Mining and Exploration

Det norske has entered into an agreement with Talisman Energy to acquire 10 per cent of the PL438 in the Barents Sea.

The licence contains the Skalle prospect, operated by Lundin Petroleum. Lundin will drill Skalle in June this year, using the Transocean Leader drilling rig.

The deal is set to strengthen Det norske's existing position in the Barents Sea.

EnviroGold has blended a unique technical process, Australian business and mining expertise and an effective resource development strategy to create the promise of profit, as John O’Hanlon discovers.

Deepwater drilling has recommenced in the Gulf of Mexico for the first time since the drilling moratorium was imposed in June after the BP oil disaster.

Although the moratorium was officially lifted last October, Noble Energy is the first to receive a permit to resume drilling at its Santiago prospect in the deepwater of the Gulf of Mexico.

Across Southern Africa the economic downturn has hampered efforts to build crucial infrastructure, resulting in power shortages across the region at a time when demand for power continues to escalate. Being no stranger to this scenario, Botswana is now turning to companies like Asenjo Energy to utilise its vast quantities of coal. Chief operating officer Malcolm Campbell talks to Andrew Pelis.

Newmont Mining, the world’s largest producer of gold, announced record results today for the year ended 31 December 2010.

Revenue of $9.5 billion represents a 24 percent increase over 2009. Gold and copper production came in at 5.4 million ounces and 327 million pounds, respectively, with gold production up only slightly while copper production was up almost 44 percent over 2009.

In Q4 2010 Newmont produced 1.4 million ounces of gold and 74 million pounds of copper.

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.