BHP Billiton (ASX:BHP) says that despite its petroleum and iron ore divisions having both achieved their annual production records, the mining giant is continuing to err on the side of caution about the short term outlook for the global economy.
Aquarius Platinum (ASX: AQP) shares which had tumbled yesterday after the government in North West Province, South Africa proposed rules limiting 'carve out' of underground mine caverns, recovered today.
By Joel Scanlon
20 Jul 2010
Santos (ASX:STO) has secured loans worth $2 billion from nine banks for its liquefied natural gas (LNG) plants in central Queensland and Papua New Guinea. The construction of the Gladstone project in Australia and the new one in Papua New Guinea are expected to benefit from the loan.
Paladin Energy Ltd (ASX:PDN) is in talks to take over NGM Resources Ltd (ASX: NGM). NGM is a diversified mineral exploration company with a focus on uranium and base metals.
Chevron has signed a deal to supply liquefied natural gas (LNG) to a Korean Gas company from its Wheatstone project off the Pilbara in Australia's North West.
Iluka Resources (ASX:ILU) has seen a 53 % growth in revenues in the second quarter of 2010. The sales revenues before hedging have reached $229 million. A year ago sales revenue were at $124 million.
Fortescue Metals Group Ltd. (ASX:FMG) has reported a hike in iron ore shipments in the June quarter this year as compared to the year before. FMG has shipped 11.04 million tonnes of ore in the June Quarter in 2010 which is a 36 per cent increase from the corresponding figures of last year.
The upcoming Australian Federal elections may decide the fate of the controversial mining law in Australia. While mining industry heads do not wish to publically politicize the situation, they are privately hoping for a change of government.
By Dr. Cameron Chai
20 Jul 2010
Troubles ahead for Indian steel giant Arcelor-Mittal and South Africa's Kumbra Iron Ore in the ongoing contractual dispute between the two companies. The dispute is turning into an all out war between the South African steel industry and the Indian company.
By Joel Scanlon
20 Jul 2010
A potential copper and gold deposit in Balochistan, Pakistan has attracted a fresh investment of $3.2 billion via a joint venture. The joint venture comprises of Barrick Gold Corporation from Canada and Tethyan Copper Company from Chile.
Xstrata Copper has concerns over finding skilled workers in Queensland given the high volume of mining activity taking place in the state and in Western Australia.
By Joel Scanlon
20 Jul 2010
Environmental concerns are affecting China's mining activities again. Zijin Mining Group was required to shut down a copper plant in Shanghang in the Fujian province after a team of government investigators found a substantial leakage of waste water on July 3, 2101.
By Joel Scanlon
20 Jul 2010
Oz Minerals (ASX:OZL) hopes to create 250 new jobs at its Prominent Hill operation now that the new federal mining law does not affect copper ore. Prominent Hill is a open cut copper and gold mine.
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.
BP officials must be heaving a sigh of relief for the first time since April as the new cap on the oil leak seems to be holding, and the gush of oil into the Gulf of Mexico now appears to be controlled.
By Dr. Cameron Chai
20 Jul 2010