaluate safety” on the rig, Steve Rinehart, a spokesman for the company, said In a telephone interview.
ONGC to invest in the largest oil field to two decades of decline Voice
Oil & Natural Gas Corp., India’s largest energy explorer, plans to increase spending on the redevelopment of the largest oil field more than two decades of decline in steel production. Read more
Many a big gold bug eyes a glimpse of their favorite metal jump over the psychological (and technical) important $ 1,200 per ounce level on Wednesday. I say a “look”, because those who blinked may have missed. But the blip still managed to register on the radar screen long enough for any gold lover hot and bothered about a possible return to the highs enjoyed in earlier years, if not a leap into the stratosphere. Read more
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SYDNEY – Australia increased official forecasts for the main export commodity next year, citing higher demand for iron ore, copper and nickel as more economies outside Asia of the global financial crisis to recover.
Australian iron ore exports are set to record hit 422 million tons in calendar 2011, the government commodities forecaster said on Tuesday, as the American, European and Japanese steel producers, production capacity idled in 2008 to restart, add to the already strong demand for iron ore from China steel mills. Read more
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JOHANNESBURG – The Lucara Diamonds and African Diamonds joint venture (JV) Board has approved the development of the AK6 mine in Botswana, where production will start by the end of next year, the companies announced Tuesday. TSX Venture exchange-traded Lucara is operator of the project and has a 60% interest in the project with Aim-listed African Diamonds holds a 40% interest. (more…)
Based in Perth Junior Troy Resources has lost up to 2.23 million dollars worth of gold in a flight to his Andorinhas mine in Brazil, the company announced yesterday. According to Troy, a group of armed robbers took three employees hostage on the road leaving the mine before returning to the site Andorinhas where about 2,000 ounces of gold ore was taken. (more…)
Gansu Pacific Mining Co. Ltd., a subsidiary of Jinshan Gold Mines and the nuclear industry in the Northwest Economic and Technology Co. has signed an agreement to sell the project Dadiangou gold mine in China’s Gansu Province, China. draft Dadiangou gold mine was sold to Gansu Zhongjin Gold Mining Co. Ltd., a subsidiary of Zhongjin Gold. The purchase price Dadiangou gold mine project is RMB 88 million (C $ 13.1 million), whereby the Company will be entitled to 53%, or RMB 46.6 million (CAN $ 7,000,000). (more…)
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