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Fortescue halves capex for 2015

By: Esmarie Swanepoel     Updated 16 minutes ago Iron-ore major Fortescue Metals has halved its capital expenditure expectations for the 2015 financial year from $1.3-billion to $650-million. The miner said on Friday that the reduction in planned spend for 2015 was consistent with Fortescue’s ongoing focus on delivering operational... 

QRC analysis shows how mining provides A$77bn boost to Qld economy

By: Esmarie Swanepoel     Updated 20 minutes ago The resources sector in Queensland added an estimated A$77.6-billion to the state’s economy in 2013/14, the Queensland Resources Council (QRC) reported on Friday. Revealing an analysis of spending in the resources sector, QRC CEO Michael Roche noted that despite challenges in the commodity... 

India reports increase in monazite reserves

By: Ajoy K Das     Updated 22 minutes ago The Indian government has reported an increase in thecountry’s monazite reserves. According to official data, India’s monazite reserves have gone up by 1.25-million tonnes to 11.93-million tonnes, following exploration and assessments carried out by Geological Survey of India (GSI) between 2009... 

Administrators tell Watpact to do limited work at Pluton’s Cockatoo Island

By: Esmarie Swanepoel     Updated 34 minutes ago The administrator of Pluton Resources has advised shareholder and project house Watpac to undertake a limited scope of mining work at the Cockatoo Island operations. Watpac suspended an existing mining services contract at the Cockatoo Island project at the start of November after Pluton’s... 

Anglo waits for more favourable conditions to start Moranbah South

By: Esmarie Swanepoel     Updated 35 minutes ago Diversified miner Anglo American confirmed on Friday that the timing for the Moranbah South joint venture coal project would be adjusted to “suit more favourable market conditions”. A spokesperson for the company told Mining Weekly Online in Australia that Anglo American had no specific... 

Rio Tinto defers Pilbara iron-ore mine, no impact on expansion forecast

By: Esmarie Swanepoel     Updated 49 minutes ago Diversified miner Rio Tinto on Friday deferred the development of the proposed billion-dollar Silvergrass iron-ore mine, in the Pilbara, until at least until the third quarter of 2015. A final investment decision on the Silvergrass mine, which would assist Rio in achieving its aim of increasing... 

Rio Tinto defers Pilbara iron-ore mine, no impact on expansion forecast
Photo by Bloomberg
Rio Tinto CEO Sam Walsh

Stockman's optimisations a coup for Independence

By: Esmarie Swanepoel     Updated 51 minutes ago An optimisation study of ASX-listed Independence Group’s Stockman base metals project, in Victoria, has delivered promising results. The study estimated that the project would require a pre-production capital investment of about A$202-million to deliver yearly production of 15 000 t of copper,... 

Sedgman wins Alcoa contract

By: Esmarie Swanepoel     Updated 52 minutes ago ASX-listed project house Sedgman has been awarded a A$59.8-million engineering, procurement and construction (EPC) contract from aluminium major Alcoa at its Kwinana refinery, in Western Australia. Sedgman’s scope of work would include the design, procurement, delivery, construction, integration... 

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