Altona Rare Earths plc (formerly Altona Energy) has appointed Audrey Mothupi as a board non-executive director. Ms Mothupi is chief executive of South African-based SystemicLogic Group, a global financial innovation, data and technology disruptor, specialising in emergent business models. Prior to joining SystemicLogic, she was head of inclusive banking at Standard Bank Group, where her division […]
Tag: extractive industries
WCM starts legal process over coal mine decision
West Cumbria Mining Ltd (WCM) has started the process for a judicial review over the local council’s decision to reconsider plans for a metallurgical coal mine under the Irish Sea. Cumbria County Council has three times approved the application for Woodhouse Colliery off the coast of Whitehaven. Secretary of State Robert Jenrick has twice refused […]
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 […]
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 […]
Angus mulls overseas projects as revenue falls
Angus Energy plc might might look overseas for projects as it reported a fall in revenue and production. DECREASES Accounts for the year ended 30 September 2020, show revenue fell to £68,000 (2019: £200,000) on production of a gross 1,594 barrels (2019: 5,346). Angus attributed this to the Lidsey oil field being shut in due […]
Reabold to sell 50% CLNs to fund Victory draft FDP
Reabold Resources plc will sell half of the convertible loan notes (CLNs) in investee Corallian Energy Ltd to help fund a draft field development plan for the Victory gas field, West of Shetland. MONETISATION The sale is to “a group of strategic investors” in exchange for £500,000 cash, with Reabold retaining £500,000 of the CLNs. […]