Category Archives: Metals & Mining

Valerus Selected To Provide Compression Equipment And Services For Iraq Processing Facilities

– Valerus becomes largest compression solutions provider in Iraq

HOUSTON, Dec. 17, 2012 /PRNewswire  — Valerus, (www.valerus-co.com), one of the world’s leading providers of oil and gas handling and processing services and equipment, has been awarded a contract to provide more than 45,000 bhp of compression and onsite supervisory services for processing facilities being developed in Iraq.

The award positions Valerus as Iraq’s largest supplier of reciprocating compression equipment and services. Valerus has installed large compression facilities throughout the Middle East, including in Kuwait and Bahrain and is one of the world’s largest providers of compression, production, and processing and treating equipment.

“This is a tremendous win for Valerus and a testament to our ability to rapidly and effectively meet our clients’ global demands,” said Shelton McMath, vice president of the Eastern Hemisphere for Valerus. ”Our customers trust us to provide the comprehensive solutions they need regardless of scale and geography.”

About Valerus
Valerus is a worldwide leader in integrated oil and gas handling and processing. Products and services include reciprocating compressor packages, production equipment, gas processing solutions, liquid separation systems and a variety of professional field services. Its mission is to develop tailored solutions for its customers by combining the most experienced people with innovation and quality equipment. Valerus is committed to achieving the highest standards in health, safety and environmental responsibility. More information is available at www.valerus-co.com.

CONTACT:

Chris Wailes
Pierpont Communications
Houston, Texas
+1-713-627-2223
+1-713-585-5144 (mobile)

Fuel prices up for eighth time this year

WINDHOEK: Fuel prices will increase for the eighth time this year next Wednesday. The first increase was in February this year, while the only decrease in the price of fuel and petroleum products was experienced in June and July this year.
The Ministry of Mines and Energy announced in a media statement issued on Friday that 93 Octane Lead Replacement Petrol will increase by 19 cents per litre (c/l) (retail), 95 Octane Unleaded Petrol will increase by 20c/l (retail), and Diesel by 40c/l (wholesale).
The new Walvis Bay bump prices will thus be 93 Octane Lead Replacement Petrol – N.dollars 10.34 per litre, 95 Octane Unleaded Petrol – N.dollars 10.47, and Diesel – N.dollars 11.04.
The Energy Ministry explained that efforts were made for the past months not to pass the whole burden to consumers, thus, a certain portion of the increasing under-recoveries were carried by the National Energy Fund (NEF).
“It is however not the case now, because the NEF accounts could not afford to subsidise much due to other pending commitments,” said the statement signed by Mines and Energy Minister Isak Katali.
WINDHOEK: Fuel prices will increase next Wednesday for the eighth time this year.
The first increase was in February this year, while the only decrease in the price of fuel and other petroleum products was experienced in June and July this year.
The Ministry of Mines and Energy announced in a media statement issued on Friday that 93 Octane Lead Replacement Petrol will increase by 19 cents per litre (c/l) (retail), 95 Octane Unleaded Petrol will increase by 20c/l (retail), and Diesel by 40c/l (wholesale).
The new Walvis Bay bump prices will thus be 93 Octane Lead Replacement Petrol – N.dollars 10.34 per litre, 95 Octane Unleaded Petrol – N.dollars 10.47, and Diesel – N.dollars 11.04.
The Energy Ministry explained that efforts were made for the past months not to pass the whole burden to consumers, thus, a certain portion of the increasing under recoveries were carried by the National Energy Fund (NEF).
“It is however not the case now, because the NEF accounts could not afford to subsidise much due to other pending commitments,” said the statement signed by Mines and Energy Minister Isak Katali.

CSIR to assess PetroSA facility

Pretoria: The Council for Scientific and Industrial Research (CSIR) has been appointed to manage the Environmental Impact Assessment (EIA) process for PetroSA’s proposed Liquefied Natural Gas (LNG) off-loading facility in Mossel Bay.

“The CSIR is required to provide PetroSA with a clear environmental input into the planning and design process which should ensure acceptable environmental and sustainable principles,” said the national oil company on Wednesday.

The EIA is a process that identifies and evaluates at the earliest possible stage the environmental characteristics of a proposed project and its possible impact on the environment. The EIA is due to commence on 7 December.

PetroSA has been investigating the possibility of importing LNG to supplement dwindling gas reserves in Mossel Bay since 2008. This project has previously encountered challenges such as commercial viability.

The revised proposal involves the importation of LNG into Mossel Bay through a Floating LNG facility comprising a breakwater and berth structure allowing a permanently moored floating, storage and re-gasification unit to discharge vapourised LNG into a sub-sea and over-land pipeline leading to the Mossel Bay Gas to Liquids Refinery.

Ensuring compliance with the statutory procedures of the National Environmental Management Act forms part of the scope of work for the EIA process. Another aspect of the EIA process is mandatory public participation process ensuring that all interested parties are consulted.

PetroSA group chief executive officer Nosizwe Nokwe-Macamo said the establishment of an LNG facility is of critical importance for the sustainability of the company’s GTL refinery.

“The LNG project will allow additional time for sourcing further feedstock through either further indigenous production, nearby sources of production or additional LNG.

“Employment levels at the refinery and PetroSA’s contribution to the economy of the Southern Cape and the country will be maintained. This will see our GTL refinery continuing to produce liquid petroleum fuels, thus contributing to security of fuel supply for the country,” said Nokwe-Macamo.

Berkh Uul JSC (MSE:BEU) Announces Receipt of a NI 43-101 Compliant Resource Report for its Delgerkhan Fluorspar Deposit

ULAANBAATAR, MONGOLIA–(Marketwire/Asianet-Pakistan – Oct. 7, 2012) – Berkh Uul JSC (MSE:BEU) is pleased to announce the receipt of a NI 43-101 compliant Resource Report from Micromine, the international geological consulting firm, for the Delgerkhan Fluorspar Project.

HIGHLIGHTS

  • Indicated resource of 6.62million tons of Fluorspar ore grading 33.7% and inferred resource of 3.02 million tons of Fluorspar ore grading 33%

A total indicated and inferred resource of 9.64 million tons of ore or 3.22 million tons of contained fluorspar (CAF2)

Based on the current estimated price for fluorspar, the gross in situ value of the Delgerkhan deposit is USD 1.06 billion

  • a 10% grade cutoff is applied
  • Resource partially open at depth
  • Substantial exploration potential along strike of the deposit
  • All resources reported are entirely contained within the company’s 100% held mining lease

Between September and November 2011, Berkh Uul JSC engaged the professional management services of CBM LLC, which exclusively provides consulting services to Berkh Uul JSC’s controlling shareholder Firebird and its group of companies, to assist in the design and implementation of an1800 meter drilling program over the Delgerkhaan mining license under the guidance of international resource consultancy firm Micromine.

The drilling program focused on confirming historic joint Mongolian and Russian drilling to to bring the resource into a NI 43-101 compliant resource format. In addition, the drilling targeted deeper unexplored veining to extend the down dip depth of the deposit. 3D wireframe modelling was undertaken, taking the historic mining into account.

Berkh Uul JSC produced fluorspar until 2008 when operations were shut down. The company is moving onto the prefeasibility stage of the project, which it hopes to complete in the first quarter of 2013. Berkh Uul JSC is committed to reopening Delgerkhan, historically one of the largest producing fluorspar mines in Mongolia.

Contact Information

Berkh Uul JSC
Benjamin Coats
Investor Relations
+976 99053048
info@berkhuul.com
www.berkhuul.com