Xstrata is mounting pressure on the Australian federal government to start a debate on the carbon tax. The chief executive of Xstrata Coal Peter Freyberg said that he wanted to see the government start a proper consultation process on the issue.Xs
Mongolian Mining Corp is planning to increase its profit margin by expanding production and completing infrastructure projects with the penultimate aim of becoming listed on the Hong Kong stock exchange.
The rescue operation for the 33 miners trapped underground at the San José copper-gold mine, Chile reached a milestone when the 'Phoenix Capsule' reached the mine site on Saturday.
Cudeco (ASX:CDU) has picked up $20 million to ease market volatility via an institutional investor. The company has issued 10 million new shares at the rate of $2 each to the investor. The announcement made Cudeco shares rise by 12 cents, closing the week out at $2.15 per share.
Australia won't see as many takeovers in the coal mining industry as many potential targets have already been acquired after the recent surge in acquisitions as per UBS's head of metals and mining Campbell Stewart.
Rio Tinto is planning a AUD$242 million expansion at its iron ore facility in the Pilbara region, Western Australia. The Dampier Port expansion works will allow the global mining giant to process an additional 5 million tonnes of ore annually.
Moly Mines Ltd (ASX,TSX:MOL) issued a statement saying that it shipped out 70,000 tonnes of ore from Atlas Iron on the bulk panama vessel Bergen Max from its Utah Point berth and loader at Port Hedland.
Continental Coal Ltd's (ASX:CCC) new South African mine has surpassed production targets barely two months after opening.
Large increases in the volumes of minerals being shipped out of Australian ports will see commodity exports rise to unprecedented levels.
Australia's Reserve Bank Governor Glenn Stevens said that interest rates will rise soon despite soft consumer spending and tight household budgets, because of the booming mining industry. Australia is riding the largest minerals and energy boom since the late 19th century.
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