Page 114 – London Mining Network

African Barrick Gold tumbles on failed deal with Chinese

Jan 18, 2013 | News

Shares in African Barrick Gold went down a mineshaft, losing a fifth of their value in one day, after talks failed to sell a majority stake in the London-listed miner to a Chinese group. In a press release, the company announced that state-owned China National Gold...

2013 – A Crunch Year for Coal and the UK Coal Industry

Jan 18, 2013 | News

Press Release from Loose Anti-Opencast Network (LAON) In 2012, coal as source of energy for power generation purposes has gone through a period of resurgence. Recent statistics from the Department of Energy and Climate Change show a near 50% increase in the use of...

Protesters mob Vedanta HQ as verdict deferred again

Jan 12, 2013 | News

Protests were held in London and New York in solidarity with Dongria Kondh Indigenous People resisting Vedanta’s plans to mine the sacred Niyamgiri Hills in India. Click on image for more.

Vedanta found guilty of grave safety breaches in India

Jan 4, 2013 | News

Vedanta Resources plc has been found guilty of flagrant breaches of health and safety regulations in the faulty construction of a power plant chimney which collapsed, burying at least forty workers alive. The disaster – one of the worst in recent Indian...

Is Vedanta poised on the brink of failure?

Jan 4, 2013 | News

For years, Vedanta Resources plc has been thwarted in gaining access to the Nyamgiri bauxite deposit in Orissa; meanwhile it has suspended alumina output from the adjacent Lanjigarh alumina refinery. The company has consistently failed to persuade Kondh tribal...

How did Vedanta grab India's richest oilfields?

Jan 4, 2013 | News

London-listed Vedanta Resources is about to pounce on India’s richest oil fields, with full permission of its central government and against the wishes of state-owned oil and gas conglomerate, ONGC. In 2011, Vedanta bought Cairn India from Scotland-based Cairn...

Protesters ask GCM Resources' Asia Energy to remove offices in Phulbari by March 30

Jan 4, 2013 | News

The organisations challenging plans for opencast mining at Phulbari in Bangladesh by Asia Energy (owned by London-based GCM Resources) gave an ultimatum on Tuesday to withdraw its local offices by March 30. The local unit of the National Committee to Protect Oil, Gas,...

City Diary: Santa visits GCM Resources, but investors are left wanting

Jan 4, 2013 | News

Where now for GCM Resources’ controversial mining project in Bangladesh, after a protestor dressed as Santa Claus stormed the company’s pre-Christmas AGM and deposited a stocking full of coal in the lap of chairman Gerard Holden? See...

Rogue trade: Things just got a whole lot worse for Rothschild-Bakrie's Bumi venture

Jan 4, 2013 | News

Indonesian coal miner Bumi Resources, part owned by London-listed Bumi Plc, swung into a $632 million loss for the first nine months of 2012 after taking a $422 million hit from a rogue derivatives trade. The steep loss is just the latest in a series of corporate...

AngloGold Ashanti gold mine sparks protests in central Colombia

Jan 4, 2013 | News

Multinational gold mining company AngloGold Ashanti has sparked protests as it considers processing ore in a central Colombian town 50 miles west of the capital Bogota. Hundreds of protesters gathered in Doima, a small town in the Tolima department, on the day before...

ENRC Congo deal is passed despite largest shareholder's lack of support

Jan 4, 2013 | News

The largest shareholder in Eurasian Natural Resources Corporation, the embattled FTSE 100 mining group, has refused to back a deal to buy out the company’s controversial business partner in the Democratic Republic of the Congo, as the company was separately...

Coal Consumption Booms Amid Rising Climate Concerns: IEA Coal Report 2012

Jan 4, 2013 | News

In a report destined to frustrate advocates for global action on climate change, the Paris-based International Energy Agency projected Tuesday morning that in five years’ time, the amount of coal burned around the globe every year will increase by an additional...

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