PERSIAN GOLD — one of the Dublin-based exploration companies chaired by businessman John Teeling, has reported an 11% year-on-year drop in first- half losses as it prepares to overhaul its operational framework.

TWO of the Irish mining and exploration companies chaired by businessman John Teeling are to merge under the new name, Clontarf Energy.

AFRICAN Diamonds – the Irish-headquartered precious stone mining company – is set to generate annual revenues of around $80 million (€60m) from upping its stake in the high potential AK6 diamond mine in Botswana.

CANADIAN mining company, Petrominerales has made a £19 million (€21m) offer for the South American assets of Irish oil and gas exploration company, Pan Andean.