More consolidation likely in oilsands
News reports that India’s biggest oil producer, Oil & Natural Gas Corp. (ONGC) is negotiating to buy a 100% interest in an unidentified mid-sized Canadian oilsands company has unleashed a flood of…
Articles by Northern Miner Staff
EXCHANGE RATES (June 02, 2008)
CANADIAN/U. S. EXCHANGE (Bank of Canada noon rate) Date May 26 May 23 May 22 May 21 May 20 US$ in C$ 0.9896 0.9883 0.9861 0.9844 0.9930 C$ in US$ 1.0105 1.0118 1.0141 1.0158 1.0070…
Mega projects facing mounting costs
Developing Canada’s oilsands is far more complex and expensive than conventional oil and gas production. Multibillion-dollar upgraders are needed to convert the raw bitumen, a heavy, viscous material,…
Greens and nationalists draw North-South lines in oilsands
VANCOUVER — Alberta and Venezuela host most of the world’s heavy oil deposits, with both areas containing recoverable reserves comparable to those of Saudi Arabia. But given the choice between invest…
DIVIDENDS (June 02, 2008)
Note: Xstrata will pay its pref sh series 3 div of $0.2862 on June 2, rec May 15. Vale will pay $0.52* on common and pr sh to be paid in two instlmnts on Apr 30 and Oct 31. Alcoa will pay $0.9367* per…
INTERNATIONAL QUOTES (June 02, 2008)
Australia (A$) May 27 May 20 Change Bendigo Mining 0.31 0.32 -0.01 Centamin Egypt 1.42 1.44 -0.02 Croesus Mining 0.33 0.30 0.03 Kingsgate Cons. 5.62 5.60 0.02 Lion Se…
Coalcorp raises $120M for ‘streamlined growth’
VANCOUVER — After a strategic review prompted by an unsolicited takeover offer, Coalcorp Mining (CCJ-T, CCJMF-O) is planning to ramp up production at its La Francia coal mine in Colombia to 6 million…
LME WAREHOUSE LEVELS (June 02, 2008)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, May 27, 2008 (change from May 20 in brackets):
Strait Gold expands grassroots exploration in Peru (June 02, 2008)
Hoping to one day fill a void left by major companies, Peru-focused Strait Gold (SRD-V, SAIDF-O) has grown from one to four early-stage projects since going public in fall 2006.
Higher input costs will squeeze margins, Citigroup says
Despite rising costs, mining companies will still be able to deliver “sustainably higher” earnings before tax and depreciation (EBITDA) margins over the next five years than they have over the past 20…
EnCana narrows its focus with oilsands spinout
For EnCana (ECA-T, ECA-N), being big had its disadvantages.
Recovering stranded bitumen
There is a way to access stranded bitumen resources while at the same time improving reclamation performance — that’s what mining engineer Howard Keele would like to prove with a conceptual technolog…