mineral exploration project – commodity prices – mining stock- trade and market

Oil & Natural Gas Corp., India’s biggest energy explorer, may borrow $10 billion over the next decade as it competes with rivals from China and South Korea to buy oil assets overseas to meet domestic fuel demand.

“We still have surplus funds in our treasury and I’m not happy to be a zero-debt company,” Chairman R.S. Sharma said in a March 5 interview at his office in New Delhi. “We would like to borrow and leverage that for expanding our business.”

DMC Mining has announced an increased exploration target size of 0.9 to 1.3 billion tonnes of dominantly itabirite iron mineralisation at its 80% owned Mayoko Iron Ore Project in the Republic of Congo in West Africa.

Mineral investment company Cape Lambert Resources is DMC’s largest shareholder with 36% of the issued shares of DMC. CFE participated in a share placement in September 2009 at $0.25 per share.

Mining group Xstrata has made its first entry into the iron ore sector by funding an exploration project in the Republic of Congo.

Anglo-Swiss Xstrata will pay at least $50...

Zambia’s Lumwana Mining Co. Ltd., a unit of Equinox Minerals Ltd plans to raise copper output through greater efficiency and also plans to build a uranium plant, its managing director said on Wednesday.

Adam...

Two of the largest gold mining company Anglogold Ashanti and Randgold Resources a joint venture to acquire 20 percent more shares Moto gold mining projects from Okimo. The funds will be issued by both companies to get the Moto gold mining stocks approximately $ 113.6 million.

A mining expert has warned that Zambia will lose a lot of revenue when copper prices on the international market hit above the US $7,500 per metric tonne mark due to an anticipated copper shortage likely to occur between 2010 and 2012.

The global economic crisis has made improving the mining sector in Congo region is slow, even some mining companies to stop the exploration activities. The increase in metal prices pushed mining companies to reactivate exploration and production activities of mining. The government hopes Congo copper and cobalt sector can increase production. Recovery of copper and cobalt production...

Nigeria is talking with China about selling large stakes in some of its biggest oil blocks, according to a leaked document, in what executives say may be a bid to strengthen its hand with existing Western oil partners.

State-owned oil company CNOOC, China’s no. 3 oil and gas producer and an offshore specialist, is bidding for 6 billion barrels of Nigerian oil, equivalent to a sixth of the country’s proven reserves, according to the Financial Times.