In a bid to provide better mining regulation and transparent functioning of government the Minerals Resources Minister of South Africa Susan Shabangu announced a new mining moratorium in Pretoria yesterday.
Leighton Holdings Ltd (ASX: LEI) reported a 39% rise in full year net profits on Monday. The company said that work in hand had increased to a new record making sure that it was looking forward to a good current financial year as well.
Toxic leaks, oil spills and fires seem to be plaguing Zijin Mining Group Co. The biggest gold producer in China has decided to slow down its pace of expansion overseas to focus on strengthening the safety and environmental standards at its domestic operations as per a statement made by company Chairman Chen Jinghe.
The Managing Director of Bradken (ASX: BKN), Brian Hodges says that the financial crisis faced by the company was over
Anna Bligh, the Queensland Premier announced that the state government is carefully considering an offer made by a consortium of coal companies to buy the state's coal rail tracks. Members of the consortium including BHP Billiton, Xstrata Plc and 11 other coal producers have made an offer of AUD$4.85 billion to the Queensland government.
Leighton Holdings Ltd (ASX:LEI) recently announced that its Asia unit had won a five year mining contract worth AUD$172 million in Indonesia.
Concerns over blasting to build a ship channel are growing amongst environmentalists regarding the LNG plant that Inpex will build in Darwin Harbour. The company needs to blast away rock to make a new shipping channel for its gas plant.
Linc Energy (ASX:LNC) shares have jumped more than 36% after it said it was in talks with Adani Enterprises to sell its coal mines. Linc Energy CEO Peter Bond said that the coal mines at the Galilee tenement, which Adani is looking to buy, were valued at $1.3 billion.
A full financial, technical and environmental review will be undertaken by the members of the U.S. Export - Import Bank before they take a vote on giving India's Reliance Power a loan. The loan worth $600 million is to finance a new coal fired power plant to be located in India.
Rio Tinto is ramping up work in the Pilbara region of Australia. The mining giant has pledged US$200 million in funding for its iron ore operations expansion in Western Australia's Pilbara region.