Decision comes as the Swiss-based miner and commodities trader rethinks how to deploy capital as its cuts debt.
Australia Mining News
OZ would begin construction of its Carrapateena copper mine in Australia, the country's largest undeveloped copper project, which it estimated would cost A$916 million ($724 million).
After pressure BHP is exiting oil and gas. Expect similar calls for shelving its $12 billion Jansen potash project in Saskatchewan to fall on deaf ears.
Chinese coal imports from key supplier Australia chalked up year-on-year gains for the second straight month in July, customs data showed, as local output of the commodity eased amid a crackdown on illegal mining and pollution.
Controversial director Grant King is stepping down, only six months after joining the company amid concerns among investors over oil investments.
Prices for the steelmaking material have increased almost 50% since its 2017 lows.
After posting a fourfold rise in profits, world's number one mining company now "actively pursuing options to exit" its US oil and gas business bought for $20B six years ago.
World number 4 iron ore miner Fortescue Metals Group said on Monday it will pay a record-high final dividend after more than doubling its annual profit, and plans to give more of its profits to shareholders in the future.
Only six of the top 20 producers are primary silver miners. The polymetallic ore deposits from which silver are recovered account for more than two-thirds of the world's silver resources.
Project will extend the life of its Spence copper mine in Chile by over 50 years, at a time when copper prices have reach their highest levels since late 2014.
There are several encouraging signs for the mining outlook in Australia.
Last year, the nation produced over 267,000 ounces of gold, significantly more than the 109,200 ounces it generated in 2006.
Lithium needed for rechargeable batteries used in high tech devices and electric cars might soon be extracted from calderas surrounding dormant supervolcanoes.
Trans-Tasman is now allowed to recover resources from the country’s Exclusive Economic Zone
First Quantum Minerals Ltd said on Wednesday it plans to suspend operations at its Ravensthorpe nickel mine in Western Australia at the beginning of next month due to persistently weak nickel prices, sending its shares lower.
Researchers worked out a way for a canola oil polymer to trap mercury metal, mercury vapour and organo-mercury compounds
The rise of electric vehicles is driving the world's biggest mining house, BHP , to switch gears and invest heavily in its long-suffering nickel business.
The Anglo–Swiss multinational secured the first mining leases for its $7 billion Wandoan coal project in Queensland’s Surat Basin
The junior miner wants Toronto’s Roscoe Postle Associates and Perth’s GR Engineering Services to undertake a Preliminary Economic Assessment of its Diablillos silver-gold project
Producers of processed lithium - an essential element for batteries used in electric cars - are agreeing long-term contracts with their customers to fund the investments needed to address a looming shortfall.
The steelmaking raw material hit its highest level since April driven by the demand of China’s steel industry
Chalkstone was born out of counter-insurgency tactics used by troops in Afghanistan, but its unique methodology is now being used by miners, which can map-out power structures and counter the potentially crippling risk of strikes and political opposition.
BHP Billiton is looking for ways to shore up power supply and bring down power costs at its Olympic Dam copper mine in Australia, as it plans to expand following a string of electrical outages, the mine's head said on Friday.
The buyer, Perth-based Red 5, is also acquiring Saracen Mineral Holdings' King of the Hills mine.
With the invention of fire suppression systems that use dry chemicals responsible for discharging monoammonium phosphate, the suppression of flames is very fast and effective in turn preventing any losses relating to repairs and replacements.