Dept of Industry says loss-making mines are staying open for longer than expected aggravating oversupply.
Australia Mining News
A suite of high grade gold assets in South Korea, most of them historic underground or artisinal gold and silver workings, some of which extend over a large footprint, are to be acquired by Australian gold producer, Southern Gold Limited (ASX: “SAU”).
Red metal production at the copper-uranium mine is expected to hit around 230,000 tonnes by 2021, but there is potential for up to 450,000 tonnes per year.
Adelaide-based Reclaim PV has teamed up with major solar panel manufacturers who distribute in Australia and is refining its processes as well as lobbying for panels to be included in recycling regulations.
SOME of the first geological images of one of the world’s last unexplored mineral frontiers have glimpsed the mining potential of Australia’s vast Nullarbor Plain.
With the expansion, Escondida is targeting an average output of 1.2 million tonnes a year over the next decade, up from about 940,000 tonnes it produced last year.
The Blair Athol mine, closed in 2012, would be the second Australian coal asset in a year to be sold for just A$1.
BHP has been developing its own Canadian potash mine — the Jansen project — in Potash Corp's backyard, and has already invested about $3.8 billion on it.
Australia has about 40% of the world's uranium reserves and exports nearly 7,000 tonnes of yellow cake annually.
Chile’s Escondida produced 265,597 tonnes in the period, or 23% less than the 347.125 tonnes it generated in Q1 2015.
Decision follows a company review of the asset that was triggered by the Bouganville government’s pressure to restart mining at Panguna or give it up.
Iron ore advanced to a 5-week high of $53.40 on Tuesday, but analysts see steep decline in the final quarter of 2016.
Report claims that Walter Energy, Patriot Coal, Alpha Natural Resources, Arch Coal and Peabody Energy also allocated more than half a billion dollars for top executives salaries in decade before going bankrupt.
Moody's says AngloGold Ashanti, Gold Fields will start spewing cash as gold price rise and currency falls combine – for Anglogold it's an extra $20m a month.
It will raise its annual exploration spending by 29%, allocating nearly all its $900 million budget to finding new copper and oil deposits in the fiscal year beginning next month.
Eden and Deakin University finalise agreement for ARC-funded research project into use of EdenCrete™ in ultra-high strength concrete to reduce or eliminate steel reinforcing
The ARC grant, funded by the Commonwealth of Australia, will provide a total of A$300,000 over the three year life of the research project.
Gold climbs the most in eight years, while copper and oil fall.
Beijing's already cut coal miners working hours by 16% and plans to eliminate 500 million tonnes of coal capacity within just 3–5 years.
Today, with the gold-mining sector in good financial shape, some historic mines in the region are being revived or expanded.
The University of South Australia has formed a collaborative research funding partnership with Centrex Metals Limited in a bid to use the cutting-edge technology to significantly reduce energy and water usage, and therefore the cost of mineral processing using molten salts.
"The shift schedules are demanding. The work is repetitive. There are issues trying to keep people engaged in the work that they are doing."
Combined these mining and metal giants are worth $700 billion with operations in every corner of the world.
Rumours follow Rio's decision to group its least loved units — coal, uranium salt, borates and its Iron Ore Co. of Canada — under a new umbrella branded as the “energy and minerals” business.
Hazer further progresses towards commercialization of low-emission hydrogen and graphite production process
Hazer Group Ltd (ASX:HZR, HZRO) is pleased to announce the appointments of Dr Andrew Harris as a Non-Executive Director of the Company and Dr Andrew Minett as the Chairman of Hazer’s newly created Science Advisory Committee.
Chief executive Andrew Mackenzie believes the iron ore market will take longer to balance out than other commodities due to an excess of supply coming on stream in the next few years.