Australia

Glencore stock getting hammered as China slowdown, commodities rout hit profit

Cecilia Jamasmie | August 19, 2015
Glencore stock getting hammered as China slowdown hits profit

The world's leading commodity trader stock slumped to a record low Wednesday after it revealed it swung to a steep first-half loss of $676 million.

Glencore hit by $790 million writedown, cuts spending

Cecilia Jamasmie | August 13, 2015
Glencore hit by $790 million writedown, cuts spending

The company's action on spending follows sharp falls across commodity prices this year.

Global gold demand hits six-year-low as China, India buy less

Cecilia Jamasmie | August 13, 2015
Global gold demand hits six-year-low as China, India buy less

Total bullion demand dropped 12% in the second quarter of the year, due in part to directionless prices, the WGC says.

Iron ore price rally safe from yuan devaluation

Frik Els | August 12, 2015
Yuan devaluation won't impact iron ore price

High cost domestic Chinese iron ore mines will stay shut, boosting already surging imports.

Most Chinese rare earth miners running at a loss — report

Cecilia Jamasmie | August 12, 2015
Most Chinese rare earth miners running at a loss — report

About 90% of China’s rare earth producers are currently operating at a loss as prices for the coveted elements continue to drop due to a global glut and illegal mining.

Japan's comeback to nuclear power good news for Australia

Minerals Council of Australia | August 12, 2015

Japan has been a long-standing market for Australian uranium exports, providing around one-third of their total uranium supply, valued at around $250 million.

Commodities, mining stocks sinking as China devalues its currency again

Cecilia Jamasmie | August 12, 2015
Commodities, mining stocks sinking as China devalues its currency again

But gold is, so far, profiting from the situation, heading for its longest winning streak in three months.

China's devaluation of Yuan hits miners, commodities

Cecilia Jamasmie | August 11, 2015
China's devaluation of Yuan hits miners, commodities

The decision of the People's Bank of China (PBOC) to devalue the yuan by 1.9% sent most mining stocks and commodities down the slippery slope.

Here is how Rio Tinto intends to cut costs by $1 billion

Cecilia Jamasmie | August 10, 2015
Here is how Rio Tinto intends to cut costs by $1 billion

The mining giant is watching every single expense, including those related to safety equipment.

BHP Billiton axing other 380 jobs at its Olympic Dam

Cecilia Jamasmie | August 9, 2015
BHP Billiton axing 380 jobs at its Olympic Dam

The cuts represent 14% of what was once a 4,300 workforce.

British investment fund to buy Anglo’s mines in Chile

Cecilia Jamasmie | August 9, 2015
British investment fund to buy Anglo’s mines in Chile

According to local newspaper El Mercurio, the unnamed fund is buying Anglo's Mantoverde and Mantos Blancos copper mines.

South Africa lets Glencore resume operations at Optimum coal mine

Cecilia Jamasmie | August 7, 2015
South Africa lets Glencore resume operations at Optimum coal mine

Mining Minister Ngoako Ramatlhodi has decided to conditionally withdrew a licence suspension ordered earlier this week.

Revocation of Australia’s largest coal mine licence ‘a sabotage’ — Abbot

Cecilia Jamasmie | August 7, 2015
Revocation of Australia’s largest coal mine licence ‘a sabotage’ — Abbot

His comments follow this week's decision by the federal court of Australia to overturn government approval for the construction of one of the biggest coal mines in the world.

Australia well placed to cash in on uranium boom — experts

Sydney Morning Herald | August 7, 2015

If uranium demand were to ever boom like iron ore, Australia would make a packet. But renewables and community attitudes threaten that.

CHARTS: Iron ore price only getting more volatile

Frik Els | August 6, 2015
CHARTS: Iron ore price only getting more volatile

Compared to the wild swings iron ore dealers have to deal with, gold, coal and copper traders are coasting.

GRAPH: Why you can't compete with Rio iron ore

Frik Els | August 6, 2015
GRAPH: Why you can't compete with Rio iron ore

World number two miner copes with 46% drop in price in first half of 2015 but keeps iron ore margins above 60% – where it's been for 15 years.

World's best opal to be displayed at SA museum

Michael Allan McCrae | August 6, 2015
virgin rainbow opal

Valued at more than $1 million.

Iron ore price rally has legs

Frik Els | August 5, 2015
Iron ore price rally has legs

Wednesday jump brings gains of 28% in less than a month.

Byproduct of metal price meltdown is a higher silver price

Frik Els | August 5, 2015
Byproduct of metal price meltdown is a higher silver price

70% of silver is mined as a byproduct – gold, base metal mine closures and declining capex will push silver market into deficit this year says new report.

Report: Glencore, X2 in fight over thermal coal

Frik Els | August 5, 2015
Report: Glencore, X2 in fight over thermal coal

Ultimate contrarian bidding war.

Copper price: China fears overdone

Frik Els | August 4, 2015
Copper price: China fears overdone

Chinese manufacturing shocker dropped copper to a six-year low, but new report says weak business sentiment will have limited impact on the real economy.

Chinese iron ore futures trading hits record high

Andrew Topf | August 3, 2015
iron ore rio tinto reduced consumption china

Recent volatility in the price of iron ore has interested traders of the crucial industrial metal.

Cecilia Jamasmie

Survival of the fittest — what to expect for rare earth miners outside China

Cecilia Jamasmie | July 31, 2015
Survival of the fittest — what to expect for rare earth miners outside China

While analyst predict a rebound in hard-hit rare earth prices later this year, it is still unclear whether companies outside China, the world’s largest producer, will be able to challenge its dominance.

Nautilus Minerals: Vessel dewatering plant detailed design contract awarded

Nautilus Minerals Inc. | July 29, 2015
Nautilus

Nautilus Minerals Inc. announces that contract for the detailed design of the Solwara 1 dewatering plant to be used on the Company’s Production Support Vessel has been awarded to the Brisbane office of the DRA Group.

About 30,000 fresh job cuts, more mine closures expected in Australia

Cecilia Jamasmie | July 29, 2015
About 30,000 fresh job cuts, more mine closures expected in Australia

A fresh survey of mining industry leaders is predicting more mine closures and job cuts as the prices of commodities like iron ore and coal decline.

Gold mining restarts near remote town in Western Australia's north

ABC News | July 29, 2015

The Kimberley town, which sparked the late 1800s Western Australian gold rush, is seeing a rebirth of the industry.

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