Australia Mining News

Caterpillar earnings beat estimates, shares hit five-year high

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.

Mosaic joins chorus calling BHP’s Jansen potash mine plan unwise

Mosaic chief Joc O’Rourke also said BHP’s target of 2023 for first production looks unachievable.

BHP $2.5bn expansion of Spence copper mine in Chile approved

Company will make a decision on the plan in August.

Australian court rules against Fortescue in mining land case

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.

Activist investor Elliott calls BHP potash plans ‘disastrous’

Hedge fund manager says expanding into the currently over-supplied fertilizer market is just a bad idea.

BHP to spend $277m to modernize Australian copper smelter

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.

Iron ore soars past $70 a tonne

Prices have climbed almost 7% since Monday and almost 32% since the recent low of $53.36 a tonne hit on June 13.

Rio’s revised iron ore guidance pushes price to three-month high

From the recent low of $53.36 a tonne hit on June 13, iron ore prices have now surged more than 27%.

Coal mine sold for less than $1 reopens, to reach full production by year-end

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.

Rio Tinto axes iron ore export forecast for the year

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.

BHP to speed up Jansen development as potash demand to double by 2040

The world's largest miner believes potash will be a $50 billion market by the late 2040s.

Glencore tackles difficult subject through new charity

Mining is often described as a dangerous profession, but lurking behind the physical injuries, suicide has become a disturbing trend particularly in Australia.

Iron ore price hits 10-week high on China renewed appetite

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 to pay China's Shenhua $200 mln to buy back mining licence

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.

Rio Tinto in search of the next Escondida mine in Chile

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.

Private capital says no to mining

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.

CHARTS: Lithium-rich countries risk missing the boat on electric batteries boom

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.

Tesla to build world’s largest lithium-ion battery in Australia

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 signs MOU to partner with Sumitomo Corporation to move Beatons Creek towards production

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.

Argyle diamond coin trilogy sold within a month

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.

Top 50 mining companies reshuffle as Chinese, lithium firms climb rankings

Combined worth of 50 largest mining companies grow to $768 billion during first half of 2017, but a few big names drop down rankings.

Getting scrappy: China iron ore demand may falter as steel recycling grows

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.

Australian spot coal prices hit highest since April amid mine outages, strong demand

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.

Clean coal could trump renewables bill in Australia

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.

Emmerson to open first new gold mine in Northern Territory in a decade

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).