Pathway Mining 2009 Flow-Through Limited Partnership
Pathway Mining 2009 Flow-Through Limited Partnership (the “Partnership” or “Pathway Mining 2009 FTLP”) reports that it has completed a second closing of its Initial Public Offering (the “Offering”) and raised total gross proceeds of $1,988,620 on the sale of an aggregate of 198,862 limited partnership units at $10.00 per unit pursuant to a Final Prospectus dated March 16, 2009, which is available on SEDAR at www.sedar.com. Wellington West Capital Inc., HSBC Securities (Canada) Inc., Burgeonvest Securities Limited, Canaccord Capital Corporation, Raymond James Ltd., GMP Securities L.P., Research Capital Corporation, Integral Wealth Securities Limited and Argosy Securities Inc. acted as agents in the Offering, with Wellington West acting as the lead agent.
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Large equipment fleet represents significant parts and service opportunity
Finning achieved a significant milestone today with the delivery of the 200th Caterpillar 797 off-highway truck in Canada. The Caterpillar 797, one of the world’s largest mining trucks, was first introduced in 1999. While it took Finning eight years of steady growth to reach the 100th truck delivery mark, it has taken only an additional two years to double the 797 fleet.
“Delivering 200 Caterpillar 797 trucks in ten years is a significant achievement. It demonstrates both the exceptional quality of the Caterpillar product and our employees’ commitment to providing great product support,” said Mike Waites, president and chief executive officer for Finning International Inc. “The rapid growth in mining equipment sales over the past two years surpassed our expectations. The resulting large fleet of machines represents the foundation for Finning to grow our parts and service business while maximizing productivity and operating efficiency for our customers.” Read more
Thermo Fisher Scientific Helps Constellation Energy Comply with Healthy Air Act
hermo Fisher Scientific, the world leader in serving science, today announced that Constellation Energy, the nation’s largest wholesale power seller, will install six Thermo Scientific Gamma-Metrics analyzers as part of its effort to comply with the Maryland Healthy Air Act. The Thermo Scientific Coal Quality Monitor (CQM) and Elemental CrossBelt Analyzers (ECA) will analyze the sulfur content in coal delivered to three power plants to ensure Constellation does not exceed acceptable limits.
The Maryland Healthy Air Act, which imposes strict limits on sulfur dioxide emissions, sets a new standard for the nation’s environmental regulations. The Thermo Scientific analyzers will help enable Constellation Energy to conform to these new restrictions and further demonstrate their commitment to environmental responsibility. Constellation Energy’s unique compliance plan, built around the Thermo Scientific Gamma-Metrics analyzers, also optimizes short-term economics, fuel utilization and plant availability. Read more
Mining firms lose FTSE 100 place
The sharp fall in commodity prices has seen several related firms relegated from the FTSE 100 index of the UK’s largest publicly listed companies. Mining firm Lonmin, silver miner Fresnillo and oil services firms Petrofac and Wood Group will all drop out, along with Stagecoach. Home Retail Group, Tate & Lyle and insurer Amlin will replace them. Business services company Serco Group and gold miner Randgold Resources also move into the top flight. The changes will come into effect from the start of trading on 22 December.
The demotions and promotions are based on falling or rising market value, and are reviewed every quarter.
Surprise
The relegation of several mining firms comes as commodity prices have fallen on concerns about global demand.
Anglo-African platinum miner Lonmin saw shares tumble after rival mining group Xstrata abandoned its £5bn ($8.9bn) bid.
Transport group Stagecoach, which operates buses and trains, had been doing well, but has warned that job losses will hit its commuter train business.
Some observers were surprised that Argos-owner Home Retail Group had managed to step back into the FTSE 100, given the pressure on retailers.
The FTSE 100 components form the basis of many pension and investment funds, so a promotion to the index often boosts a company’s share price.
Meanwhile, several household names will lose their place in the FTSE 250
Falling house prices and the soaring cost of debt have placed Taylor Wimpey under increasing pressure, pushing its share price down 95% from last year.
Meanwhile newspaper groups Trinity Mirror, Johnston Press and Mecom will also be relegated after their values slumped.
Mining Communities Get Alternative Means of Livelihood
A total of 1,063 farmers registered in five communities in the Prestea Huni-Valley District have so far cultivated 5, 878 acres of oil palm as part of efforts to improve the economies of mining communities to ensure sustainability during and after mining activities.
The Alternative Livelihood Project (ALP) was the result of a study carried out under the World Bank Sponsored Mining Sector Development and Environment Project as a pilot one which if successful will be replicated in other mining communities.
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Project to Determine Suitability of Site Near Dublin Bay for Carbon and Gas Storage Facility, an Industrial Info News Alert
Researched by Industrial Info Resources (Sugar Land, Texas) — Irish oil and gas development company Providence Resources plc (ISE:PRR) (Dublin) announced this week the creation of a 50:50 joint venture with Star Energy Group plc (London). The joint venture will evaluate the suitability of the Kish Bank, off Dublin Bay in the Irish Sea, for a carbon and gas storage facility. A similar carbon storage project has been in operation in the Norwegian North Sea since 1996. The project is operated by StatoilHydro ASA (STO – News) (Stavanger, Norway) and was designed to offset carbon tax liabilities. Read more
