Europe Top Stories

Zambia eases tax rules, to start refund talks on a ‘company-by-company basis’

The new rules only apply to future payments and not…

Finning’s Vancouver branch to cut 500 workers in Canada

The figure represents 9% of the company's Canadian workforce, and…

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Namibia Rare Earths announces resource drilling program and geophysical surveys underway at Lofdal

Namibia Rare Earths (TSX: NRE) is pleased to announce that a 6,000 meter diamond drilling program has started with two drill rigs focused on the delineation of a first mineral resource from Area 4 on the Lofdal Rare Earth Project in northwestern Namibia. Concurrent with the drilling program, an induced polarization geophysical survey will be undertaken over prospective extensions of the favourable heavy rare earth-enriched structure emanating from Area 4. The drilling program is scheduled to be completed by the end of April with delivery of the NI 43-101 compliant mineral resource report in the third quarter of 2012.

No Keystone XL means Canadian crude will stay dirt cheap

Caving to pressure from environmental groups, the Obama administration on Wednesday rejected the $7 billion-plus Keystone XL pipeline which would have carried 700,000 barrels of crude oil a day from the Alberta oil sands to refineries along the US Gulf coast. The lack of pipelines like Keystone has meant that Canadian crude sells for much cheaper than global oil – on Wednesday the discount widened to over $30.

Finning to acquire portion of Bucyrus distribution

Finning International Inc. (TSX:FTT) and Caterpillar Inc. (NYSE:CAT) today announced the companies have reached an agreement for Finning to acquire from Caterpillar the distribution and support business formerly operated by Bucyrus in portions of South America and Western Canada and in the U.K.