Mining companies, including Newmont Mining Corp, Teck Resources and Barrick Gold Corp, reported increased costs this week in their quarterly earnings.
Australia Mining News
Lacklustre performances by small mining companies on the London Stock Exchange are driving rivals in need of cash to find alternative ways to raise capital.
The current debate surrounding coal is generally one of how long it will continue to play a role in the world's energy mix before it is replaced by cleaner alternatives, but the coming years may see a deficit in seaborne markets for the polluting fuel.
IMARC set to exceed industry expectations having confirmed more than 3,500 people to attend – a 40 per cent increase on last year’s attendance.
Alliance Mining Commodities will invest $670 million over the first five years of production at its mine in northwestern Guinea, Saadou Nimaga.
Fortescue Metals Group reported slight rise in fiscal first-quarter iron ore shipments, also warned its ore was selling at a greater discount than expected.
Australian politicians told China of government approvals for controversial A$16.5-billion ($13-billion) coal mine project being built by Adani Enterprises.
Gold producer says its total gold output from mines fell to 522,917 oz in the quarter ended Sept. 30 from 615,498 oz in the same period a year earlier.
If successful, the mines could fetch around $2bn and complete Rio's plan to finalise its exit from the sector and focus on iron ore, copper and aluminum.
Ken MacKenzie defended CEO after attacks from activist investor Elliott Advisors prompted speculation that the end of Andrew Mackenzie's tenure was imminent.
"[W]e expect growth in China to ease modestly over the short-term, as monetary policy tightens and housing and automotive markets soften," Mackenzie said.
Pressure has mounted on BHP and its chief executive since Elliott went public in April with its criticisms of the miner's strategy.
Iron ore production rose 3.3% compared with the same period last year to hit a fresh quarterly record of 95.1 million tonnes.
Fire shrinks Mt Whaleback iron ore production, but output at world's largest copper mine Escondida in Chile jumps 23%.
Delayed ramp-up at Escondida, mine sequencing at Kennecott.
The largest collection of exquisite fancy coloured diamonds and diamond jewellery ever publicly exhibited in the Southern Hemisphere is being showcased across Australia by iconic Australian jeweller Linneys.
Investors in Queensland Mining (ASX:QMN) got an unexpected surprise Monday morning after the company announced Friday it was selling its White Range copper, gold and cobalt project.
The metal has doubled in prices since late 2015 and investor demands are rising for this "hot commodity."
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Upfront capital costs for the development of the Jan Karski mine totals $630 million with Chinese lenders expected to financing 85 percent of it.
The project will be the Japanese company’s first desalination plant and it is estimated to require an investment of around $623 million (70 billion Yen).
Sale is part of Rio’s planned exit from Australian coal to focus on iron ore, copper and aluminum.
Pilot Mountain tungsten project said to be "quite a monster," with five-to-ten years life as a low-cost open pit and 15-year underground life after that.
Mining companies must reassess traditional remuneration practices and adjust to a new business climate, early insights say.
Representatives from Elliott have in the last month met with major BHP investors based in London, South Africa and Australia to lay out the activist fund's arguments for an overhaul of the miner.