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Aussie Exports Test Gear

     19th February 2018 Australian Pump Industries announced a major contract for supply of 500 bar hydrostatic test gear for the Middle East.  Conceived, designed and built at Australian Pump Industry’s 2.5 acre Sydney manufacturing base and headquarters, the big machines were chosen against stiff competition from both... 

Cyclone Kelvin lashes West Australia, no damage reported to mines, gas projects

By: Reuters     19th February 2018 Tropical Cyclone Kelvin hit the resource-rich north coast of Western Australia on Sunday, lashing it with strong winds and causing floods that could cut the main highway for up to two weeks. The storm crossed the coast 165 km south-southwest of Broome early on Sunday morning with destructive... 

China wealth fund said to join fray for $2bn Rio coal portfolio

By: Bloomberg     8th February 2018 The Chinese sovereign wealth fund is considering joining the bidding for Rio Tinto Group’s last remaining coal mines, which may fetch more than $2-billion, people familiar with the matter said. China Investment Corp is discussing making a joint offer with Australian private equity firm EMR... 

Rio Tinto's blowout cash puts dividends and deals in focus

By: Bloomberg     7th February 2018 Rio Tinto Group’s best profit in three years and a record dividend is yet another sign that miners are reaping the benefits of a surge in commodity prices. Yet the sheer size of Rio’s cash flow is starting to raise another question: how else will the world’s second-biggest mining company invest... 

Iron-ore exports to China from Australia's Port Hedland fall to six-month low

By: Reuters     6th February 2018 Iron-ore shipments to China in January from Australia's Port Hedland terminal fell 11.3% from a month ago to 34.7-million tonnes, their lowest since July, port data released on Tuesday showed. That compares with 39.1-million tonnes in December. January imports were 0.6% higher than a year ago,... 

Elliott sees $22bn uplift in value with a simpler BHP

By: Bloomberg     5th February 2018 Activist investor Elliott Management Corp has called on BHP Billiton to immediately review its dual structure after commissioning research that argues reorganizing as a single company in Australia would add more than $22-billion in value to the miner’s shareholders. Creating a unified company,... 

Australian official confirms no federal financing for Adani mine

By: Reuters     5th February 2018 There will be no Australian federal financing of a loan facility for Indian conglomerate Adani Enterprises to build a rail line to its proposed Carmichael coal project, a government frontbencher confirmed on Sunday. Assistant minister for vocational education Karen Andrews told Sky News Speers... 

Pumps company highlights cost-saving benefits of its offering

By: Paige Müller     2nd February 2018 The current mining industry trend towards cost savings has led to a steady increase in demand in Australia and the South-East Asian region for products from pumps and pressure cleaners manufacturer Australian Pump Industries, or Aussie Pumps. “We expect similar interest from Africa, where we know... 

BHP is said to mull shale split to speed $10bn sale

By: Bloomberg     1st February 2018 BHP Billiton, seeking to accelerate the sale of its US shale unit, is prepared to offer the assets in as many as seven packages, including three in the prized Permian Basin, according to people with knowledge of the producer’s plans. The world’s biggest miner continues to favour a sale of the... 

Po Valley makes significant commercial gas discovery in Italy

By: Megan van Wyngaardt     19th January 2018 Shares in Australia’s Po Valley Energy (PVE) surged on Friday, reaching an intraday high of 10c each, up from the previous day’s closing price of 4c each, following the news of significant commercial discovery at its new Selva gas field in northern Italy. By 16:00 in Sydney, the stock traded at... 

Millennials snubbing diamonds has hedge fund seeing slump deepen

By: Bloomberg     19th January 2018 Diamonds are set to slump further, according to a hedge fund whose bet on marijuana made it the world’s best performer in 2016. Prices of the precious gem may slump as much as 10% this year as it loses appeal with younger consumers and faces challenges from synthetic alternatives, said... 

Metals power higher as sickly dollar spurs copper-to-gold rally

By: Bloomberg     15th January 2018 Copper jumped by the most in two months and zinc hit a fresh decade-high as base metals rallied on a potent combination of a softer dollar and continued robust outlook for demand. Gold and palladium also climbed. Copper surged as much as 2.1%, the most since November 13, to $7 259 a metric ton... 

Port Hedland clearing out ships as Cyclone Joyce intensifies

By: Reuters     11th January 2018 Australia's Port Hedland iron-ore terminal expects to clear all remaining vessels from its harbour by 10:30 GMT as a safety measure after a tropical cyclone intensified off the nation's western coast on Thursday, Pilbara Ports Authority said. The port's biggest user, global mining giant BHP,... 

Rio is said to drop chase for $5bn lithium miner stake

By: Bloomberg     11th January 2018 Rio Tinto Group has dropped out of the bidding for a stake in Soc. Quimica & Minera de Chile SA, one of the world’s top lithium producers, as it pursues other ways to capitalise on the electric-car boom, people familiar with the matter said. Rio decided not to proceed with an offer for Nutrien’s... 

The No.1 miner is building an EV hub it doesn't want to keep

By: Bloomberg     11th January 2018 Electric vehicles could hold the key to BHP Billiton finally finding a buyer for its unwanted nickel operations. The world’s top miner is accelerating plans to transform Nickel West in Western Australia into a linchpin of the global supply chain for EV batteries. The switch in focus promises to... 

Port Hedland may clear ships as storm builds off Australia - port authority

By: Reuters     10th January 2018 essels may be cleared from Australia's Port Hedland, the world's biggest iron ore export terminal, as early as Thursday as a safety precaution because of a tropical storm, port manager Pilbara Ports Authority said on Wednesday. The authority said Port Hedland may commence the clearing of vessels... 

Adani Australia port must refinance soon or face rating cut

By: Bloomberg     9th January 2018 An Australian deep water port linked to one of the world’s biggest planned coal mines should lock in refinancing within six months of a loan maturing in November to safeguard credit ratings on its debt, according to S&P Global Ratings. Adani Abbot Point Terminal in Australia’s Queensland state,... 

Glencore sells Australian coal mine to Gupta's GFG Alliance

By: Reuters     2nd January 2018 Glencore has agreed to sell one of two Australian coal mines it put up for sale last year to British industrialist Sanjeev Gupta's GFG Alliance for an undisclosed sum, the two companies said separately on Tuesday. The acquisition follows Gupta's purchase last year of the financially troubled... 

Outback's nascent gold rush hits speed bump on drill results

By: Henry Lazenby     23rd December 2017 The nascent gold rush in Western Australia’s remote outback hit a speed bump after a key player reported disappointing drilling results. Novo Resources, the Canadian explorer that kicked off the rush in July after finding nuggets in the northern Pilbara region, notched up its biggest drop in six... 

South Africa must find ways of resurrecting its most important industry

By: Martin Creamer     15th December 2017 South Africa is obsessed with trying to prolong its old mining assets without setting out determinedly to replace them with new ones. 

Biggest Australian business lender to stop new coal mine funding

By: Bloomberg     14th December 2017 National Australia Bank (NAB) pledged to stop funding new thermal coal mine developments and boost lending to renewable energy projects as part of global efforts to tackle climate change. “While we will continue to support our existing customers across the mining and energy sectors, including... 

Steel tycoon considers bid for Rio Tinto's Dunkirk aluminum smelter - sources

By: Reuters     14th December 2017 Liberty House, the industrial and commodities group buying a number of steel assets around the world, is considering a bid for Rio Tinto's aluminium smelter in northern France, the largest in Europe, three sources with direct knowledge of the matter told Reuters. The Dunkirk plant, which the... 

AWE shares rise on fresh offer from Chinese group

By: Mariaan Webb     8th December 2017 Shares in Australian oil and gas company AWE rose 10% on Friday after State-owned China Energy Reserve and Chemical Group made a fresh offer of $0.73 a share in cash. The offer is A$0.02 higher than the proposal two weeks ago, which the AWE board has brushed off as too low. 

Billionaire's mine financing hurdles fuel bondholder jitters

By: Bloomberg     7th December 2017 The Indian conglomerate Adani Enterprises is learning how one financing problem can lead to headaches for debt investors elsewhere as it tries to secure money for one of the world’s biggest coal mines. Three of China’s largest banks this week ruled out any involvement in financing the mine in... 

Iron-ore enters bull market as China's curbs supercharge steel

By: Bloomberg     4th December 2017 Iron-ore has rallied back into a bull market. Prices are surging as China’s crackdown on steel output this winter runs down inventories, helping mills’ profitability and stoking demand for high-grade ore even as investors discount signs of ample supply. Spot ore with 62% iron content jumped 3.7%... 

Rio picks Thompson for chairperson as investors target discipline

By: Bloomberg     4th December 2017 Rio Tinto named industry veteran Simon Thompson as chairman after shareholders rejected a plan to install a renowned dealmaker -- reinforcing an industry-wide investor drive for higher returns and caution over project spending. Thompson, 58, a Rio director since 2014 and previously an executive... 

Kirkland Lake lists on the ASX as gold rush lures prospectors Down Under

By: Reuters     30th November 2017 Canada-based Kirkland Lake Gold listed its shares on the Australia bourse on Thursday after investing millions of dollars and joining dozens of other prospectors in a modern-day gold rush. Kirkland Lake expects to produce a quarter-million ounces of gold in 2017 from a mine it bought a year ago... 

Australian industry prepares for possible summer power cuts

By: Reuters     30th November 2017 Some of Australia's biggest power users, including mining giant BHP, are taking steps to curb the impact of any repeat of crippling blackouts that hit last summer, worried about a grid that increasingly relies on wind power and old coal-fired plants. Their back-up strategies come despite... 

DFS lowers capital and operating costs of WA rare earths project

By: Mariaan Webb     28th November 2017 The definitive feasibility study (DFS) of the Yangibana rare earths project in Western Australia has significantly improved the capital cost requirements and operating cost estimates. The project, which has been assigned a ‘lead-agency project’ status by the state government, will require... 

Labor tipped to win Queensland majority as poll count continues

By: Bloomberg     26th November 2017 Premier Annastacia Palaszczuk’s Labor Party is favored to be returned to power in the Australian state of Queensland as counting continues following the weekend’s election that hangs in the balance. Analysts projected her party would win the highest number of seats, with the Australian... 

Great Barrier Reef pitched against coal jobs in Queensland vote

By: Bloomberg     21st November 2017 The fate of Adani Group’s A$16.5-billion Australian coal mine hinges on weekend elections in Queensland state, as voters weigh the promise of new jobs against a potential environmental threat to the Great Barrier Reef. The Labor government has vowed to reject A$900-million in federal funding for... 

Copper's big meh shows Chile's commodity crown is slipping

By: Bloomberg     21st November 2017 There was a time when a sneeze in Santiago would cause the global copper market to catch a cold. Not any more. The first round of Chilean presidential elections Sunday delivered a surprisingly weak result to frontrunner Sebastian Pinera, a conservative billionaire running on a fiscal... 

BHP facing uncertain future as shareholders push for change

By: Esmarie Swanepoel     17th November 2017 Ratings agencies and analysts have raised concerns about the future of mining major BHP in the wake of actions taken by so-called activist shareholders. The mining giant’s second-largest holder of its London-listed shares, fund manager Elliot Associates & Elliot International, has been picking at... 

BHP facing uncertain future as shareholders push for strategic change

By: Esmarie Swanepoel     17th November 2017 Rating agencies and analysts have raised concerns about the future of mining major BHP in the wake of actions taken by so-called activist shareholders. The mining giant’s second-largest holder of its London-listed shares, fund manager Elliot Associates and Elliot International, has been picking... 

Orion initiates hitech regional exploration in Northern Cape

By: Martin Creamer     16th November 2017 Sydney- and Johannesburg-listed company Orion Minerals will from November 26 initiate an airborne survey across a large area of South Africa’s Northern Cape as part of a regional exploration programme that will make use of the latest available technology in an area last explored in the 1980s.... 

Winmar withdraws from Spain JV, reduces salaries by 50%

By: Mariaan Webb     14th November 2017 Australia’s Winmar Resources has slashed its staff salaries and directors fees by half to minimise cash outflows until it has secured a new lead project. The announcement on Tuesday comes a day after the company said that it had withdrawn from the Lomero joint venture project with Kimberly... 

Australia notified China of Adani coal mine approvals in letter

By: Reuters     26th October 2017 Australian politicians told China of government approvals for a controversial A$16.5-billion coal mine project being built by Indian conglomerate Adani Enterprises, a panel of senators heard on Thursday. Thousands of people turned out across Australia this month to protest against the project in... 

New chairperson for Wits rock engineering department

By: Ilan Solomons     6th October 2017 As a leading school in the field of rock engineering, the University of the Witwatersrand (Wits) School of Mining Engineering has appointed Professor Rudrajit Mitra as centennial chairperson of the school’s rock engineering department. He joins Wits from the University of New South Wales (UNSW)... 

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