Jinshan Gold Mines changed its name to China International Gold Resources Corp Ltd
gold
As of 17 June 2010, Mr. Xiang Dong Jiang was chosen as a director of the Company. Mr. Jiang is also a management capacity as the vice-president of production. Read more
Songzai International Holding Group Announces 2010 First Quarter Results
Songzai International Holding Group, Inc. (OTCBB: SGZH), a leading Chinese coal production and exploration in the PRC, announced today ‘ Today’s financial results for the first quarter ended March 31 December 2010.
For the three months ended March 31 August 2010 as the company reported revenue of 12.56 million compared to $ 20,760,000 dollars for the same period of 2009, a decrease of approximately 40%. The decrease in sales was primarily attributable to reduced production of Xing An mines as a result of the Mine Maintenance and renovation projects that began in late 2009. Projects should be completed in July 2010. The Company expects that these improvements increase mine efficiency and reduce costs by improving its growth and profitability of the mines once again. Read more
South Korea Interested to Invest Oil Exploration Project in Ghana
Ghana’s largest oil field, the Jubilee oil field has been up for grabs, and oil majors from across the world are falling over each other to grab it. And now it is the South Koreans.
Since Komos Energy put up their stake in the Jubilee field for sale, Ghana has been in the spotlight, as major oil companies including state-owned companies shove each other aside to acquire the stake.
In July 2009, the Indian state-run Oil & Natural Gas Corporation (ONGC), expressed interest in buying Kosmos Energy’s stake in the field.
And then in August 2009, the Chinese revealed their interest in the field. The China National Offshore Oil Company (CNOOC) showed keen interest in buying the stake. The Chairman of CNOOC, Fu Chengyu told the Reuters news service that China was bidding for the stake. “We are participating in the bid,” he was reported to have said. The bid was put at $3 billion to $5 billion.
In the heat of the melee, speculations became rife that Ghana favoured a China deal.
But in October 2009, Kosmos agreed to sell the stake to its Texas neighbour, US oil giant ExxonMobil for a $4 billion deal.
The ExxonMobil deal however was never sealed because it required the approval of the government of Ghana. The government declined to approve the deal because, it said Kosmos broke the law when it opened its data room to ExxonMobil against the established law that says that partners in the field must be given the first option to buy if one decides to sell. 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
Closing of Non-Brokered Private Placement
Minco Gold Corporation is pleased to announce that Minco Gold has closed the non-brokered private placement financing previously announced on September 24, 2009. The financing placed 5,000,000 common shares in the capital stock of the Company at a price of $0.88 per share for gross proceeds of $4,400,000 with IDG-Accel China Growth Fund II L.P. and IDG-Accel China Investors II L.P. IDG-Accel Fund acquired, indirectly through Blue Sky Strategic Holdings I, Ltd., ownership of 4,622,000 common shares, and IDG-Accel Investors acquired, indirectly through Blue Sky Strategic Holdings II, Ltd., ownership of 378,000 common shares. Read more
Acquisition of Derby Salt Pty Ltd
Sirius Exploration Plc announces that it has acquired 100percen of the ordinary shares.in Derby Salt Pty Ltd for a consideration of £13,000,000. This consideration has been satisfied
by Derby Salt’s shareholders accepting 100,000,000 new Ordinary Shares of 0.25p in Sirius.at a price of 13p per share. Following completion of the transaction, Sirius will have an issued share capital
of 600,730,150 Ordinary Shares. Read more
