Annual Report UK Coal Mining Company Loses £ 115m
The largest coal mining company owned by British state, UK Coal. UK Coal is a mining company develops coal mining exploration projects and development of mining properties. The last few years the UK coal mining companies faced technical problems and development of coal production at several mining sites.
UK Coal companies reported losses in 2009 reached 100 pounds. The company experienced losses before tax of £ 115m, compared to the year 2008 the company suffered losses of £ 15.7m. Analysts predict losses UK Coal mining companies will continue until early 2010. UK Coal mining companies would profit doubled in 2011, after a coal mine that would be explored to production. Read more
Mining Companies, Tibet Mineral Development To Develop Lithium Mining Project
Reported by Chinese news agency, Xinhua, mining company Tibet Mineral Development focus on developing lithium mining project in Salt Lake. Lithium mining project is estimated to have reserves of lithium carbonate to reach 2.4 million tons. The company plans to produce lithium carbonate in the first phase of 5,000 tons and the second phase of lithium production can reach 20,000 tons.
Tibetan mining company Mineral Development has hopes of becoming the largest lithium producer in China and became the main platform for restructuring the mining industry in Tibet.
Tibet Mineral Development Co is a mining company that has a 40 percent stake in mining company Shengyuan Mining Group Corporation. Mining company has several exploration projects of mining mineral resources. Read more
India’s Vedanta Considers Massive Company Split for Stock Exchange Listing
Indian mining company Vedanta Resources are said to consider a spin-off of several of its interests in five or six companies, and a parent, what would be one of the largest corporate customers break-up of a FTSE 100 so far.
Vedanta will retain a majority stake in all companies have separate stock market listings.
Several bankers Mining London was contacted to discuss plans for ads, according to the British newspaper The Independent.
She said not to reveal sources said the spin-off company Vedanta will simplify its structure and consolidate the various small farms results easier recovery in the market and increase the overall value.
Most spin-offs of ads will likely be in India and Hong Kong, London, is a strong contender for a couple of spinoffs, including ads. Read more
Today: Gold, Silver Prices in India
Silver zooms, gold declines
Mumbai, Jan 6 (UNI) Speculative demand today saw Silver zoom by Rs 310 to settle at Rs 28,285 per kg, while Gold declined by Rs 55 to Rs 16,805 per ten gm on sluggish demand from industrial users, traders at the Bombay Bullion Association (BBA) said.
The white metal has surged by Rs 900 in the last three days.
Silver opened at Rs 28,300 per kg, soaring by Rs 325 against its overnight close. At the end of the day, it stood at Rs 28,285 per kg with a gain of Rs 310.
Standard gold and Pure gold resumed down by Rs 25 per ten gm each. Later, this gap widened and Standard gold and Pure gold settled at Rs 16,805 and Rs 16,885, declining by Rs 55 and Rs 60 per ten gm respectively, traders added.
In London and Asian markets, Gold was quoted low at USD 1123.00/1123.02 per troy ounce and Silver was up a USD 17.90/17.92 per troy ounce from their previous close, traders said. Read more
Mining lithium from geothermal ‘lemonade’ by Elsa Wenzel
If Simbol Mining’s plans work out, within a decade it will deliver one-fourth of the world’s increasing demand for lithium, used in batteries of hybrid and electric cars without creating waste or pollution.
The start-up eventually aims to mine more than 100,000 tons of lithium carbonate each year from geothermal sources. That’s more than the current annual market for the compound; the company expects demands for it to quintuple by 2013.
Current mining methods won’t provide enough for the future need for lithium-ion batteries, according to Meridian Read more
Virginia Mining Company To Start Drilling Gold Mine In James Bay, Quebec
Virginia Mining Corp. is a mining company that has spread outside the drilling area in the Quebec region.
In near future Virginia Mining immediately begin drilling a gold mine in James Bay, Quebec. This mining company will drill six holes in a gold mine with an estimated drilling time for six months, the total area of 16,500 meters of drilling.
Gold mine drlling will be held at the company’s 100% owned Poste Lemoyne Extension, La Grande Sud, Lac Pau and Anatacau-Wabamisk project. Through partnership with Odyssey Resources, Virginia also plans to start drilling in the FCI Auclair and gold projects.
The Poste Lemoyne Extension property is host to the Orfee zone containing a resource of 88,588 tonnes grading 9.44 grams per tonne gold in the measured category and 114,895 tonnes grading 18.4 grams per tonne gold in the inferred category.
Drilling program will test several new gold performances found on the surface during the summer of 2008 and 2009 field programs. Drilling will include a minimum of 20 drill holes totaling more than 2,500 meters. The new Genesis gold values up to 52 g / t Au in taking samples and up to 20.98 g / t Au over 2 meters in the sample channel and spread across more than 37 kilometers along a corridor that contains gold.
In Virginia’s La Grande Sud project, the company has started eight hole program aimed at total of 2150 meters. La Grande Sud property is host to the 32 Zone gold-copper mineralization is reported at 4.2 million tonnes of 2.1 grams per tonne gold and 0.2% copper in the spring of 1999. Read more
