Australia Mining News

South32 posts $1.6bn loss but pays maiden dividend

The miner continues to look for new assets, including Anglo American’s 40% stake in their manganese joint venture — Samancor.

This Australian man just found a massive 4kg gold nugget

Named “Friday’s Joy,” it is expected to sell for more than $190,000.

Glencore posts worst half-yearly profit since listing in London

Despite a rebound in commodity prices and successful costs cuts, Glencore remained in the red in the six months to end-June.

3D exploration model opens up South Australia

A 3D model showing underground landscapes to a depth of 100km of an entire Australian state has been launched.

Bright export prospects for Australian equipment manufacturer

With a one-piece-flow process, built using Lean Manufacturing principles, the team completed the machines on budget and on time.

Iron ore’s rally has its days numbered — Citi

Citi analysts believe the steel-making ingredient will average $51 a tonne in the final quarter of 2016 and fall to $45 next year.

Independent report calls for urgent inquiry into McArthur River Mines risk

A report published Tuesday by the Mineral Policy Institute on environmental risks at McArthur River Mine in the Gulf of Carpentaria makes the case for an immediate inquiry into the mine’s operation and evaluates pit backfill as the preferred option for pollution control.

Vale closer to $9 billion Chinese streaming deal – report

Impact on iron ore price uncertain as China's sovereign wealth fund leads investor group to secure portion of Brazilian giant's output for the next 30 years.

Novo Resources aims for high-grade gold Trifecta

Bob Moriarty of 321 Gold, who has been following Novo Resources for four years, discusses the company's three programs that are likely to gain investor attention.

Rio Tinto walks away from India Bunder diamond project

The project, discovered in 2004, was expected to generate about 30,000 jobs and produce up to 3 million carats a year.

McArthur River mine could cost up to $1B to remediate

The McArthur River mine in Australia is looking at a nine-figure clean-up bill, says a new report on one of the world's largest producers of lead, zinc and silver.

Adani $12 billion Carmichael coal project clears latest hurdle

A federal court dismissed challenge from a traditional owner to mining permits for the mine.

Moody’s has just called the bottom of the commodities rout

The worst is over, at least for base metals, says Moody's, but warns that challenging industry conditions should continue through to at least 2018.

Productivity the priority for BMA’s future suppliers

At a sold-out Moranbah luncheon last week, Bowen Basin Mining Club members were offered a timely insight into BHP Billiton’s global focus on production efficiencies and changing supply management practices.

Chinese ban may breathe new life into zinc price rally

Beijing cuts off power to 26 mines in key Chinese zinc, lead production region.

BHP may mothball $2.6 billion Jansen potash project if prices remain weak

The company, however, said it continues looking for a partner to take the venture off the ground.

These Aussie gold rivals just raised $74 million by selling mines to China, Canada

They had flagged they would offload some of their higher-cost local operations to focus on their most profitable mines.

World’s No. 1 miner BHP Billiton posts $6.4bn annual loss — its worst-ever

Not even counting the $7.7 billion in write-downs and charges, BHP’s underlying profit dropped by a painful 81% to $1.2 billion for the year to June.

Colombia’s largest mine turns to Australian tech to reduce environmental impacts

The Cerrejón mine is one of the world’s largest open cut coal operations.

$60 iron ore price see Australia, Brazil lose market share

Report shows higher ore prices have encouraged the likes of Iran, Russia and Mongolia to increase shipments to China at faster pace than dominant players.

This chart shows how tough mining conditions still are

Glencore's will continue to curtail production in zinc, copper and other metals – it's clear why.

Cave explorers check South Korean gold mine

Australian gold miner, Southern Gold Ltd (“Southern Gold”), advises that the novel use of cave explorers has been employed to initiate exploration on a second gold- silver project in South Korea, Weolyu South, located about 150km southeast of the capital Seoul.

Lenders throw a lifeline to bankrupt Peabody Energy

The coal giant also said it would review its assets in Australia to run a smaller but "more profitable" basis.

Bacteria mineral extraction project could be a win for miners and the environment

Using bacteria to extract minerals from ore is showing the potential to replace dangerous processing chemicals such as cyanide in the mining industry.

Iron ore price soars past $61 per tonne to fresh 3-month high

Iron ore’s resilience in recent months has defied many analysts’ forecasts, as Beijing’s stimulus plans, restocking by Chinese steel mills and historically low port stockpiles have supported prices.