Banro Announces The Arrival Of Its Refurbished Gold Plant At Twangiza And Provides Construction Update Print E-mail
Thursday, 29 July 2010 20:29
Banro Corporation ("Banro" or the "Company") (NYSE AMEX - "BAA"; TSX - "BAA") announced that the reconditioned gold processing plant, which the Company acquired in Australia for re-assembly at its wholly-owned Twangiza gold project in South Kivu Province of the Democratic Republic of the Congo (the "DRC"), has begun arriving at the Twangiza site.

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African Aura Mining: Drilling Underway at Nkout Iron Ore Project In Cameroon Print E-mail
Thursday, 29 July 2010 20:21
African Aura Mining Inc. ("African Aura" or the "Company") the TSX-V (AUR) and AIM (AAAM) listed exploration to production company with divisions focused on iron ore and gold in sub-Saharan Africa announces that a first phase 4,200m initial resource definition drilling programme commenced on 25th July 2010 at the Company's 100% owned Nkout iron ore project in southern Cameroon.

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Hochschild Mining: Production Report for the three months to 30 June 2010 - Q2 2010 Print E-mail
Thursday, 29 July 2010 20:20
Highlights
  • 12% quarter-on-quarter increase in production to 6.8 million attributable silver equivalent ounces

  • Production increased 33% at San Jose, 16% at Arcata and 9% at Pallancata

  • H1 2010 production of 12.8 million attributable silver equivalent ounces

  • On track to achieve 2010 production target of 26.3 million attributable silver equivalent ounces

  • Resource life of mine up 11% in H1 2010 to 7.91 years, expected to further increase by year end

  • Largest ever exploration budget of $50 million for 2010; programme delivering impressive results:

  • Scoping study commenced at 100% owned Azuca project

  • Crespo project progressing towards scoping study

  • Intensive drilling programme at potential company maker projects

  • $6.0 million invested in Gold Resource Corporation in Q2 2010, increasing stake to 30%2

  • Continued focus on profitability and cost control - costs remain in line with expectations

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First Quantum Minerals Provides Progress Report on Kevitsa Nickel-Copper-PGE Project, Finland Print E-mail
Thursday, 29 July 2010 20:09

First Quantum Minerals Ltd. (“First Quantum” or the “Company”, TSX Symbol “FM”, LSE Symbol “FQM”) provide a progress report on the Kevitsa nickel-copper-PGE project in Finland. The project was approved for development by the Company’s Board of Directors in November 2009 and is expected to begin commercial production in mid 2012.

Highlights

  • BNP Paribas and Standard Bank of South Africa jointly mandated to arrange a debt facility
  • Government support agreed for several infrastructure projects
  • On-site construction activity commenced with approximately 75 construction personnel currently on site
  • Ongoing drill program returns further positive results

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BFS: ASSE - Backfilling of roof clefts ceases due to supplier problems Print E-mail
Thursday, 29 July 2010 14:05
  • Salt producer does not meet contractual obligation to supply
The backfilling of roof clefts to stabilise the Asse II mine has been interrupted because the company supplying the salt for the production of the special type of concrete does currently not meet its obligation to supply which has been ensured by contract.

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CEMEX reports second quarter 2010 results Print E-mail
Thursday, 29 July 2010 10:14
CEMEX, S.A.B. de C.V. (NYSE: CX), announced that consolidated net sales decreased 3% in the second quarter of 2010 to approximately US$3.8 billion versus the comparable period in 2009. Operating EBITDA decreased 13% in the second quarter of 2010 to US$664 million versus the same period of 2009. Consolidated cement sales volume increased 3% versus the same period in 2009, while ready-mix and aggregates sales volumes decreased 5% and 4%, respectively.

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Lonmin: Third Quarter 2010 Production Report & Interim Management Statement Print E-mail
Thursday, 29 July 2010 09:10

Lonmin Plc announced its production report and interim management statement for the three and nine months to 30 June 2010 (unaudited).

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Vinci: Cegelec wins contract for the construction of a new thermal power station in Morocco Print E-mail
Thursday, 29 July 2010 07:07

Cegelec, a subsidiary of VINCI’s energies business line, is to supply, as part of a consortium headed by GE Energy, all the civil engineering as well as the electrical and mechanical balance of plant for a turnkey thermal power station for the Office national de l’Electricité (ONE), the Morocco’s main electricity sector operator.

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Hydro: Second quarter 2010 - Results rise further on higher aluminium prices and solid sales Print E-mail
Thursday, 29 July 2010 06:44

Hydro had underlying earnings before financial items and tax of NOK 1,110 million in the second quarter, rising from NOK 688 million in the first quarter. Higher realized aluminium prices, continued improvements in alumina operations and higher downstream sales lifted underlying results for the quarter.

  • NOK 1,110 million in second quarter underlying EBIT
  • Solid demand in seasonally strong quarter
  • Upstream improves on higher aluminium prices and alumina performance
  • Downstream rises further with strong sales, firm margins and improved productivity
  • Energy falls on significantly lower power production
  • Qatalum ramp-up on schedule for full output in Q4, 48 percent of cells in operation end-Q2
  • Takeover of Vale's aluminium business on track for Q4 closing
  • NOK 10 billion rights offering successfully completed
  • 2010 outlook for growth in Hydro's main markets unchanged at 12 percent

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KCA DEUTAG engineering division, RDS, awarded contract for AIOC Chirag Oil Project execute phase Print E-mail
Thursday, 29 July 2010 04:18
  • KCA DEUTAG engineering division, RDS, awarded contract for AIOC Chirag Oil Project execute phase

RDS, the world’s leading specialist designer of drilling facilities, has been awarded the contract for the Chirag Oil Project (COP) “Execute” phase by the Azerbaijan International Operating Company (AIOC), operated by BP.

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IEA encourages Turkey to further reform its energy sector and move towards a low-carbon economy Print E-mail
Thursday, 29 July 2010 03:36
Turkey will likely see the fastest medium to long-term growth in energy demand among the IEA member countries,” said Nobuo Tanaka, Executive Director of the International Energy Agency (IEA), today in Ankara. Presenting the new study Energy Policies of IEA Countries – Turkey 2009 Review, he noted that although ensuring sufficient energy supply to a growing economy remains the government’s main energy policy concern, “Turkey has also progressed significantly in all other areas of energy policy over the past few years.”

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Xstrata: Production Report for six months ended 30 June 2010 Print E-mail
Thursday, 29 July 2010 02:29

Highlights:

  • Production volumes increased for ferrochrome, PGMs, Australian coking and semi-soft coal, refined nickel, zinc in concentrate and lead in concentrate compared to the first half of 2009

  • Ferrochrome production rose by 149% in response to improved market conditions. The third quarter ferrochrome benchmark price was settled at $1.30 per pound

  • Australian coking coal production was 73% higher following the resumption of longwall operations at Oaky No. 1 in August 2009 and increased productivity at Oaky North.  Semi-soft production increased by 50% at the expense of thermal coal volumes to take advantage of higher market prices

  • During the first half, Xstrata Coal commissioned the underground Blakefield South mine in Australia that will replace Beltana and is ramping up to reach full capacity in the third quarter of 2010 and continued the ramp of the recently completed Goedgevonden greenfield open cut operation in South Africa, to its capacity of 12 million ROM tonnes per annum (100%)

  • Xstrata’s share of Collahuasi’s copper production increased by 8% to 117,363 tonnes, due to improved mill throughput, ore grades and metallurgical recoveries. Higher copper grades improved production at Kidd Mine

  • Total refined nickel increased by 8% as the integrated nickel operations maximised capacity through processing all of Xstrata Nickel Australasia’s feed. In April, Nickel Rim South commenced full mine operation and is on track to reach full capacity of 18,000 tonnes of nickel in concentrate per annum in 2011

  • The ongoing transformation of Xstrata Zinc through expansions and productivity improvements at the Australian operations contributed to a 6% increase in production of zinc in concentrate. Zinc metal and lead metal volumes increased with all smelters operating at full capacity.

 

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Xcel Energy Awards Global Nuclear Fuel Contract to Ensure Reliable Fuel Supply for Monticello Nuclear Power Plant Print E-mail
Thursday, 29 July 2010 01:24
With more utilities seeking to boost the output of their existing nuclear power plants to generate more low-carbon electricity, Global Nuclear Fuel-Americas (GNF) is manufacturing more efficient fuel technology to help operators achieve their energy and emissionsreduction goals.

Xcel Energy is the latest U.S. utility to address its future nuclear fuel supply needs by selecting GNF to continue providing reliable fuel and reload-engineering services to the company’s Monticello Nuclear Generating Plant. The plant is located about 50 miles northwest of Minneapolis, where Xcel Energy is headquartered.

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Tullow Oil: Successful Ngiri-2 appraisal well Print E-mail
Thursday, 29 July 2010 01:03
Tullow Oil plc (Tullow) announces that the Ngiri-2 appraisal well, which is located in the Butiaba region of Uganda Block 1, has encountered over 40 metres of net oil bearing reservoir in two zones within an overall 131 metre gross oil bearing interval.

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BP: Second quarter 2010 results Print E-mail
Wednesday, 28 July 2010 18:16

Second quarter and half year 2010(a)


Second quarter First quarter Second quarter $ million
First half
2009 2010 2010 2010 2009
     
4,385 6,079 (17,150) Profit (loss) for the period (b) (11,071) 6,947
(1,245) (481) 177 Inventory holding (gains) losses, net of tax (304) (1,420)
     
3,140 5,598 (16,973) Replacement cost profit (loss) (11,375) 5,527
     
16.76 29.82 (90.35) - per ordinary share (cents) (60.58) 29.51
1.01 1.79 (5.42) - per ADS (dollars) (3.63) 1.77
     

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