Glencore shares soar on faster than expected debt reduction

Resource Capital Research detects some good news in the uranium sector, namely acquisition plays for Hathor Exploration and Extract Resources, but sector performance will remain poor for the first quarter of 2012.

CALGARY, ALBERTA--(Marketwire - Dec. 11, 2011) - Suncor Energy reported today that it has declared force majeure under its contractual obligations and is suspending its operations with the General Petroleum Corporation (GPC) in Syria.

Energy demand is predicted to be 30 percent higher by 2040 due to growing population and a rising GDP, but coal use will peak and decline over this same period.

- Federal Natural Resources Minister Joe Oliver has taken a dim view of British funding for opposition to oilsands development. "It's unfortunate that foreign interest groups opposed to Canadian development of our energy resources are pushing ...

Australia's Extract Resources Ltd., owner of the world’s fourth-largest uranium deposit, advised shareholders to take no action regarding the $2.2 billion takeover bid from Chinese nuclear fuels supplier Guangdong Nuclear Power Corp (CGNPC).

Kalahari Minerals (LON:KAH), whose main asset is the Husab uranium project in Namibia, has accepted a cash offer from Chinese Guangdong Nuclear Power Corp (CGNPC) valuing the London-listed company at $993 million.

Donald Blankenship, whose former coal company Massey Energy was fined a record $10.8 million for safety violations connected to the worst mining accident in 40 years, has started a new mining company in Kentucky.

Workers at Xstrata’s Ulan Coal project north of Sydney went on strike for 24 hours on the weekend after learning several electrical staff had been dismissed.

Brazil's Vale is set to move its first coking coal shipment next week from its Moatize mine in Mozambique, sources told Reuters on Tuesday. This will be the first coking coal shipment, after 3 thermal coal shipments, and is destined for steelmaker ArcelorMittal's South African unit. Vale last month approved a $6 billion expansion of Moatize to double output to 22 million tonnes per year.