Australia Mining News

Dorado: Australia's biggest oil discovery this century

The Dorado-1 well was expected to find 545 bcf of gas but resulted in something much more valuable, a large commercial oil find.

Perth Mint launches first gold-backed ETF on NYSE

The new fund, which will trade under the ticker symbol AAAU, will charge a fee of 18 basis points, or 0.18 percent of the value of an investment.

Rio Tinto closer to selling $6bn stake in Iron Ore of Canada

Company is said to have hired Credit Suisse to conduct an auction of its 58.7% interest in IOC.

Mobile Automation Centres retrofitted for Metals X

In addition to RCT’s products, its technicians installed additional features as per requested by the client. This included stand-alone air conditioning, Ice Pak and rear personnel carrier to support the condenser, a custom bull bar, UHF radios and UHF.

Innovation rebate caps are restricting Australia’s prosperity

Australia is at an economic crossroads. The perceived end of the mining boom and the disappearance of the last bastions of the traditional manufacturing sector have created uncertainty about Australia’s future and its place in the global economy.

Japan utilities, Glencore set annual coal contract at $110/T

Japanese utilities and global mining giant Glencore have settled an Australian thermal coal import contract for April 2018-March 2019 at $110 a tonne.

Lithium boom unlikely to disrupt potash market — analyst

While lithium and potash are often found in the same deposits and mined together, the increasing number of projects aimed at producing the white metal shouldn’t have an impact in the potash market.

China may end up inadvertent winner from Trump's aluminium tariffs: Russell

It's probably not what U.S. President Donald Trump had in mind when imposing tariffs on aluminium imports, but it looks likely that some of the big winners from the 10% import tax will be China's producers.

Auto industry’s use of lithium-ion batteries to grow seven-fold by 2025

The need to store electricity, generated by renewable energy sources such as wind and solar, will also help demand to grow, the Metal Bulletin says.

Global bauxite production to grow: Fitch

Fitch Solutions Macro Research states that bauxite production growth will remain high over the coming years, as new projects come online in Australia, Indonesia expands exports, India’s production ramps up, and existing projects in Guinea drive growth.

Rio Tinto considers float of Canadian iron ore business

Rio Tinto, the world's second largest listed mining company, is exploring a public listing of its Iron Ore Company of Canada business.

Sunstone Metals to sell Scandanavian copper asset for $30.3 million

The two companies have just signed a non-biding letter of intent.

Wages, activity pick up in Australia's iron ore heartland

New spending by some of the world's largest iron ore miners is tightening the market for jobs and support services in Australia's biggest mining region.

Tasmanian nickel mine to restart, Transamine secures offtake

Privately held Dundas Mining is restarting its Avebury nickel mine in Tasmania early next year and Swiss trading house Transamine has secured the offtake.

Miners set to spend $11B in search of the next jackpot

Miners and investors are poring over satellite images, tracking drilling rigs and quizzing company executives for clues.

World's top miner charges into cobalt

The Nickel West operation in Western Australia, aiming to sell 90 percent of its output to the battery sector by the end of next year, has had success with lab tests.

Battery boom skeptics seen driving short holdings in lithium miners

Short selling of shares in lithium miners SQM, Albemarle, Galaxy and Orocobre has ballooned this year, reflecting a sign of growing scepticism.

Gold's outback outperformers urged to turn M&A firepower on US

Gold producers in Australia are outperforming their global competitors, prompting investors to encourage them to expand their horizons and acquire struggling North American rivals.

Rio Tinto down despite $7.2bn cash return to investors

Company said first-half profit grew 12% to $4.42 billion, below the $4.53 billion forecast by analysts.

Falling Chinese electric car production wrenches lithium price

The world’s automakers “don’t worry about lithium supply anymore” – Simon Moores.

BHP, Rio deals show lack of options beyond shareholder returns: Russell

BHP Billiton last week agreed to sell its U.S. shale oil and gas assets for $10.5 billion, while Rio Tinto appears on track to exit its troubled investment in the giant Grasberg copper and gold mine in Indonesia for about $3.5 billion.

Union official at Chile's Escondida mine predicts 'overwhelming' vote against BHP offer

Union members have until Wednesday to finish voting on the company's proposal.

Caterpillar says tariffs will wipe out up to $200M

Demand for mining as well as oil and gas equipment is so strong that the company said it was taking orders for delivery well into 2019.

Chile's Escondida mine workers reject labor offer, to vote on strike

The vote began on Saturday and will continue through the middle of next week.