Australia Mining News

Rio Tinto to spend US$1.2 billion in Canada, Australia

Australia Business Reviews reports: Rio Tinto’s quest for world domination in the mining industry continues with its latest US$1.2 billion investments in mining projects in Canada and Australia.

Mining magnates top Forbes list of richest Australians

Georgina Rinehart is Australia's wealthiest individual with an estimated net worth of $9 billion, according to Forbes list of Australia's 40 Richest released on Wednesday. Rinehart's net worth rose $7 billion from the previous year's […]

Xstrata Completes Construction of Magnetite Plant in Queensland, Australia

Xstrata Copper announces the completion of construction of the magnetite base plant at Ernest Henry Mining (EHM), a key component of the AUD589 million (US$542 million) project to transform EHM into a major underground copper-gold […]

4B Braime opens new subsidiary in Australia

4B Braime, leading supplier of elevator and conveyor components, has created a new operation especially for the Australian market. Read more

Mining sector faces ‘fierce’ competition for top talent

The Australian mining industry could face a “significant” skills shortage and “fierce” competition for skilled labour this year, a report by recruitment consultancy Robert Walters found on Tuesday.

Production up and costs down at New Gold

New Gold was up 2.20 percent on the TSE on Wednesday morning after announcing record production and lower cash costs. The mid-sized miner, with properties in the United States, Mexico, Australia, Canada and Chile, said […]

Queensland coal mines now threatened by massive cyclone

Forecasters warn Cyclone Yasi, similar in size and strength to Hurricane Katrina, may sweep deep inland, generating winds of up to 280 kph. Coal mines and rail lines closed. Evacuations under way in three cities.

Moly Mines receives $250 million of help from China Development Bank to develop molybdenum/copper mine

Moly Mines Ltd. announced on Sunday that it received a commitment letter from the China Development Bank for US$250 million to be used for the development of a molybdenum/copper mine. CEO of Moly Mines, Dr. […]

Ramelius' new drilling strikes visible gold at 2 WA gold projects

The Directors of Ramelius Resources Limited (ASX: "RMS") are pleased to advise that several new drill holes within the company's wholly owned Wattle Dam gold mine, and the Mt Magnet gold project, both located in WA, have intersected visible gold.

Diamond Deficit To Fuel Global Market Within Three Years

The whole issue of blood diamonds refuses to go away, even though Zimbabwe’s deputy mines minister, gift Chimanikire, rather wishes it would. He told Diamond Investing News this week that the country will hold two auctions, after getting written permission from the Kimberley Process, the international body set up to monitor the distribution of conflict diamonds.

Aluminum Market Walking Into A Bullish 2011

The aluminum market's lifeblood is manufacturing and packaging - and times are looking better in these early days of 2011. The metal is now trading at $2,505 per metric ton and continues to bounce around the $2,550 level, MF Global writes in a LME Daily Metals Report this week. While there's a strong floor at $2,430, upside resistance kicks in around $2,541, it said.

Tin constraints looming

The global tin market is generally driven by producers in Indonesia, China and Peru. The production of the silverly, malleable metal – used for things like steel-plating – has been in decline in these markets, in part because poor weather has challenged operating conditions and undermined transport.

Global iron ore market in flux

The iron ore market will never be as a sexy as its gold and silver counterparts; it’s much more about hard hats and dirty Dodge RAM 3500 trucks – you know, the ones that can pull big fishing boats up mountainsides, something I did just this past weekend.

Tungsten resurgence

The steel-gray metal – one known for its high melting point, which makes it ideal for use as a filament, superalloy or in military applications – is making a resurgence as market machinations in China restrict exports and western miners scramble to meet demand.

Determined recovery by Queensland’s biggest earner: the coal industry

Despite the prospect of an estimated A$2.3 billion worth of lost sales from wet season events beginning early December 2010, Queensland's export coal industry is moving with determination to restore the state's leading income earner. 

Australia floods force ships to look for coal supplies elsewhere

Reuters reports:  An increasing number of dry bulk carriers are departing eastern Australia's coal ports empty-handed as devastating floods force companies to look for supplies elsewhere, traders and industry experts said.

Major Australian mining contract further increases global presence for Redpath Group

Copper Mines of Tasmania, a subsidiary of the world's largest zinc miner, Vedanta, is working with Redpath Australia, part of The Redpath Group (based in North Bay, Canada) on mine development and construction at Mt. Lyell, Tasmania.

Australian mines will need months to pump out flood waters

According to mining contractors, coal mines in Australia's flood-ravaged Queensland state could take up to six months to return to full operation.

Australia coal losses mount

Australia's devastating floods could remove 5 percent or more of steelmaking coal from world markets, a major bank estimated on Wednesday, as signs emerged that damage and disruption to coal infrastructure continued to spread with […]

Rio declares force majeure on Boyne aluminium

Premiums for spot primary aluminium in Asia are unlikely to rise after Rio Tinto declared force majeure on shipments from its Boyne unit, due to weak demand and sufficient supplies. Photo by Patrick Hoesly.

Contract miner Leighton says floods halt activities

Mining Weekly reports: ASX-listed contract miner and construction specialist the Leighton Group on Wednesday reported that a number of its contract mining operations in Queensland had been affected by the severe weather conditions in Queensland.

South Korea's POSCO reluctant to pass rising steel costs to buyers

The chief executive of POSCO, the world's No.3 steelmaker, said it would be difficult to raise steel prices enough to cover rising raw materials costs stemming from flooding in Australia, which has affected coal mines, rail links and ports.

Fortescue Investing $8.4B to Expand Iron Ore Production

Fortescue Metals has approved capital expenditures totaling $8.4 billion to expand its iron ore production in Western Australia from 55 million to 155 million mt/y over a period of 30 months. The expansion and spending […]

Aker Wirth and Rio Tinto sign contract for part of Rio Tinto’s Mine of the Future™ program

On November 29 last year Aker Wirth and Rio Tinto signed a contract for the delivery and testing of the first Tunnel Boring System (TBS), which has been developed for Rio’s Mine of the Future program. The TBS embodies Aker Wirth’s innovative Mobile Tunnel Miner concept and will be tested at Northparkes copper mine in Australia. This [...]

Xstrata says it is too early to say when its Blakefield South mine will reopen

The mine, in Australia's New South Wales was closed on Wednesday after a fire broke out in the mine Coal miner Xstrata on Friday said it was too early to say when it could reopen Australia's Blakefield South coal mine, which has been shut down due to a