Anglesey Mining plc announced a projected production of 2 million tonnes iron ore per annum at its Canadian interest. The company holds a 12% interest Labrador Iron Mines Holdings Ltd (LIMH) which has released the details of a preliminary economic assessment (PEA) on its 52% owned Houston project. LIMH holds direct shipping iron ore deposits […]
Month: November 2024
Cairn to acquire onshore Egypt assets
Cairn Energy plc and partner Cheiron Petroleum Corp hope to purchase a portfolio of upstream oil and gas assets for US$646 million ($323m net to Cairn) in the Western Desert, onshore Egypt. The acquisition of hydrocarbon production, development and exploration interests from Shell Egypt NV and Shell Austria GmbH (Shell) will have an additional contingent […]
Cairn Energy to sell interests in Catcher and Kraken
Cairn Energy plc plans to sell its North Sea interests in Catcher and Kraken fields for US$460 million to Norwegian company Waldorf Production Ltd. POSITION Cairn entered into an agreement that will also include additional contingent consideration dependent principally on oil prices from 2021 to the end of 2025. The sale, subject to shareholder approval, […]
Altus identifies high priority gold targets in Eastern Desert, Egypt
Altus Strategies plc said it had identified numerous high priority gold targets from remote sensing across its four projects covering 1,565 km2 in the Eastern Desert of Egypt. WORKINGS Altus conducted systematic remote sensing across the projects and found major historical gold mining camps, including the Bakriyah mining district. More than 100 potential hard rock […]
Cairn revenue falls as net oil output dips
Cairn Energy plc announced a decrease in revenue as net oil production fell slightly below guidance figures. In its full year result for 2020, the group’s revenue from net oil and gas sales was recorded at US$324 million (2019: $504m) following the fall in oil prices last year. Net oil production averaged just over 21,000 bopd, […]
Cornish Metals secures more rights at South Crofty
Cornish Metals Inc said it will lease additional land, mineral and waste rights to further the redevelopment of South Crofty mine in Cornwall. The Canadian miner has reached an agreement with Brownfield Investments Ltd and Roskear Minerals LLP to lease 1.2 hectares surrounding New Roskear shaft in Camborne for up to 23 years. An agreement […]