The heavy rains that have kept much of N. Australia waterlogged for months have also resulted in the suspension of one of the world's largest uranium mines - Ranger.
Australia Mining News
Australian copper and gold miner Oz Minerals said on Thursday it is on track to achieve its forecast gold output of more than 185,000 ounces despite a 23 percent drop in first-quarter output. "While total gold production was lower this quarter, higher grades expected in the second and third quarters are expected to see production achieve forecast levels for the year of 185,000+ oz of gold," the company said in its quarterly production report.
Australian coal miner Whitehaven Coal said a formal process to find a bidder for the company was nearing a conclusion and interested parties have completed due diligence. Whitehaven said on Wednesday it was in was in talks with the parties to decide which proposal, if any, would be recommended by its board
Mining contractor Barminco continues to drive growth in its domestic market with the award of a three year, A$60 million underground mining services contract for Western Areas’ Spotted Quoll nickel mine located 5 km from the Flying Fox underground complex and 80 km east of Hyden in Western Australia. Read more
BHP Billiton played down speculation it was in talks to acquire a cornerstone stake that could be worth $10.3 billion (A$9.8 billion) in Australia's largest oil and gas firm, Woodside Petroleum , from Royal Dutch Shell (RDSa.L: Quote). BHP Billiton, widely rumoured to be considering a takeover of Woodside, said in a short statement that there was no basis for the market talk, which has centred on BHP acquiring Shell's 24.3 percent stake as a step toward a full takeover.
Top global miner BHP Billiton has bought back A$6 billion ($6.3 billion) of its shares, or 4.4 percent of its Australian-listed shares, as part of its $10 billion capital management program. It said on Monday the final price was set at A$40.85 a share, a 14 percent discount to the market price of A$47.4985, based on the average trading price over the five days up to the close of the tender on April 8.
Ivernia Inc said it expects to place its flagship lead mine in western Australia under full care and maintenance for an indefinite period and lay off about 83 percent of related workforce amid environmental concerns surrounding the mine, sending its shares down 23 percent to a nine-year low.
Orocobre Limited (TSX:ORL)(ASX:ORE) is pleased to report that it has produced battery grade lithium carbonate from Salar de Olaroz brines. Orocobre's analysis shows that the lithium carbonate is of greater than 99.9% purity* and of higher purity than the specifications for battery grade material sold by existing producers. This material was produced by refining a lower purity product previously produced at the company's facilities at Olaroz with recirculated brines. As such, the Company considers the material to be representative of what could be expected in commercial production.
The mid-tier gold miner Northern Star Resources (ASX: NST) confirmed today that it had achieved A$11 million (US$11.53 million) in revenue in March from the Paulsens gold mine in the Pilbara region while incurring operating costs of about A$5 million (US$5.24 million). The operation produced 8,583 ounces of gold last month and sold 7,897 oz.
Metso will supply a single tandem rotary railcar dumper to Hamersley Iron Pty Ltd for its Cape Lambert, Port B iron ore operation in North Western Australia. Read more
Leading Australian headquartered mining contractor, Ausdrill Ltd, has announced a successful major capital raising to raise gross proceeds of A$129.5 million, to be used as growth capital to fund purchases of plant and equipment for projects commencing in the next 12 months or projects which have been tendered for. This mainly includes projects in Africa and Australia.
CDE has signed a new dealer for Western Australia, the Northern Territory and South Australia. The washing equipment specialists from Northern Ireland have added 888 Crushing & Screening to their global distributor network and the agreement follows the recent installation of the first M2500 mobile wash plant in Australia.
Hong Kong-based Regent Pacific Group Ltd said it would consider reinstating debt funding for its original bid for Australian iron ore producer BC Iron Ltd. This move follows a decision by Australia's Takeovers Panel declaring a case of "unacceptable circumstances" for Regent's "purported termination" of its takeover scheme with BC Iron.
Outotec has acquired the Vertical Pressure Filter (VPF) technology and its intellectual property rights from Australian Process Technology Pty Ltd, a filters supplier for the alumina refining industry. Read more
The vast majority of Australia's coal mines will not face materially higher costs under a polluter-pays scheme designed to reduce carbon emissions, according to Treasury Department documents released by the government on Friday.
BHP Billiton today announced approval for the Escondida Ore Access project (EOA), the first of a number of development options that will underline Escondida’s status as the world’s premier copper operation. The EOA project will relocate the crushing and conveying facilities currently located inside Escondida’s main pit to improve access to higher grade ore and thereby support higher production from 2013. The project is expected to cost US$554 million (US$319 million BHP Billiton share) and will be completed by mid calendar year 2012.
Sherwin Iron Limited (ASX: SHD) says that fresh metallurgical testwork on the oolitic hematite from its Roper River Iron Ore Project in the Northern Territory using a simpler processing route has delivered an end product […]
Top global miner BHP Billiton has moved into the feasibility study stage of preparing a long-awaited expansion of the Olympic Dam copper and uranium mine in South Australia.
Leighton Holdings subsidiaries Thiess and Leighton Contractors have announced three important new contracts. Thiess has secured a $166 million contract to provide bulk earth works and selected infrastructure for BHP Billiton Iron Ore’s Jimblebar mine near Newman in Western Australia.
Global miner Rio Tinto lowered the acceptance condition on its A$3.9 billion ($4 billion) offer for Riversdale Mining on Tuesday after entering into talks with Brazil's CSN , a major Riversdale shareholder.
As quoted in today's Sydney Morning Herald, U.S. economist Dale Hale says the surge of iron ore from Africa could break the dominance of Australia and Brazil in the setting of iron ore prices, and lead to eventual price declines. The story says at least 20 mines could open in a region spanning Liberia, Guinea, Sierra Leone and Cameroon by 2015, with aggregate output of 600 million tonnes per year.
Moly Mines Limited (TSX:MOL)(ASX:MOL) is pleased to confirm the 3rd shipment of iron ore fines has today sailed from Port Hedland, destination China. The vessel is carrying 70,202 wet metric tonnes of iron ore grading […]
Franco-Nevada forecasts revenue this year to be between US$325 million to $350 million this year, using consensus commodity price assumptions of US$1,400 gold, $1,750 platinum, $575 palladium and $80 oil. However, the company warned its expenses will be significantly higher in the first quarter of the year, as transaction costs associated with the acquisition of Gold Wheaton will be expensed under International Financial Reporting Standards (IFRS).
Diversified mining behemoth BHP Billiton is expected to pour billions of dollars into Australia in an effort to expand its iron ore and coal facilities, says a report from AFP: Mining giant BHP Billiton said Friday it would pour billions of dollars into expanding its coal and iron ore operations in Australia, key commodities that are driving the boom in Asian economies.
According to Business Spectator, Australia's biggest mining companies have won a major concession over the planned new 30 per cent Mineral Resource Rent Tax (MRRT), with the government agreeing to refund any future increases in state-based royalty charges. Treasurer Wayne Swan said the government agreed with the key recommendation of a mining tax transitional policy group, headed by Resources Minister Martin Ferguson and former BHP Billiton chairman Don Argus.