Australia Mining News

Australian bauxite development discussions terminated – Chalco

The Aluminium Corp of China said the Queensland government had terminated the discussions over possible development of bauxite resources in Australia.

IMX Resources reaches 500,000t shipped ore milestone from Cairn Hill in just 7 months

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.

Ms Bligh seeks to build on exemptions for coal seam sector

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

Australia climate change economist strikes out at coal claims

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

Gindalbie Metals joins cost blowouts list

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

Nippon Steel not in race for Sundance iron ore project – Report

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

Kingsrose discovers gold lining

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 eyes second share buyback

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.

Long path to Oakajee deal

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

China Metal Acquisition Binge Led by Australian Rhodes Scholar

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.

Push to can coal puts 200,000 jobs at risk

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.

Mining strips quality of life

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

Chinese snubbed in Australian open bauxite tender

THE Queensland Government will call an open tender for the development of Aurukun's bauxite resources, snubbing the giant Chinese company Chalco.

Australia's Cougar Energy charged over well rupture

The Queensland government has laid charges against a mining company for allegedly contaminating groundwater with cancer-causing chemicals. The state's Department of Environment and Resource Management has laid charges against Cougar Energy after a gas well ruptured at a site south of Kingaroy where the company was trialling underground coal gasification.

Tigers Realm Coal $400m IPO roadshow to kick off despite new listing doldrums

Always a blue-sky kind of guy, Oxiana founder Owen Hegarty once said few things on this planet are more valuable than an Oxiana share. Investors can expect a similar level of enthusiasm when Credit Suisse launches an investor roadshow for a $400 million public listing of Hegarty's Tigers Realm Coal next week.

BHP Australia refinery resumes nickel production

BHP Billiton said on Wednesday that production at its Kwinana nickel refinery in Western Australia had restarted as planned in early June. "In line with our previous guidance, production at Kwinana resumed in early June," a spokesman told Reuters.

Proto Resources: Government grants mining lease for new Tasmanian project

The Directors of Proto Resources & Investments Ltd are pleased to announce that the Tasmanian Government has granted Mining Lease ("ML") 1872P/M over the area of the company's Barnes Hill project near Beaconsfield.

Star sells Rio’s sparklers to China

Most Australians have never heard her name, but WA's biggest diamond producer hopes Hong Kong celebrity Louisa So Yuk Wa will help launch it into one of the world's fastest-growing jewellery markets.

$3.5bn writ hits West Australia mines deal

The coalmines that once powered the fortunes of reclusive West Australian millionaire Ric Stowe are at the centre of a $3.5 billion lawsuit between the mines' new owner and its biggest customer, fertiliser manufacturer Perdaman Industries.

China coal company buys $200m worth of Australian farms

It has been brewing for some time, but the revelation that Chinese state-owned company Shenhua Watermark Coal had spent about $200 million buying up 43 farms on prime agricultural land near Gunnedah in New South Wales has led to calls to halt the so-called foreign "land grab".

Moly Mines secures $494m loan from China Development Bank

Moly Mines Ltd (MOL.TO: Quote) (MOL.AX: Quote) said it got loans totalling $494 million from China Development Bank Corp(CDB) for the construction of its Spinifex Ridge molybdenum and copper project in Western Australia. The miner said the loans will include a $454 million syndicated loan. CDB will also provide the company with a $40 million working capital loan.

Australian mining industry 83 pct foreign-owned

Australia's mining iAustralia's mining industry -- the main driver of the booming economy -- is 83 percent foreign-owned, according to a study released by the country's Greens party Wednesday. The report, conducted by a private consultant commissioned by the Greens, said that in the next five years Aus$50 billion (US$53 billion) in profits from Australian mining operations would go offshore.ndustry -- the main driver of the booming economy -- is 83 percent foreign-owned, according to a study released by the country's Greens party Wednesday. The report, conducted by a private consultant commissioned by the Greens, said

Moly Mines signs US$494 million debt facilities for the Spinifex Ridge Molybdenum/Copper Mine

Moly Mines Limited (TSX:MOL)(ASX:MOL) said today it has signed various project debt agreements with China Development Bank Corporation (CDB) totaling US$494 million for the construction of the Spinifex Ridge Molybdenum / Copper mine (Spinifex Ridge), Australia. Image by Moly Mines Limited

Counting down to Australia’s biggest-ever mining event

With Australia’s mining industry on the cusp of another boom – and a major contributor to the country’s economy at present – this year’s Asia-Pacific's International Mining Exhibition (AIMEX) will be the largest mining exhibition ever held in Australia.

Australia’s queen of iron ore set to become the world’s richest person

Australian businesswoman Gina Rinehart who inherited a debt-ridden mining company 20 years ago, is predicted to become the world's richest person, according to media reports on Tuesday. Rinehart, 57, is already the richest Australian after her wealth more than doubled to $10.3bn this year. That still places her far behind Carlos Slim, Mexico's cellphone magnate worth some $73bn, but Rinehart's 100%-owned Hancock Prospecting has massive iron ore and coal projects that will start producing by 2014 and earn her annual profits of as much as $10bn.