Tuesday, October 25,2011
Mining Projects Group (ASX: MPJ) is set to undertake a non-renounceable rights issue to raise up to $1 million for working capital, with potential to fund activities on coal and gold projects in Indonesia.
The two for three rights issue will be offered at $0.02 per share, and is fully underwritten by Peregrine Corporate.
In addition, an attaching option is available on a one for one basis at $0.02, expiring in February 2013.
If exercised, the options will entitle the holder to one further ordinary share and attaching option expiring in February 2014, exercisable at $0.03.
Mining Projects has been approached regarding projects in Indonesia, and, if appropriate, will complete due diligence to establish the prospectivity of these projects.
Money raised in the rights issue could be used for activities such as engaging qualified experts to verify the legal ownership, logistics and geology of any projects the company may wish to invest in.
sourced Proactiveinvestors
Showing posts with label mining project. Show all posts
Showing posts with label mining project. Show all posts
Tuesday, October 25, 2011
Wednesday, August 3, 2011
CIL likely to invest about Rs 28,000 cr in 68 mining projects
3 Aug, 2011, PTI
New Delhi: Coal India (CIL) is likely to invest about Rs 28,000 crore in 68 mining projects having a production capacity of about 230 million tonnes per annum, Parliament was informed on Wedneday.
"The estimated investment likely to be made in CIL and its subsidiaries for the purpose is Rs 27,946.42 crore and it would be mobilised from internal sources of the company," State Minister for Coal Pratik Prakashbapu Patil said in written reply in Lok Sabha.
Of the 68 projects, 16 are of Western Coalfields Ltd (WCL) in Maharashtra, 13 from Central Coalfields Ltd (CCL) in Jharkhand, and 13 of South Eastern Coalfields Ltd in Chhattisgarh and Madhya Pradesh, the minister said.
Twenty five new coal blocks of public sector firms like CCL, WCL and Singareni collieries Company Ltd (( SCCL)) and eight coal blocks alloted to firms like Karnataka Power Corporation Ltd and SAIL among others for captive use have been opened during the last three years, he said.
At present 560 underground and opencast working coal mines, including 471 on Coal India, are spread across the country.
"The estimated investment likely to be made in CIL and its subsidiaries for the purpose is Rs 27,946.42 crore and it would be mobilised from internal sources of the company," State Minister for Coal Pratik Prakashbapu Patil said in written reply in Lok Sabha.
Of the 68 projects, 16 are of Western Coalfields Ltd (WCL) in Maharashtra, 13 from Central Coalfields Ltd (CCL) in Jharkhand, and 13 of South Eastern Coalfields Ltd in Chhattisgarh and Madhya Pradesh, the minister said.
Twenty five new coal blocks of public sector firms like CCL, WCL and Singareni collieries Company Ltd (( SCCL)) and eight coal blocks alloted to firms like Karnataka Power Corporation Ltd and SAIL among others for captive use have been opened during the last three years, he said.
At present 560 underground and opencast working coal mines, including 471 on Coal India, are spread across the country.
Tuesday, January 25, 2011
Guinea seeks 33 pct stake in mining projects - Mr Conde
Tuesday, 25 Jan 2011
The West African state's new president, Mr Alpha Conde told Radio France International on Monday that Guinea is seeking to raise its stake in mining projects to at least 33%.
Mr Conde during an interview said that "There will be three to five difficult months, since we've decided not to renegotiate contracts but instead to define a new mining policy that will give Guinea at least a third.”
Guinea is the world's largest exporter of the aluminum ore bauxite and its iron ore deposits have drawn billions of dollars in planned investments from the world's top mining companies, including Rio Tinto and Vale.
A top mining official told Reuters on Monday Guinea's current mining policy calls for a state stake of at least 15%. (Sourced from Thomson Reuters)
The West African state's new president, Mr Alpha Conde told Radio France International on Monday that Guinea is seeking to raise its stake in mining projects to at least 33%.
Mr Conde during an interview said that "There will be three to five difficult months, since we've decided not to renegotiate contracts but instead to define a new mining policy that will give Guinea at least a third.”
Guinea is the world's largest exporter of the aluminum ore bauxite and its iron ore deposits have drawn billions of dollars in planned investments from the world's top mining companies, including Rio Tinto and Vale.
A top mining official told Reuters on Monday Guinea's current mining policy calls for a state stake of at least 15%. (Sourced from Thomson Reuters)
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