Mining & Resources

 

Rio Tinto caps Australian iron ore production

Speaking at Rio's Australian meeting of shareholders in Brisbane, the miner has vowed not to oversupply the market that ...

Peter Ker 12:14 PM   Mining giant says it has no plans to expand its local iron ore production beyond 360 million tonnes and has defended plans to build a copper mine on Nnative American lands

Fortescue tips decline in iron ore speculation

Fortescue Metals Group chief executive Nev Power has overseen more than $US2 billion of repayments this year.

Perry Williams 5:22 PM   Fortescue Metals Group expects the iron ore price to steady as the Chinese government moves to curb market speculation with a new set of regulatory rules.

BHP dives on Brazil lawsuit

The shares fell sharply on news Brazilian prosecutors have launched a $US43 billion civil suit against the company's ...

Peter Ker 3:55 PM   Shares in BHP are sinking fast following signs the Samarco disaster may cost more than first thought.

BHP Billiton, Vale face new $58b Brazilian lawsuit

The dam burst caused a wave of mud to bury the district of Bento Rodrigues and clog the Rio Doce river in Minas Gerais state.

RT Watson and Yasmine Batista   BHP Billiton, Vale and their Samarco joint venture in Brazil face a new $58 billion civil suit over last year's deadly mine disaster.

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Iron ore futures drop as inventories surge higher

BHP owns 50 per cent of Samarco, a Brazilian iron ore miner that shot to prominence after a tailings dam at its mine failed.

Jasmine Ng   Iron ore futures in Asia tumbled as rising port inventories in China hurt prices that have been propelled higher by an improved economic outlook.

Copper hammered on China data, greenback

Copper cathode plates sit in an outdoor storage yard at the Aurubis metals plant in Hamburg, Germany.

Copper fell as funds took profits and manufacturing data from China undermined confidence.

Arrium administrators get long extension as OZ offers hope

Arrium's administrators will hold the next meeting of creditors in February 2017.

Sarah Danckert and Simon Evans   Arrium's creditors will next meet at the end of February 2017 after administrators from KordaMentha won a long extension.

Wesfarmers resources boss to retire

The resources division continues to weigh on Wesfarmers.

Tess Ingram   Wesfarmers' struggling resources business is set to lose its managing director Stewart Butel as the division continues to weigh on the conglomerate.

Bright days ahead, but no return to 'Minegolia'

Xanadu chief executive Andrew Stewart can see light at the end of the tunnel in Mongolia.

Peter Ker   Expansion of Rio Tinto's Oyu Tolgoi mine would boost investor sentiment toward Mongolia, but the heady days of "Minegolia" aren't coming back

Wesfarmers coal boss hangs up his boots

NCH NEWS- Planning Assessment Commission at Muswellbrook RSL-  Stewart  Butel Managing Director Westfarmers Resources ...

Wesfarmers has announced the retirement of Stewart Butel, who has headed its resources division for 10 years.

Adani faces new court challenge

A green group alleges Federal Environment Minister Greg Hunt acted unlawfully in approving Adani's Queensland mine.

Green group to allege minister acted unlawfully in approving mine.

Gold presses through $US1300 an ounce

Spot gold peaked at $US1303.60 an ounce, its highest since January last year, before easing 0.2 per cent to $US1290.90 ...

Gold rose to a fresh 15-month peak above $US1300 an ounce in holiday-thinned trade as an early retreat in the US dollar drove prices higher.

Bids from $5 for discarded mine gear

One of the items up for auction - Triton highcube 40ft container

Amy Mitchell-Whittington   Trucks, tools and containers among items up for grabs at auction.

Plan to restart Samarco challenged by Brazil

In November, Samarco's dam filled with sludge ruptured, burying the district of Bento Rodrigues and killing as many as ...

R.T. Watson   Prosecutors are trying to prevent the restart of Vale and BHP Billiton's stalled iron-ore venture until the mine proves it isn't continuing to pollute waterways.

Window closing for metal producers to cash in on rally

US Steel Corp to Freeport-McMoRan would benefit from following the example of AK Steel Holding, which announced an ...

Sonja Elmquist   Metal producers whose debt soared as prices collapsed have a chance to pay some back by tapping equity markets, but only if they act fast.

Speculators push aluminium to nine-month high

Three month aluminium on the London Metal Exchange posted gains of 10.3 per cent for April, its biggest monthly gain ...

​Aluminium hit a nine-month peak on Friday as speculators pushed prices higher thanks to a weaker dollar, but analysts were wary about a possible retreat.

Iron ore to retreat, says Itau's Passos

IOre with 62 per cent content delivered to Qingdao climbed 5.3 per cent to $US66.24 a tonne on Friday.

Jasmine Ng   Iron ore's surprise rally may be a thing of the past in just three months, according to Brazil's Itau Unibanco Holding.

Vale cool on Fortescue share option

Brazilian miner Vale says it did not seek permission to buy up to 15 per cent of Andrew Forrest's Fortescue Metals Group.

Peter Ker   Brazilian miner Vale has poured cold water on speculation it will soon buy 15 per cent of Fortescue Metals Group.

Rio Tinto in loan of last resort to Kakadu uranium miner

The town near the Ranger uranium mine was named Jabiru after the bird species in Kakadu.

Peter Ker   Rio Tinto will offer a $100 million loan to Kakadu uranium miner ERA in a bid to ensure it can complete its rehabilitation obligations near the world heritage site.

Iron ore falls as China hammers speculators

Ore with 62pc content delivered to Qingdao fell 2.7pc to $US61.09 a tonne on Wednesday, after sliding 11pc in the ...

Jasmine Ng   Iron ore retreated for a fourth day after commodity exchanges in China intensified a crackdown on speculative trading in raw materials.

Vale posts profit on cost cuts, rising prices

 Vale's average sales price in the quarter rose to $US46.50 a wet metric ton from $US37.18 in the fourth quarter and ...

RT Watson   Vale had its first profit in three quarters as the best-performing major iron-ore miner this year cut costs and prices rebounded.

Base metal prices bite Independence Group

A mining truck at AngloGold Ashanti and Independence Group's Tropicana gold project in Western Australia.

Tess Ingram   Independence Group may have sold its stake in Gold Road Resources but this is not indicative of a change in its growth strategy.

Scare campaign over climate policy kicks off

Cutting emissions is already an election issue before the formal hostilities have begun.

Peter Hannam   Bill Shorten is sending a clear signal he's willing to make climate a centrepiece of the 2016 election campaign.

No Thai goldmine pollution: Kingsgate

Kingsgate chairman Ross Smyth-Kirk.

Ron Corben   Senior executives of Australian goldminer Kingsgate Consolidated are strenuously defending the company's environmental record at its Thai operations.

Copper drops amid crackdown on Chinese speculators

Three-month copper on the London Metal Exchange closed down 1.2 per cent at $US4904 a tonne after earlier touching ...

Copper dipped to the lowest in a week on its third straight day of losses as a crackdown on speculators in China dampened sentiment.

World Bank lifts forecasts for iron ore

Ore with 62 per cent content delivered to Qingdao was at $US62.78 a dry ton on Tuesday, according to Metal Bulletin.

Jasmine Ng   Iron ore forecasts have been revised higher by the World Bank after the commodity rallied in the first quarter on a surge in steel prices in China.

Atlas Iron lives to fight another day

Atlas Iron managing director David Flanagan says the company will be "very resilient" if the debt restructure is implemented.

Tess Ingram   Atlas Iron's shareholders have given the troubled iron ore miner the chance to fight on by overwhelmingly backing a critical debt restructure proposal.

Adani faces another Qld legal battle

Three Adani mining leases were approved on Sunday.

Indian mining giant Adani is facing another court battle over its plans to build Australia's biggest coal mine.

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Fortescue Metals Group cuts debt load again

Fortescue chief executive Nev Power says the miner is delivering on cutting costs.

James Thomson   The resurgent Fortescue Metals Group will use the spoils of the higher iron ore price to repay another $US577 million of debt.

US Steel seeks to halt imports from China

"We have said that we will use every tool available to fight for fair trade," said US Steel Corp president Mario Longhi ...

US Steel Corp has launched a campaign to prevent imports from China's largest steel producers, as a trade brawl escalates.