Competition to sharpen mine rescue teams' skills

The Surface Mine Emergency Response Competition involves qualified mine rescue teams from mine sites across Western Australia competing against each other in theory and practical tests.

The public are encouraged to attend the weekend's events at the Mining Hall of Fame.

The chamber's Matthew Payne says although the competition is held in a festive atmosphere, competitors take the event very seriously.

"Well its principal objective is to be a training and learning exercise for mine rescue teams so they can have their skills sharpened and honed so in the event they do face a real life emergency they're capable of meeting it," he said.

"That's certainly the most important objective of this weekend."

Post from : www.abc.net.au

TRADING DAY: Thursday, May 1, close

By Gregory Thomas, The Vancouver Sun

Published: Thursday, May 01, 2008

Stock markets in Canada rallied Thursday despite slumping commodity prices as a sell off in energy stocks sent traders bargain hunting for banks, railroads, and communication companies.

The S&P/TSX composite gained 128.77 points, or 0.9 per cent, to 14,065.81. The S&P/TSX venture composite climbed 67.9 points, or 2.8 per cent, to 2,480.70. Crude oil slid 94 cents to $112.52 US a barrel for the June contract. Gold shed $14.20, or 1.6 per cent, to $850.90 US as the U.S. dollar continued its recovery, rising 1.2 per cent against the euro and pushing the Canadian dollar down 0.71 cents to 98.11 cents U.S.

The S&P/TSX financials group gained more than two per cent, following on a banking rally on Wall Street. CIBC added $2.58, or 3.5 per cent, to $76.75, its highest level in nearly three months. The Royal Bank gained $1.18, or 2.5 per cent, to $49.20. TSX Group, operator of the Montreal options exchange as well as the TSX and the venture board, jumped $3.37, or eight per cent, to $45.67.

Shares of Vancouver-based GLG Life Tech jumped 60 cents, or 20 per cent, to $3.65. The company said it signed a strategic alliance agreement with the grain handling giant Cargill, the second-largest private company in the U.S. GLG said it will sell Cargill up to 93 per cent of its production of a sweetener derived from stevia extract at its production facility in China. GLG expects the value of the deal to approach $200 million US in the first 3 years.

InterOil jumped $3.44, or 23 per cent to $22.34 on news of a natural gas discovery on its offshore license in Papua New Guinea. The company didn't quantify the success of the shot, saying only that drillers experienced a gas kick and a flow of gas and gas liquids to surface that they circulated and flared, before preparing to go deeper.

Venezuela continued to wreak havoc on mining exploration. Crystallex International slumped six cents to 86 cents, bringing losses to nearly 50 per cent since the government denied its mining permit application. Gold Reserve sank 40 cents, or 14 per cent, to $2.40, falling 35 per cent since Tuesday.

Shares of Magna International jumped $5.85, or eight per cent, to $80.10. First-quarter earnings dropped five per cent to $207 million, or $1.78 a share from a year earlier, but results at the Canadian auto parts maker handily beat Street expectations of $1.51 a share, and sales grew three per cent to $6.62 billion.

In New York, the Dow Jones Industrial Average gained 189.87 points, or 1.5 per cent, to 13,010, the S&P 500 index added 23.75, or 1.7 per cent, to 1,409.34, and the Nasdaq composite climbed 67.91, or 2.8 per cent, to 2,480.71.

Shares of Clorox climbed $5.24, or ten per cent, to $58.24 US, for their biggest gain in eight years after the maker of bleach and Glad garbage bags beat the street with Q3 earnings of $100 million US, or 71 cents a share. Rising corn and soybean costs helped send profits down 22 per cent from a year earlier, but higher sales of new green environmental products and rising international sales helped improve the bottom line. In late trading Sun Microsystems fell 13 per cent to $13.92 US from its closing level of $16.33 US. The maker of the Java computer operating system reported a third-quarter net loss of $34 million US, or 4 cents a share, compared with earnings of $67 million, or 7 cents a year earlier

Post from : www.canada.com

Black Hills Corporation Reports First Quarter 2008 Results and Announces Quarterly Dividend

RAPID CITY, S.D., April 30 /PRNewswire-FirstCall/ -- Black Hills Corporation today announced quarterly financial results for the period ended March 31, 2008.

For the three months ended March 31, 2008, income from continuing

operations was $16.6 million, or $0.43 per share, compared to $32.5 million, or $0.91 per share, reported for the same period ended March 31, 2007. Net income for the three months ended March 31, 2008 was $16.8 million, or $0.44 per share, compared to $32.5 million, or $0.91 per share for the same period in 2007. Compared to the first quarter of 2007, income from continuing operations in the first quarter of 2008 primarily was affected by the following factors:

-- a $ 1.5 million increase in electric and gas utility earnings; -- a $ 1.0 million decrease in oil and gas earnings; -- a $ 1.1 million decrease in electric utility earnings; -- a $ 12.4 million decrease in energy marketing earnings; and -- a $ 2.3 million increase in unallocated corporate costs.

David R. Emery, Chairman, President and CEO of Black Hills Corporation, said, "The decrease in earnings in the first quarter of 2008 was mainly the result of a significant decline in energy marketing earnings. Market conditions for natural gas changed dramatically in 2008 compared to the very favorable market conditions prevailing in the first quarter of 2007. The Rockies Express Pipeline was placed into service, contributing to the first quarter 2008 decrease in Rocky Mountain gas price basis differentials. The lower basis differentials and decreased calendar spreads contributed significantly to the earnings decline. Consequently, gross margins on gas marketing transactions fell, as did physical volumes, which decreased 6 percent. In addition, we recorded an unrealized mark-to-market loss of $(5.7) million after-tax in first quarter 2008, compared to an unrealized gain of $4.1 million after-tax in the same period of 2007. We expect to recoup a significant amount of the 2008 period's unrealized mark-to-market loss during the remainder of this year as marketing transactions are settled.

"Earnings at our electric utility were down despite higher revenues from increased native load demand and off-system power marketing margins," Emery continued. "Higher expenses eclipsed these increases, primarily due to increased fuel and purchased power costs to cover native load requirements. Overall operating costs were higher as well."

Emery said, "Oil and gas earnings were negatively affected by a $1.8 million after-tax accrual related to the settlement of ongoing royalty negotiations in New Mexico. Results were also impacted by lower production and higher operating costs offset by the benefit of higher average hedged prices received for crude oil. Production was hampered by severe winter weather conditions in the San Juan Basin, continued delays in federal drilling permit approvals in Colorado, and postponed drilling activity on several of our non-operated properties. Given these factors, in 2008 it will be challenging for us to exceed 2007 production levels. Notwithstanding these production issues, we expect to benefit from higher crude oil and natural gas prices throughout the remainder of 2008. Coal mining earnings were similar in both 2008 and 2007, as increased coal production and higher average prices received per ton of coal were offset by higher mining costs and mineral taxes.

"On a positive note, earnings increased nearly 50 percent at our electric and gas utility, Cheyenne Light, Fuel & Power," Emery said. "Improved earnings were largely the result of electric and gas rate increases that went into effect January 1, 2008. Much of the earnings benefit resulted from the commercial operations of the Wygen II power plant, which was placed into service on January 1 of this year as a rate base asset. Recently, we celebrated with Wyoming Governor Dave Freudenthal and other dignitaries a dual occasion -- the dedication of Wygen II and the groundbreaking for its adjoining facility, Wygen III. These two plants will share a common control room and other infrastructure to save on future costs. Like the other Wygen plants, Wygen III will feature the latest available emissions control systems, including mercury reduction processes. Wygen III is expected to be a rate-base asset of Black Hills Power and to be in service in 2010."

Emery stated, "During the first quarter of 2008, we completed the remaining regulatory approvals associated with our acquisition of one electric and four natural gas utilities from Aquila, Inc. We now await the final regulatory step to complete this transaction, which is the Missouri Public Service Commission's approval of the merger of Aquila and Great Plains Energy. In that merger, Great Plains will acquire the Missouri-based electric utility now owned by Aquila. We remain confident that this last approval will be obtained, allowing the deal to close late in the second quarter."

Emery remarked, "We are very excited about the proposed expansion of our utility operations. Integration activities are proceeding to assure a smooth transition of ownership. The Aquila acquisition, along with today's announced agreement to sell seven independent power plants, will result in a major transformation of our Company. That said, we still support our longstanding diversified, yet integrated, energy strategy.

"The Aquila acquisition and IPP sale transactions must be completed before we can update our 2008 earnings guidance. We expect to issue revised guidance as soon as we can accurately provide: the effects of the pending sale of IPP assets, earnings estimates for the Aquila utilities which take into account permanent financing plans for the Aquila acquisition, and related impacts on our corporate capital structure. At such time, we also will update our guidance to reflect changes, if any, in expectations for our other businesses."

Post from : www.redorbit.com

Australia's Leighton unit wins A$330 million contract from GPT Group

SYDNEY (Thomson Financial) - Leighton Holdings Ltd., Australia's largest construction and contract mining group, said on Thursday it has won a A$330 million ($310 million) contract from Australian-listed property trust GPT Group to design and construct an office building in Brisbane's central business district.

Leighton, through unit Leighton Contractors Pty. Ltd., will build the One One One Eagle Street development that will include about 62,000 square meters of office space over 44 levels and parking over six basement levels

Leighton, 54 percent owned by Germany's Hochtief AG., said its unit has over A$8.8 billion worth of work in hand.

($1 = A$1.06)

yuinmunn.szetoh@thomsonreuters.com

ys/ms

COPYRIGHT

Copyright Thomson Financial News Limited 2008. All rights reserved.

The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.

Neither the Subscriber nor Thomson Financial News warrants the completeness or accuracy of the Service or the suitability of the Service as a trading aid and neither accepts any liability for losses howsoever incurred. The content on this site, including news, quotes, data and other information, is provided by Thomson Financial News and its third party content providers for your personal information only, and neither Thomson Financial News nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon.

Post from :www.forbes.com

China targets new oil, gas, coal and minerals finds

Resource-strapped China is ramping up the search for new oil, gas, coal, copper and iron deposits, the Ministry of Land and Resources said, delineating plans to identify ten new oil fields with reserves of 100Mt each by 2010.
China is pouring new money into minerals and hydrocarbons exploration after decades of neglect. Its booming economy is depleting its existing reserves of oil, gas and coal, adding urgency to the search.
The plan, published on the Ministry`s website, also targets the identification of eight to ten fields with reserves of 100 million billion cubic metres of natural gas and 200 large mines by the end of this decade.
It calls for more detailed surveying of up to a quarter of China`s land mass and exploration of half of its offshore areas, as well as increasing mine safety.
China threw open its gold mining sector to foreign investment earlier this decade, but has been more cautious about offering hydrocarbons or its best minerals prospects to foreign capital.
Soaring gold prices have spurred production and turned the nation into the world`s top gold producer last year. But despite increased output, it still is a massive importer of copper, iron and oil, producing only half the crude oil it needs, while coal production can barely meet consumption.
Beijing has incouraged the country`s oil and mining firms to acquire resources overseas, to help meet its growing needs.
The ministry is wrapping up an extensive restructing of its mining licences, designed to resolve overlapping claims and force smaller miners to sell out to larger outfits capable of investing in safer and more efficient technology. (http://www.mining-journal.com/)

Working Conditions in Mining

Working Conditions	[About this section]	Back to Top

Hours. Work schedules in the mining industry can vary widely. Some sites operate 24 hours a day, 7 days a week, particularly in oil and gas extraction and underground mines. This creates the opportunity for some mining workers to work long shifts several days in a row, and then have several days off. The remote location of some sites, such as offshore oil rigs, requires some workers to actually live onsite for weeks at a time, often working 12 hour shifts, followed by an extended leave period onshore. As a result of these conditions, part time opportunities are rare in this industry, but overtime is common; less than 3 percent of workers were part-time employees in 2006, while nearly 4 in 9 worked over 40 hours per week, and 1 in 3 over 50 hours per week. The average work week for a production worker in mining was 46.3 hours.

Work environment. Work environments vary by occupation. Scientists and technicians work in office buildings and laboratories, as do executives and administrative and clerical workers. Engineers and managers usually split their time between offices and the mine or well site, where construction and extraction workers spend most of their time. Geologists who specialize in the exploration of natural resources to locate resource deposits may have to travel for extended periods to remote locations, in all types of climates.

Working conditions in mines, quarries, and well sites can be unusual and sometimes dangerous. Physical strength and stamina are necessary, as the work involves standing for long periods, lifting moderately heavy objects, and climbing and stooping to work with tools that often are oily and dirty. Workers in surface mines, quarries, and wells are subject to rugged outdoor work in all kinds of weather and climates, though some surface mines and quarries shut down in the winter because snow and ice covering the mine site makes work too dangerous. Oil and gas sites, because they are largely automated once deposits have been located, generally operate year round regardless of weather conditions, although offshore oil platforms are evacuated before the onset of dangerous weather, such as hurricanes. Surface mining, however, usually is less hazardous than underground mining.

Underground mines are damp and dark, and some can be very hot and noisy. At times, several inches of water may cover tunnel floors. Although underground mines have electric lights along main pathways, many tunnels are illuminated only by the lights on miner’s hats. Workers in mines with very low roofs may have to work on their hands and knees, backs, or stomachs, in confined spaces. In underground mining operations, unique dangers include the possibility of a cave-in, mine fire, explosion, or exposure to harmful gases. In addition, dust generated by drilling in mines still places miners at risk of developing either of two serious lung diseases: pneumoconiosis, also called “black lung disease,” from coal dust, or silicosis from rock dust. These days, dust levels in mines are closely monitored and occurrences of lung diseases are rare if proper procedures are followed. Underground miners have the option to have their lungs x-rayed on a periodic basis to monitor for the development of the disease. Workers who develop black lung disease or silicosis may be eligible for Federal aid.

Mine safety is regulated by the Federal Mine Safety and Health Act of 1977 and successive additional legislation, which has resulted in steadily declining rates of mining injuries and illnesses. Increased automation of mining and oil well operations has also reduced the number of workers needed in some of the more dangerous activities. As a result, in 2006, the rate of work-related injury and illness per 100 full-time workers was only 3.5 for the mining industry as a whole, lower than the rate of 4.4 in the entire private sector. Rates for the specific industry sectors were 2.0 in oil and gas extraction, 4.8 in coal mining, 3.1 in metal ore mining, 3.2 in nonmetallic mineral mining and quarrying, and 3.9 in support activities for mining.

www.bls.gov/oco/cg/cgs004.htm

History

Since the beginning of civilization people have used stone, ceramics and, later, metals found on or close to the Earth's surface. These were used to manufacture early tools and weapons. For example, high quality flint found in northern France and southern England were used to set fire and break rock.[1] Flint mines have been found in chalk areas where seams of the stone were followed underground by shafts and galleries. The mines at Grimes Graves are especially famous, and like most other flint mines, are Neolithic in origin (ca 4000 BC-ca 3000 BC). Other hard rocks mined or collected for axes included the greenstone of the Langdale axe industry based in the English Lake District.

The oldest known mine on archaeological record is the "Lion Cave" in Swaziland. At this site, which by radiocarbon dating the mine dates around 4,100 BC, paleolithic humans mined mineral hematite, which contained iron and was ground to produce the red pigment ochre.[2][3] Mines of a similar age in Hungary and are believed to be sites where Neanderthals may have mined flint for weapons and tools.

Ancient Egyptians mined malachite at Maadi.[4] At first, Egyptians used the bright green malachite stones for ornamentations and pottery. Later, between 2,613 and 2,494 BC, large building projects required expeditions abroad to the area of Wadi Maghara in order "to secure minerals and other resources not available in Egypt itself."[5] Quarries for turqoise and copper were also found at "Wadi Hamamat, Tura, Aswan and various other Nubian sites"[6] on the Sinai Peninsula and at Timna. Mining in Egypt occurred in the earliest dynasties, and the gold mines of Nubia were among the largest and most extensive of any in Ancient Egypt, and are described by the Greek author Diodorus Siculus. He mentions that fire-setting was one method used to break down the hard rock holding the gold. One of the complexes is shown in one of earliest known maps. They crushed the ore and ground it to a fine powder before washing the powder for the gold dust.(http://en.wikipedia.org/wiki/Mining)