Cliffs Q1 profit down 11% as mining, transport costs spike

Iron-ore and coal producer Cliffs Natural Resources on Wednesday reported an 11.1% drop in profit for the first quarter to $376-million, or $2.63 a share. This was the result of increased mining and transportation costs, which spiked by 85% to...

Environmental ‘guerrilla tactics’ threatening resources investments – Ferguson

Resources and Energy Minister Martin Ferguson has lashed out at environmental bodies using “guerrilla tactics” to frustrate economic development and job creation, specifically in the resources sector. Speaking in Brisbane on Wednesday,...

Diamond sales pick up, India demand grows

The first cycle of diamond auctions for 2012 was met with solid improvements in demand across all product categories and geographies, said Neil Ventura, the CEO of rough diamond trader Diamdel, a De Beers group company. Demand at Diamdel’s...

Galaxy opens Chinese plant

Lithium miner Galaxy on Thursday officially opened its Jiangsu lithium carbonate plant, in China. The A$100-million plant was the largest-capacity battery-grade lithium carbonate plant in the Asia Pacific region, and has a design capacity of some...

Talisman Energy inks $280m PNG deal with Mitsubishi

Canadian oil and gas explorer Talisman Energy has signed a $280-million deal with Japan’s Mitsubishi Corporation, giving it access to nine of Talisman’s natural gas licences in Papua New Guinea (PNG). The two companies have agreed to work...

AECI to expand into Africa, Asia and South America

Industrial chemicals and explosives manufacturer AECI is continuing to look at expansion opportunities for its explosives business, AEL Mining Services, into markets beyond South Africa, especially the rest of Africa, Asia Pacific and South...

Company Announcement: The Market for Smelting Works and Rolling Mills is picking up International Demand for German Tube System Technology

At an international level, the machinery and plant manufacturing sector was amongst those branches of industry affected most by the financial and economic crisis 2009. After overcoming the crisis, partial areas of the sector proved to be driving...

Cliffs Natural cuts 2011 outlook for iron ore volumes

Mining company Cliffs Natural Resources Inc forecast weak full-year sales volumes at its Eastern Canadian and Asia Pacific iron ore businesses, hurt by lower sales of pellets and delayed shipments. Cliffs forecast 2011 sales volume of 7.4-million...

Company Announcement: Daily Monitor 23rd January 2012

Oil & Gas News Range Resources Limited (BUY, 27p) (RRL LN, 11.25p, ► 0.0%) and Red Emperor Resources (TRADING BUY, 19p) (RMP LN, 18.25p, ► 0.0%) have announced that site construction has commenced in readiness for the spudding of the second...

Miners cash-strong in volatile global market

Mining companies had adapted to the turbulent global economic situation by reducing debt and building strong cash-positive balance sheets to weather the volatile market conditions of 2012, Ernst & Young (E&Y) transaction advisory services Africa...

Queensland boosts LNG agreements

The Queensland government on Wednesday reported that its ability to supply the state’s liquefied natural gas (LNG) products to South East Asia had been given a major boost with a landmark deal signed with a major Vietnamese gas company....

Mineral sands demand awaiting supply catch-up

The mineral sands industry has seen a surprising change through the rapidly rising prices and increasing demand for titanium dioxide feedstocks, zircon and pigments throughout the past two years. The increasing global demand and the market...