87 workers perish in China mine disaster

HARBIN, China (AFP) - The death toll from a coal mine blast in northeast China climbed to 87 on Sunday as rescuers hunted for 21 workers still trapped deep underground in the nation's deadliest mine disaster in two years. The explosion tore through the

Investments into Commodities Surpass 2006 Record

If inflation expectations remain contained why is a record amount of money pouring into commodities this year? Indeed, there is nothing like a rapidly increasing global supply of paper currency to drive interest in hard assets and push prices upward.

Sugar price goes upto Rs80/kg in Peshawar

PESHAWAR: Sugar crisis continues here and the commodity is being black-marketed for upto Rs80/kg. Due to the shortage of the essential food items, small shopkeepers are forced to procure the commodity in black-market later to sell at inflated rates. On

China mine explosion death toll reaches 87

Rescuers wait to go down Xinxing coal mine to search for survivors following a gas explosion at the mine in Hegang, Heilongjiang Province November 21, 2009. The death toll from China's latest coal mine disaster reached 87 as hopes dimmed on Sunday that

Power retailers' last push for carbon compensation

In final frantic hours of negotiations over climate change legislation, media attention has focused on the politics of it, particularly the brawling within the Coalition. But the expected impact of a carbon pollution reduction scheme on the electricity

Yukon-Nevada Gold Corp. announces that the September 2009 private placement needs to be approved by shareholders

VANCOUVER, Nov. 20 /PRwire-FirstCall/ - Yukon-Nevada Gold Corp. (Toronto Stock Exchange: Frankfurt Xetra Exchange: NG6) Robert F. Baldock , the President and CEO of Yukon-Nevada Gold Corp. (the 'Company'), announces that, pursuant to a Notice of Private

World Bank technical aid for Thar coal: Sindh appoints Piet as Energy Advisor

: The Sindh government has appointed Faling, Pieter Adriaan (Piet) as the International Energy Advisor under World Bank's Thar Coal and Power Technical Assistance Project to promote the vast coal reserves of district Tharparkar, Business Recorder learnt

Egypt raises local sugar cane procurement prices

CAIRO - Egypt has raised by 17 percent the price at which it buys sugar cane from local farmers to 234 Egyptian pounds per tonne, the Investment Ministry said. The procurement price was 200 pounds for the 2009 season. The state-owned Sugar and Integrated

Brides forced to be austere with high gold prices

New Delhi: For Indian brides buying jewellery, the bigger the better is the general rule, but record gold prices during this year’s wedding season are forcing many to compromise.India is the world’s biggest consumer of gold, so the rise of local

New Gold shuts mine in Mexico

Mining suspended in Cerro San Pedro after court ruling; company appealing suspension Shares of New Gold Inc. dropped more than 17 per cent Thursday after the company said it had suspended mining at its Cerro San Pedro mine in Mexico following an order

Analysis: Who to benefit from China-US clean energy cooperation

China and the US agreed to establish a clean energy research center in a joint statement signed on Tuesday after talks between Chinese president Hu Jintao and US president Barack Obama. A protocol was signed between China's Ministry of Science and

Miner may go under knife to prove point

A desperate middle-aged miner from Southwest China's Sichuan province is prepared to undergo surgery if necessary in a bid to prove he has 'black lung' disease so he can get the treatment he needs. Wang Chengzhang, 46, from Wangyang town, Renshou county,

Top Stories of the Day: China metals - Nov. 19

Top stories for China's metals market on November 19, as follows: 1. Panzhihua New Steel & Vanadium Co., LTD. announced today the appointment of new senior management and start of the reorganization of its inner assets. Comment: The company, which

Inner Mongolia tops China's coal production

North China's Inner Mongolia Autonomous Region produced 511 million tonnes of coal in January-October this year, jumping 32 percent from the same period of 2008, said local government. Included are 332 million tons from state-owned key coal mines, 36

China rejects U.S., EU, Mexican requests for WTO panel on raw materials

China on Thursday rejected requests made by the United States, the European Union and Mexico to establish a WTO expert panel to investigate and rule on so-called Chinese restrictions of raw materials exportation. At a meeting of the WTO's dispute

Top Stories of the Day: China metals - Nov. 20

Top stories for China's metals market on November 19, as follows: 1. Gold Association of the World published Thursday that China's third-quarter gold consumption hit new high of 102.2 tonnes, up 12 percent on a year ago; meanwhile, its gold jewelry

Gold to hit $1650 by late 2010, early 2011, but estimate could be low - Jim Sinclair

As a contra to the dollar the outlook for the yellow metal remains strong

Steel Output in China May Outpace Demand, CISA Says

Steel production in China, the world's largest maker and consumer, may outpace demand growth this year, spurring exports in the last two months, the China Iron & Steel Association said. Output may rise to a higher-than-expected 565 million metric tons,

Gold price opens lower in Hong Kong -- Nov. 19

The gold price in Hong Kong dropped 40 HK dollars to open at 10,520 HK dollars per tael on Thursday. The price is equivalent to 1,140.62 U.S. dollars a troy ounce, down 4.34 U.S. dollars at the latest exchange rate of one U.S. dollar against 7.742 HK

Chinese Coking Coal Supply to Be 'Tight' in 2010, KGI Says

Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for coking coal to make the metal. He wrote in a report dated today. 'China's crude steel output will grow by around 8 percent in 2010

Vedanta Aluminium to Double Alumina Output After Mine Approval

Vedanta Aluminium Ltd., a unit of India's largest copper producer, plans to double alumina production once it gains approval to mine bauxite in Orissa. Approval for the mine will come 'soon,' Mukesh Kumar, the chief operating officer of the unit of

Norway's pension fund drops Russian mining group

Norway's Finance Ministry says it has dropped Russian mining giant Norilsk Nickel from the country's pension fund because of concerns over pollution that has sickened nearby residents. The ministry said Thursday a state ethics committee recommended

Bendigo Mining hails exploration results

New Mining OpportunitiesBrowse Mining projects in Egypt &learn more about how to invest herewww.investment.gov.egAAPGold producer Bendigo Mining says it has discovered new mineralisations at projects in Tasmania and Victoria. Based on visual grade

Shanghai copper futures sizzle

Copper futures traded in London, New York and Shanghai rallied to the highest level in 14 months as the dollar's decline boosted the appeal of raw materials as alternative investments. The metal used in construction and automobiles has more than doubled

Taiyuan JV launches chrome mining project in Turkey

Sino Cast Daily Business reported that Chinese state owned steelmaker Taiyuan Iron and Steel (Group) Co Ltd, its Chinese partner Shanxi Jinzhong Wanbang Industrial and Trade Co Ltd and its Turkish partner CVK Group have launched their joint chrome mining

POSCO breaks ground for auto steel service center at Nilufer in Turkey

POSCO broke ground on November 12th 2009 for POSCO and Turkey Nilufer Processing Centre a new processing facility specializing in auto steel in the Hasanaga Industrial Complex located in the vicinity of the city of Nilufer in Turkey. The comprehensive

New leader for P&H as it adds in-pit crushing/conveyors to blasthole drills and shovels

On November 30, Randal W. Baker will join the company as President and Chief Operating Officer of Joy Global’s surface mining equipment business, P&H Mining Equipment, and Executive Vice President of Joy Global. Prior to his last position, he had 14 years in a series of progressively senior leadership roles in the mining equipment industry, which included [...]

Breaking:Protestors Stop Blasting on Coal River Mountain

River Mountain’s Bee Tree mountaintop removal site, effectively stopping blasting. Two others, Grace Williams and Laura Von Dolen, joined them in direct support, holding a banner with the message “Save Coal River Mountain”. These nonviolent

China mine toll reaches 87

The death toll from Chinas latest coal mine disaster reached 87 as hopes dimmed today that more survivors would be found a day after a gas blast at a colliery in the countrys icy far north-east.Xinhua news agency reported 528 workers were in the mine, at

DTI issues SRP for basic commodities

The Department of Trade and Industry (DTI) has come up with the Suggested Retail Price (SRP) for basic necessities and prime commodities to ensure that prices of basic and prime commodities remain stable after the lifting of the price control. DTI

Africa to adopt RP hybrid rice technology to boost production

The Baklang Farms of Nigeria in Africa, an indigenous company with interests in agriculture, signed a memorandum of agreement recently with SL Agritech Corp. to utilize the latter’s SL-8H hybrid rice technology to increase production and develop its

Rio to receive $US741 million

Global miner Rio Tinto says it will receive total proceeds of at least $US741 million in connection with the recent initial public offering (IPO) of Cloud Peak Energy Inc, and related transactions. Cloud Peak Energy Inc, the third largest coal producer

India Power and Srei combine wins bid for control of DPSC

BS reported that in an all cash deal a consortium of India Power Corporation Ltd and Srei Infrastructure Finance Ltd has won the bid for a controlling stake of 57.17% in DPSC Ltd (formerly Dishergarh Power Supply Company) which was previously held by

Vizag Port to invite bids for two berths under PPP

BS reported that Visakhapatnam Port will soon invite fresh bids for construction of two berths under public private partnership. Mr Ajay Kallam chairman of Vizag Port said that “Within one or two days we would call for fresh request for qualification

Macroeconomic indicators - India GDP over 7pct in 2010 - OECD

Organization for Economic Co operation and Development in its latest report on semi annual economic outlook released has raised India 2010 gross domestic product growth forecast. It said that growth is projected to reach over 7% in 2010 and 705%½ in

POSCO war zone - Anti and pro POSCO factions reiterate stands

Since inking a deal with Odisha Government in 2005, POSCO has not been able to make much tangible progress for the project till date but in a recent development despite stiff resistance from the anti project brigade, South Korean President Lee Myung-Bak

TATA Steel initiative to empower women

TATA Steel kicked off this year’s edition of Tejaswini Program recently. This initiative by TATA will empower women by creating for them, role models, who will define the way forward for women in society as well as industry. As a first step, women

Visa Steel applies for mining leases in Orissa and Chattisgarh

Mr Vishambhar Saran chairman of Visa Steel said that steel prices may be falling but that of primary raw materials such as pig iron, coke and coking coal continue to remain stable. Visa Steel expects to receive captive mining leases in Orissa soon and

KEC International secures two orders

KEC International secured two orders for rural electrification and substation work worth INR 1.14 billion. The first order worth INR 740 million is for rural electrification in Madhya Pradesh and the second for INR 400 million orders is for building a

BSL looking to offload 5pct stake - Report

ET reported that Delhi based Bhushan Steel Limited is looking to sell a 5% stake to strategic investors for close to INR 400 crore. A person familiar with the development told ET that the funds raised through fresh issue of shares will be used to finance

Chattisgarh CM admits maoist problems in TATA Steel Bastar project

PTI reported that Dr Raman Singh chief minister of Chhattisgarh accepted that maoists are hindering acquisition of land for TATA Steel's proposed f integrated greenfield steel plant in the state. Dr Singh said ultra left outfits are inciting villagers

TATA Steel launches exchange offer for CARSTM

TATA Steel Limited had launched on 11th November 2009, an exchange offer of new foreign currency convertible bonds for any or all of the existing USD 875 million Convertible Alternative Reference Securities due 2012. The CARSTM have a yield to maturity

Vizag Port strike continues

BL reported that the strike by workers of the cargo handling department of the Visakhapatnam port continued on the weekend and there was no headway in the talks with the management. The Assistant Labour Commissioner initiated conciliation proceedings and

Iron ore mines should be with steel ministry - Mr Singh Steel Minister of India

Mr Virbhadra Singh union steel minister during an interview with Ms Sreelatha Menon of Business Standard, while addressing several iron ore mining issues effecting the development of Indian steel industry asserted that after mines are exhausted, the land

Indowind Energy uses INR 36 crore loan

Indowind Energy Ltd on Friday said it had availed of INR 36 crore term loan of the INR 76 crore sanctioned by Indian Renewable Energy Development Agency Ltd in October 2008 for completing the existing 18 MW operational projects. The balance INR 40 crore

ASSOCHAM reiterates demand To Raise FDI limit in defense

The Associated Chambers of Commerce and Industry of India has reiterated its demand for hiking foreign direct investment ceiling in defence from 26% to 49% so that defence indigenisation grows with faster adoption of latest technology transfer. Dr Swati

ABG Shipyard gets approval for Great Offshore bid

Shipyard Ltd has received regulatory approval for its open offer to buy a controlling stake in offshore services provider Great Offshore. Mr Dhananjay Datar CFO of ABG Shipyard told Reuters that 'We have received approvals for the open offer. The move

NTPC seeking long term coal deals - Mr Sharma

Mr RS Sharma chairman of NTPC said that NTPC in 2010/11 will look at signing long term contracts with coal producers to import the fuel. Mr Sharma said that the contracts could run for up to 3 years and would give the utility reliability, security and

Rays of recovery - Indian power demand up by 6pct in 7 months

In a clear indication of an economic revival, the demand for power in India has jumped 6.3% in the April to October period this financial year as compared with the same period of 2007-08 when it had increased by a mere 0.3%, its lowest growth in the past

Numeric Power plans to foray into solar power

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