Iron Road Ltd, an independent, South Australian focused iron ore project developer, is ready to build a major magnetite iron ore project on the Eyre Peninsula in South Australia. The community around Warramboo has traditionally been a farming region but if the open cut mine is established it would convert to a mining zone.
The Queensland government is looking to build subsidized housing projects in Blackwest. Blackwest is located west of Rockhampton in central Queensland.
The Rio Tinto Group has approved the expansion of its iron ore operations in Australia. The company is to invest $676 million over the next six months to profit from ever growing global thirst for iron ore. The funds have been sanctioned to enhance work on port and rail engineering projects in the Pilbara region.
Australian Treasurer Wayne Swan said on Tuesday that the investment needs and demand for capital for the country are set to grow proportionately with the resources boom. For this reason Australia will have huge opportunities for foreign investment. The Treasurer was speaking to the International CEO Forum in Canberra.
The Construction Forestry Mining and Energy Union (CFMEU) has applauded the breakthrough deal with mining giant Rio Tinto in Western Australia. The collective agreement for iron ore rail workers in the Pilbara region is the first such union agreement with the mining company for 18 years. With this the union gains its first foothold in the region after nearly two decades.
Mining magnate Clive Palmer has managed to get China to finance his latest project. The Chinese Exim bank will help develop the mine by financing the China First project in the Galilee Basin in central Queensland.
Galahad Metals has established a cut-grid in the significant Regcourt gold mine shaft region.
Focus Metals has retained the services of Roscoe Postle Associates (RPA), to start the mine design and engineering work at Lac Knife, Quebec flake graphite property.
IronClad Mining Ltd had signed an agreement with Sea Transport Corporation to use a multi-user port facility concept developed by Sea Transport Corporation.
Explosives and chemicals manufacturer Orica has reported a strong profit with a nearly fivefold increase in the first half net profit for the year. The net profit of $263.8 million was posted by the company for the six months till March 31, 2011. This is a 379% increase from $55 million that was posted in the first fiscal half of 2010.
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