NEO Energy Production UK Ltd (NEO) has been fined £100,000 for breaching its combined vent consent for the Donan, Lochranza and Balloch fields 200km northeast of Aberdeen. FAILURE The North Sea Transition Authority said that venting approval, issued for 1 January to 31 December 2022, allowed for 1.035 tonnes of venting per day, equivalent to […]
Legal
Hummingbird takes over Kouroussa contracts
Hummingbird Resources plc has issued a formal ‘step-in notice’ allowing it to take contractual control of operations, suspended since 17 March, at its Kouroussa mine in Guinea. MINING The company said discussions continued with Corica Mining Services, which stopped work, aimed at returning its main contractor to work and ramp-up operations under the existing mining […]
Ascent Slovenia partner’s insolvency approved
Ascent Resources plc said that the high court has given final approval of its Slovenia joint venture partner Geoenergo d.o.o.’s insolvency. TENDER The company has stated it is owed approximately €8,000,000 of revenues which Geoenergo has already received. Ascent said it was still working to register Ascent Slovenia Ltd (ASL)’s claim in the insolvency proceedings […]
Hummingbird denies Kouroussa contractor claims
Hummingbird Resources plc has rejected accusations, including of money owed, from its mining contractor which has suspended operations at Kouroussa gold mine in Guinea. FAILURES The company said it disagreed with Corica Mining Services’ “highly misleading” public statement. “Specifically, the company disputes the accuracy of the balance quantum of monies due and the requirement for […]
Contract disputes halt Kouroussa gold mining
Contractual disputes at Kouroussa gold mine in Guinea have halted operations, affecting production and cash flow. IMPACT Owner Hummingbird Resources plc’s principal contract miner Corica Mining Services temporarily suspended mining operations as of 17 March 2024. The company said that the suspension was “a clear breach of the mining contract” and has given Corica notice […]
Capricorn in line for $9.5m dividend from Vedanta
Capricorn Energy said that a payment order had been issued regarding Vedanta Ltd’s $9.5 million dividend owed to Capricorn UK Holdings Ltd. The Securities and Exchange Board of India issued the order dated 12 March 2024. Vedanta, which must pay the money within 45 days of the order’s date, may challenge the order before the […]