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...

Castlemaine doubles output in March Q

Gold miner Castlemaine Goldfields has more than doubled its gold production for the quarter ended March, reaching 4 610 oz, compared with the 2 023 oz produced in the previous quarter. Production from the Ballarat mine, in Victoria, decreased to...

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...

Company Announcement:Bob Brown’s carbon tax to hit NSW power bills harder

Senator Bob Brown‟s parting legacy, the Federal Government‟s carbon tax, will increase the electricity costs of NSW families and businesses more than the other States because NSW receives none of the Energy Security package compensation for...

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...

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...

Jobs outlook strong in Australian mining sector – survey

Job seekers in the Australian mining and construction industry were likely to benefit from a favourable hiring climate in the first quarter of 2012, said recruitment solutions provider Manpower. In a quarterly outlook survey, it said employers in...

Castlemaine raises funds for Ballarat development

Gold miner Castlemaine Goldfields on Thursday reported that it would undertake a one-for-one accelerated non-renounceable entitlement offer to raise some A$15.3-million, at the offer price of 10c a share. The entitlement offer would comprise a...

Company Announcement: Drilling at Paulsens returns 12,178gpt

Northern Star Resources advises that drilling at its Paulsens Gold Mine in WA has returned an intersection of 0.8m at 12,178gpt gold (12.7kg/t or 1.27%).