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The Times: Need to know: August 18, 2007

Natural resources

Norilsk Nickel said it will spend more than 4.4 billion rands (£296 million) on two projects in Botswana and South Africa. The Russian miner will develop the Tati nickel mine in Botswana, and the Nkomati nickel mine in South Africa, Tav Morgan, its deputy director, said in Johannesburg.

Platinum Diversified Mining reported a pre-tax loss of $4.77 million (£2.4 million) for the period to December 31, 2006, and said it is moving forward with acquisition of International Consolidated Minerals, a deal that is expected to be finalised in September.

Tullow Oil The Democratic Republic of Congo has decided to revoke an oil exploration licence awarded to Tullow Oil after the London-based independent oil company failed to pay a signing-on bonus, the oil minister said yesterday.

Shell said it had pulled out 75 Gulf of Mexico workers by yesterday morning before the arrival of Hurricane Dean and planned to pull out another 200 non-essential employees later in the day.

http://business.timesonline.co.uk/tol/business/markets/article2261378.ece

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