Waihi residents have been expecting reimbursement from the Newmont Gold due to the concerns over the extension of goldmining work below their town.
A meeting was held on Friday where the MP of Green Party who has been opposing the mining project addressed nearly 80 residents and all the people present in the meeting discussed about the latest issue.
A consent hearing for Bathurst Resources proposed coal mine in the Buller district on the West Coast has been postponed. The hearing will be resumed later before the final addresses and the hearing closes. At present, Bathurst is in a three-week resource consent hearing process.
The Cleveland-based mine operator, Cliffs Natural Resources Inc. is pondering to sell its nine million shares in order to financially cushion its business acquisition with Consolidated Thompson Iron Mines Ltd. for C$4.9 billion ($4.95 billion).
The process of drilling has been brought to an abrupt halt in England, after it was revealed by the scientists that there is a threat of damage to the tectonic movements of the ground. Two petty earthquakes have been seen in the vicinity and the researchers are of the view that it might be a result of ‘Frackling’ due to the mining and drilling activities performed there.
Taking advantage of times of increasing prices, especially due to the Indian and Chinese demand, Arch Coal Inc. (ACI) is trying to acquire the International Coal Group Inc. (ICO) for $3.4 billion. Known as ICG, the International Coal was set together by investor Wilbur Ross, who is actually the Chairman.
There may be difficult times for months in coal markets after the Queensland floods because the repair of mines has been obstructed by the weather pattern.
Due to miners struggle to meet contracts, there has been a fall in existing stockpiles of coal within weeks. But there may be flooding in mine pits for month.
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