Mining & Resources

 

Whitehaven attacked over coal demand claims

Whitehaven Coal's market guidance is under question.

Peter Ker 4:34 PM   Whitehaven Coal is accused of misleading investors about coal's future in the face of stricter environmental laws.

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NSW mining, CSG proposals to face closer scrutiny of benefits

The benefits of mining projects will come in for closer scrutiny.

Peter Hannam 4:07 PM   Companies lodging proposals for new mining and coal seam gas projects will have their claims of resulting benefits more closely examined following the release of new planning guidelines.ill

Miners should better manage capital to meet div payments

Miners focused on freeing up cash as commodity prices dropped.

Tess Ingram 12:00 PM   The world's biggest miners could do more to manage working capital to unlock cash needed to meet their demanding dividend commitments, EY says.

Gold tumbles as US rates start to rise

Bullion typically moves inversely to the dollar, which rose 0.8 per cent against a basket of 10 major currencies.

Joe Deaux and Eddie van der Walt 8:29 AM   Gold posted its biggest loss since March after the Federal Reserve's first interest-rate increase in almost a decade strengthened the greenback.

Citrine sees more commodities pain ahead

"Zinc could be the biggest bullish opportunity for 2016," Crone said. "A price rally is a question of when rather than if".

Joe Deaux and Javier Blas 5:43 AM   The biggest rout in industrial metals since the financial crisis is set to deepen, according to Citrine Capital Management.

Goldman slashes iron ore price forecasts

"A maturing steel market in China is ushering in a long period of hibernation for the iron ore industry," Goldman analysts say.

Jasmine Ng 2:47 AM   Goldman Sachs is predicting the price of iron ore will average $US38 a metric ton in 2106 and slide to $US35 in both 2017 and 2018.

Removing cyanide fails to win 'social licence' for mining Majors Creek

Matt Darwon at Majors Creek Falls, at the top of a wider catchment for the South Coast.

John Thistleton   Matt Darwon says miners must do a lot more than merely fulfil technical requirements to be allowed to mine.

Rio Tinto has its ion lithium

Rio Tinto is looking to the future with its interest in becoming a lithium miner.

Peter Ker   Rio Tinto is keen to mine lithium for car and battery manufacturers ... eventually.

Copper higher, UBS sees turning point for prices

Ford Motor plans to launch a second line of aluminium-intensive trucks.

​Copper rose, recovering from a one-week low as metals investors covered short positions

Phase out coal to save reef, Queenslanders say

Most respondents agreed Australia "needs to restrict coal mining because of the impact that it is having on our natural environment and biodiversity".

Amy Remeikis   Queenslanders believe coal mining should be phased out to save the Great Barrier Reef, with concern over the impact mining is having on one of the world's greatest natural icons.

Whitehaven Coal shares jump on earnings guidance

Whitehaven expects EBITDA for the first half to be between $100 million and $105 million.

Tess Ingram   Shares in Whitehaven Coal have soared after the miner revealed its earnings for the first half could exceed $100 million.

Mineral Resources battles the iron ore crash

Mineral Resources is aiming to lower its iron ore costs below $A40 a tonne.

Tess Ingram   Mineral Resources tends to fly under the radar when the market turns a critical eye on the country's embattled iron ore producers.

Australian firms to win 'substantial' work on Oyu Tolgoi

Australia's export credit agency is confident that small Australian companies will win work on Mongolia's Oyu Tolgoi expansion.

Peter Ker   Australia's export credit agency says the fact procurement work for Rio Tinto's Oyu Tolgoi expansion will be conducted from Brisbane gives local companies a good chance to win work on the project.

Call for BHP Billiton to cut dividend in half

BHP chairman Jac Nasser said at the company's annual meeting in Perth in November that the board would review the dividend before its February results.

James Thomson   BHP Billiton should protect its balance sheet by halving its dividend payment and abandoning its so-called progressive dividend policy, which ensures its US dollar shareholder payouts won't fall.

Tiger bites at cheaper debt

ASX-listed Tiger Resources has dramatically reduced its debt challenge with a new deal.

Peter Ker   A new $US187.7 million ($260 million) debt and equity deal involving the IFC, among others, is set to almost halve the interest costs faced by miner Tiger Resources.

Rivals 'hanging on by fingernails', says Rio's Walsh

Walsh reiterated his prediction that there are few companies that can withstand iron ore prices at $US30.

Jesse Riseborough and Jonathan Ferro   The iron ore collapse has pushed producers to the brink of survival, according to the head of the world's second-biggest mining company.

BHP weighs US oil cuts, write-downs

Gas prices in the US have slumped putting further pressure on BHP's already emasculated shale division.

Amanda Saunders   BHP Billiton is expected to again cut capital spending for its US oil and gas business and is considering shutting down more rigs and further write-downs to the onshore division.

Copper drops as commodity rout seen deepening

The Bloomberg Industrial Metals Subindex is trading near the lowest since 2004.

Andre Janse van Vuuren and Luzi Ann Javier   Copper futures dropped the most in five weeks on concern the metals rout may deepen on slowing demand in China, the world's biggest user.

BHP feels heat as US gas prices sink

Schlumberger has been one of the biggest contractors to BHP in the past three years, particularly in the US shale sector.

Peter Ker   More impairments could be on the way as prices for US gas hit their lowest level since the index began in 2001.

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Rio Tinto secures $US4.4b for Mongolian mine

Rio is taking steps to get all workers to focus on costs.

Peter Ker   Australian taxpayers will play a role in Rio Tinto's Oyu Tolgoi expansion project, after Australia's export credit agency joined a $US4.4 billion loan syndicate.

Copper slips, nickel edges higher

"If markets start to feel maybe things are turning around in China, there's room for short covering," said William Adams, head of research at Fast Markets.

Copper slipped as oil tumbled towards 11-year lows and risk appetite was subdued ahead of an expected US rate hike.

Walsh backs Carney on greenhouse gas reporting revamp

Sam Walsh says companies should more clearly define, measure and report greenhouse gas emissions data.

Amanda Saunders   Rio Tinto chief Sam Walsh has backed a push by Mark Carney, the governor of the Bank of England, for listed companies to more clearly report greenhouse gas emissions data.

BHP chief wants more female scientists

CEO Andrew MacKenzie.

Andrew Mackenzie   Gaining greater diversity is part of challenging innovation from every angle.

EXCLUSIVE

ATO's business hit list revealed

Generic Singapore skyline. July 2015 photo Louie Douvis AFR

Nassim Khadem   Hundreds of millions of dollars of revenue could be up for grabs as the Australian Taxation Office announces reviews of multinationals using offshore hubs in Singapore to minimise their tax.

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MMG boss tips 2016 copper recovery

MMG chief executive Andrew Michelmore rings the bell at the ASX to mark his company's listing on Monday.

Bloomberg News   Copper prices will recover in 2016 as production cutbacks and higher costs create a tighter market, MMG chief executive Andrew Michelmore says as the miner prepares to start its biggest copper mine in Peru next quarter.

Island nation fears smelter closure

Clive Palmer's Queensland Nickel refinery is in danger of closing.

President warns Clive Palmer there could be unrest if plant closes.

Billions set to flow for Rio's Mongolian dream

Rio Tinto's long haul in Mongolia could soon come to fruition

Peter Ker   International banks could approve billions of dollars of support for an expansion of Rio Tinto's Oyu Tolgoi as early as this week

Michelmore calls copper shortage in 2016

MMG chief executive Andrew Michelmore's view on copper is far more bullish than that of BHP Billiton.

Peter Ker   MMG chief executive Andrew Michelmore has revealed himself to be perhaps the most bullish of the copper bulls, saying that copper markets could be in deficit in 2016.

World on cusp of historic climate deal

French President Francois Hollande, left, and UN Secretary-General Ban Ki-moon, right, applaud French Foreign Minister Laurent Fabius at the climate conference.

Tom Arup and Peter Hannam, Paris   The world is on the cusp of a historic agreement to tackle climate change after the organisers of the Paris summit released the final wording of a deal, mapping out compromises on the key disputes that had divided countries.

Clive Palmer blasts Treasurer Curtis Pitt over guarantee refusal

Palmer United Party leader Clive Palmer addresses the media during a press conference at Parliament House in Canberra on Monday 27 October 2014. Photo: Alex Ellinghausen

Cameron Atfield   Clive Palmer has ramped up his war of words with the Queensland government over its refusal to provide a $35 million bank guarantee to help keep his nickel refinery afloat.

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