The government intends to set its mining royalties at 9% for both open-pit and underground mines.
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.
This wouldn’t be the first time Hockey hinders a major corporate deal in Australia.
Government claims it was not notified according to the law.
But the fund warned that only further tightening of fiscal and monetary polices would contain the country's large deficits.
A chart by the Wall Street Journal shows that capital expenditures by the big oil companies are exceeding cash flow at a higher rate than the major miners.
The firm said poor coal prices meant it would not make sense to extend the life of the mine.
Debt for equity swap deal for 49% of top ten Russian oil producer could be worth as much as $3 billion.
The cuts include scaling back some operations and deferring projects. Further job cuts to follow.
The new rules only apply to future payments and not amounts already owed.
Outcome will say a lot about the long-term prospects for the industry.
The firm expects production at Ferrobamba, one of the four deposits that make up Las Bambas project, to start early next year.
The miner, one of the biggest exporters of South African coal, may re-open those operations if economic conditions improve.
Newly elected President Edgar Lungu wants to keep mining royalties at 20%, as opposed to the 6% companies were paying a month ago.
The global miner and commodities has estimated spending on oil projects for this year and next of $2 billion and $1 billion on coal expansions.
The situation may soon change, as authorities have began talks with the country’s top miners, signalling the possibility of a compromise over the country’s new tax regime.
This is Aaron Regent’s first acquisition since founding Toronto-based Magris Resources.
Copper tumbled Wednesday to fresh six-year lows, dipping below $5,500 a tonne. Stocks in miners of the industrial metal are getting hammered.
The project is sitting on one of the largest undeveloped coal deposits in North America,
The miner believes that while the market is oversupplied now it will tighten from 2018.
The three-week suspension aimed at battling a global oversupply of the commodity.
Move will leave up to 12,000 jobless and it is likely to sour the already fractious relationship between the government and mining companies.
The move aims to expedite the processing and sanction of pollution cases.
The deals that were and those that failed. Here is MINING.com’s shortlist.
This was the second time that Antamina’s workers down tools in about a month over demands for a bonus and other benefits.
Forget iron ore for now, the world’s largest mining company is making a bold bet on copper.
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