IRJ – December 8 – London-listed mining giant Vedanta Resources PLC (VED.LN) has completed on its US$8.67 billion acquisition of a stake in Cairn India; the subsidiary of Scottish oil and gas giant Cairn Energy. It is the biggest M&A deal India’s energy industry has ever seen and the third largest acquisition ever by an Indian group on a global ...
IRJ – December 8 – The head of the National Iranian Oil Company (NIOC) Ahmad Qalebani, told press on the sidelines of the Doha-held World Petroleum Conference that his nation plans to up its current 3.5 million barrels per day (bpd) oil output to 5.1 million bpd by 2015, Thursday. “Currently, we are producing 3.5 million bpd, while our ...
IRJ – December 7 – Privately owned coal giant Peabody Energy Corp. ("Peabody") announced that it has purchased a 5.1 per cent stake in major Chinese coking coal importer Winsway Coking Coal Holdings Ltd., Wednesday. Peabody has purchased its equity through buying up a series of Winsway shares on the Hong Kong Stock Exchange. The deal, according to press ...
IRJ – December 7 – Canadian miner Anaconda Mining Inc. (TSX: ANX) has sold off Chilean iron ore assets worth up to an estimated US$11 billion (deal terms depending) to private Chilean vehicle Hierro Tal Tal S.A (“Tal Tal”). In conducting the sale—which involves up to $11 billion in cash payments, a gross sales royalty and a 1.25 per ...
IRJ – Dec 6 – Major oil producers are concerned that the extraction of “easy oil” is coming to an end, and are now having to look at higher complexity extraction procedures. At the World Petroleum Congress in Doha, Mohammed Bin Dhaen al-Hamli—oil minister for the United Arab Emirates—said that his country was “firmly committed” to maintaining its strong position ...
IRJ – Dec 6 – Afghanistan has opened bids on billions of dollars worth of copper and gold deposits in four areas of the country that together are nearly half the size of the Grand Canyon. Geologists have been aware of the vast deposits of iron, copper, cobalt and gold in Afghanistan for decades, and despite ongoing violence, the country ...
IRJ – December 5 – Oil refiner Tupras, of Turkey, has called time on its Syrian oil purchase contract and become the latest multinational petroleum player to exit the country in the wake of new trade sanctions imposed by the European Union last week. Tupras CEO Yavuz Erkut told press that the company chose to pull out of Syria, ...
IRJ – December 5 – what began with violent protest outbursts over local reception to gold multinational Newmont Mining Corp.’s US$4.8 billion Conga project, in the Cajamarca region, escalated as Peruvian President Ollanta Humala declared a 60-day state of emergency over the nation’s mining sector, Monday. “Using my constitutional powers, I introduce a state of emergency in the provinces ...
IRJ – December 2 – The government of Peru, under the charge of ex army officer President Ollanta Humala, has announced that the country’s military forces will be given greater public cause responsibilities including cracking down on illegal mining. The government has already granted powers to the armed forces on a variety of other social issues. Most notably, fronts ...
IRJ – December 2 – Oil and gas multinational Royal Dutch Shell has announced plans to stop its Syrian operations following fresh European Union sanctions imposed on the government of President Bashar al-Assad, Thursday. “We will cease activities in line with the sanctions and our priority is the safety of our staff,” company spokesperson David Williams said on a ...
IRJ – December 2 - AIM-listed iron ore mid-cap London Mining PLC (LOND) (“London”) has announced the commencement of production from its 100 per cent-owned Marampa hematite iron ore project in Sierra Leone, Friday. Telling reporters that first shipment is on track to take place before the year-end, chief executive Graeme Hossie said that the news “is very significant ...
IRJ – December 1 –A high level meet staged by European Union leaders may have resulted in tighter sanctions for 37 people and 143 entities of Iran, but it has failed to turn up an agreement to move ahead on an oil embargo on the country as fears abound that it may be developing nuclear weapons capabilities. Among the ...
