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Rio Tinto unveils large vivid pink Argyle diamond

By: Creamer Media Reporter      12th July 2018 Rio Tinto has unveiled the largest vivid pink diamond in the history of its Argyle pink diamonds tender, during a preview in Sydney. The 3.14 ct polished emerald cut diamond, known as The Argyle Alpha, is part of the line-up of 63 rare pink, red and violet diamonds in the 2018 Argyle pink... 

Platina finds site for Owendale plant

By: Esmarie Swanepoel     12th July 2018 ASX-listed Platina Resources has signed a lease for the site of its proposed Owendale scandium processing facility, in New South Wales. The site, a former abattoir, is some 70 km from the mine site and has road system capable of handling the trucks that will be used to transport ore from the... 

Stocks decline as Trump reloads the tariff bazooka

By: Bloomberg     11th July 2018 Stocks fell, the dollar gained and commodities slid with emerging-market assets after the US fired a new shot in its brewing trade war with China. S&P 500 futures slumped with the Stoxx Europe 600 Index and MSCI Asia Pacific Index following the Trump administration’s release of the biggest list... 

Denham Capital closes Mining Fund at $558m

By: Marleny Arnoldi     9th July 2018 Resource and energy-focused global private equity firm Denham Capital has closed its first standalone mining fund, the Denham Mining Fund, at $558-million to expand its portfolio in Australia, Canada, South America and Africa.  

Big Pump Goes Stainless

By: Creamer Media Reporter      6th July 2018 Corrosive liquids on mining and construction sites are a fact of life!  Tsurumi’s new 316 cast stainless steel high head pumps are designed for those applications.  Metalliferous mines are susceptible to pump breakdowns simply because the pump’s material of construction is not compatible with the... 

Orion Resource Partners raising $500m in royalty, streaming fund - sources

By: Reuters     26th June 2018 Orion Resource Partners is raising up to $500-million in a fund financing potash, tungsten and iron-ore mines, sources close to the matter said, meeting miners' need for funding and investors' appetite for long-term assets. Miners are turning to alternative sources of finance as the industry has... 

Gold may hit $1 400 in '19 on 'powerful fuel' of weak dollar

By: Bloomberg     4th June 2018 Gold may have posted two straight months of declines, but is set to shrug off the blues and rise in 2019 as the dollar weakens. The precious metal will start to rebound in the final quarter of this year to average $1 375 an ounce in the last three months of next year and could touch a high of $1... 

Prairie stock falls as Debiensko concession amendment is denied

By: Mariaan Webb     29th May 2018 The Polish Ministry of Environment (MoE) has denied Australian miner Prairie Mining’s application to extend the production starting date of its Debiensko hard coking coal mine, a decision which Prairie said on Tuesday it would appeal. In terms of the mining concession that the MoE issued in... 

Cobalt streaming may presage bigger deals as Vale weighs options

By: Bloomberg     23rd May 2018 A streaming deal for cobalt and nickel from a mine in Papua New Guinea may foreshadow other similar arrangements as producers look to capitalise on the battery-commodity boom to raise cash for investments. On Tuesday, Cobalt 27 Capital – a Toronto-listed vehicle designed to invest in the metal –... 

Australia East Coast gas prices seen rising as cheap gas supply dwindles

By: Esmarie Swanepoel     15th May 2018 Australia’s East Coast gas prices are forecast to rise up to 30% to between A$10/GJ and A$13/GJ by the mid-2020s, as cheap gas supply continues to decline, advisory firm Wood Mackenzie has reported. Speaking at the Australian Petroleum Production and Exploration Association (Appea) conference,... 

BP said to tap Morgan Stanley as it weighs buying BHP assets

By: Bloomberg     4th May 2018 BP is weighing an acquisition of some of BHP Billiton’s energy assets as the British oil major seeks more US shale, according to people familiar with the matter. The London-based company is working with Morgan Stanley to advise on the plans, said the people, asking not to be identified as the... 

Kimberley Diamonds' Botswana mine to be auctioned online

By: Bloomberg     30th April 2018 A diamond mine in Botswana will be offered for sale at an online auction after its liquidators failed to secure viable offers. Online bids for the Lerala Diamond Mine open at 17:00 on May 24 and run through 14:00 on May 30, according to a statement published in the weekly Monitor newspaper by the... 

Jupiter mines to list on ASX; Tshipi increases FY18 net profit

By: Marleny Arnoldi     17th April 2018 Jupiter Mines, which owns a 49.9% interest in Tshipi é Ntle Manganese Mining, will list on the ASX on Wednesday, with the company’s board and management to ring the ASX bell in Sydney to formally start trading.  

Fortescue says miners have shut gates on new iron-ore supply

By: Bloomberg     10th April 2018 Global iron-ore miners have turned off the tap on adding new production capacity to feed China’s steel mills as the world’s largest customer is already awash with supplies, according to Fortescue Metals Group. “The reality is that most of the producers, ourselves included, are not actually... 

Rio Tinto stands to win from Rusal sanctions, US consumers to lose

By: Reuters     9th April 2018 Rio Tinto will be among the biggest winners from the US sanctions imposed on Russian aluminium giant United Company Rusal as the penalties further shake up the global metals trade and boost costs for US consumers, industry sources said on Monday. The United States on Friday imposed the sanctions... 

Santos shares jump on A$13.5bn bid from Harbour Energy

By: Esmarie Swanepoel     3rd April 2018 Energy investor Harbour Energy has made a A$13.5-billion offer for oil and gas major Santos, offering shareholders $4.98 a share, or A$6.50 equivalent. Harbour has previously made three unsolicited offers for Santos, the last of which was priced at A$6.37 a share. 

Hydro to start shutdown of Brazil alumina lines by mid-April – sources

By: Reuters     28th March 2018 The Alunorte refinery in northern Brazil, owned by Norway's Norsk Hydro, will start shutting down half of its alumina capacity in the next two weeks to preserve equipment, two people familiar with the matter said on Tuesday. The world's largest alumina refinery, situated in Brazil's Amazon... 

US tariff exemptions to boost Australian exports - industry

By: Reuters     12th March 2018 Australian steel and aluminium manufacturers said on Monday exports to the United States will grow after securing exemptions from tariffs signed into law by US President Donald Trump. Trump on Friday said Australia would become the third country to be free from a 25% tariff on steel imports and... 

Shell, Blackstone eye $10bn bid for BHP US shale assets – Sky News

By: Reuters     9th March 2018 Royal Dutch Shell and US private equity firm Blackstone Group are working on a joint $10-billion bid for BHP Billiton's US shale assets, Sky News said on Thursday. Shell and Blackstone's offer will only be one of several credible proposals that BHP will receive for its US shale operations, Sky... 

Australia hopeful of US tariff exemptions

By: Reuters     9th March 2018 Australian Prime Minister Malcolm Turnbull said on Friday he is hopeful of securing an exemption from U.S. tariffs on steel and aluminium after sustained lobby effort by his government. US President Donald Trump on Thursday imposed a 25% tariff on steel imports and 10% for aluminium on Thursday. 

Intense effort needed to foster junior culture that revives and transforms mining

By: Martin Creamer     9th March 2018 Government should heed the six-point plan to revive and transform mining; government and labour should see to the structural change that is needed to keep labour-intensive mining on the go; and the 'harvesting ' of mine shafts shows how difficult it is to mine profitably in deep underground... 

UBS warns of 'deep trade war' as commodity giant sees no winners

By: Bloomberg     7th March 2018 Raw materials are at great risk as Donald Trump’s White House prepares to pull the trigger on tariffs. UBS Group warned metals to energy will be hurt should US levies spark a global trade war, while commodity powerhouse Australia forecast only a damaging race to the bottom. “Obviously, going... 

Australia's Lowe warns Trump tariffs could shock global economy

By: Bloomberg     7th March 2018 Australian central bank Governor Philip Lowe slammed President Donald Trump’s tariffs proposal, warning escalation and retaliation could develop into a “very big shock for the global economy.” In unusually strong language for the Reserve Bank of Australia chief, Lowe described Trump’s proposed... 

Trump tariffs are black day for world, business, BHP CEO says

By: Bloomberg     6th March 2018 President Donald Trump’s plans to slap tariffs on steel and aluminium imports is a black day for the world and business, according to the biggest mining company. BHP Billiton and competitors could be hit should other economies follow the move by the US toward a more protectionist and anti... 

India's outback coal bets sour as global prices recover

By: Bloomberg     1st March 2018 Australian mining legend Lang Hancock’s dream four decades ago of exporting coal from the country’s remote Galilee Basin is becoming a nightmare for two Indian conglomerates. Adani Group bought into the Queensland basin in 2010, followed a year later by GVK Group, with plans to ship thermal coal... 

Resounding welcome for Gwede, who declines opportunity to comment

By: Martin Creamer     27th February 2018 New South African Mineral Resources Minister Gwede Mantashe has received a resounding welcome from the Chamber of Mines of South Africa, Business Leadership South Africa (BLSA) and mining luminaries. The Chamber of Mines of South Africa has welcomed the appointment of Mantashe, 62, describing him... 

Adani may sell stake in Carmichael coal mine amid funding delay

By: Bloomberg     22nd February 2018 The battle to build one of the world’s biggest coal mines has suffered a fresh setback after Adani Enterprises conceded it would fail to meet a March deadline to arrange A$3-billion in financing for the project. The December decision by the Queensland government to veto Adani’s A$900-million... 

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... 

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