Australian govt releases 27 areas for exploration

The federal government on Monday announced the exploration acreage release, comprising 27 areas across nine basins in Commonwealth waters off Western Australia, the Northern Territory, Victoria, South Australia and Tasmania. Using the Australian...

AuRico adjusted profit soars nearly threefold

TSX-listed AuRico Gold said on Wednesday its first-quarter adjusted profit rose by 186.7% to $57.8-million, or $0.21 a share, as the company sold more gold at a higher price. AuRico beat analyst expectations of adjusted earnings pinned at $0.12 a...

Crocodile Gold expects 200% production increase

Following the acquisition of two new Australian mines from AuRico Gold, TSX-listed Crocodile Gold Corp on Tuesday said it expected a threefold gold production increase this year to between 155 000 oz and 175 000 oz. The company, which mainly...

Ferguson awards 12 offshore exploration permits

Twelve new offshore petroleum exploration permits have been awarded in waters off Western Australia and Victoria, which would see some A$303-million in new investment over the next three years. Federal Resources and Energy Minister Martin...

Santos warns of NSW gas shortage

New South Wales, which imports 95% of its gas from South Australia and Victoria, could potentially face a significant gas supply shortage as early as 2017, if coal seam gas (CSG) resources weren’t developed soon, oil and gas major Santos warned...

BassGas cost climbs by A$100m

ASX-listed Origin Energy has warned of a A$100-million cost blowout at its BassGas enhancement project, in Victoria. The energy provider said in a statement on Monday that the unique offshore construction challenges associated with working on the...

New South Wales Parliament overturns uranium exploration ban

The legislation to lift a ban on uranium exploration in New South Wales has passed through the state Parliament, with a 20 to 18 win in the Upper House. In February, Premier Barry O’Farrell said it was time for New South Wales to join the...

Australian petroleum output at 3-year low

Australia’s petroleum production fell some 6% in 2011, owing to weak demand, floods and maintenance issues, energy economist EnergyQuest reported on Monday. Petroleum production, which includes oil, liquefied petroleum gas (LPG), condensate and...

Australian exploration spend up 32%, iron-ore makes up lion’s share

Exploration expenditure in mineral-rich Australia rose 32% to A$2.95-billion in 2010/11, with iron-ore exploration accounting for most of the spend, data showed this week. Some A$655-million was spent on exploring for iron-ore, one of...

NSW overturns uranium exploration ban

New South Wales has lifted a ban on uranium exploration – a move industry representatives welcomed on Wednesday. Premier Barry O’Farrell said on Tuesday evening that it was time for New South Wales to join the mining boom, which was...

Alcoa reviewing viability of Victoria smelter

Aluminium major Alcoa would be reviewing the viability of the Point Henry aluminium smelter, in Victoria, as global economic conditions continued to deteriorate. The miner said on Wednesday that the current global economic conditions were...

Company Announcement: RCT opens new branch

Australian mining technology supplier Remote Control Technologies has opened a new Queensland branch office, in Brisbane, continuing the build-up in regional support for its world-leading products.