Canada-owned oil sands mine in Utah to begin producing in fall

When it comes to energy, America is lucky to be next to Canada, whose proven oil reserves are estimated by Oil and Gas Journal at 175 billion barrels. This ranks just behind Saudi Arabia (260 billion) and Venezuela (211 billion) and ahead of Iran (137 billion) and Iraq (115 billion).

Australia's Macarthur Coal has backed a slightly sweetened A$4.9 billion ($5.2 billion) takeover offer from Peabody Energy and ArcelorMittal . Peabody and ArcelorMittal raised their offer by 3 percent to A$16 a share and will also add Macarthur's A$0.16 a share dividend, for a total offer value of A$16.16. Macarthur bowed to the higher offer after fending off four takeover attempts over the past three years.

Shares in Ivanhoe mines closed up just over 5% in Toronto on Monday outperforming the broader market and bringing the counter's gains to 23.2% over the last week. At a time when many miners across the developing world struggle to preserve their social licence, the impact of Ivanhoe's Oyu Tolgoi on the people of Mongolia stands in stark contrast: the mine will contribute a third of the country's GDP when it goes into full operation, will be mined until at least 2060 and increase the average earnings of Mongolians by 60% according to a new CNN report.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 29, 2011) - Hathor Exploration Limited (TSX:HAT) is aware that Cameco Corporation intends to proceed with a hostile and unsolicited all cash take-over bid for Hathor at a price per Hathor common share of Cdn.$3.75. The announcement stated that the bid will be open for at least 60 days from the time it is made. Hathor has not yet been provided with a formal offer and so is not in a position to respond. Hathor will issue a strong and detailed response to the offer after it has received and reviewed the bid materials, and received guidance and input from its financial and legal advisors.

The U.S. Department of Energy announced today the selection of 16 projects aimed at developing advanced post-combustion technologies for capturing carbon dioxide (CO2) from coal–fired power plants. The projects, valued at $41 million over three years, are focused on reducing the energy and cost penalties associated with applying currently available carbon capture technologies to existing and new power plants. The selections announced today will focus on developing carbon capture technologies that can achieve at least 90 percent CO2 removal and reduce the added costs at power plants with carbon capture systems to no more than a 35 percent increase in the cost of electricity produced at the plant. The Obama Administration has made a goal of developing cost-effective deployment of carbon capture, utilization and storage technologies within 10 years, with an objective of bringing 5 to 10 commercial demonstration projects online by 2016.

CALGARY, Aug. 29, 2011 /CNW/ - Climbing labour, service and commodity costs are driving early signs of cost inflation in the oilsands sector while environmental issues dominate the risks list, according to Ernst & Young's recent report, Exploring the top 10 opportunities and risks in Canada's oilsands. An uncertain global economy, conflict in North Africa and the Middle East, supply and demand imbalances, crude price volatility and currency fluctuations are making it difficult for oilsands companies to plan and forecast accurately.

South Africa's Optimum Coal said on Monday that a unit of Glencore, the world's largest commodity trader, had bought a 14.1 percent stake in it. The announcement comes after Optimum, South Africa's sixth-largest coal producer, confirmed on Friday that it had received takeover approaches.

Stakeholders in the mining sector said they are targeting to create about two million direct jobs for Nigerians from the sector. Under the Progressive Miners Empowerment Association (PMEA), the miners said if about N200 billion is injected into the sector, it would be revived.

Four miners were killed when a coal mine collapsed in the northern Mexican state of Coahuila on Friday, a senior government official said. Labor Minister Javier Lozano said in a Twitter message the fourth body was recovered late on Friday and an extraordinary inspection of the mine was underway.