Unrest and strikes in Indonesia, Chile, Australia and Africa, a shortage of skilled workers in North America and rising labour costs all over the globe are quickly becoming the most serious downsides of a mining boom that started almost a decade ago. While a historically high overall jobless rate is masking spiking wages in the resources sector in the US, workers in emerging markets are shutting down operations of mining companies deemed not to be sharing record profits fairly.
Australia Mining News
Winmar Resources, a company backed by Fortescue Metals chairman Andrew Forrest, is expected to announce today a deal with an Indian iron ore giant that could lead to could lead to further Indian investment in the mining sector.
Rob Burgess of Guardian Weekly comments on the conflict between the number of foreign workers needed for the Australian resource industry, and the number of immigrants with the English language skills to fill those positions safely and productively.
A leading mining professor says the future of Australian mining could be in jeopardy if companies don't get serious about their safety records, Australian Mining reported: Professor Peter Lilly, Executive Director of Minerals and Energy Strategy at Curtin University, told the Mining & Engineering WA conference that the unless the mining industry ensures it can have zero fatalities, mining will no longer be a possibility in Australia.
IPO activity in Western Australia continued to increase post the global financial crisis (GFC), according to new figures released from the Deloitte Corporate Finance survey. Western Australia produced 63 IPOs in the year ending 30 June 2011 (FY11), almost double the 33 IPOs in the previous financial year.
CAT in major autonomous truck milestone with Fortescue while Rio doubles its Komatsu driverless fleet
Caterpillar has made a key announcement on the progress of its autonomous truck program. Together with Australian dealer WesTrac, CAT has signed a Memorandum of Understanding (MOU) with Fortescue Metals Group to implement an autonomous mining solution for Fortescue’s new Solomon iron ore mine.
India's GVK Power, a unit of infrastructure major GVK Group, which had inked a deal to purchase two of Hancock Prospecting's thermal coal mines in Australia for around $2.4 billion, is set to raise $1.2 billion as debt to part fund its acquisition. The Hyderabad-based GVK Power has roped in ICICI Bank to syndicating the $1.2 billion loan. Sanjay Reddy, vice chairman of GVK, signed an agreement with Gina Rinehart, chairman of Hancock, earlier in June.
Reuters reported that iron ore production in Australia, the world largest exporter of the steelmaking raw material is rising rapidly to keep pace with projected increases in China led demand.
Austmine, which promotes Australian mining equipment, technology and services (METS) to global markets, found that many companies would like to do business with BRIC markets, but can’t because of high barriers. In a recent Austmine member survey, over 50% of those who participated said high barriers restricted business dealings with Brazil, Russia, India and China. Brazil topped the list with 23% of companies seeing it as the market with most difficulties.
Under the first contract, AMEC Minproc has commenced work for Paladin Energy on the definitive feasibility study for the major Stage 4 expansion of the flagship uranium operation, Langer Heinrich. The study is targeting an overall expanded annual production of 10 Mlb and AMEC is designing and costing the main processing plant out of its Perth office, Australia. Read more
An environmental engineer says Energy Resources of Australia (ERA) should not have reopened its uranium mine within Kakadu National Park last month without committing to a waste water treatment plan. The company had to stop processing uranium ore for five months during the Northern Territory wet season because its radioactive tailings dam got too close to capacity. Image of Ranger Uranium Mine in Kakadu National Park, east of Darwin, Australia was uploaded to Wikipedia by Stephen Codrington
Proto Resources & Investments has received a mining lease from the Tasmanian Government for the firm's Barnes Hill project near Beaconsfield, Tasmania, for an initial period of 15 years.
Business Spectator reports the scale of the challenge confronting new Murchison Metals chairman, and former AGL chief executive, Greg Martin has been made clear by Monday’s presentation on the proposed Oakajee Port and Rail project and Murchison’s Jack Hills iron ore joint venture. Murchison, a company with a market capitalisation of less than $300 million, is trying to develop projects with combined capital costs of almost $10 billion.
The Aluminium Corp of China said the Queensland government had terminated the discussions over possible development of bauxite resources in Australia.
Economies of scale are now being reached at Cairn Hill, as unit costs per tonne are falling as production is being ramped up. Phase one ore at the operation is expected to deliver 7.9Mt from two pits, generating revenue of A$250m at current prices.
It is reported that Queensland is attempting to quarantine its boom coal-seam gas industry from the Gillard government's carbon tax after successfully gaining an exemption from the mineral resources rent tax. The Bligh government is arguing for further
It is reported that Ms Gillard government climate change adviser Mr Ross Garnaut has defended his attack on the coal sector aggressive opposition to a carbon tax, calling research by the industry to fight the policy as professionally wrong. Professor
It is reported that Gindalbie Metals has joined a growing list of West Australian miners confirming major cost blowouts on significant projects as it flags a 62% jump in operating costs. The miner which is developing the Karara iron ore project with
Reuters quoted a company source with direct knowledge of the matter said Nippon Steel Corp, the world No 4 steelmaker is not in talks with Australia Sundance Resources on its USD 4.6 billion iron ore project in West Africa. The source said "We are not in
FOR some, the Bre-X gold fraud scandal of the 1990s wasn't all bad. Before the addition of scrapings of gold jewellery to assays from the Canadian company's Indonesian deposit was uncovered, the alleged high-grade drill results sent scores of geologists trudging over the country in search of similar deposits.
BHP Billiton could be set to announce another share buyback, after the successful completion of its $US10 billion ($9.3bn) capital management program. UBS analyst Glyn Lawcock said a renewed capital management plan from the diversified miner was imminent and he was expecting BHP to announce another buyback at its half-year results on August 24.
The proposed Oakajee project port facility site near Geraldton, WA. Source: The Australian VETERAN businessman Ken Court would love to be back at the centre of the decades-long dream to build a deepwater port at Oakajee, a vacant piece of coastline north
Andrew Michelmore, the Rhodes Scholar who plotted China’s biggest metals takeover bid, said Beijing isn’t calling the shots when it comes to buying commodities for the world’s fastest-growing major economy.
The Greens' push to shut down the coal industry could severely undermine the nation's economy and sacrifice 200,000 jobs, new economic modelling warns. As the party takes to Federal Parliament today with unprecedented numbers and wielding the balance of power in the Senate, fresh research finds that leader Bob Brown's policy to phase out coal mining would slash GDP by up to $36 billion a year.
TROY ROWLING IT WAS the first time Ken and Aileen Harrison (pictured) had experienced the "hospitality" of the mining industry. About a decade ago, a vehicle of coal workers drove through the front gate of the couple's farm, past the shearing shed the