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BHP eyes two-year exit from shale; also selling nickel

By: Reuters     16th November 2017 BHP Billiton said on Thursday it hopes to fully divest its troubled US onshore shale business in around two years and is also seeking a buyer for its nickel business in Australia. The renewed push to unload both sets of assets, which the world's biggest mining company no longer deems strategic,... 

China's copper smelters insist no concentrate deficit after surprise Shanghai meeting

By: Reuters     15th November 2017 China's top copper smelters held an unscheduled meeting in Shanghai on Tuesday to reaffirm their position that there will be no shortage of copper concentrate supply in 2018 as the key contract renegotiation season hots up. The 10 companies on the China Smelters Purchase Team (CSPT) met to... 

Newcrest hunting for investments, including acquisitions

By: Esmarie Swanepoel     14th November 2017 Gold miner Newcrest Mining MD Sandeep Biswas said on Tuesday that the company was hunting for new investment opportunities, but stressed that it would remain “very disciplined” in its evaluation and execution of any new opportunities. In a copy of a speech delivered at the company’s annual... 

Australia's Capricorn copper mine set to start production in Nov

By: Reuters     1st November 2017 Capricorn Copper, a mine in the Australian state of Queensland, is set to start production this month, said the chief executive of its part owner, Australian private equity fund EMR Capital. Capricorn will be one of just a few copper mines to come onstream globally in recent years, which has... 

Global nickel market seen in third year of deficit in 2018 – INSG

By: Reuters     25th October 2017 Global demand for nickel is expected to outstrip supply for a third year running in 2018, as demand from the stainless steel industry expands and production of nickel-containing batteries grows, the International Nickel Study Group (INSG) said on Tuesday. Global demand for nickel is seen... 

Rio is said to hold talks with Indonesia on Grasberg mine exit

By: Bloomberg     20th October 2017 Rio Tinto Group has held talks with Indonesian groups, including State-owned PT Indonesia Asahan Aluminium, about a possible exit from its interest in the giant Grasberg copper and gold operation, according to people with knowledge of the matter. Executives at Rio held meetings in recent weeks,... 

South32 is said to study bid for $1.6bn Rio coal portfolio

By: Bloomberg     20th October 2017 South32 is studying a potential bid for Rio Tinto Group’s A$2-billion ($1.6-billion) coking coal portfolio, people familiar with the matter said, as it seeks to take advantage of surging prices for the steelmaking ingredient. The Perth-based company is working with an adviser as it weighs an... 

BHP told bending to activists poses risks for debt investors

By: Bloomberg     19th October 2017 BHP Billiton’s new chairman Ken MacKenzie is grappling with a simmering campaign by activist shareholders -- moving too far to appease them could risk unsettling debt investors who own the world’s biggest miner’s $24-billion of bonds. The campaign by funds including billionaire Paul Singer’s... 

BHP on track for 7% volume growth in FY18; guidance intact

By: Henry Lazenby     18th October 2017 The world’s largest mining house BHP Billiton said on Wednesday it remained on track for a 7% volume growth in the 2018 financial year, leaving its full-year 2018 guidance unaltered. The Melbourne, Australia-based miner reported its operating results for the three months ended September 30,... 

OceanaGold declares commercial production at Haile

By: Henry Lazenby     4th October 2017 OceanaGold declared commercial production at the Haile gold mine, in South Carolina, on October 1 – less than two years after taking ownership of this world-class asset, the Melbourne, Australia-based miner reported on Wednesday. The dual TSX- and ASX-listed company said that all aspects of the... 

‘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... 

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