World Mining Exploration News

Company managers African Minerals Mining Tonkolili have said that the quality of iron ore has a very good and they will still ship their project who will work assiduously to provide the infrastructure development in the country.

This location is in the mining sites throughout the Tonkolili Sula Mountains Greenstone Belt of Sierra Leone’s, has a very good profit for the company because of proximity to the adjacent Port Tangrin one natural harbor in the world, Queen Elizabeth Quay 11. Quality iron ore with a world that contains not only the magnetite deposit at this time believed to be the third largest in the world at 5.1 Bt but by independent metallurgical test Amdel Limited of Australia has shown that is upgradeable Tonkolili iron ore with a high concentration of quality grading exceeds 68 % Fe in the mass recovery of 30%. Any impurities concentrate on the low level of less than 4.5% SiO2, 0.6% Al2O3 and 0.01% P.

Significant thickness and strike where the iron ore from the iron ore mineralization consisting of iron ore and oxidized cap transition zone overlies the main source of magnetite in the Tonkolili. (more…)

China’s largest iron ore consumer in the world, providing benchmark prices benchmark price of $ 110 for a ton on Thursday, traders and industry consultation Mysteel said, the price is 10 percent higher than the previous week due to local demand.

Sources of information trading of iron ore in China said that sentiment has grown, with little seen in the market today, in part because the iron ore price hikes faster than expected.

“Many young people want to buy with prices flat in Shanghai, but property prices are mounting their akan heavy pressure, and does not expect sharp price cuts or decline the request. There is a similar sentiment in the iron ore now,” said a Shanghai-based trader.

The increase in China’s domestic iron ore prices also fuel efforts by China’s steel decision to push up the price of steel to bolster their financial position and enable them to purchase materials. (more…)

There was a change in a very good Coal Mining Industries Group (TKV) that Vietnam has decided to increase coal production began in 2009 from 40 million to 43 million tons to be from the target that has been planned and set in the previous year

TKV group said that will increase coal production to meet the targets, with priority given to major customers such as coal power plant, fertilizer industry, paper and cement. And will develop a chain and production facilities, and diversified products for domestic and export market in 2009 and following years.

Until now, the group has requested TKV subsidiary mining to speed up production, develop new mines, expand existing mines, including Vang Danh, and Khanh Hoa Khe Cham, and will begin to invest in coal gasification projects under the ground under the Red River from the I beds.
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South Africa’s coal industry needs to ready itself for the next coal boom, which will undoubtedly occur, states Anglo Coal South Africa CEO Ben Magara on page 9 of this edition of Mining Weekly.rnrnMagara told McCloskey’s South African Coal Conference, in Cape Town, that all coal companies must collectively attack strategic issues in order to ensure that South Africa didn’t lose out on the next boom, as it had lost out on the one just past.rnrnHe stated that all South African coal-miners were still digging in the depleting Witbank coalfield and that the migration to the Waterberg coalfield had been “very slow”. South Africa did have vast coal resources, but turning those new areas to account required serious and ongoing commitment.rn (more…)

BP Migas signed agreements with a consortium of PT Medco CBM Sekayu and South Sumatra Energy Inc. research and exploration in the Coal Bed Methane (CBM), which found in a number of coal mining areas in Indonesia. CBM has found potential estimated at 453 Terra Standard Cubic Foot (TSCF).

Minister of Energy and Oil and Gas Resources (ESDM) Purnomo Yusgiantoro said that the basin CBM found in the Barito Basin, Berau Basin, Kutei Basin, Central Sumatra Basin, and the South Sumatra Basin and the basin in several South and West Java. “We hope this can be developed to the future,” Purnomo said in Jakarta on Tuesday (27 / 5), to the signing of the agreement.

Meanwhile, Director General of Oil and Gas Luluk Sumiarso, on the same occasion, said that the industry is to follow the rules will be temporary, and oil and gas will continue to be enhanced through various inputs. Luluk also not mentioned the number of target esplorasi production of CBM. (more…)

China, consumers the world’s largest iron ore, the rules restrict imports in order to press the price hikes in the international market, according to the official state media Friday report.

Step is implemented to reduce import demand is pushing the price rise during the last few years, according to China Daily.

Last week, major Chinese steel industry, Baosteel, to reach agreement with Brazil’s CVRD to raise prices as much as 9.5% in 2007 to seed.

Following the increase 19% this year and 71.5% in 2005 when CVRD, BHP Biliton and Rio Tinto, three suppliers who control more than 70% of the world iron ore trade.
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Coal in Indonesia is one of alternative energy sources outside the oil and gas. Coal sludge spread wide in the area of Indonesia. One of the areas that have seen the potential of coal is a very big island of Kalimantan.

This area contains a lot of coal resources with an adequate thickness varies, located up to a depth of more than 100 m, and has a slope that is not homogeneous.

This situation shows the profit picture for the method ditambang underground mine. In some places a layer of coal is in the area under protected areas, which is closed to the possibility of the method grown mine.

Currently, many companies that make coal exploration activities in these areas, even some of them have made the production activities. (more…)

Northern Oil and Gas, Inc. (Amex: NOG) (”Northern Oil”) today announced that it has entered into a letter of intent with a financial institution for a senior secured, reserve-based revolving credit facility providing up to $25 million of financing for future drilling activities. As proposed, $15 million of financing would initially be made available for drilling projects, specifically developmental drilling on Northern Oil’s North Dakota Bakken and Three Forks position. The remaining $10 million of financing under the facility could become available upon subsequent recalculations of reserves based on the deployment of the immediately-available principal amount. The facility will be available for a period of four years and will feature a floating rate of interest competitive with other senior secured revolving credit facilities provided to other companies in the oil and gas industry. The facility will be subject to the usual and customary financial covenants. Final execution of a definitive agreement regarding the credit facility is subject to various conditions, including completion of due diligence and negotiation of definitive loan documentation, among other things.
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