SouthGobi Energy Resources Ltd. (SGQ.TO) has been issued a mining license for its wholly owned Mongolian operating subsidiary SouthGobi Sands by the Mineral Resource Authority of Mongolia. Shares in the company rose by 5 cents after the announcement to end up at $10.75.
The Fortescue Metals Group has decided to use robotic dump trucks in the Solomon project being planned for the Pilbara region of Australia's North West. Andrew Forrest’s company will have an automation rollout in Western Australia that is larger than the one operated by rival company Rio Tinto.
Currie Rose Resources has completed the initial three holes of a 10,000 m drill program, which is scheduled for this summer for its two main projects in the Lake Victoria Greenstone belt, Tanzania.
Newcastle Minerals has completed a 1,050 m diamond drilling program, totaling four holes at its Chester Project, which is situated in northwestern Ontario, Canada.
The Australian mining boom has carried the country’s trade surplus to a seven month high of $ 2.33 billion. As per the Bureau of Statistics this is the revised trade surplus from the $ 1.62 billion in April. The report was released in Sydney on Tuesday and will give a major boost to the nation.
Caterpillar Inc is all set to increase its investment in the Griffin facility. They will create 200 jobs in Spalding County with their investment of $ 120 million. The money will be spent on machinery, equipment, and upgrades to the existing facility as per Governor Nathan Deal.
Australian Treasury Secretary Martin Parkinson is concerned about discouraging overseas investment. He feels that politicians squabbling over foreign investors will drive away essential overseas investments in the country if things are not handled with care.
GeoGlobal Resources has concluded the terms of the Assignment Agreement, which has been signed with a third party and has acquired the rights and obligations of the assignment of the third party for a current Drill Rig and Associated Services Contract for a drilling rig, which is semi-submersible.
OGX Petróleo e Gás Participações (OGX) has discovered the existence of hydrocarbons in 1-OGX-47-RJS well’s Santonian section, in Santos Basin’s shallow waters, in the BM-S-59 block. The company has a 100% working interest in this block.
In another setback to the mining tax proposed by the federal government a senate inquiry found that it would affect Australia’s competitiveness and should be cancelled. The Western Australia Liberal senator and committee’s chairman Mathias Cormann summarized the findings on the minerals resource rent tax (MRRT) in Perth.
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