Australia Mining News

Nautilus underwater project in Eastern Pacific richer than thought

Inferred mineral resources for Nautilus' CCZ project went up to 685 million tonnes from 410 million tonnes.

Boom in private debt financing for mining

Australia's Taurus raised $683m to invest in mining company debt last year, while two funds currently in the market are targeting investor capital of $800m.

The gold mine Barrick may regret selling

K92 Mining (KNT.V) is poised for production at its Papua New Guinea (PNG) gold project and lists on the TSXV tomorrow under the symbol KNT.

Iron ore price falls 5% – China scrap adds to oversupply fears

China's steel association warns accumulated steel output will exceed 10 billion tonnes in 2016 as scrap prices drop below pig iron costs inside the country.

Rio Tinto makes management changes

Rio Tinto has appointed Stephen McIntosh as the acting Group executive, Technology & Innovation

The mining industry has conceded defeat over exploration drilling in paddocks

The coal mining industry has waved the white flag over a landmark court ruling which prevents them from conducting exploration drilling in paddocks.

Vale readies for iron ore price war

For competitors S11D is a four-letter word.

Aussie mines too costly to shut

Mine sales stumble on looming clean-ups

Harvard, IMF economist: Emerging markets must go for gold

If all central banks were to hold at least 5% of forex reserves in gold (versus 60%+ in rich economies) it would require the purchase of almost 8,000 tonnes

Prospect generation – making mining into a numbers game

A concept born from two facts: mineral exploration is extremely capital intensive, and just 1 out of 3,000 mineralized anomalies became a mine.

Lulo diamonds sell for A$2.9 million

Special diamond recoveries continue at E46 as mining resumes at Mining Block 6 post the wet season

Australia's miners 'missing in action' in Colombia

Australia’s resource houses are “missing in action” in Latin America’s third largest economic powerhouse – Colombia – and should move post haste to rapidly lift their engagement with the mineral rich province.

Australia's Crusader in financing talks to build new gold mine in Brazil

The Juruena mine, in central Brazil, is estimated to hold an initial resource of 178,800 ounces of gold.

Thailand to shut only active gold mine by end of May — report

Chatree remains in operations despite and order by the country's military regime last week to halt all gold mining and exploration activities.

Copper purification system to cut shipping costs

South Australian company OZ Minerals has designed a refining process that allows it to increase the quality of its copper concentrate and exponentially reduce export costs.

Aussie firms back push to drive Argentina to world No 2 lithium supplier

There are fresh opportunitis to explore for new lithium resources in the rich Latin American footprint, says Latin Resources Managing Director, Chris Gale.

Australia’s geoscientist employment slump enters its third year

Employment prospects for Australia’s professional geoscientists deteriorated even further in the opening quarter of 2016, driven down by mining’s negativity and dashing hopes for an improvement in the geoscientist employment situation.

Lucapa to invest $7 million upgrading Lulo diamond mine in Angola

The mine hosts type-2a diamonds which account for less than 1% of global supply.

Key Australian-Latin American Mineral Resources Forum moves to Perth next week for 1st time

Resources investment opportunities across the vast region of Latin America will be in sharp focus next week when Perth plays host to the Latin America Down Under mining investment conference for the first time.

Miners going broke – worst still to come

New report says mining and metals companies set to default on debt at more than three times the historical rate going back to 1983.

Global gold output to remain weak despite price recovery

BMI Research analysts also believe gold prices bottomed in 2015 and expect the metal to edge higher over the coming quarters.

BHP resumes expansion plans, says not waiting for prices to recover

Strategic shift comes as the world's biggest miner tries to regain investors' confidence.

Glencore buys major stake in troubled Aussie iron ore miner

It now owns 8.47% of Atlas Iron, which gives Glencore direct exposure to iron ore production.

OZMin says first copper from Carrapateena in 2019

OZ Minerals (ASX:OZL) is betting big on copper with plans to begin mining ore at its Carrapateena underground mine by 2019.

Worst week for iron ore price since October 2011

Rout continues ahead of crucial Chinese import data.