Cecilia Jamasmie, Author at MINING.COM

Canada’s economy drops as mining and oil plunge

Canada’s economy shrank 0.1% in August, the first drop in six months, driven mainly by depressed manufacturing and energy sectors, Statistics Canada said Wednesday.

Cecilia Jamasmie | October 31, 2012 | 2:52 pm

PotashCorp reportedly in merger talks with Israeli smaller rival

Potash Corporation of Saskatchewan (TSX:POT) is allegedly in talks with the Israeli government concerning a potential merger/ takeover of Israel Chemicals Ltd. in a deal that may be worth over $13.5 billion.

Cecilia Jamasmie | October 31, 2012 | 2:06 pm

EU delays Glencore-Xstrata merger verdict

The European Commission said Wednesday it is delaying the deadline to emit a verdict on Glencore International PLC's $70 billion merger proposal with Xstrata (LON:XTA) after Glencore (LON:GLENA) made concessions to reduce EU concerns about too much potential concentration of interests in northern Europe.

Cecilia Jamasmie | October 31, 2012 | 11:42 am

Rinehart loses appeal over stake in much-hyped iron ore project

Mining billionaire Gina Rinehart's Hancock Prospecting lost Tuesday an appeal to retain its share in the touted Rhodes Ridge iron ore project in Australia’s Pilbara, forecast to be worth billions once developed.

Cecilia Jamasmie | October 30, 2012 | 6:15 pm

Union claims Rio Tinto redundancy package discriminates against members

The Australian Construction, Forestry, Mining and Energy Union (CFMEU) said Tuesday the Rio Tinto's redundancy package for its Blair Athol coal mine discriminates against union members.

Cecilia Jamasmie | October 30, 2012 | 5:03 pm

North American oil sands market to reach $26 billion this year: report

Canadian Oil Sands income on the way up, but warns of drop in cash levels

Canadian Oil Sands Ltd. (TSX:COS) increased its 2012 cash flow guidance by 20% after reporting third-quarter net income climbed to $338-million as lower operating expenditures offset a decline in revenues.

Cecilia Jamasmie | October 30, 2012 | 2:07 pm

Weak gold prices, Australian charge drive Newmont's $2bn loss

TransCanada’s profit in the third quarter down 4%

TransCanada Corp. (TSX, NYSE:TRP), Canada's largest pipeline company, said Tuesday third-quarter profit dropped 4% compared to the same period last year, missing estimates.

Cecilia Jamasmie | October 30, 2012 | 1:47 pm

Africa ready to revert its ‘resource curse’: report

New oil, gas and mineral discoveries boost African economies growth — World Bank

Despite setbacks in the global economy, sub-Saharan Africa is expected to grow at 4.8% in this year, broadly unchanged from the 4.9% growth rate registered in 2011 and largely on track, according to the World Bank’s latest report.

Cecilia Jamasmie | October 30, 2012 | 10:33 am

Anglo American Platinum offers bonus to bring back miners

South Africa’s Anglo American Platinum (Amplats), the world’s largest platinum producer, has offered to reinstate 12,000 miners fired in early October for illegally striking and pay them a $230) “hardship allowance” if they return to work by Tuesday morning.

Cecilia Jamasmie | October 29, 2012 | 5:03 pm

Petronas extends $5.2 billion takeover bid for Progress Energy

Malaysian state-run oil company Petronas has extended the deadline for its takeover bid for Canadian gas producer Progress Energy Resources Corp.(TSX:PRQ) in hopes it will be able to overcome Ottawa's objections to the $5.2 billion deal.

Cecilia Jamasmie | October 29, 2012 | 3:28 pm