MINING.COM Staff Writer

Shell has signed an agreement with the Alberta and Canadian governments to ensure $865 million in funding is plugged into a project to capture and store some 1 million tonnes of CO₂ released from its upgrader near Edmonton. The facility processes heavy oil from the Athabasca oil sands and the Quest Carbon Capture and Storage (CCS) Project comes after Shell’s announcement to expand its 100,000 barrels a day Athabasca project to 255,000 barrels per day.

Zacks Investment Research on Monday, despite the excellent first-quarter 2011 results provided by Newmont Mining Corporation, downgraded its recommendation from Outperform to Neutral based on a number of challenges that the company faces at the Boddington mine. Newmont reported adjusted net income of $513 million or $1.04 per share, up from last year’s $408 million or $0.83. Total revenue was $2.5 billion, up 10% year over year.

The Sydney Morning Herald reports Fortis Mining chiefs Jitto Arulampalam and Frank Cannavo are clearly hoping to repeat history by moving into the boardroom of another exploration hopeful, Great Western Exploration. The duo have not only taken control of the board, but brought along some of their favourite Hong Kong backers from would-be Kazakhstan potash miner Fortis - Madam Cheung Kwai Lan, and Team Lucky.