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Australia News Digest
Saturday 29 April 2017
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With the Foreign Investment Review Board’s approval, Rio Tinto is a step closer to fully exit thermal coal.

The company has officially informed workers of its plans to offload the mine, noting that while there are several interested parties, the process could take months.

Net income totalled $2.5 billion, compared with profit of $525 million in the prior three months and almost $1.8 billion a year earlier.

New World Bank outlook for commodities predict 32% price jump for zinc and 18% for copper and lead, but outlook for nickel price in 2017 is murky.

The European country holds between 1.2 to 1.4 million tonnes of lithium, located mostly around the tiny village of Cinovec, on the border with Germany.

The miner said decision was unrelated to Elliott Management's call earlier this month to unlock shareholder value by spinning off about $22 billion of BHP's US oil assets.

BMI Research expects prices to continue sliding for at least the next five years on rising supplies from Australia and Brazil and expectations for a surplus.

The giant equipment maker's quarterly profit surged past estimates helped by a recovery in most of its end markets.

Both iron ore and diamond output rose in the first quarter thanks to a continued ramping-up of the company's Minas Rio mine in Brazil and improvements in the gem market.

–9% on Friday.

They're pressing the company not only to accept a proposal by activist investor Elliott Management to spin off its US petroleum business, but to fully demerge all of its oil and gas assets.

Production for the first three months of the year slumped 37% compared with the same period of 2016.

Drops 4% to $289.50 a tonne despite greater than expected Australian supply outage.

Production of the steelmaking raw material jumped 11% to 86.2 million tonnes in the January-March period, compared to the same quarter a year earlier.

Chinese back out of $1.5 billion deal for Barrick's Kalgoorlie stake – JV partner Newmont has long expressed interest in acquiring half of Super Pit.

The firm, a unit of Shanghai-listed Shandong Tyan Home, reportedly walked away from the deal due to recent tightened controls in China on outbound investment.

Experts believe the value of the nation's dawning industry is set to jump from $1.1bn this year to $7.9bn in 2021 on a combination of revised regulatory framework and significant gold and copper reserves.

Another 5% iron ore price drop Tuesday slashes $30 billion from top 5 producers' market value in one month.

The miner said it was unwilling to take the steps required to satisfy Australian steel makers to get the approval of the transaction, which would have its major deal since spinning off from BHP in 2015.

The latest chapter in the Simandou case.

They have found valuable minerals atop an underwater mountain, which is basically a huge flat-topped mound of some of the scarcest materials on Earth.

But market was in small deficit according to study.

Activist investor Elliott's proposals to break up BHP are riddled with “major flaws” and could end up costing far more to implement than they would save, the company said.

The commodity is now trading below $70 a tonne and has just suffered its largest one-day percentage decline in over a year.

Analysts expect BHP to argue that a demerged petroleum business would need to fund offshore growth projects by raising debt. It may also contend that a stand-alone division won’t have the same ability to defer production until oil prices improve.

After a 85% rise in 2016, iron ore prices are now down 3.2% so far this year, which has placed the commodity in a bear market.

Shipments will start almost nearly three years after the two countries signed an export deal for peaceful power generation.

Company says the associated risks of spinning off about $22 billion of its US oil assets and listing them in New York would significantly outweigh any potential benefits.

2016 highlights: a year of breakthroughs and setbacks

BHP Mitsubishi Alliance (BMA) has announced it will invest over two hundred million dollars into the Bowen Basin, creating hundreds of jobs, which shows the ongoing strength of Queensland’s coal industry.

A new copper find in South Australia has the potential to easily boost production.

At an accelerating rate, Mexican mines are taking advantage of advanced simulation technology along with skilled people and proven process, from Immersive Technologies, to optimize their equipment operator workforce.

Australian explorer, Emu NL, provides the following update on its drilling program on the Company’s Vidalita project in northern Chile.

1 Year Iron Ore Fines Price
6 Months Thermal Coal CAPP Price
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