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BHP pressed to quit Australian mining lobby over climate views

By: Reuters     19th September 2017 BHP on Tuesday urged shareholders to vote down a resolution aimed at getting the mining giant to quit Australia's top mining lobby group, but said it will separately review its membership of industry bodies. BHP agreed to let shareholders vote on the resolution submitted by an ethical investing... 

‘Key milestone’ for Platreef project

     25th August 2017 The completion of the definitive feasibility study (DFS) for the first phase of production at platinum group metals (PGMs) miner Ivanhoe Mines’ Platreef project, on the northern limb of South Africa’s Bushveld Igneous Complex, is another key milestone in Ivanhoe’s planned transformation of the... 

A cosmic theory and two-inch lump of gold drive Novo's 500% surge

By: Bloomberg     21st August 2017 Quinton Todd Hennigh has spent 13 years scouring the Earth for clues to back a hunch: that the world’s biggest gold resource has lost siblings elsewhere on the planet. Now the president of Novo Resources Corp thinks he may have found a counterpart of South Africa’s Witwatersrand in the ancient... 

Funds to go for BHP's jugular if miner doesn't deliver goods

By: Bloomberg     21st August 2017 BHP Billiton’s truce with activist investors led by billionaire Paul Singer won’t last long if the world’s biggest mining company doesn’t pump up returns and deliver on strategic reform in the wake of its expected bumper profit report this week. The naming in June of BHP’s youngest director Ken... 

Davenport extends landholding in German potash basin

By: Mariaan Webb     16th August 2017 Melbourne-registered Davenport Resources has signed an agreement with a German government agency to buy three potash mining licences in the South Harz region for €1.2-million. Davenport, which is listed on the ASX, will acquire the licences from Bodenverwertungs-und-verwaltungs – the agency... 

There's a key to lithium's future inside a shipping container

By: Bloomberg     11th August 2017 The world’s biggest miners’ determination to muscle into the burgeoning  battery market stepped up a notch with  Rio Tinto Group reporting breakthroughs in cracking the technology needed to unlock its giant lithium project in Serbia that could meet 10% of global demand. Tests at a research... 

Mining companies built on wildcat culture now want to share risk

By: Bloomberg     11th August 2017 Swashbuckling gamblers abound in the mining business, where billions are spent searching for mother lodes in some of the most inhospitable places on the planet. But a prolonged slump in metals and big losses on earlier solo projects are turning top producers into risk-avoiding wallflowers. “The... 

Elon Musk inspires No.1 miner to target electric vehicle boom

By: Bloomberg     9th August 2017 Observations by Tesla’s Elon Musk on the key role nickel plays in the electric vehicle boom helped inspire the world’s top miner BHP Billiton to invest in new capacity to target rising demand. Amid efforts to improve performance at its nickel operations in Australia, Eduard Haegel, asset... 

Mining needs more activist investors, top gold producer says

By: Bloomberg     8th August 2017 Mining companies could benefit from more investor activism in the wake of Elliott Management’s campaign for improved performance at BHP Billiton, according to Australia’s second-largest gold producer. The sector’s record of returns warrants closer scrutiny from shareholders, Evolution Mining... 

Electric car boom drives rush to mining's $90bn heartland

By: Bloomberg     7th August 2017 A scramble by the lithium market’s biggest players to tie up supply of the high-tech metal is gathering pace in the 170-year-old heartland of Australia’s $90- billion mining industry. Rising Chinese demand for lithium-ion batteries needed for electric vehicles and energy storage is driving... 

Cashed-up Australian gold miners set to take deals global

By: Bloomberg     4th August 2017 Australia’s top gold producers are set to take their $5-billion acquisition spree global to secure growth as domestic opportunities fade and bullion’s gains swell their cash piles. Companies including Evolution Mining and Northern Star Resources, Australia’s No. 2 and No. 3 producers, may be... 

OceanaGold reports lower Q2 gold and copper output

By: Esmarie Swanepoel     28th July 2017 Melbourne-based miner OceanaGold has reported a decline in gold and copper production for the June quarter, owing to lower production from the Didipio mine, in the Philippines, and teething problems at the new Haile mine, in the US. Gold production during the second quarter declined to 124 396... 

Rio's quest to add more diamonds takes hunt to Canadian forest

By: Bloomberg     18th July 2017 Rio Tinto Group’s pursuit of new diamond output to tap rising demand in Asia is focusing on an unheralded exploration project in the Canadian forest. The world’s second-biggest miner on Tuesday added the Fort a la Corne joint venture, about 60 kilometers (37 miles) east of Prince Albert in... 

Divisive $13bn potash plan to test BHP's new chairman

By: Bloomberg     17th July 2017 BHP Billiton’s plan to enter the potash market with a contentious $13-billion project in Canada is adding to challenges facing the incoming chairman of the world biggest mining company. Ken MacKenzie, a 53-year-old board member who takes up the role in September, currently is on a global tour... 

Glencore said to draw Liberty House bid for Australian mine

By: Bloomberg     12th July 2017 Liberty House Group, fresh off a deal for Australian steel mill Arrium, is among bidders for a Glencore coal mine that could fetch as much as A$500-million, people with knowledge of the matter said. Liberty House’s GFG Alliance joint venture submitted an indicative offer for the Tahmoor mine by... 

Paper trail on metal loans ended in fakes as banks lose millions

By: Bloomberg     4th July 2017 For all the high-tech wizardry of modern financial markets, there’s one corner of the commodity world that still depends almost entirely on printed paper – making it an easy target for crooks. Buyers and sellers of base metals like copper, aluminum and nickel use documents known as warehouse... 

OceanaGold narrows 2017 guidance as Haile teething problems dent project progress

By: Henry Lazenby     27th June 2017 Melbourne, Australia-based gold producer OceanaGold on Monday said it has narrowed the top-end of its 2017 gold production guidance as teething problems at its new Haile gold mine, in South Carolina, stymies progress. The TSX- and ASX-listed midtier miner, with assets located in the Philippines,... 

Old school coal dealmaking nears end as Nippon flags new system

By: Bloomberg     13th June 2017 Japan’s lead negotiator on metallurgical coal contracts with global miners has sounded the death knell on a decades-old practice of setting prices after volatility whipped up by an Australian cyclone and China output cuts roiled markets. Nippon Steel & Sumitomo Metal Corp. will shift to buying... 

Cobalt upstarts eye Glencore's turf for electric car spoils

By: Bloomberg     9th June 2017 The race is on to supply more of the cobalt needed for batteries in the fast-growing market for electric vehicles -- and that means fresh competition for the big players Glencore Plc and the Democratic Republic of Congo. A pipeline of projects is looming in places including Australia, the US and... 

Robot ghost ships to extend miner's technology drive to seas

By: Bloomberg     7th June 2017 BHP Billiton, the world’s biggest mining company, is studying the introduction of giant, automated cargo ships to carry everything from iron-ore to coal as part of a strategic shift that may disrupt the $334-billion global shipping industry. “Safe and efficient autonomous vessels carrying BHP... 

Tribeca planning to target overhaul of BHP board directors

By: Bloomberg     6th June 2017 BHP Billiton’s board is being targeted for a sweeping overhaul by Tribeca Global Natural Resources Fund, opening a potential new front in the burgeoning activist campaign against the world’s biggest mining company. The Sydney-based hedge fund, which last month joined billionaire Paul Singer’s... 

Top miner sees 'huge demand' lift from China's new Silk Road

By: Bloomberg     1st June 2017 China’s multi-billion dollar Belt and Road Initiative can deliver a major boost for commodities and will add about 150-million tons to global steel demand, according to BHP Billiton, the world’s largest miner. The plan to develop infrastructure and rebuild ancient trading routes from China to... 

BHP CEO tells investors options for US shale under review

By: Bloomberg     29th May 2017 BHP Billiton is assuring shareholders that it’s exploring numerous options for its contentious US shale unit amid pressure from activist investor Elliott Management to carry out a wider review of petroleum operations. In a series of meetings in Australia last week, CEO Andrew Mackenzie stressed... 

Gold and bullion miners tumble as French vote cuts haven demand

By: Bloomberg     24th April 2017 Gold dropped to a two-week low and bullion mining stocks sank the most in more than a year as investors favoured riskier assets on expectation that Emmanuel Macron will become France’s next president. The metal slipped as much as 1.5% and South African gold miners plunged as much as 8.7% after... 

Singer's BHP gambit shines light on little-known oil giant

By: Bloomberg     11th April 2017 The usual suspects have planted their flags along the dusty byways of the Permian Basin, declaring where they’ve staked claims. There are names like Royal Dutch Shell, Anadarko Petroleum, Pioneer Natural Resources. And, on signs fronting a barbed-wire fence, BHP Billiton. For the world’s largest... 

Fortescue moves on growing markets outside steel giant China

By: Bloomberg     7th April 2017 Fortescue Metals Group is making iron-ore marketing forays to steel-producing nations outside China to tap forecast increases in demand from burgeoning infrastructure projects across the region. The world’s fourth-biggest exporter’s mines in northwestern Australia are well-positioned to take... 

Miners regain mojo to spark $18bn in exploration hunt

By: Bloomberg     24th March 2017 A rebound in exploration by global miners could see spending hit $18-billion by 2025 with China the front runner in the search for a new generation of giant discoveries. Exploration budgets are rising after they plunged to an 11-year low of about $10-billion last year as mining companies slashed... 

Top iron miners' cash juggernaut set to survive price crash

By: Bloomberg     13th March 2017 The world’s biggest iron ore miners will be able to withstand the expected plunge in prices because their race to cut production costs has dramatically lowered the industry’s margin pressure point, allowing them to keep fueling a cash juggernaut that’s revived the mining sector. More than 90% of... 

BHP says `bloody awful' trade pledges threaten Trump's pump

By: Bloomberg     28th February 2017 The head of the world’s biggest mining company intensified his warnings that US trade protectionism under President Donald Trump would threaten global growth and the fight against poverty. While applauding efforts by the administration to boost US growth and infrastructure spending, BHP Billiton... 

Fortescue, Apollo said to bid for Wesfarmers coal assets

By: Bloomberg     27th February 2017 Fortescue Metals Group and Apollo Global Management are among bidders for Wesfarmers’s Australian coal operations, according to people with knowledge of the matter. Apollo submitted an indicative offer for Wesfarmers’s stakes in the Curragh and Bengalla mines by a deadline around the end of last... 

Rio said to seek bank pitches on $1.5bn coal mine sale

By: Bloomberg     16th February 2017 Rio Tinto Group has asked banks to pitch for a role advising on the divestment of its last remaining coal operations in Australia, people with knowledge of the matter said. The London-based company has decided to pursue a sale of its Hail Creek and Kestrel mines after receiving unsolicited... 

Surging iron-ore won’t ‘fall off a cliff’, says Rio Tinto

By: Bloomberg     13th February 2017 Iron-ore will defy forecasts for a dramatic price collapse as China’s economy remains strong and the top buyer boosts demand for higher-quality imports, according to Rio Tinto Group, the second-largest exporter. “I wouldn’t necessarily say that it’s going to fall off a cliff,” Chief Financial... 

BHP vows legal action at top copper mine after group enters site

By: Bloomberg     13th February 2017 BHP Billiton, the owner of the world’s biggest copper mine known as Escondida, said it will take legal action after a group of more than 300 people entered the mine site during a strike and forced some contractors to abandon the compound. People wearing masks entered the mine site at 18:00... 

Choking China backs race to mine greener iron-ore for top mills

By: Bloomberg     9th February 2017 Chinese engineers who carved a railway through the Tibetan plateau and built the world’s longest sea-bridge across Hangzhou Bay have a new challenge: developing a $3.4-billion project on Australia’s remote Eyre Peninsula to meet increased demand for cleaner iron ore. China Railway Group Ltd., the... 

Barrick's sale of Super Pit stake to China buyer said to stall

By: Bloomberg     8th February 2017 Barrick Gold’s plan to sell its stake in the Kalgoorlie Super Pit mine to a Chinese bidder has stalled, as the buyer faces delays securing financing for the $1.3-billion deal, people with knowledge of the matter said. Minjar Gold, a unit of property developer Shandong Tyan Home, is also still... 

Rio said to get approaches on last $1.5bn of coal assets

By: Bloomberg     2nd February 2017 Rio Tinto Group, which agreed last month to sell $2.45-billion of Australian assets, has received approaches for its remaining coal operations in the country, people with knowledge of the matter said. The London-based company is considering options for its Hail Creek and Kestrel mines, including... 

Rio unit born in Death Valley is retooled for battery boom

By: Bloomberg     31st January 2017 During the financial crisis,  Rio Tinto Group needed cash and tried to unload its oldest mining business – one that began in 1872 hauling borates salts by mule from Death Valley to make US laundry soap. The company gave up on a sale because no one would pay the asking price. A decade later, the... 

Rio ends quest for China mine riches with biggest shareholder

By: Bloomberg     18th January 2017 Rio Tinto Group and its largest shareholder Aluminum Corporation of China have terminated their joint venture (JV) established to find copper deposits, as global mining companies tighten exploration budgets. Chinalco Rio Tinto Exploration, a JV between Rio and Aluminum Corpporation, also known... 

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