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Giant Australian coal mine near Reef one step closer

Indian conglomerate's $16 billion Carmichael coal mine in Queensland clears…

CHARTS: Death of the coking coal contract

Coking coal prices retreated on Friday, but only slightly, holding…

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Queensland coalminers on strike for the first time in a decade

More than 400 workers at Melbourne-based BHP Billiton coking coalmines began strikes on Tuesday for the first time in a decade, disrupting production from the world’s largest exporter and adding to the woes of an industry already hard hit by summer floods. Analysts believe the industrial action, added to the 15% cut in annual production caused by monsoon rains and a cyclone, will support rampant prices for steel-making coal which hit an all-time high in April of $330 per tonne.

WPG Resources receives go-ahead to mine Peculiar Knob

WPG Resources announced on Tuesday it has reached a major milestone for the development of its flagship Peculiar Knob (pictured) iron ore mine south east of Coober Pedy in South Australia, after receiving government approval. WPG also said that the company expects that the Mining and Rehabilitation Program for Peculiar Knob will be approved during July. Forecast production at 3.3 million tonnes annually destined for the Asian market is set to commence in late 2011, with sales in the June quarter 2012. Shares in the company jumped 3% amid a flat broader Australian market.

PNG Gold Corporation provides update: additional exploration and development at Imwauna contemplated and private placement financing announcement

PNG Gold Corporation outlined its exploration, development and financing plans for the Imwauna project, Normanby Island, Milne Bay Province, Papua New Guinea. The property contains numerous vein systems that outcrop at surface. The main vein system discovered to date - the Imwauna vein system - hosts high grade, low sulphidation, near-surface epithermal gold-silver mineralization.

HK limo company closer to $931m takeover of two Australian iron ore juniors

Perth-based iron ore junior FerrAus is set to accept Hong Kong limousine and investment company Wah Nam International's $170m takeover offer after the HK company gained a controlling stake in another miner in the region Brockman Resources. ASX-listed FerrAus said last month it will consider reversing its rejection of Wah Nam's bid because of the logic of developing FerrAus and Brockman neighbouring deposits together. Ferraus stock added over 5% on Tuesday, while Brockman had lost more than 12% at the close of the Australian bourse.

Immigration surges as Australia’s mining boom resonates in Europe

About 100 men in their 20s and 30s, filled a conference room at a Dublin hotel last week to hear a migration agent describe the personal fortunes waiting to be made a world away in the booming mining towns of the Australian outback. With unemployment running at close to 15 percent in Ireland, and local wages a fraction of those now on offer in Australia, it appeared to be an easy sell.

Australian government moving closer to mining profits tax legislation

Australia moved closer to introducing a contentious 30 percent mining tax being eyed by other countries, releasing draft laws and seeking reaction from resource companies to legislation expected to be passed later this year. The government unveiled the mining tax over a year ago but modified its plan before last August' s elections after global miners including BHP Billiton , Rio Tinto , and Xstrata launched a public campaign against it. Big miners and minority lawmakers are now broadly supportive and the legislation is expected to pass parliament and take effect on July 1, 2012.

Metso to supply crushing equipment to Fortescue Metals iron ore operations in Australia

Metso will supply crushing equipment to Fortescue Metals Group in Australia. The delivery will be completed by May 2012. The value of the order is approximately EUR34 million. The order comprises 13 units of MP1000 secondary cone crushers. Three units will be delivered to Fortescue’s Christmas Creek iron ore site, and another ten units will go to the Solomon iron ore mine site. Both sites are located in the Pilbara region in Western Australia. The crushers will be supplied to the sites in pre-assembled, modularised form. Metso will also be providing installation and commissioning assistance of all units.

Australian minister expects continuing growth in uranium exports despite Fukushima

Australia said the Fukushima nuclear disaster in Japan would not curb the world's appetite for uranium and predicted its exports will continue to rise as its develops more mines. Spending on exploration in Australia to find more uranium is expected to rise by more than third this year, Australia's minister for mines, Martin Ferguson, said in a speech to geologists on Thursday.