Novo Resources Corp. is pleased to announce that the Company has entered into a memorandum of understanding (the “MOU”) with Sumitomo Corporation, Japan (“Sumitomo”) to further develop the Company’s Beatons Creek project in the Nullagine region of Western Australia. The MOU is non-binding except as to certain provisions.
Australia Mining News
Rio's sale of The Australian Trilogy, an AUD$1.8 million one-of-a-kind coin collection featuring a pink, purple pink and violet diamond from the Argyle Diamond Mine, sold out in a month.
Combined worth of 50 largest mining companies grow to $768 billion during first half of 2017, but a few big names drop down rankings.
China's supply of steel scrap is surging as aged buildings, bridges and cars produced over decades of rapid economic growth are knocked down, dismantled or crushed.
Dam restrictions in China following excessive rains are also reducing hydropower capacity there, including at the world's biggest power station, forcing utilities to ramp up output at coal-fired utilities.
New report argues that a high-efficiency, low emissions coal-fired station would cost less than the almost A$3 billion in subsidies handed out by the government to renewable projects each year.
Australia's Northern Territory will soon be producing gold again thanks to Emmerson Resources (ASX:ERM), which is advancing the Edna Beryl gold mine along with Australian gold producer Evolution Mining (ASX:EVN).
It also said that a Brazilian court had granted it and its partner Vale a four-month extension to negotiate a settlement to a $47 billion claim stemming from the 2015 mine disaster.
Escondida, majority owned and operated by BHP, produced 97,103 tonnes of copper between January and March, down from 265,597 tonnes a year earlier.
Physical markets, not just futures speculation behind the latest rally
Doug Hoerr, Caterpillar's vice president of the material handling & underground division, is retiring in August after more than 20 years with the company.
The approval ends a three-week bidding war between Yancoal and Glencore over Rio's thermal coal assets in Australia.
China bulls kick iron ore price 6.5% higher.
Govt investing in lithium mine for first time
South Flank will replace lost production from 80mtpa Yandi operation reaching end of its life.
The company has chosen to sell its Hunter Valley coal mines to China-backed Yancoal, but shareholders will decide.
Iron ore's demand-driven price surge last year is increasingly looking like an aberration as supply factors once again start to weaken the price outlook.
Fresh bid is far better than the $2.55bn it offered earlier this month and considerably more than the $2.45bn offered by Yancoal, the Chinese-backed miner that is Rio’s preferred buyer.
Having climbed almost 64% since the start of the year, investor sentiment towards SolGold appears to be quite positive.
Australia's Atlas Iron, which narrowly escaped collapse when iron or prices crashed in 2015, has deferred construction of a new mine, citing weak prices for the steelmaking commodity.
Toro Energy's Wiluna project, Vimy Resources' Mulga Rock project, as well as Cameco's Kintyre and Yeelirrie projects allowed to go on.
New Citigroup report predicts low $40s by end of the year, early 2018.
The acquisition would make of Yancoal Australia’s largest pure-play coal producer.
Mongolia’s renewed efforts to attract foreign investment it’s bearing its first fruits.
It’s a buyer’s market—if you know what you’re looking for.