KBR announced on Monday it was awarded a contract by China National Coal Group Corp. to provide ammonia technology, process design package and technical services for two 1660 metric tons per day ammonia synloop units at China National Coal in Inner Mongolia, China
De Beers Diamond Jewellers, the ultimate destination for diamond jewellery, is delighted to announce the opening of its new store in Almaty, Kazakhstan. The De Beers store is located on Bogenbai Batyr, 125 in Almaty – the premier shopping location for luxury brands. The Almaty store will be operated by Premier Metro Group, whose core business is the retail and distribution of luxury goods including jewellery, watches, cars, high-end mobile phones as well as fine wines.
Green Technology Solutions, Inc. (OTCQB:GTSO) continues preparations to send core samples from three Mongolian rare earth mining sites to South Korea for analysis as prices on heavy rare metals more than double due to China’s tightening control of rare earth mining, production and exports. U.K.-based trade publication Industrial Metals reported last week that rare earth minerals dysprosium oxide and europium oxide, used in high-tech applications from nuclear reactors to smartphones, rose by more than 100 percent since the beginning of the month.
Rentech, Inc. (NYSE AMEX: RTK) today announced that Rentech Energy Midwest Corporation (REMC), its wholly-owned nitrogen fertilizer subsidiary, closed $150 million of debt financing.
Westmoreland Coal Company (NasdaqGM: WLB) announced today that its Board of Directors has declared a dividend of $0.53125 per depositary share payable on July 1, 2011 to holders of record as of June 20, 2011. Each depositary share represents one-quarter of a share of the company’s Series A Convertible Exchangeable Preferred Stock. Westmoreland Coal Company is the oldest independent coal company in the United States. The company’s coal operations include coal mining in the Powder River Basin in Montana and lignite mining operations in Montana, North Dakota and Texas. Its power operations include ownership of the two-unit ROVA coal-fired power plant in North Carolina. For more information, visit www.westmoreland.com.
Westmoreland Coal Company (NasdaqGM: WLB) announced today that its Board of Directors has declared a dividend of $0.53125 per depositary share payable on July 1, 2011 to holders of record as of June 20, 2011. Each depositary share represents one-quarter of a share of the Company’s Series A Convertible Exchangeable Preferred Stock.
Casablanca Mining announced today that its wholly-owned subsidiary, Santa Teresa Minerals, S.A., signed an agreement to acquire interests in a hard rock gold mine in Rancagua, Chile. Once the transaction is completed, Santa Teresa Minerals will own 70% of the mining rights to the property.
Gold–Ore Resources Ltd. (TSX:GOZ) today released Second Quarter (ending May 31, 2011) production results for the 100% owned Bjorkdal Gold Mine in Sweden. During the second quarter the mine produced 11,131 ounces of gold, an increase of 11% over the first quarter; during the month of May the mine set a new monthly gold production record of 4,208 ounces. The company projects 2011 gold production at 44,000 to 46,000 ounces.
Evergreen Energy and WPG Resources establish Southern Coal Holdings (SCH) to produce K-Fuel in the Pacific Basin Region | Business Wire
Evergreen Energy Inc. (NYSE Arca: EEE) announced it has completed the formation of its venture with WPG Resources (ASX: WPG), an Australian listed mineral resources company, to jointly develop and produce K-Fuel®, Evergreen’s coal upgrading technology, throughout Australia. This agreement was foreshadowed in the memorandum of understanding announced by Evergreen on February 2, 2011.
WellDog announced today that it has closed on $5,000,000 in new debt and equity financing to support its continued expansion. The round was led by Simon Ashton and his strategic investment company, ProX Pty Ltd, and included participation by members of Sacramento Angels, Houston Angels, and some of the successful entrepreneurs behind Pure Energy, as well as expanded investment from the Brisbane Angels.
Western Potash announced that the Company has received conditional approval for the listing of its common shares on the Toronto Stock Exchange. Upon filing and acceptance of the final listing application and related documentation, the Company’s shares will commence trading on the Toronto Stock Exchange and be de-listed from the TSX Venture Exchange.
Molycorp, Inc. (NYSE: MCP), the Western hemisphere's only producer of rare earth oxides, today announced that, subject to market conditions, it intends to offer $200 million principal amount of its Convertible Senior Notes due 2016 (the “Notes”) in an offering exempt from the registration requirements of the Securities Act of 1933. The Notes are being offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. In addition, Molycorp intends to grant the initial purchasers of the Notes an option to purchase an additional $30 million principal amount of the Notes.
The overall production volume for stainless steel is forecast to amount to around 3m tonnes at the end of 2011 which will increase demand for nickel demand on the global market according to Merchant Research & Consulting. In accordance with increased demand supply will rise relatively quickly from newly planned and on-launch projects leading to a surplus in 2012 and 2013.
United States Magnetic Materials Association: Defense bill calls for a competitive, multi-source rare earth inventory plan
The United States Magnetic Materials Association (“USMMA”), a trade association dedicated to restoring a competitive, secure, end-to-end rare earth supply chain to support the domestic manufacturing of rare earth permanent magnets, welcomes the inclusion of important and timely rare earth-related language in the Fiscal Year 2012 National Defense Authorization bill (H.R. 1540) that was passed by the House Armed Services Committee last night. The USMMA lauds the leadership of Representative Mike Coffman (CO-6), whose amendment recognizes current supply-chain vulnerabilities, focuses the Department of Defense on establishing an inventory of required materials, and encourages domestic manufacturing in this critical area.
U.S. number three coal producer and supplier of some 4% of the country’s electricity announced a successful $297.7m bid for an additional tract at its Antelope mine in Wyoming. The new lease would add approximately 350m tons of mineable coal to Antelope, doubling its reserves and adding 12 years of production. The U.S. Bureau of Land Management also recently announced a June 15, 2011 sale date for the West Antelope II South Coal Tract, which contains approximately 56 million mineable tons, according to BLM estimates.
Colorado Rare Earths reports analytical results delivering high contents of heavy rare earth elements
Colorado Rare Earths announced today that initial sampling during claim staking has returned high levels of the Heavy Group Rare Earth Elements (HREE). The results, based on grab samples from the Company’s claims at Iron Hill, a.k.a. Powderhorn, and Wet Mountains locations in Colorado, were analyzed by Actlabs, www.actlabs.com, of Ontario, Canada. A United States Geological Survey report, released in December 2010, “The Principal Rare Earth Elements Deposits of the United States,” identified the Iron Hill Complex and Wet Mountains Area as the only two rare earth elements deposits located in Colorado.
Reliance Steel & Aluminum Co. (NYSE:RS) reported today its financial results for the first quarter ended March 31, 2011. For the 2011 first quarter, Reliance reported net income of $92.3 million, up 107% from 2010 first quarter net income of $44.7 million, and up 134% from $39.5 million in the 2010 fourth quarter. Earnings per diluted share were $1.23 in the 2011 first quarter, up 105% from 2010 first quarter earnings per diluted share of $.60 and up 132% from $.53 for the 2010 fourth quarter. Sales for the 2011 first quarter were $1.91 billion, up 32% from 2010 first quarter sales of $1.45 billion, and up 21% from 2010 fourth quarter sales of $1.58 billion.