Mining Business News

RSS

Fortescue Metals Eagerly Awaits Approval for 5th Berth at Port Hedland

Fortescue Metals Group is hoping that the government approval for a fifth berth at Port Hedland will come in by next month.

From Fortescue Metals Group Ltd 30 Jan 2012

Vale SA Hit with $5.6 Billion Tax Bill

Brazilian mining giant Vale SA, has been charged with $5.6 billion in unpaid taxes in Brazil. The world’s largest iron ore producing company plans to lodge an appeal against the decision.

From Vale 30 Jan 2012

Caterpillar Beats Earnings Estimate Sees Good Growth in 2012

Caterpillar Inc., the world’s largest producer of construction and mining equipment, saw its fourth quarter earnings rise per share to $2.32 as compared to $1.47 last year.

From Caterpillar 30 Jan 2012

Posco Buys into Roy Hill, Rinehart’s Wealth Soars

South Korean company Posco has decided to buy a 15% interest in the Roy Hill mining project in the Pilbara region. The steel making giant is investing $1.5 billion in the mine owned and operated by Gina Rinehart’s company, Hancock Prospecting.

From Hancock Prospecting Pty Ltd. 23 Jan 2012

Trafford Resources Sells Stake in Robust Resources

Trafford Resources has sold its 5.89% stake in Robust Resources. This has brought in nearly $7.4 million cash for the company from the sale of its 5.3 million shares at the rate of $1.40 per share.

From Robust Resources Limited 23 Jan 2012

Zambia Seeking to Gain from Booming Mining Sector

Zambia is looking to realise greater profits from its mining industry. The Mines Minister Wilbur Simuusa was speaking to mine supplier and contractors at the Chingola mine club when he said that in terms of mineral resources they were the richest nation and yet they were counted amongst the poorest nations in the world.

19 Jan 2012

Lundin Mining Reports Copper Production Increase

Lundin Mining Corporation declared that its fourth quarter copper output was up by 10%. The company produced 27,488 tonnes of copper in the final quarter of 2011.

From Lundin Mining Corporation 17 Jan 2012

New Dawn Mining Reports End to Work Stoppage at Zimbabwe Gold Mine

New Dawn Mining said that it had resumed mining operations at its Turk and Angelus mine in Zimbabwe. Mining had been stopped by underground mine workers at the mine last week, but now full mining operations are on track.

17 Jan 2012

Outrage as Some Australian Miners Required to Buy Chinese Equipment

Australian mining companies are being asked to buy Chinese equipment as a pre-condition to exporting minerals. Contracts are said to specify that the companies buy specific, non-Australian manufactured equipment. This is being seen as an outrage by Australian manufacturers.

17 Jan 2012

Argonaut Resources Fires Back at SA Gov Ruling on Torrens JV

Argonaut Resources, a junior Australian mining firm, has criticized the South Australian government for wasting its time and money over mining and native title regulation. The criticism came after the exploration license it was given for its Torrens Joint Venture was overturned.

17 Jan 2012