Turkey is something of an unknown and misunderstood place; but as Alan Swaby learns, there is at least one mining entrepreneur who has complete faith in its future.

Considering the amount of exploration that’s taken place in some of the most obscure corners of the world, it’s something of a surprise that Turkey’s mineral resources are so underdeveloped. At least it is to Alan Clegg, founder and CEO of Red Crescent Resources (RCR)—although he’s not complaining too much, as it leaves the field wide open for RCR at the moment.

Praxair is the largest industrial gases company in North and South America and one of the largest worldwide, expecting global sales in 2011 to exceed $11 billion. Praxair India is one of its strongest subsidiaries, bringing to Indian customers a high quality service culture unique to Praxair globally.

Platinum producer Lonmin has agreed to sell a controlling stake in its Limpopo Baobab mining division to black empowerment group Shanduka.

Lonmin said the deal will enable it to work with Shanduka to develop Limpopo on a manageable scale, as well as furthering Shanduka’s strategy of operating mining assets in chosen commodities.

Valero Energy Corporation has announced the completion of its acquisition of the Meraux refinery in Louisiana from Murphy Oil USA Inc, for $325 million.

In addition to the refinery, the purchase price includes an adjacent product terminal, a 20 percent equity interest in the Collins Product Pipeline and T&M terminal, and a 3.2 percent interest in the Louisiana Offshore Oil Port (LOOP).

Inventories valued separately at approximately $260 million were also purchased.

London-based engineering and project management company AMEC has been awarded the front-end engineering and design contract for development of the Cygnus field in the southern North Sea.

The £50 million contract, which was awarded by GDF SUEZ E&P UK, is a front-end engineering & design (FEED) contract, which includes the option to proceed into detailed design and procurement services.

BHP Billiton has completed its acquisition of the HWE Mining subsidiaries which provide contract mining services to its Western Australia Iron Ore operations.

The acquisition from Leighton Holdings follows a previously announced Heads of Agreement signed on 9 August 2011, relating to the mining equipment and related assets that service the Area C, Yandi and Orebody 23/25 operations which collectively account for almost 70 per cent of Western Australia Iron Ore’s total material movement.

North Atlantic Potash Inc., the Canadian subsidiary of JSC Acron, today completed the sale of eight of its potash permitted areas to Yancoal Canada Resources Co. Ltd. of China for CAD$110 million.

This sale relates to North Atlantic Potash's potash permit holdings located north of Regina, and allows the company to focus on key areas of interest within its remaining potash permits in Saskatchewan.

Westinghouse Electric Company has been awarded a contract for the supply of 12 replacement steam generators for EDF's French nuclear fleet.

Westinghouse will provide engineering design, analysis, and fabrication for its technologically advanced steam generator and will deliver the steam generators to EDF in collaboration with several industrial partners, including Valinox Nucleaire in France for the manufacture of steam generator tubes, Mangiarotti S.p.A. in Italy for the steam generator assembly, and other European forging companies.

The Port of Felixstowe, the UK's largest container port, opened a new deep water shipping terminal today.

The new terminal consists of two berths – Berths 8 & 9 – and is the first stage of a £1 billion plus inward investment programme in Hutchison’s UK ports.

Currently the Port of Felixstowe deals with over 40 per cent of the UK’s container cargo, with around £60 billion of imports and exports passing through the port each year. The expansion could add a further £20 billion to this figure.