CEO Ivan Glasenberg’s move makes total sense. “This is a classic counter-cyclical acquisitive strategy that Ivan Glasenberg has made his name in,” mining analysts Paul Gait told Bloomberg.
Read more at: http://www.mining.com/what-does-glencore-xstrata-see-in-coal-that-others-dont-66424/
KOLKATA (miningweekly.com) – India has offered mining giant BHP Billiton a collaboration with domestic exploration and production (E&P) major ONGC Limited to lure the major back to the nine oil and gas blocks it relinquished in October.
India’s Petroleum and Natural Gas Ministry said that an alliance between ONGC and BHP Billiton would be mutually beneficial, as the domestic E&P major needed oil and gas blocks, while the Anglo-Australian resource major could depend on the Indian company to address the reasons that led it to exit from the nine blocks..
Read more at: http://www.miningweekly.com/article/bhp-offered-partnership-with-domestic-major-to-return-to-indian-oil-gas-blocks-2013-12-04
(Reuters) – Chinese companies are on the hunt to buy overseas coal mines as Beijing’s switch to cleaner fuels stokes demand for higher-quality coal produced in countries such as Australia, according to people familiar with the firms’ strategies.
A renewed appetite for acquisitions by the world’s biggest coal consumer will be a big boost for miners who are trying to dispose of assets worth billions of dollars to boost shareholder returns.
Read more at: http://uk.reuters.com/article/2013/12/01/uk-china-coal-idUKBRE9B00FV20131201
PADUCAH, Ky. (11/27/13) — Gov. Steve Beshear released this statement about today’s Department of Energy action regarding future use of the Paducah Gaseous Diffusion Plant:
“Today’s news that DOE will begin negotiations with Global Laser Enrichment to consider operating a new laser enrichment facility at the Paducah Gaseous Diffusion Plant is a positive development in our long effort to ensure a promising future for the workers at that facility. This is a strong step toward energizing that sector of our economy, while providing economic stability and investment for the Paducah community”.
Nusa Dua, Bali (ANTARA News) – Indonesia has asked Japan, China and South Korea to be transparent about their mineral import requirements and provide guidance on the outlook for minerals to ensure market stability.
“Guidance on the outlook, such as the guidance for energy, is very important to maintain balanced supply and demand in the regions mineral and metal markets,” chairman of the ASEAN Plus Three Senior Officials Meeting on Minerals (ASOMM+3) R Sukhyar said here on Wednesday.
Read more at: http://www.antaranews.com/en/news/91606/indonesia-urges-nations-to-be-transparent-about-mineral-requirements
he Philippines plans to launch its fifth energy contracting round for exploration projects in the first quarter of next year, Ramon Allan V Oca, undersecretary at the Department of Energy, said Monday.
“As announced by [Energy] Secretary Carlos Jerico Petilla, PECR5 [Philippine Energy Contracting Round 5] will be launched sometime in the first quarter of next year,” Oca said.
He declined to clarify on the number of oil and gas as well as coal blocks to be offered in the bidding round.
Read more at: http://www.platts.com/latest-news/oil/hanoi/philippines-to-launch-fifth-energy-contracting-27666523
A new lithium-sulfur battery may now take the crown as the highest performing battery, lasting more than twice as long as lithium-ion-batteries.
Researchers at the U.S. Department of Energy’s Lawrence Berkeley National Laboratory (Berkeley Lab) have shown that lithium-sulfur (Li/S) batteries contain more than twice the energy of lithium-ion, and can last for more than 1,500 charge-discharge cycles. This battery may help to change the game in electric and hybrid vehicles.
Read more at: http://www.redorbit.com/news/technology/1113008932/lithium-sulfur-battery-next-big-thing-112013/
PERTH (miningweekly.com) – The exploration division of major Rio Tinto has sold off two coal exploration licences in Queensland to junior Mozambi Coal.
Mozambi paid Rio Tinto Exploration an initial cash consideration of A$375 000, and additional milestone payments of up to A$3-million were due upon the delineation of a measured resource in excess of 50-million tonnes, and upon the start of export shipments.
Read more at: http://www.miningweekly.com/article/rio-tinto-exploration-sells-queensland-licenses-2013-11-19
The Obama administration has named three new appointees at the Department of the Interior to oversee onshore and offshore oil and gas development, leaving a key opening at the agency that develops the five-year offshore leasing plan.
Janice Schneider was appointed assistant secretary for land and minerals management, where she would oversee all energy development activities. If confirmed by the US Senate, Schneider would supervise the Bureau of Land Management, the Bureau of Ocean Energy Management and the Bureau of Safety and Environmental Enforcement.
Read more at:
Vale SA (VALE:US), the Brazilian iron-ore producer seeking asset divestments to cut costs and boost profit, will sell as much as an 12 percent stake in aluminum-maker Norsk Hydro ASA (NHY) valued at about $1 billion.
Vale will sell as many as 224 million shares in Oslo-based Hydro in an offering and as many as 22.4 million additional shares via an over-allotment option, it said in a regulatory filing today. The Rio de Janeiro-based miner agreed not to sell any more Hydro shares for 180 days after the transaction.
Read more at: http://www.businessweek.com/news/2013-11-11/vale-to-sell-up-to-12-percent-stake-in-norsk-hydro-valued-at-1-billion
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