The Resource Inventory is your source for the latest trends regarding the resource industry. We cull the latest information and updates from the energy, oil and gas, and mining industries. Check out the Technology Inventory and Telecom Inventory blogs as well.
Don't wanna be here? Send us removal request.
Statistics
We looked inside some of the posts by resourceinventory and here's what we found interesting.
Average Info
Notes Per Post
13
Likes Per Post
11
Reblog Per Post
2
Reply Per Post
0
Time Between Posts
3 days
Number of Posts By Type
Text
17
Last Seen Tumblr Blogs
Fun Fact
Tumblr has been banned in Indonesia for providing people with access to pornographic content.
Text
Australia seeks top spot in LNG market before 2018
Australia has the potential to become the largest exporter of liquefied natural gas (LNG) in the world in the next five years, according to the country's federal resource minister.
Seven of the world’s twelve newest LNG projects, says Minister Gary Gray, are being built in Australia. The resource minister predicts an annual production of 90 million tonnes come 2018.
The demand for liquefied natural gas is expected to rapidly match that of coal by 2035. The International Energy Agency estimates that 50% more gas will be needed by that time.
The Asia-Pacific region is fast becoming the heart of the global market for gas. The region accounts for more than two-thirds of LNG production.
At the same time, imports are expected to increase by an average of 7% from 2012 to 2018. Twenty percent will go to China, which is understandably set to become one of the biggest importers of LNG in the world. The rest will go to economies that are expected to emerge within the next 20 years.
Recommended additional reading:
Azerbaijan telecom satellite meant for VSAT services, not ISP consumers
2 notes
·
View notes
Text
AREVA uncovers more uranium riches in eastern Mongolia
AREVA announced that its Mongolian subsidiary has discovered yet another big deposit of uranium in Mongolia.
According to AREVA Mongol, its exploration of the Zoovch Ovoo project in Ulaanbadrah Soum has uncovered 50,000 tonnes of grade 0.01% uranium. The find is comparable in size to the largest deposits in Kazakhstan.
In addition, tests have proven that the valuable radioactive ore can be mined with the in-situ leaching (ISL) method used by AREVA.
Armed with 28 exploration licenses, AREVA Mongol is currently canvassing more than 14,100 square kilometres in the East Gobi province of Mongolia for uranium deposits that can be mined using ISL technology. Back in 2010, the Company discovered 9,888 tonnes of uranium in Dulaan Uul, and it is currently considering the feasibility of mining it as well as the Zoovch Ovoo project.
Recommended additional reading:
Spacecom nabs contract with Southern African ISP for Ku-band VSAT services
2 notes
·
View notes
Text
South African coal miner Exxaro will mine iron ore in Congo
The Democratic Republic of the Congo will be hosting iron ore mining operations by South African coal miner Exxaro plans to mine iron ore later this 2013.
Exxaro acquired the Mayoko iron ore project as part of its takeover of African Iron. The permit for Mayoko is expected to arrive anytime soon.
The South African mining company plans to infuse $320 million into Mayoko. The expected pay-off: An annual output of 2 million tonnes of iron ore for 2014 and a peak annual output of 10 million tonnes later on.
Furthermore, Exxaro has entered a partnership with the Congo government to upgrade the railway connection between the Mayoko iron mine and the Pointe Noire port.
One of the largest producers of coal in South Africa, Exxaro is currently diversifying its assets by expanding iron ore production in the Congo.
Recommended additional reading:
Satcom1 shows off satellite communications capabilities for Chinese market
3 notes
·
View notes
Text
Consortium leases two state-owned NSW seaports for $5.3bn
Australia has secured what is perhaps the biggest deal in the global transport sector this 2013 by way of a $5.3 billion deal with a locally-led private consortium for the lease of two major state-owned seaports.
The winning bidder is the NSW Ports Consortium, which is comprised of Industry Funds Management, Australian Super, QSuper, and the Abu Dhabi Investment Authority. The bid involved Port Botany and Port Kembla, two big seaports in the Australian state of New South Wales.
Port Botany handles a variety of products that include natural gas, oil, and petroleum. Port Kembla ships coal and steel.
Australian officials initially projected the seaports' lease deal will net $2.96 billion.
Recommended additional reading:
STMicroelectronics, ESA successfully tests satellite-tracking chip for Galileo
0 notes
Text
China imports more copper in March as world supply tightens
While the price of gold continues to plummet, Barclay reports that copper did better in China. Chinese copper imports registered a 7% increase to 320,000 tons while copper scrap imports rose by 17% month-over-month during March 2013.
Chinese manufacturing imports surpassed expectations by registering a 14% year-over-year increase. This resulted in a marginal rise of base metals prices that had been suffering from months-long lows.
The world's supply of copper has suffered several significant disruptions as of late. The biggest was the port strike in Chile, where 120,000 tons of copper meant for Asia and Europe got held up for three whole weeks.
On a similar vein, a gas leak closed down the important copper smelter operated by Sterlite in Tuticorin, India, which can potentially affect the supply of copper in the region if it continues into May.
Traders on the London Metals exchange took measures by holding stocks of the commodity.
Recommended additional reading:
Singapore hosts first ever NSSLGlobal office in Asia Pacific
6 notes
·
View notes
Text
Afghanistan holds trillion dollar treasure trove of minerals
Afghanistan is reportedly home to vast deposits of valuable minerals that are worth up to $1 trillion. In addition to copper, which comprises the majority of the deposits, the country also harbors plenty of gold, iron ore, uranium, and precious stones like emeralds.
The region southeast of Kabul is currently hosting a team of US hydrologists and mining engineers. Guided by local Afghans, the team is holding tests to determine if the area can support mining activity. And even if the results turn out positive, new mine operations might take up to 10 years before they are completely established.
The presence of NATO forces have helped support the national economy of Afghanistan. But they are scheduled to pull-out in 2014, so Afghanistan plans to turn to its natural resources.
Afghanistan currently earns an annual revenue of $146 million from mining. The Afghan finance minister predicts that mining will be provide revenues of $4 billion to the government and $20 billion to the overall economy come 2024.
Recommended additional reading:
Turkey plans dedicated military satellite communications network
0 notes
Text
NASA seeks seed funding for asteroid capture, space mining
According to a US senator, NASA may soon get the seed funding it needs to kickstart plans to capture a 500-ton asteroid and place it in lunar orbit for space mining and research purposes.
Senator Bill Nelson of Florida believes that the budget from President Obama, which is expected any time this week, will include the $100-million seed funding that NASA needs for its ambitious space mining project.
The total bill for the NASA asteroid capture/mining mission is expected to hit $2.6 billion. But the pay-off is more than worth it if the asteroid proves to be anything like 2012 DA14, which flew by Earth back in February and was estimated to be worth $195 billion in mineral resources and spacecraft fuel.
NASA plans to land astronauts on the asteroid, divert it to the moon, and extract valuable mineral resources from it. It will also research ways to prevent other asteroids from hitting the planet. The US space agency predicts a timeline of eight years for the mission.
Senator Nelson is the Chairman of the U.S. Senate Subcommittee on Science and Space. His website calls the asteroid mining mission a part of a "much broader program" that will help develop ways to land astronauts on Mars.
A former astronaut, Senator Nelson served as a payload specialist on the Space Shuttle Columbia during the 1980s.
Recommended additional reading:
Satellite Safari app lets users watch satellites from iPhone
0 notes
Text
Toro uranium mine in Western Australia gets approved
Mining company Toro Energy has received the green light for construction of its planned $280 million uranium mine in Western Australia. In order to prevent detrimental effects associated with mining uranium, such as radiation, the federal government also imposed 36 conditions on Toro.
Toro's flagship project can be found south of Wiluna. It will be the sixth uranium mine in Australia, the first new uranium mine to be approved since 2009, and the first in resource-rich Western Australia.
Environment Minister Tony Burke assured AFP that the new uranium mine at Wiluna will have minimal negative effect on the environment, be it during the 14-year expected lifespan of the mine or afterwards. The federal government has placed 36 strict conditions upon Toro that will, among others, limit radiation, protect groundwater and surface water from pollution, and ensure that the mine will remain safe for humans and animals after it is closed.
Toro expects the first sales of uranium from the mine in 2014.
Australia does not use nuclear power. It is, however, the third biggest producer of uranium in the world. In 2010, Australia earned more than $630 million for shipping 6,888 tonnes of oxide concentrate.
Recommended additional reading:
Norsat International snares satcom research, development fund from SADI
0 notes
Text
Gold mining flourises in former Stalin era Gulag region Magadan
One would think that the ill reputation of the Magadan region in Russia, where Gulag camps housed prisoners who were forced to mine gold in the inhospitable clime until their deaths, would drive away anyone. Instead, gold fever continues to flourish long after Stalin's death.
Also known as Kolyma, Magadan is located in the Russian Far East, about 6,000 km from Moscow. It holds one of the richest reserves of bullion in Russia, and has helped the country secure its place as the fourth biggest producer of gold in the world.
Nowadays, any mining done in Magadan is voluntary and rewarding. Mining cooperatives extract gold using open-cut methods with teams that operate in shifts.
Recommended additional reading:
Intelsat capacity powers Digital Networks VSAT network expansion in North America
0 notes
Text
Areva resumes test drilling for uranium in Nunavut, Canada
Canadian uranium miner Areva Resources is resuming test drilling for the radioactive mineral at its Kiggavik project site near Baker Lake, Nunavut.
Areva has already completed a winter road which will facilitate the transport of supplies such as 200,000 litres of fuel.
The miner is in the process of applying for a permit to open the first uranium mine in Nunavut.
Nunavut is the biggest and youngest federal territory in Canada. It had announced in June 2012 that it would approve the extraction of uranium, but attached the stipulation that the radioactive ore must only be used for a peaceful purpose and in an environmentally-responsible way.
The uranium sector has taken a beating in recent years. Prices for the radioactive ore have dropped roughly 70% from peak pricing in 2007. Furthermore, the Fukushima disaster forced Japan to shut down 48 of its 50 reactors, driving down both price and confidence in the nuclear industry.
But there is potential for recovery. There are plans and ongoing projects to build 500 new nuclear reactors across the world to complement or replace the roughly 200 existing nuclear power plants.
Recommended additional reading:
Cobham SATCOM adds TracStar VSAT to EXPLORER BGAN wireless portfolio
0 notes
Text
Codelco faces plunging copper prices, work stoppage in April
Already beset by dropping demand for its copper ore product, Chilean state copper miner Codelco also faces a possible 24-hour work stoppage in the near future.
The mining company's umbrella union for workers held an extraordinary assembly on Friday, March 15, 2013, to vote regarding a stoppage at all units of the biggest copper producer in the world. After the meeting, the coalition announced its decision to implement a 24-hour work stoppage before early April. To prepare for that strike, the coalition will hold separate assemblies with each production unit and discuss the details.
More than 20 unions at Codelco comporse the coalition. The members have expressed their displeasure with the company’s management.
Codelco owns more than 11% of the copper reserves in the world. A previous 24-hour work stoppage in July 2011 cost the Company $40 million.
To make things worse for the copper miner, the prices of its main commodity had plunged to their lowest level within the past four months. The trigger for the drop in copper prices is considered to be the universally-criticized bailout plans for Cyprus, which brought up unpleasant questions about Europe's economic growth and ability to stop its debt problems from spreading.
Recommended additional reading:
STM, ESA, Norway developing very high-throughput TDM/TDMA Hub modem
0 notes
Text
Mild weather hampers winter roads in Russia, Canada
Normally one hears about bad weather closing down roads and transportation. In a twist, warmer weather has hampered the construction of roads in Canada and Russia- roads made of ice, that is, the so-called “winter roads” that serve a number of mines in remote regions of those countries.
According to a news release from GeoProMining, an international diversified resources company, several factors have complicated the construction of the critical winter road that serves the Senatchen gold-antimony mine in Yakutia, Russia. Not only has Yakutia's winter season been relatively mild this year, but weather conditions have been constantly and rapidly shifting.
GeoProMining went on to reassure concerned parties that they completed the winter road in time for Senatchen's 2012-2013 production season.
The same problems plagued Canadian ice roads between Fort Chipewyan and Fort McMurray, reported CBC.
The Senatchen gold-antimony mine is located 700 km away from the town of Ust-Nera in Yakutia, Russian. The only overland method of transportation to this remote region is the winter road, which is built through the frozen beds of the Elgi and Adycha rivers. The road is only open from February to April; outside of that time frame, Senatchen can only be reached by helicopter.
The winter road is used to bring ore out of the Senatchen gold-antimony mine and deliver technical resources and diesel fuel that the mine will use during for the next production season.
Recommended additional reading:
Northland Power plans to convert Ontario iron mine into hydro power plant
0 notes
Text
CSCA experts say asteroid mining will dominate industry
Experts at the recent Canadian Space Commerce Association (CSCA) conference in Toronto concluded that space mining is not only within reach, but will achieve short-term command of the resource extraction industry.
CSCA head Arny Sokoloff believes that space mining has much greater potential than traditional terrestrial mining. He urges governments to offer tax benefits like those enjoyed by mining companies in order to spur the growth of the space mining industry.
Sokoloff's colleagues share his view. Bob Richards, CEO of US-based Moon Express, explained that he moved from Canada to California to best access capital that supports risky but revolutionary investments. According to him, the next one to three decades will witness space mining break into stride.
Geologists believe that asteroids possess much higher concentrations of iron ore, nickel, and precious metals than Earth soil. In addition, terrestrial deposits of gold, zinc, and other resources are quickly being depleted by the needs of modern economies. Within a mere 100 years, humans will be forced to look elsewhere -such as asteroids in space- for vitally-important metals.
Recommended additional reading:
TSF restores communications in Timbuktu, Mali with Astrium satcom equipment
0 notes
Text
Peru mining minister expects copper output to double by 2016
According to the mining minister of Peru, the South American country expects to boost its copper output to more than double its current production within three years.
Peruvian Minister of Energy and Mines Jorge Merino sprung the optimistic announcement during the recent Prospectors and Developers Association of Canada 2013 conference. Minister Merino stated that Peru intends to boost its copper production to match 50% of the total production of neighboring Chile, the biggest producer of copper in the world.
Peru currently churns out 1.3 million tons of copper annually. The plan is to produce more than double that -2.8 million tons to be precise- by 2016.
Minister Merino predicts that Peru will net nearly $2 billion in expected revenues from the increased production of copper. The additional revenue, he says, can be used to build more hospitals and roads.
Recommended additional reading:
NBN signs 2015 launch deal with Arianespace
0 notes
Text
Finland, Sweden havens for miners, says Canadian survey
A recent annual survey by the number one public policy think-tank in Canada has identified Finland and Sweden to be the best mining destinations in the world for 2013.
Ranked from the top, the top global mining destinations are Finland, Sweden, Alberta, New Brunswick, Wyoming, Ireland, Nevada, Yukon, Utah, and Norway.
Inversely, the worst country for miners is Indonesia. The Southeast Asian country is followed by Vietnam, Venezuela, Democratic Republic of Congo (DRC), Kyrgyzstan, Zimbabwe, Bolivia, Guatemala, Philippines, and Greece.
The Fraser Institute compiled the opinions of international mining executives and published its findings as the Annual Survey of Mining Companies 2012/2013. The Canadian think-tank is pleased to prove that investment opportunities in the mining industry and environmental protection are not antithetical.
Three of the global top 10 mining spots in 2013 had been secured by Canadian jurisdictions. While former top dog New Brunswick fell from first place to fourth, Alberta clung on to third place globally and remained number one in Canada. Tenth placer Yukon, meanwhile, rose to eighth place.
Quebec experienced an even sharper decline than New Brunswick. The former mining darling barely managed to secure the 11th place out of 96 jurisdictions covered by the 2013 survey. Quebec had previously ranked first worldwide from 2007 to 2010, and snagged fifth place during 2012.
According to Kenneth Green, senior director of energy at the Fraser Institute and director of the recent survey, miners look at the competitiveness of tax regimes, the soundness of legal systems, and the level of certainty around land claims. Alberta and New Brunswick rank highly with those factors.
In contrast, the global mining community is worried about the mining policies implemented by the Quebec government. Miners are particularly uncertain about changes to the province's mining act as well as Quebec's proposed royalty hikes.
Recommended additional reading:
GPS Innovation Alliance stands up for satellite navigation
0 notes
Text
Investors use astrology for prediction of precious metals prices
There have been many jokes comparing astrologists and economists. And then there is the recent development of real-life investors who are using astrology to predict the price of precious metals such as gold.
Analyst Malcolm Bucholtz uses astrology with traditional technical charts and esoteric mathematics to trade in the financial markets. “The buying and selling that occurs is a reflection of two emotions, fear and hope,” he explained, “and this buying and selling exhibits patterns.”
Before you dismiss him as a crank, Bucholtz happens to be a business expert, columnist for ProEdgeWire, and the author of "The Bull, the Bear and the Planets.” And he actually performed serious research that correlated the market patterns for precious metals and the paths taken by the planets in astrology.
As an example, he cited the correlation between gold prices and the trajectory that the planet Mercury took around the Sun during November 2012. “Notice how Mercury kept gold traders on the edge of their seats with some fascinating price volatility during its March retrograde event,” he claims.
Recommended additional reading:
Turkmenistan plans late 2014 launch for first national satellite
0 notes
Text
Inmet, Petaquilla resolve differences over projects in Panama
Petaquilla Minerals Ltd. and Inmet Mining Corp. have ended their war in the press and the legal courts. The two Canadian miners reported that they have reached a preliminary commercial agreement involving their projects in Panama that is potentially worth $150 million.
The binding term sheet resolved several outstanding issues between Petaquilla and Inmet. This includes the thorny problem of land rights near the massive Cobre Panama copper project that is run Minera Panama, a subsidiary of Inmet.
Minera Panama has agreed to purchase between $75 million and $100 million worth of aggregates from Petaquilla.
Inmet will also lease certain lands from Petaquilla at an annual rate of $1.3 million. These lands will host temporary and permanent worker camps.
In addition, Inmet also dismissed certain legal claims it had pursued against Petaquilla.
Inmet estimates that the copper-gold porphyry Cobre Panama project holds more than 32 billion pounds of copper, 9 million ounces of gold, and 168 million ounces of silver. If all goes to plan, the massive mine will deliver its first consignment of concentrate during the first quarter of 2016. The site's lifetime is expected to be in excess of 31 years.
Petaquilla and Inmet came to an agreement in the nick of time. Inmet is being targeted by First Quantum for a $5.1 billion hostile takeover bid. The deal with Petaquilla arrived just 48 hours before the deadline of the takeover bid.
Recommended additional reading:
"ViaSat VR-12 Ka band antenna qualifies for FAA, global standards
0 notes