Australia Mining News

Universal says Limpopo coking coal project has 1Bt resource

Junior Universal Coal, which is listed in Australia, has taken a up a 40% stake in the Berenice project in South Africa’s Limpopo, after completing the first phase of drilling at the coking coal project.

Kimberley Metals launches IPO for polymetallic projects

Kimberley plans to raise up to $13.3 million to fast track its copper-gold-silver Mineral Hill mine in central NSW and develop its Sorby Hills silver-lead project in northern Australia.

Boom benefits Australian mining equipment market

The Australian construction and mining equipment market grew by 17% in the first half of 2011 relative to the same period in 2010.

Lift off for Xstrata underground project

Swiss mining giant Xstrata Zinc has begun construction on its A$246 million Lady Loretta zinc, lead and silver underground mine. The mine, located in 140 kilometres north Xstrata’s Mount Isa operations in Queensland, has been scheduled to be in production by the end of 2013.

Mining company abandons Otways coal plan

A mining company has abandoned plans for brown coal exploration in south-west Victoria because of community opposition.

Ausdrill contract win to generate A$75 million over three years in Fortescue’s iron ore and it goes underground

Ausdrill has received a Letter of Intent from Fortescue Metals Group for the award of a mining services contract at Fortescue’s Solomon iron ore project, located in the Pilbara region of Western Australia.

Newmont Board approves Conga project in Peru and Tanami shaft project in Australia

Newmont Mining Corporation (NYSE:NEM) today announced that its Board of Directors approved funding for the Conga project in Peru and the Tanami Shaft project in Australia. Combined, the two projects are expected to add approximately 400,000 attributable ounces of gold and up to 100 million pounds of copper production per year once commercial operations commence in late 2014 to early 2015.

Marathon Resources to meet with mining minister to find a way back to the Arkaroola

Marathon Resources, a uranium explorer in southern Australia, plans to meet with Mineral Resources Minister Tom Koutsantonis after the company was kicked out of the Arkaroola. The Arkaroola is located in the Northern Flinders Ranges in South Australia, adjacent to Gammon Ranges National Park. The area has been a flash point for environmentalists who want to protect the area and miners who want to develop it. Marathon Resources was exploring Mt Gee, calling it one of Australia's largest undeveloped uranium deposits.

Marathon Resources shares tumble

Marathon Resources shares have fallen more than 38 per cent after coming out of a trading halt. The company's stock was placed in a trading halt on Friday last week when the State Government announced it would ban all mining in the Arkaroola Wilderness.

Copper mine 'could rival Olympic Dam'

REX Minerals has forecast more copper from its Hillside project in SA, releasing a blueprint for a 12-year mine to almost rival Olympic Dam in size. "The conceptual study supports our view that Hillside is one of Australia's largest copper development opportunities," managing director Steven Olsen said.

Cockatoo Coal secures A$65m loan facility for development of coal assets

Cockatoo Coal (ASX: COK) has entered into a A$65 million loan agreement with KEB Australia Ltd (KEBA) for the ongoing development of the company's coal assets, infrastructure requirements, and working capital.

Looming strike hits shares of gold producers

Gold mining shares fell yesterday as strikes loom in the sector. AngloGold Ashanti lost 3.13 percent to R293.27, Harmony Gold slid 2.78 percent to R94.30, and Gold Fields fell by 2.60 percent to close at R104.20.

Xstrata to build new zinc mine

Xstrata Zinc has announced construction will begin immediately to develop the $246 million Lady Loretta mineral deposit located 140 kilometres north west of Mount Isa.

New $1.5 billion nickel mine can start dumping waste in PNG ocean

Australia's Highlands Pacific and China Metallurgical Group can now power on their $1.5 billion Ramu nickel project in Papua New Guinea after a judge threw out the environmental challenge to the project's planned deep-sea disposal of tailings after an 18-month legal battle. Ramu is situated on Papua New Guinea's north-west coast and is completely built – annual production is estimated at more than 31,000 tonnes of nickel and 3,300 tonnes of cobalt for over 20 years.

Downer wins Xstrata coal contract

Downer EDI Ltd has secured contract worth more than $400 million with mining giant Xstrata Coal for development of a coal handling and preparation plant (CHPP) at its Ravensworth North Coal Project. The project, expected to secure over 400 jobs in the

Xstrata Zinc to develop Lady Loretta deposit in AUD246m project

Xstrata Zinc announces the commencement of construction to develop the high grade zinc-lead-silver Lady Loretta deposit in north-west Queensland, Australia, as a new greenfield underground mine.

Zijin Mining buys A$27.67m stake of Norton Gold

ZIJIN Mining Group Co agreed to buy a minority stake in Australia's Norton Gold Fields Ltd for A$27.67 million (US$30 million) to boost gold reserves. China's leading gold producer said it would buy 138.35 million shares at 20 Australian cents apiece.

Fy 2011 underlying net profit of A$70m expected – Whitehaven Coal

According to the Australian coal miner, FY 2011 underlying net profits, before significant items are likely to come in at A$70m, boosted by a strong output performance in the June quarter Australia's Whitehaven Coal reported a 48 percent rise in equity

Auzex Resources infill drilling hits more high grade gold at 2Moz Bullabulling JV Project

Auzex Resources ( ASX: AZX ) has expanded the phase two reverse circulation (RC) resource drilling program at the 2 million gold ounce Bullabulling Gold project to 90,000 metres, intersecting high grade gold that underpins confidence in the project.

Aussie stocks brush off US debt woes

The Australian stockmarket remained firm by early afternoon, despite the failure by the US to resolve its debt-ceiling stalemate.

Union power in Pilbara boosted by ruling

A landmark victory in the Federal Court looks set to give unions more power to bargain on behalf of workers at Rio Tinto and BHP Billiton iron ore operations in the Pilbara. The full bench of the court has ruled that a non-union collective agreement covering workers in Rio Tinto's operations was invalid. Yesterday's decision casts doubt on similar agreements at BHP and other operations in the mining region, involving thousands of workers.

Fortescue can still make profits at US$70/t, new CEO says

The bubble that is keeping iron ore prices at historic highs may be about to burst, and when it does, iron ore giant Fortescue Minerals will still be making money, the company's new CEO predicts.

Australia's Whitehaven Coal expects FY'11 underlying net profit pre-items A$70 mln

Australia's Whitehaven Coal reported a 48 percent rise in equity coal output in the June quarter versus the same period a year ago and said it expects to show a fiscal 2011 underlying net profit of A$70 million before significant items.

Macarthur coal exports plunge amid due diligence

Macarthur Coal, the mining group that is the target of a $4.7 billion takeover bid by US energy company Peabody Energy and steel giant ArcelorMittal, has suffered a steep slide in sales a result of wet weather. Macarthur's sales in the June quarter tumbled 22.5%, with its annual sales down 26.5% to 3.9 million tonnes. Peabody and Arcelor have sweetened the deal following a couple of failed attempts in the past three years and is set to complete due diligence at the end of the week.

Test plant to examine a new cost-effective way to process nickel laterites

A new cost-effective way to process nickel laterites known as the DNi Process will be thoroughly examined by a test plant currently being built in Western Australia.