Mining and Exploration

Abingdon, Virginia-based Alpha Natural Resources has reported a tripling of net profits to a total of $49.8 million for the first quarter of this year, up from $14 million for the same period a year ago.

Total revenues in the first quarter were $1.1 billion compared to $922.0 million in the same period of 2010. Coal revenues totalled $987.0 million—up 19 percent from $831.3 million a year ago.

London-based Kalahari Minerals has said it remains confident that its relations with Namibia’s government and its investment in the country will continue, despite proposed changes that could see all mining and mineral exploration permits issued to the state-owned mining company, Epangelo.

The proposed changes, outlined by Namibian Mines and Energy minister Isak Katali, are being considered to ensure Namibian citizens receive more benefit from the country’s mineral wealth. Namibia is the world’s fourth-largest producer of uranium.

Zinkgruvan, the southernmost base metal mine in Sweden, celebrated the end of 2010 with a double whammy: the completion of two vital projects.

Dorian Wrigley, COO of mining investment company Village Main Reef, talks to Jayne Flannery about the importance of innovation versus tradition in the company’s strategic approach to its asset portfolio.

Coal has a much bigger role to play in South Africa’s future than simply meeting the country’s energy requirements. Selim Kaymak, executive director of Sumo Coal, talks to Jayne Flannery.

Coal is fundamental to the South African economy. It is the main energy source for domestic use and a rapidly growing export revenue stream in response to demand from energy hungry nations like India and China, as well as South Africa’s neighbours in the region.

Toronto-based Barrick Gold, the world’s largest gold miner, is building up its copper portfolio with an agreement to acquire copper producer Equinox Minerals.

Equinox has two primary assets, the Lumwana mine in Zambia (100 per cent owned) and the Jabal Sayid development project in Saudi Arabia (70 per cent owned, but Equinox is in the process of acquiring the remaining 30 per cent).

Express Integrated Technologies, a US-based manufacturer of heat transfer and combustion engineering equipment for the energy exploration industry, has today opened a Canadian office in Calgary, Alberta.

A new company, Express Integrated Technologies Canada, Ltd, has been created to provide technical expertise, aftermarket support and business development personnel to support the ongoing oil sands recovery projects using EIT's once through steam generators (OTSGs).

Gold Fields has agreed to buy an 18.9 per cent stake in the Tarkwa and Damang gold mines in Ghana from IAMGOLD Corporation for $667 million.

The acquisition will increase Gold Fields’ interest in both mines from 71.1 per cent to 90 per cent. The remaining 10 stake is held by the government of Ghana.

In 2008, things looked very uncertain for mining company Weatherly Plc. However, as CEO Rod Webster tells Jane Bordenave, overcoming a crisis has led to even greater opportunities.

Weatherly Plc is a British-based copper mining company working primarily in Namibia. It has two mining projects currently in operation—Otjihase and Matchless—both located in central Namibia; and a further two in the north of the country expected to come into production within the next three or four years.

When the Canadian/Australian minerals company Equinox Minerals Limited ventured into Saudi Arabia, it knew little about the region. Just a few months on it’s becoming clear that it made the right decision, though, as Robert Rigo, vice president of project development, told John O’Hanlon.