It now expects adjusted earnings per share to come in at $5, significantly higher than the $3.75 it had forecast just three months ago and almost doubled the $2.90 it had originally projected for the year.
Australia Mining News
Mosaic chief Joc O’Rourke also said BHP’s target of 2023 for first production looks unachievable.
Company will make a decision on the plan in August.
While the decision doesn’t ban Fortescue from continuing to operate the mines, it paves the way for the group to sue the company for hundreds of millions of dollars in compensation claims.
Hedge fund manager says expanding into the currently over-supplied fertilizer market is just a bad idea.
The smelter, one of the largest in the Southern Hemisphere, has been hampered by insufficient power supplies and maintenance work since a major power outage last year shut operations for two weeks.
Prices have climbed almost 7% since Monday and almost 32% since the recent low of $53.36 a tonne hit on June 13.
From the recent low of $53.36 a tonne hit on June 13, iron ore prices have now surged more than 27%.
Blair Athol thermal coal mine, located in Queensland, Australia, had been closed since 2012 when former owner Rio Tinto shut down operations after almost 30 years of production.
It also revised down its expected share of hard coking coal for the year to between 7.2 to 7.8 million tonnes from 7.8 to 8.4 million tonnes.
The world's largest miner believes potash will be a $50 billion market by the late 2040s.
Mining is often described as a dangerous profession, but lurking behind the physical injuries, suicide has become a disturbing trend particularly in Australia.
Ore with 62% content in Qingdao added $1.86 overnight to close at $65.91, the highest since May 3 and 20% more than those year lows hit mid-June
Australia's New South Wales state said on Wednesday it would buy back half of a coal exploration licence from China Shenhua Energy Co Ltd , bowing to pressure from farmers and environmentalists opposed to mining on prime agricultural land.
The so-called Palmani project aims to discover and characterize the mining potential of an area located in Chile's extreme north, at about at 2,100 metres of altitude.
Study shows Q2 2017 new private capital for natural resources investment dropped to lowest since 2011 and not a single mining fund were able to raise money.
The need for the metal is expected to triple by 2025, but no all the countries rich in lithium are taking advantage of that trend, as shown in these graphics.
The mega-project will be built in conjunction with French renewable energy firm Neoen and paired with Neoen's existing Hornsdale Wind Farm north of Adelaide.
Novo Resources Corp. is pleased to announce that the Company has entered into a memorandum of understanding (the “MOU”) with Sumitomo Corporation, Japan (“Sumitomo”) to further develop the Company’s Beatons Creek project in the Nullagine region of Western Australia. The MOU is non-binding except as to certain provisions.
Rio's sale of The Australian Trilogy, an AUD$1.8 million one-of-a-kind coin collection featuring a pink, purple pink and violet diamond from the Argyle Diamond Mine, sold out in a month.
Combined worth of 50 largest mining companies grow to $768 billion during first half of 2017, but a few big names drop down rankings.
China's supply of steel scrap is surging as aged buildings, bridges and cars produced over decades of rapid economic growth are knocked down, dismantled or crushed.
Dam restrictions in China following excessive rains are also reducing hydropower capacity there, including at the world's biggest power station, forcing utilities to ramp up output at coal-fired utilities.
New report argues that a high-efficiency, low emissions coal-fired station would cost less than the almost A$3 billion in subsidies handed out by the government to renewable projects each year.
Australia's Northern Territory will soon be producing gold again thanks to Emmerson Resources (ASX:ERM), which is advancing the Edna Beryl gold mine along with Australian gold producer Evolution Mining (ASX:EVN).