And why the worst may be over already.
Australia Mining News
They fear the buyer, Malabar Coal, may revive mining at Drayton, which they claim would have have severe impacts on the area’s profitable stud farms and wineries.
The miner faces another shareholder revolt as Australia’s Tribeca has joined calls by US activist investor Elliott Management for an exit from shale to free up capital.
It’s been a bad week for iron ore, with all indices steeply lower on Friday for a second consecutive day.
In Asia, trading was halted after prices sank 7.3%, which is the maximum a day allowed by Chinese regulators.
Australian lithium explorer Pilbara Minerals (ASX:PLS) took a big step today towards its goal of becoming a low-cost lithium producer, by completing offtake arrangements for its flagship Pilgangoora project in the Pilbara region of Western Australia.
An autonomous region of Papua New Guinea has lifted a ban on mining that has been in place since 1971 - but it will not allow the restart of the controversial Panguna copper mine which has been the source of deadly internal strife.
The Perth-based miner has agreed to purchase 45 million shares of the Canadian junior at a price of $2.45 per share, or about 15% of Arizona Mining’s outstanding shares.
The lenders’ move follow a decision by Australia’s second-largest bank Westpac to only fund new projects in existing, rather than new, coal basins as part of its new climate policy.
A bacteria that re-concentrates gold grains into nuggets is being targeted by researchers for its potential to optimise gold extraction processes from ore, old tailings or recycled electronics.
The company has officially informed workers of its plans to offload the mine, noting that while there are several interested parties, the process could take months.
Net income totalled $2.5 billion, compared with profit of $525 million in the prior three months and almost $1.8 billion a year earlier.
New World Bank outlook for commodities predict 32% price jump for zinc and 18% for copper and lead, but outlook for nickel price in 2017 is murky.
The European country holds between 1.2 to 1.4 million tonnes of lithium, located mostly around the tiny village of Cinovec, on the border with Germany.
The miner said decision was unrelated to Elliott Management's call earlier this month to unlock shareholder value by spinning off about $22 billion of BHP's US oil assets.
BMI Research expects prices to continue sliding for at least the next five years on rising supplies from Australia and Brazil and expectations for a surplus.
The giant equipment maker's quarterly profit surged past estimates helped by a recovery in most of its end markets.
Both iron ore and diamond output rose in the first quarter thanks to a continued ramping-up of the company's Minas Rio mine in Brazil and improvements in the gem market.
BHP Mitsubishi Alliance (BMA) has announced it will invest over two hundred million dollars into the Bowen Basin, creating hundreds of jobs, which shows the ongoing strength of Queensland’s coal industry.
–9% on Friday.
They're pressing the company not only to accept a proposal by activist investor Elliott Management to spin off its US petroleum business, but to fully demerge all of its oil and gas assets.
Production for the first three months of the year slumped 37% compared with the same period of 2016.
Drops 4% to $289.50 a tonne despite greater than expected Australian supply outage.
Production of the steelmaking raw material jumped 11% to 86.2 million tonnes in the January-March period, compared to the same quarter a year earlier.
Chinese back out of $1.5 billion deal for Barrick's Kalgoorlie stake – JV partner Newmont has long expressed interest in acquiring half of Super Pit.