Australia Mining News

These are top-10 global mining trends expected for 2018

Consulting firm Deloitte has published what it says will be the top-10 global trends in the mining industry this year.

Rags to riches tale ends in disaster for ‘mini-Glencore’

Elman, 77, has watched another global commodity-trading powerhouse collapse before his eyes over the past year: his own.

Wood Mackenzie cuts iron ore price outlook as markets fall again

The UK-based research and consultancy group has dropped its price forecast to $63 a tonne or 12% below last year's average of $71 per tonne.

China demand and tight supplies set to sustain nickel price rally

LME nickel breaks through $14,000 per tonne.

Rio Tinto autonomous trucks now hauling a quarter of Pilbara material

The miner's autonomous haulage system (AHS) fleet has already moved over one billion tonnes of ore and waste material within the Pilbara region of Western Australia.

Fortescue Q2 shipments fall, flags higher iron ore discount

The iron ore producer said shipments fell to 40.5m tonnes in the three months ended Dec. 31 versus 42.2m tonnes in the same period a year ago.

Australia's Newcrest Q2 gold output down marginally, maintains 2018 guidance

Newcrest Mining Ltd's second-quarter gold production fell 0.3 percent from a year ago but rose 17.2 percent over the prior quarter.

Glencore in ‘hiring frenzy’ as it readies to restart Lady Loretta zinc mine

Production at the Queensland-based operation was halted in 2015 because of falling zinc prices. Since then, prices for the metal have more than doubled.

SolGold starts additional drilling at flagship project in Ecuador

The company’s Cascabel project is located in the northern portion of the Andean copper belt in Ecuador, renowned for hosting almost half the world’s copper known reserves.

Rio Tinto talks loom as a lifeline for Freeport in Indonesia

When it comes to finally reaching a deal to secure Freeport-McMoRan Inc.’s long-term right to keep mining in Indonesia, the ball appears to be firmly in Rio Tinto Group’s court.

Canada’s Gahcho Kue diamond mine boosts Anglo American output, but copper flat

The company beat expectations on Thursday with a 5% increase in 2017 production.

Caterpillar beats estimates again, delivers bullish outlook for 2018

The world's largest mining and construction equipment maker beat market expectations for fourth quarter earnings and said its sales growth momentum is expected to continue in 2018.

Goldman, Citi final bidders for Scotiabank's metals business

The field of prospective bidders for ScotiaMocatta, the metals trading arm of Canada's Bank of Nova Scotia, has narrowed to two.

Rio Tinto and two former top execs must face fraud charges — SEC

SEC will push ahead with the prosecution of the company, former chief executive Tom Albanese and ex-chief financial officer Guy Elliott over alleged attempts to cover up multi-billion losses on a coal investment in Africa.

These are some of the top mining assets on the block

Big mining companies, restored to health following the 2015-16 price crash, are seeking to rationalize their portfolios and acquire assets in line with heightened focus on the best quality minerals and anticipated demand for battery materials.

Agarwal plans to keep his Anglo American stake for a long time

Indian commodities billionaire said the rally in Anglo American Plc vindicated his personal bet in the mining group.

Rio Tinto bets big on Mongolia, opens local office

The new unit, under Mongolian leadership, will focus on exploration and local ties.

Australian shares slip slightly on Wall Street pause; NZ little changed

Wall Street fell on Thursday after a run of strong performances from the Dow Jones Industrial Average and the S&P 500 index.

Force Majeure at Oyu Tolgoi mine due to border protests

Measure was taken as Chinese coal haulers continue to disrupt deliveries near the border with Mongolia, the mine's majority owner Turquoise Hill said.

Vale confirms talks with BHP over Samarco exit

During a meeting with investors and analysts in Sao Paulo, Vale’s investor relations director, André Figueiredo, said it seemed “natural” for his company to become the sole owner of the project.

Lucapa finds monster diamonds at Lulo, including largest coloured one

The Australian miner has also unearthed the tenth +100 carat stone recovered from Lulo since mining operations began two years ago.

Rio’s Oyu Tolgoi mine in Mongolia hit with $155 million tax bill

Rio Tinto-controlled Turquoise Hill said the bill relates to an audit on taxes imposed and paid by the mine operator between 2013 and 2015.

New indicated resource points to expansion at New Century Zinc Mine

The re-start of a mothballed zinc mine in Australia is turning out to have a strong upside for both the mining company and its investors. 

China imported a record amount of iron ore in 2017

Hunger for high-quality iron ore from Australia and Brazil pushed Chinese imports of the steelmaking ingredient to a record high in 2017.

World seaborne coal trade rose 1.5 pct in 2017 – German importers

This rise happened due to a recovery in output in producer countries such as the United States, Russia and China and an accompanying rise in export activity.