Mining and Exploration

Shareholders in Dana Petroleum are attempting to force the UK-based oil explorer to open takeover talks with South Korean suitor Korea National Oil Corp (KNOC), according to reports.

The Financial Times has reported that Schroders, Dana's biggest shareholder with a 13 per cent stake, has urged its board to engage with KNOC over its £1.67 billion indicative offer.

De Beers, the name synonymous with diamonds, reported increased earnings for the six months ended June 30, with both sales volumes and prices increasing significantly following an increase in demand for rough diamonds.

In a statement released today, De Beers reported net earnings of $301 million, up from $3 million a year ago. Production increased by 133 percent to 15.4 million carats and sales of rough diamonds were up 84 percent to $2.6 billion.

Mining group African Minerals has signed a deal with a Chinese steelmaker for a $1.5 billion (£989 million) investment that will help it develop what could be the biggest iron ore mine in the world.

The memorandum of understanding which has been signed with Shandong Iron & Steel—one of the world's largest mill operators—is subject to due diligence and the two parties agreeing a discount for the iron ore produced.

BP has announced it has fitted a larger, tighter containment cap on the ruptured Gulf of Mexico wellhead that has been leaking oil since the Deepwater Horizon explosion in April.

The company will test the new cap's internal pressure shortly by closing its valves. If successful, the company hopes the new cap will stem the flow until more permanent measures can be taken.

Last year, international exploration and development company Tullow Oil discovered significant oil resources in the environmentally sensitive remoteness of East Africa. General manager Dr Brian Glover talks to Gay Sutton about the importance of this discovery, and the challenges it presents.

Simcoa Operations is one of the world’s leading producers of silicon. Vice president Jim Brosnan tells Jane Bordenave how a dedication to efficiency and zero waste has helped it get there.

South African phosphate mining and processing group Foskor gave its name to foskorite—but ironically, it is no longer mining that ore as it refocuses its strategy and resources. John O’Hanlon speaks to the VP of Mining, Johan Horn.

Timberline Resources is an emerging gold producer and a junior gold exploration company with a business model that includes a predictable cash flow, David Hendricks reports.

Seahawk Drilling plans to soar to international status within a few years. COO Kurt Hoffman talks with April Terreri about the shallow-water drilling company.

Sage Gold is in transition from an exploration company to a production company. President and CEO Nigel Lees explains the significance of the change to April Terreri.