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September 23rd, 2008
Category
Copper, Drilling, Exploration, Mining, Mining Company, Mining Investment, Mining Technology |
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IMA Exploration Inc. has signed a drilling contract with Matrix Diamond Drilling Inc. of British Columbia to complete a minimum 5000m Phase I drill program on the Island Copper project in Port Hardy, BC. Drilling is planned to begin by early October. Phase I drilling will include a minimum of 2500m of drilling on the NW Expo gold and moly zone discovered by Lumina Copper in 2005. This recent discovery has seen limited follow-up and has significant potential as it is open to the north and west. Infill and step-out drilling will also be carried out on the Hushamu NI 43-101 compliant resource to confirm continuity of mineralization and to obtain additional data on the molybdenum grade distribution (molybdenum is not included in the current NI 43-101 resource estimate). Two diamond drill rigs will be used to accelerate the drilling and allow for testing the two targets simultaneously.
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September 15th, 2008
Category
Exploration, Mining, Mining Finance, Mining Industry, Mining Investment, Mining Technology, Trade & Market, Uranium |
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Uranium exploration has already picked up in Western Australia as junior miners are encouraged by the incoming Liberal government’s pro uranium stance.
The former Labor government, which had been headed Alan Carpenter, had a fiercely anti-uranium stance and had proposed a ban on mining the commodity. This had prompted concerns about the state’s sovereign risk profile.
Junior explorer Aurora Minerals Ltd estimates that WA holds 180,000 tonnes of known uranium resources, worth about $50 billion based on a yellowcake price of about $US100 a pound.
The company said an extra 400,000 to 500,000 tonnes of uranium, worth $138 billion, could be discovered if there is a surge in uranium exploration in WA.
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September 9th, 2008
Category
Coal, Company, Copper, Drilling, Exploration, Gold, Mining, Mining Company, Mining Contractor, Mining Technology, Offshore, Silver, Zinc |
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Recovering minerals from the sea has long had a vague, but elusive attraction. After all, the science of hydrometallurgy is based on the chemistry of recovering metals from solution, and it is well-known that the sea contains huge tonnages of dissolved metals.
In reality, however, with the exception of near-shore diamonds and construction aggregates the economics have never panned out, as anyone with a memory that goes back to the 1970s and 1980s will recall. With earlier concepts of recovering gold from seawater having been proven to be unworkable, considerable sums were then spent on evaluating deep-sea manganese deposits, with the idea of scooping up enriched nodules that would form a sort of pre-prepared concentrate. That, too, came to nothing, although in hindsight, the techniques and equipment used proved valuable in terms of advancing deep-sea exploration.
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August 4th, 2008
Category
Drilling, Equipment, Exploration, Mining Contractor, Mining Investment, Mining Technology |
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The lights on the rigs pierce the black West Texas night, illuminating mesquite shrubs and jack rabbits scampering across the flat landscape. The glow sends a reassuring message: Good times have returned to the oil patch.
Pump jacks nod vigorously alongside the highway. Fat royalty checks arrive monthly in the mailboxes of ranchers and other landowners. Teachers and retail clerks abandon their jobs for better-paying work in the oil fields as long-idle wells surge to life.
Yet, the people of Kermit and other Permian Basin towns have learned that petroleum-based prosperity is too fragile to squander in wild exuberance. They’re paying off debts and investing in public institutions that will endure beyond the boom-and-bust cycles of the oil business.
“I’ve pissed away three booms in my lifetime, but this time, no,” said Gary Blue, 43, who says his business preparing sites for drilling is turning down about as much work as it accepts these days.
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August 2nd, 2008
Category
Drilling, Exploration, Gold, Mineral, Mining, Mining Contractor, Mining Investment, Mining Technology |
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Kodiak Exploration Limited (TSX VENTURE: KXL) is pleased to report that as it approaches the mid-point of its 2008 exploration program, it has already increased the dimensions of the Golden Mile mineralized zone by more than 600% and made multiple new discoveries at the Hercules project. This has dramatically enhanced the resource potential of the entire area. In addition, Kodiak has also had excellent initial exploration results on several other stand alone regional targets it generated. These targets, spread across more than 200 kilometres of Kodiak’s land holdings, are simultaneously being explored outside the Hercules project area. As a result, Kodiak plans to increase the number of drill rigs on site from five to eight and to increase the size of its work force, which already stands at well over 100 personnel in the field.
During 2008, Kodiak has completed over 27,000 metres of drilling in over 100 holes at the Hercules Project,
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July 20th, 2008
Category
Drilling, Exploration, Mining, Mining Contractor, Mining Technology, Oil & Gas |
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Get Kathy Phillips talking about oil exploration off the Mid-Atlantic, and she conjures a scene right out of the Gulf of Mexico, with drilling platforms, pipelines and pumping stations overwhelming the shoreline.
“People here on the East Coast don’t have a clue what it means to have offshore drilling,” said Phillips, an environmental activist with the Assateague Coastal Trust. “It’s dirty business. The water is dirty, and your beaches end up being dirty, and you’re dealing with globules of oil and globs of tar.
“I’m not even talking about oil spills. I’m talking about day-to-day operations.”
With energy costs continuing to climb, politicians in Washington are again casting their gaze to the waters of the Mid-Atlantic, and the oil and natural gas reserves that geologists believe lie beneath. New talk of offshore exploration has the region’s environmentalists on edge.
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July 11th, 2008
Category
Drilling, Exploration, Mining Contractor, Mining Finance, Mining Investment, Mining Technology, Trade & Market |
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The newest in-state gas pipeline plan for Alaska is based on a bet.
By connecting a region with a declining supply of gas to another region desperate for affordable fuel, the state is betting it can jump-start production of untapped Cook Inlet reserves by using demand from the Interior like a battery and a pipeline like a set of jumper cables. (See related story on this page.)
What remains unclear is whether the jolt will do the trick.
The state, Enstar Natural Gas Co. and the Alaska Natural Gas Development Authority think it will. Those three parties announced a public-private partnership on July 7 to explore a pipeline running from Cook Inlet to Fairbanks.
“We’ve always maintained that if you pre-build the pipeline, you would generate the market forces that would cause a lot of things to happen,” said Harold Heinze, chief executive officer of the Alaska Natural Gas Development Authority. “And in this case, just the commitment of the state to do this kind of a project ought to encourage the local exploration, because it does expand their market.”
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July 10th, 2008
Category
Exploration, General News, Mining Finance, Mining Investment, Oil Price, Trade & Market |
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Baker Institute’s Amy Jaffe congressional testimony on the roots of high oil prices.
Introduction: The Oil Price Premium, Roots and Causes
Since 2004, a growing scarcity of energy commodities worldwide has heightened concerns about key geopolitical risks and threats. Concerns about these threats and other factors have led to an almost 250 percent strengthening in oil prices between April 2004 ($36/barrel) and May 2008 ($125/bbl).
Those threats included:
*A politically-motivated cutoff of oil or natural gas supplies by a major exporter (such as Russia to a European country or Venezuela to the United States) or group of exporters;
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