Australia

Iron ore price back below $50 after Chinese property shock

Frik Els | April 15, 2015
china-building-construction-333

GDP slowdown was expected but China's property sector, responsible for half of steel demand, is in a tailspin as Q1 unsold inventory rises 24%.

BHP won’t reveal tax bill estimate in audit over Singapore hubs

Cecilia Jamasmie | April 10, 2015
BHP won’t reveal tax bill estimate in audit over Singapore hubs

On the last of a three-day national hearing, BHP and Rio acknowledged they were in ongoing discussions with auditors from the Australian tax authority.

Annual gold trade reaches $22 TRILLION

Frik Els | April 9, 2015
Annual gold trade reaches $22 TRILLION

New report shows In 2014 volume of gold traded in London, Shanghai, New York and around the globe was 3 times more than all the gold mined in human history.

Signs of life for mining M&A

Cecilia Jamasmie | April 8, 2015
Wave of mining deals expected this year amid commodity rout — report

Mining transactions almost doubled last year and the trend is likely to stretch over 2015, as lower commodity prices are making some unprofitable.

Australia treasurer vows to block Glencore-Rio Tinto merger

Cecilia Jamasmie | April 8, 2015
Australia treasurer vows to block Glencore-Rio Tinto merger

This wouldn’t be the first time Hockey hinders a major corporate deal in Australia.

Iron ore price breaks fall, claims big scalp

Frik Els | April 7, 2015
Iron ore price breaks fall, claims big scalp

Iron ore regained its footing Tuesday, but too late for once high-flying Atlas Iron as 13mtpa producer's shares are suspended and receivership looms.

Nautilus Minerals resumes undersea mining exploration

Cecilia Jamasmie | April 7, 2015
Nautilus Minerals resumes undersea mining exploration

The goal is to expand Nautilus’ Seafloor Massive Sulphide prospect inventory around Solomon Islands, located east of Papua New Guinea.

Appointment of South32 non-executive directors

BHP Billiton | April 7, 2015

BHP Billiton has announced four additional appointments to the Board of Directors of South32.

Mongolia halts landmark deal with foreign firms over massive coal mine

Cecilia Jamasmie | April 7, 2015
Mongolia halts landmark deal with foreign firms over massive coal mine

The country's parliament decided Tavan Tolgoi needs the approval of legislators before going ahead.

Barrick hints at Mick Davis deal

Frik Els | April 6, 2015
Barrick hints at Mick Davis deal

Sounds like just about everyone in mining is hoping to get into bed with Mick Davis and his $5.6 billion.

Iron ore plunge to blow $3.6B hole in WA budget

Andrew Topf | April 5, 2015
Western Australia puts around $2bn in state-owned assets on chopping block

Iron ore producers and investors aren't the only ones getting hurt by the continuing weakness in the iron ore price.

Mongolia greatly responsible for Rio’s Oyu Tolgoi troubles – PM

Cecilia Jamasmie | April 3, 2015
Mongolia greatly responsible for Rio’s Oyu Tolgoi troubles - PM

Prime Minister Chimed Saikhanbileg said Friday his country should take charge of how long a dispute a expansion of the copper and gold mine has taken.

Mining top executives the gloomiest of all: report

Cecilia Jamasmie | April 3, 2015
Mining top executives the gloomiest of all: report

Despite the overall pessimism, mining CEOs remain just as confident on their own company’s growth as they were in previous years.

Indian billionaire wants to buy Aussie gold mines

Cecilia Jamasmie | April 2, 2015
Indian billionaire wants to buy Aussie gold mines

As several miners are in the process of shedding non-core operations to survive the current squeeze on the industry.

Deutsche Bank slashes South32 valuation

Frik Els | April 1, 2015
BHP warns more cost cuts, management shake up before demerger

BHP Billiton spin-off worth just $7 billion when based on current spot prices for commodities.

Less than half of copper projects needed to meet demand

Frik Els | March 31, 2015
Less than half of copper projects needed to meet demand

New report identifies 231 existing copper projects with potential output of nearly 13m tonnes which will more than make up for long-term mine depletion.

Iron ore price enters free fall

Frik Els | March 31, 2015
Iron ore price enters free fall

3.6% plunge to just above $50 a tonne on Tuesday brings year to date losses to 28%.

Fresh iron ore price plunge

Frik Els | March 30, 2015
Fresh iron ore price plunge

Iron ore price falls more than 2% on Monday bringing 2015 losses to 25%. Next stop $45 a tonne says new report.

BHP wants strikes to be ‘last resource’ for workers

Cecilia Jamasmie | March 30, 2015
BHP wants strikes to be ‘last resource’ for workers

The mining giant has also asked for local laws to be flexible enough to keep pace with other countries.

Five companies in Australia's Cooper Basin worth watching: Canaccord Genuity's Johan Hedstrom

The Energy Report | March 27, 2015

Canaccord Genuity energy analyst Johan Hedstrom is tasked with scouring the Australian oil patch looking for good deals even as prices slip and slide.

Chinese miners keep digging for iron ore despite most losing money

Cecilia Jamasmie | March 27, 2015
Chinese miners keep digging for iron ore despite most losing money

The situation, industry officials said Friday, can’t continue for much longer.

Iron ore price output caps called 'hare brained'

Frik Els | March 26, 2015
Iron ore price output caps called 'hare brained'

Rio's Sam Walsh says any scheme to artificially prop up prices hovering at six-year lows is "physically not going to work."

$60 billion for mining private equity a myth

Frik Els | March 26, 2015
$60 billion for mining private equity a myth

Looking for an exit or a lifeline? Look further says $8 billion fund manager.

Glencore shutting down its West Wallsend coal mine in Australia

Cecilia Jamasmie | March 26, 2015
Glencore shutting down its West Wallsend coal mine in Australia

The firm said poor coal prices meant it would not make sense to extend the life of the mine.

Frik Els

Mining private equity: It's Davis or bust?

Frik Els | March 25, 2015
Mining private equity: It's Davis or bust?

Until Mick Davis pulls the trigger on X2's $5.6 billion, wishful thinking and unhealthy skepticism will pervade talk around private equity and mining.

Australia's regulator goes after Fortescue for demanding iron ore output cap

Cecilia Jamasmie | March 25, 2015
Australia's regulator goes after Fortescue for demanding iron ore output cap

The competition watchdog did not welcome chairman Andrew “Twiggy” Forrest call for rivals Rio, BHP and Vale to agree to cap production.

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