Mid-tier Canadian mining company Taseko Mines Limited has submitted a revised project description to the Federal Government in pursuit of final approval of its New Prosperity gold-copper project.

The New Prosperity project addresses the concerns identified during the original federal review process while building on the core strengths and benefits of the original Prosperity proposal.

Canadian resource company Copper Mountain Mining Corporation announced today that construction of its processing plant is now complete and production has commenced.

Mining has been proceeding as planned and has been delivering ore to the primary crusher since mid April. The company has been stock piling ore as part of preproduction mining activities.

UK-based drinks giant Diageo has agreed to purchase a 20 per cent share in Kenya Breweries Limited (KBL) from SABMiller, through its subsidiary East African Breweries Limited (EABL).

The sale, announced today, is subject to KBL agreeing to terminate a brewing and distribution agreement with SABMiller, which will also see it ceasing to distribute SABMiller's brands in Kenya after a short transitional period.

NASA is due to test a range of new rocket technologies from its facility in Virginia next week.

The technologies will be tested on a Terrier-Improved Orion suborbital sounding rocket, from NASA’s launch range at its Wallops Flight Facility in Virginia.

The new technologies being trialed include the Small Rocket/Spacecraft Technology (SMART) platform, Autonomous Flight Safety System, Low Cost Telemetry Transmitter, and an electrohydrodynamic-based thermal control unit.

UK-based Cairn Energy has commenced drilling operations on two wells offshore West Greenland, it was announced today.

Operations will commence on the AT-7 well in the Atammik Block and the LF-7 well in the Lady Franklin Block, approximately 160 and 300 kilometres offshore Nuuk respectively.

The AT-7 prospect lies at a depth of 905 metres and the LF-7 prospect at 989 metres.

Drilling will be carried out by a fifth generation semi-submersible, the Leiv Eiriksson, and the Ocean Rig Corcovado, a sixth generation drillship.

Texas-based Treaty Energy Corp. has acquired its own drilling rig ahead of commencing operations in Belize, it has been announced.

The Schramm Rig, purchased in Alabama, has been shipped to a service center for inspection and upgrades as needed, prior to its shipment to Belize in June.

The rig is capable of drilling with either air or mud, and is thus able to drill with either method if on-site conditions change, the company said.

Building supplies specialist Wolseley has reported a jump in trading profits on the back of healthy growth in the US, it has been announced.

The UK-based company’s trading profits for the three months ending 30 April rose to £131 million, up 30 per cent from a year earlier. Revenue also rose, by one per cent to £3.27 billion.

Growth of 10 per cent in like-for-like revenue in the US helped to offset weaker growth in the UK, due to a slowdown in the construction industry.

Noble Energy has announced the discovery of oil at its Santiago exploration prospect in the deepwater Gulf of Mexico.

Around 60 feet of oil pay was identified in the well, which was located in 6,500 feet of water on Mississippi Canyon Block 519 and drilled to a total depth of approximately 18,920 feet.

Noble Energy is the operator at Santiago, with a 23.25 percent working interest. Houston Energy holds 10 percent, Red Willow Offshore has 20.25 percent, and BP Exploration & Production holds the remaining 46.5 percent.  

Desire Petroleum has announced that new data on its acreage offshore the Falklands has pointed to potential new prospects for oil.

The London-based company, which is wholly focused on the North Falkland Basin, said that initial indications for two new prospects—Beverley and Shona—were encouraging, based on preliminary raw data.

Desire said that the Shona lead is at the same stratigraphic level as the Sea Lion discovery made in May last year by rival exploration company Rockhopper, which was the first oil discovery in the North Falkland Basin.