Bloomberg reported that this week, Kenya plans to sign a concession accord with China's Fenxi Mining Industry Co. to develop a deposit containing 400 million metric tons of coal. The move will allow the country to tender 31 more blocks spread across counties in both the north and south of the nation.
Energy Company News Directory
Reuters reported that Vale SA (NYSE:VALE) intends to sell a 15- to 25-percent stake in its coal operations as it works to bring in funding, cut capital commitments and help mitigate risk. The company has already seen interest from potential partners.
Bloomberg reported that Ivan Glasenberg, CEO of Glencore Xstrata plc (LSE:GLEN), is pushing his company to invest more in thermal coal than its three closest competitors, namely BHP Billiton Ltd. (ASX:BHP,NYSE:BHP,LSE:BLT), Anglo American plc (LSE:AAL) and Rio Tinto plc (ASX:RIO,NYSE:RIO,LSE:RIO).
Rare Earth Minerals (LSE:REM) has confirmed the presence of at surface lithium-bearing clay units in northern Mexico.
Reuters reported that China Kingho Energy Group, a private company, has made a $60-million bid for Carabella Resources Ltd. (ASX:CLR), an Australian coal explorer. The news outlet describes the move as indicative of China's interest in purchasing cheap coal assets in the land down under.
CBM Asia Development Corp. (TSXV:TCF,US:CBMDF,FWB:IY2) closed the first tranche of its private placement for gross proceeds of $255,320. 2,553,200 common shares were issued at a price of $0.10 per share.
Bacanora Minerals Ltd. (TSXV:BCN) staked new lithium targets surrounding the Company's La Ventana lithium deposit and the El Sauz and Fleur concessions that are under joint venture with Rare Earth Minerals Plc (REM). Bacanora Minerals also signed a Memorandum of Understanding (MOU) with REM that allows REM to participate in the exploration and development of Megalit, as well as the Company's Buenavista and San Gabriel concessions.
Makena Resources Inc. (TSXV:MKN) announces the addition of Dr. Karl Schimann to its advisory committee.
Zadar Ventures Ltd. (TSXV:ZAD) closed the first tranche of its non-brokered private placement for $933,000, at a price of $0.20 per unit.
Aroway Energy Inc. (TSXV:ARW, OTCQX:ARWJF) started operations on a new development oil well on its 100% owned and operated Kirkpatrick Lake property in Central Alberta.