Mining and Exploration

John Adom, managing director of Balfos Ltd, talks to Jayne Alverca about the company’s diverse product and sales offering as a single supply source to some of West Africa’s leading mining and industrial operations.

Since 1995, when the company was incorporated in Ghana, Balfos Ltd has developed and enhanced its sales and service operations to become a single supply point for three of West Africa’s largest mining, industrial and construction countries (Ghana, Guinea and Côte D’Ivoire).

Lindsay Shankland, MD of Manitou, the market leader in rough terrain handling solutions, talks to Jayne Alverca about getting a handle on the heaviest loads in the most awkward places.

It sounds like a young boy’s dream come true: asingle Manitou telescopic handler can lift, dig, load, clean, scoop, tow and carry. But these are not toys for boys. Manitou’s name may be synonymous with versatility, but its range of rough terrain handling equipment is destined for the most demanding applications that industry has to offer.

Royal Dutch Shell is receiving bids for stakes in four of its Nigerian oil fields, according to a report by Bloomberg.

Companies bidding include Essar, Afren and Perenco, said the report. Essar is bidding with Nigeria’s Energy Equity Resources, and French company Perenco has teamed up with Switzerland’s Addax & Oryx Group and Oando. The UK’s Heritage Oil is also said to be bidding alongside the Nigerian contractor Shoreline Energy International.

Private equity firms are also thought to have expressed interest in the stakes.

Low-cost gold producer Goldcorp today signed a collaboration agreement with local communities in northern Quebec regarding the development and operation of its Eléonore gold project.

The signing ceremony, involving the Cree Nation of Wemindji, the Grand Council of the Crees (Eeyou Istchee) and the Cree Regional Authority, took place in Wemindji, Quebec.

Global mining and oil & gas giant BHP Billiton announced $10.5 billion profits for the final six months of 2010, a 71.5 per cent increase on the previous year. Half yearly revenue rose 39 percent to $34.1 billion.

Agnico-Eagle Mines has reported net income of $88.0 million ($0.53 per share) for the fourth quarter of 2010, compared with $47.9 million ($0.31 per share) in the same quarter last year.

2011 will see Taggart South Africa emerging as a one-stop-shop for bulk materials handling projects for all southern Africa’s mining projects, plus the ability to offer full EPC and EPCM services to its clients.

After the acquisition of Mexico’s San Dimas mining properties from Goldcorp, the company is well on the way to achieving its ambition to become a leading intermediate gold producer.

Primero Mining Corp. is a Canadian-based precious metals producer with every intention of becoming a leading intermediate gold producer, as attested by its acquisition from Goldcorp of the San Dimas gold/silver mine in Mexico last year, for a total consideration of $500 million.

Innovation is part of company DNA at Marcotte Mining Machinery. General manager Denis Rienguette tells Gay Sutton how customization and R&D help the company stay ahead in this volatile industry.

As Canadian mining companies continue to prosper from high mineral prices, more technically-challenging mining projects have become attractive. Andy Keough at Manroc Developments tells Andrew Pelis how the Ontario-based contractor is enjoying its own boom as a result of its specialty mining services.