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Saudi Arabia just did the oil sands a huge favour

EthicalOil.org ran commercials about the treatment of women in Saudi Arabia on the Oprah Winfrey Network late August and has now been dragged in front of Canada's advertising authorities by the Kingdom, handing the controversial website a PR victory just as it was beginning to look as if its message was being drowned out by Hollywood celebs protesting oil sands pipelines.

Angola Mininster of Geology, Mining and Industry Recommends Investment in Engineer Training

Joaquim Duarte David, Angolan Mininster of Geology, Mining and Industry recommends that Angolan universities invest more into training engineers, scientists and administrators, ANGOP reports.
To Joaquim David, knowledge and training are vehicles for the creation of modern techniques to increase productivity, improve the distribution of wealth and the emergence of a vast medium class with access to market, revelation of intellectuals, creators of businesses and decision-makers.

London diamond sorting, sales moved to Botswana

Botswana aims to transform itself into an international hub of the world diamond industry, boosted by a deal in which the De Beers mining and sales empire will transfer the sorting, valuing and selling of rough diamonds from London to Gaborone by the end of 2013. The agreement also provides for Botswana to sell 10 percent of its diamonds independently of De Beers, rising to 15 percent in five years' time. Gaborone's Mmegi newspaper reported Tuesday that all 66 of De Beers' sightholders from around the world are expected to travel to Gaborone at least ten times a year. Africa's failure to add value to resources within their countries of production has long been identified as a major hindrance to the continent's growth.

Coal takes off

Without international agreements to limit greenhouse gas emissions, a new energy report sees world coal consumption taking off, rising from 139 quadrillion Btu in 2008 to 209 quadrillion Btu in 2035. The U.S. Energy Information Administration released its International Energy Outlook 2011 on Monday. While OECD countries, like the U.S., Canada, Australia and Japan, show a flat to declining consumption in coal, the non-OECD countries, namely China and India, show the demand for coal-powered energy exploding.

Striking uranium workers ‘defeat logic’

A strike appears imminent at Rio Tinto's Rssing Uranium Mine in the Namibian-Naukluft Park (pictured) after workers unhappy over production bonuses on Wednesday voted unanimously in favour of industrial action that could cripple operations at the mine responsible for some 5% of world production. Management said the demands were unreasonable and defeat logic. The industrial action takes place at a difficult time for the uranium industry with the spot price recently falling below $50 – levels last seen immediately after the nuclear accident at Fukushima. The sector has lost some 40% of its value since the Japan disaster and the first deal of what is expected to be widespread consolidation in the industry is already shaping up to be a classic David and Goliath fight.

Each day of the strike at Grasberg costs Freeport-McMoran 3 million pounds of copper and 5 thousand ounces of gold

Freeport-McMoran Copper & Gold reported on Wednesday that the strike at its Grasberg operations in Papua, Indonesia, which began Sept. 15, is costing the company about 3 million pounds of copper and 5 thousand ounces of gold for each day of the work stoppage. The company says that it is negotiating a two-year extension of its bi-annual collective labour agreement, which is scheduled for renewal on September 30, 2011.

China, India vie in tough race to acquire big chunk of Australian coal fields

Three years before it has yet to really produce coal, the northern Galilee Basin is already fully booked to Indian and Chinese coal mining companies. The Australian Newspaper said India's Adani Group already owns some 7.8 billion tones into the Queensland coal field, and is poised to pay an additional US$1.3 billion for a 7.9 billion-tonne coal tenement. While Australian billionaire Clive Palmer owns some 3.7 billion tones into the field, which reports say he is developing with Chinese business partners. The northern Galilee basin has a total of 20 billion tonnes production capacity.