Anglo gaining ground in Codelco battle

With the tussle moving out of the courts and into the commercial arena and with Codelco CEO Diego Hernandez suddenly quitting his post in the midst of the ongoing battle, Anglo American CEO Cynthia Carroll appears to have gained significant...

Murchison fends off financial claims

ASX-listed Murchison Metals on Monday reported that it was investigating claims worth almost A$16-million resulting from iron-ore sales. The company said in a statement that it had received a claim from Premar Capital worth A$6.8-million for...

Leighton wins A$604m coal contract

Mining giant BHP Billiton and its coal joint venture partner Mitsubishi have awarded a A$604-million contract to ASX-listed Leighton to provide mining services at the Peak Downs mine, in Queensland. The contract extended the services provided at...

Murchison abandons acquisition plans

ASX-listed Murchison Metals has abandoned its acquisition plans, saying that none of the opportunities it was reviewing panned out. Earlier this year, the company said that it was investigating investment opportunities, looking to add shareholder...

UGL wins A$370m in contracts

Diversified services provider UGL has secured A$370-million in new contracts, of which the majority were targeted towards the resources sector. The ASX-listed project house said on Friday that more than A$270-million of the new contracts was in...

BHP, Mitsubishi JV to close Australian coal mine

Mining giant BHP Billiton and its coal joint venture partner, Mitsubishi, on Wednesday announced that production would cease at the money-losing Norwich Park mine, in Queensland. BHP Billiton Mitsubishi Alliance (BMA) asset president Stephen...

Mitsubishi buys 25% of Marathon PGM project

Billings, Montana-based palladium and platinum producer Stillwater Mining has agreed to sell a 25% stake in its Marathon project in Ontario to Mitsubishi for $94.6-million, including a commitment from the Japanese firm to meet the venture’s...

Jack Hills expansion "back on track"

Iron-ore miner Crosslands Resources on Wednesday said the expansion of its Jack Hills iron-ore project was “back on track” after Japan’s Mitsubishi took full ownership of the joint venture (JV) vehicle. During February this year, Mitsubishi...

Murchison may sell more assets, posts A$50.7m loss

Embattled Murchison Metals on Wednesday reported a net loss of A$50.7-million for the six months ended December, announcing that it was also reviewing its options to divest of more of its assets. The net loss for the first half of the 2012...

Major board reshuffle at Murchison

The board of Murchison Metals has been revamped after its transaction with Japan’s Mitsubishi, which saw the company take over Murchison’s 50% stake in the Crosslands Resources and Oakajee Port and Rail (OPR) ventures for A$325-million....

Government stoppages put platinum under Anglo spotlight

What can a chief executive do if his mine is shut down by the force of the law? Anglo American Platinum (Amplats) CEO Neville Nicolau has become a victim of circumstances. Amplats is under the spotlight even thought he did very well in the...

Platinum miners loath to take lead on output cuts

Profit prospects are poor for South Africa's platinum miners as they collectively hold back from making the deep production cuts necessary to reduce a market surplus and force higher prices. They have felt some respite this year from the...