New backers for giant wind project
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Oil begins to wobble
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In a buoyant coal market, South Africa-focused Coal of Africa has upgraded potential resources at Vele in Limpopo Province 25 per cent to 441.47 million tonnes.
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As the price of crude oil continues its relentless rise to $130 a barrel and above, the debate has intensified about whether this surge is the result of rising demand from China, India and the other new economic powerhouses.
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The commodities surge has continued, with even rice hitting a record $1,000 a tonne, causing mayhem in South East Asian markets.
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With oil flirting above $100 a barrel and gold bouncing above $1,000 an ounce and back down below $930, the resources markets have not lacked excitement.
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Persistent demand from China continues to play a major role in resources markets.
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Scottish & Southern Energy, the UK’s second-largest energy supplier, has pledged to keep its prices unchanged until at least 30 March 2008.
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Coal has stolen some of the glory of more glamorous minerals of late on prospects for tight world supply as China cuts back exports to maintain deliveries to the coal-fired power stations that supply 80 per cent of its electricity.
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BHP Billiton’s £64 billion hostile bid for Rio Tinto has continued to enthral the mining market.
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