In October 2010 the Chinese government shut down 1,611 illegal coal mines in an effort to improve an industry whose working conditions have been described as harsh, dangerous, and often fatal. Last year in China more than 2,600 people died in mining-related accidents, including explosions, floodings and cave-ins, although fatalities have decreased in recent years due to increased safety inspections and the government shuttering illegal mines.
Australia Mining News
Production of gold Down Under was at its highest levels since 2003 as miners cashed in on record prices, the Daily Telegraph was reporting on Sunday: Gold output from domestic mines in 2010 lifted by about 17 per cent or 38 tonnes to 266 tonnes or 8.5 million ounces (oz), Melbourne-based industry consultants Surbiton Associates Pty Ltd said in its latest survey of the Australian gold mining industry. "Gold produced from Australian mines in 2010 was worth some AUS$12 billion at the current spot price," Surbiton director Sandra Close said. "Gold remains one of Australia's top export earners."
Fortescue Metals Group has discovered more than one billion tonnes of iron ore in Western Australia's Pilbara and aims to develop it rapidly. Sydney Morning Herald reports: The new project, named Nyidinghu, is about 35 kilometers south of Fortescue's first mine, Cloudbreak, and contained an inferred resource of 1.032 billion tonnes of ore at a grade of 58 per cent iron, the company said.
Major global mineral sands producer, Iluka Resources returned to profit in 2010, primed by a dynamic transformation in the December half year. Iluka Ltd (ASX: ILU) reported a profit for the year of A$36.1 million (US$36.53 million) aided by higher zircon
The two mines, Blair Athol and Kestrel have been under force majeure since late December, after severe flooding in Queensland.
Pro and anti-uranium mining unions are marshalling forces in Queensland, Australian Mining is reporting. On the pro-side, the article says that the Australian Worker Union (AWU) will lobby governments to expand mining and overturn bans. On the other side, the Electrical Trades Union (ETU), which mostly represents electrical, communications and power industry workers, says it will oppose the expansion of uranium mining in Australia, citing safety concerns around exposure to radiation.
Andrew "Twiggy" Forrest may face directorship ban following the overturning of an earlier court case by the Australian Federal Court Today proved to be a day of champagne followed by flat beer for the chief executive of Fortescue Metals Group Ltd (ASX:
The Australian miner said annual sales could fall by around a fifth as a result of the heavy flooding that in the country that affected some of its collieries Australian miner Macarthur Coal's annual sales could fall by around a fifth
“Worldwide, Canada, Australia, Brazil, and Chile will likely remain the best jurisdictions in which to invest in and develop mining projects. Each of these nations will likely continue to see economic growth and mining investment.” This comment comes from a report, 2011 Ranking of Countries for Mining Investment Where ‘Not to Invest’. Most of us will agree with the company’s statement “the mining industry is vital to the creation of wealth and prosperity in any country. Countries that stifle it with detrimental political, economic, financial, and regulatory policies should be challenged to make changes that are more accommodative to its success.”
Temporary suspension of Laverton (WA) mining operations due to cyclone-related rains Crescent Gold Limited (ASX: CRE, TSX: CRA) advises that as a safety precaution, it has temporarily suspended operations at the Company's wholly-owned Laverton Gold.
The recent news that Ridley Terminals Inc (RTI), located near Prince Rupert on Canada’s northwest coast, has signed a new long-term agreement with its largest shipper, Western Coal Corp, comes at an opportune time.
Colorado-based Connors Drilling and sister company, Sanderson Drilling of Western Australia have purchased the assets of the Surface Diamond Division of Swick Mining Services (ASX: SWK) of Australia.
Rio Tinto announced net earnings of US$14.324 billion in 2010, up from US$4.872 billion in 2009. The company also announced a $5 billion share buy-back program and a 20 per cent increase in its dividend […]
Ian Smith, CEO of Newcrest Mining Limited, announced on Friday that he is stepping down. Greg Robinson, executive director of finance at Newcrest, will succeed Smith. During Smith's tenure, Newcrest merged with Lihir Gold, and […]
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.
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 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, leading supplier of elevator and conveyor components, has created a new operation especially for the Australian market. Read more
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.
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 […]
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. […]
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.
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.
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.