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SMC Global Power to Acquire Two Coal Power Plants for $1.8 Billion, Philippines
January 4, 2018
SMC Global Power, part of Filipino conglomerate San Miguel Corporation has signed agreements to acquire two coal power plants of 965MW capacity and a 10MW energy storage project in Philippines for $1.855bn. The sellers are US-based power company AES and
Newmont Mining to Benefit from New GOP Tax Bill
December 28, 2017
Newmont Mining Corp. said there will be at least one effect on its balance sheet as the result of the recent passage of a new GOP tax bill. The Colorado mining giant said in a Friday filing with the Securities
Newmont Mining Sees Gold Production Rising, Costs Improving
December 28, 2017
Newmont Mining Corp. on Wednesday raised its outlook for gold production next year while lowering its expected costs. The Denver-based miner said gold costs applicable to sales will fall between $700 and $750 an ounce in 2018. The company had
Glencore and Apollo Bid for Rio Tinto’s $1.5 Billion Coal Assets
December 22, 2017
Glencore and a group led by Apollo Global Management are among bidders set to be shortlisted for the sale of Rio Tinto Group’s last remaining coal mines, which may fetch more than A$2 billion ($1.5 billion), people familiar with the
Coal India Awards Coal Contracts to Ten Power Plants that Won Auction
December 22, 2017
The board of directors of Coal India on Wednesday cleared the decks for awarding coal contracts to 10 power plants that won the supply in an auction held in September. “Auction of coal linkages to independent power producers having long-term
Rio Tinto to Expand Automation in Pilbara Operation
December 21, 2017
The Sydney Morning Herald reported that miner Rio Tinto will significantly expand automation at its Pilbara iron ore operations with the retrofitting of 48 giant haul trucks with autonomous technology over the next two years, as part of a wide
UK Coal Industry Still Burning Abroad Despite Push for Global Ban
December 21, 2017
Reuters reported that Britain led calls for an end to coal fired power generation at United Nations climate talks in Bonn last month but at the same time British companies are active in coal projects around the world, often with
Finning International South America Operation Secures Mining Contract with Lundin Mining in Chile
December 21, 2017
Finning International Inc announced that South American operation has been awarded a multi-year mining contract by Lundin Mining Corporation to deliver new equipment and product support to the Candelaria copper mines in northern Chile. Finning will supply nearly 70 pieces
Alrosa Recovers Huge Yellow Diamond from Yakutia Mine, Republic of Yakutia
December 21, 2017
The world’s largest diamond producer by output, Alrosa announced the recovery of a large gem-quality diamond of 98.63 carats from its historic Jubilee (Yubileynaya) pipe, located in the eastern Republic of Yakutia. The octahedron crystal has inclusions of olivine, graphite
709 Carat Diamond Found in Sierra Leone Sells for $6.5 Million
December 21, 2017
Officials say a 709-carat diamond found in Sierra Leone has been sold for more than $6.5 million. The diamond is said to be the 14th-largest ever discovered, according to the Rapaport Group, which auctioned the stone in New York on
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