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COAL

Universal Coal to raise A$24.5m from IchorCoal

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South Africa-focused coal miner Universal Coal on Tuesday announced a A$24.5-million investment from Frankfurt-listed IchorCoal. Under the terms of the proposed transaction, IchorCoal - headed by former ArcelorMittal South Africa CEO Nonkululeko...
2nd September 2014
 
 
EXPLORATION

Australian greenfield exploration figures ‘extremely concerning’ – Amec

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Australia’s investment in exploration expenditure continues to be at historically low levels, the Association of Mining and Exploration Companies (Amec) commented on Tuesday as the Australian Bureau of Statistics (ABS) published the latest...
2nd September 2014
 
 
LEGISLATIVE ENVIRONMENT

MRRT to be axed as Abbot government makes repeal deal

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The Australian resources industry has welcomed the news that the federal government had secured the necessary votes to abolish the minerals resource rent tax (MRRT). The Senate failed to abolish the MRRT earlier this year, with the Australian...
2nd September 2014
 
 
COPPER

PanAust mulls expanded Frieda River development

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Metals miner PanAust was considering an expanded development for the Frieda River copper/gold project, in Papua New Guinea, following further data analysis. The most recent feasibility study had considered a project with the potential to deliver...
2nd September 2014
 
 
COAL

Rio cuts jobs at Kestrel coal mine

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Mining major Rio Tinto on Tuesday confirmed that it would be cutting staff numbers at its Kestrel coal mine, in Queensland. While giving no clear number of the targeted cuts, reports suggested that about 100 staff would be made redundant at the...
2nd September 2014
 
 
COAL

FIRB clears Jogmec investment in Qld

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The Australian Foreign Investment Review Board (FIRB) has approved Japan Oil, Gas and Metals National Corporation (Jogmec’s) A$3-million investment into ASX-listed Allegiance Coal’s Kilmain coal project, in Queensland. Under the terms of the...
2nd September 2014
 
 
COPPER

Discovery raises cash to go underground

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Copper miner Discovery Metals Limited (DML) would raise up to A$25.7-million to develop its Zeta underground mine at the Boseto copper project, in Botswana. The miner announced its intention to undertake a two-for-one renounceable rights issue,...
2nd September 2014
 
 
GOLD

Azumah increases Wa reserve

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Gold developer Azumah Resources has reported a 45% increase in the ore reserve at its Wa mine, in Ghana, underpinning an initial mine life of seven years. The ASX-listed company on Tuesday reported that the project was estimated to host a Joint...
2nd September 2014
 
 
 
 
 
 
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