Australia

Mining M&A: Private equity can't run away fast enough

Frik Els | January 29, 2015
Mining M&A: Private equity can't run away fast enough

The smart money is waiting for fire sale prices before jumping into metals and mining. Or worse; has simply lost interest in the sector.

Australian uranium miner accused of contaminating Lake Malawi

Global Research | January 29, 2015

Paladin Energy, an Australian mining company, has been accused of discharging uranium-contaminated sludge into Lake Malawi, which supports 1.7 million people in three countries – Malawi, Mozambique and Tanzania.

Anglo American set for commodity slump-triggered charge

Cecilia Jamasmie | January 28, 2015
Anglo American set for commodity slump-triggered charge

The firm became the first major mining company to openly accept the toll that slumping commodity prices are taking on the global industry.

RPM receives award for Mine Scheduling Solutions

RungePincockMinarco (RPM) | January 28, 2015

A well-known mining publication has just announced that RungePincockMinarco (RPM) has won their annual innovation award in the category of Mine Planning/Resource Modeling for their XPAC Solutions suite of products.

Glencore mulls shutting down South African coal mines, lay offs

Cecilia Jamasmie | January 28, 2015
Glencore mulls shutting down South African coal mines, lay offs

The miner, one of the biggest exporters of South African coal, may re-open those operations if economic conditions improve.

Cliffs restructures Bloom Lake iron ore mine, seeks creditor protection

Cecilia Jamasmie | January 27, 2015
Cliffs restructures Bloom Lake iron ore mine, seeks creditor protection

Chief Executive Lourenco Goncalves said restructuring proceedings have begun in Montreal and sale options will be explored.

Another day another iron ore price drop

Frik Els | January 27, 2015
Another day another iron ore price drop

Another slide on Tuesday drops iron ore price 13.4% year to date, but latest forecasts see another double digit dip from current levels.

Lower gas prices weigh on Peabody’s weak results, expected coal demand

Cecilia Jamasmie | January 27, 2015
Lower gas prices weigh on Peabody’s results, expected coal demand

The U.S. No.1 coal producer projects a much wider-than-expected loss for the current quarter.

The bottom is falling out of the iron ore price

Frik Els | January 26, 2015
The bottom is falling out of iron ore price

Down 4% to fresh five-and-half year low.

Rio Tinto to drop Oyu Tolgoi $1.6bn royalty if expansion gets ok from Mongolia

Cecilia Jamasmie | January 26, 2015
Rio Tinto to drop Oyu Tolgoi $1.6bn royalty if expansion gets ok from Mongolia

Documents obtained and verified by The Australian, show that Rio Tinto offered Mongolia to forsake a “net smelter return” of 2% cent of the project’s revenue.

Cliffs Natural removes quarterly dividend to repay debt

Cecilia Jamasmie | January 26, 2015
Cliffs Natural removes quarterly dividend to repay debt

It also said it has reduced its net debt balance by more than $400 million.

Anglo American mulls sale of more coal mines in Australia

Cecilia Jamasmie | January 23, 2015
Anglo American mulls sale of more coal mines in Australia

The operations that may be added to the list of assets for sale are Dawson and Foxleigh, in Queensland.

Anglo hit by platinum, iron ore units lower earnings outlooks

Cecilia Jamasmie | January 23, 2015
Anglo hit by platinum, iron ore units lower earnings outlooks

The miner shed over 3.7% after two of its business divisions — Amplats and Kumba — warned they expected full-year earnings to shrink more than previously flagged.

Global mining sector ended 2014 on a disappointing note: report

Cecilia Jamasmie | January 21, 2015
Global mining sector ended 2014 on a disappointing note: report

December is a period that sees lower levels of exploration and resource announcements, and last month was every bit as disappointing as expected, an SNL report shows.

China’s alleged intentions to mine Antarctica spark global debate

Cecilia Jamasmie | January 21, 2015
China’s alleged intentions to mine Antarctica spark global debate

New evidence has emerged of China's interest in digging for oil, gas a minerals in the frozen continent.

BHP breaks production records, but copper output drops

Frik Els | January 21, 2015
BHP warns more cost cuts, management shake up before demerger

World number one miner BHP Billiton achieved record production for eight operations and five commodities over the last six months.

Glencore likely to slash spending on coal, oil — HSBC

Cecilia Jamasmie | January 20, 2015
Glencore likely to slash spending on coal, oil — HSBC

The global miner and commodities has estimated spending on oil projects for this year and next of $2 billion and $1 billion on coal expansions.

Rio Tinto’s diamond output down 14% in 2014

Cecilia Jamasmie | January 20, 2015
Rio Tinto’s diamond output down 14% in 2014

The company pointed to the transition of its Argyle mine from open pit to underground, as well as a shift toward processing lower-grade ore at Diavik as the main reasons for the drop.

Rio Tinto digging up more iron ore despite slumping prices

Cecilia Jamasmie | January 20, 2015
Rio Tinto digging up more iron ore despite slumping prices

The world’s second largest iron ore miner is targeting a 18% output increase this year, adding to a mounting global glut that has driven down the commodity price.

Goldcorp strikes $440 million deal for Probe Mines

Cecilia Jamasmie | January 19, 2015
Goldcorp strikes $440 million deal for Probe Mines

The move will see the miner taking control of the Borden Gold project in northern Ontario.

Former Anglo American executive accused of $9.8 million fraud

Cecilia Jamasmie | January 16, 2015
Former Anglo American executive accused of fraud

The miner is now accusing him of 'misappropriating' $9.8 million, more than twice as much as previously thought.

Iron ore price: Closing marginal producers not enough

Frik Els | January 16, 2015
Iron ore price: Closing marginal producers not enough

Next round of displacements will come from mines "that just 18 months ago could have been making $50/mt or more in cash margin" says new report.

These are the top 10 global mining trends for 2015

Cecilia Jamasmie | January 15, 2015
These are the top 10 global mining trends for 2015

Price volatility, geopolitical turmoil, rising costs, declining grades and a general lack of financing will make of 2015 another challenging year for the sector.

Adani's $15bn coal mine in Australia facing fresh legal challenges

Cecilia Jamasmie | January 15, 2015
Adani's $15bn coal mine in Australia facing fresh legal challenges

An environmental group is attempting to radically change the way mining projects are assessed with a court case involving Adani's controversial coal mining complex in Queensland.

2015 Benchmark Report positions Australia as an ideal investment destination

Australian Government | January 14, 2015

The 2015 Benchmark Report was launched by the Minister for Trade and Investment Andrew Robb this week.

Rio Tinto in talks to ship uranium to India

Cecilia Jamasmie | January 14, 2015
Rio Tinto in talks to ship uranium to India

Ceo Sam Walsh has said the firm expects to start exporting Australian uranium to India by 2017.

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