The Chief Executive of Mirabela Nickel Ltd, Ian Purdy said that the company is looking forward to raising $148 million for growth.
By Dr. Cameron Chai
9 Sep 2010
Australia's resource exports had a record quarter with $44 billion worth of exports as per the Australian Bureau of Agricultural and Resource Economics (ABARE).
Santos is getting ready to sell 15% of its stake in a Gladstone liquefied natural gas project before it commits to the first phase later this year. The third largest oil and gas producing company in Australia is calling for a trading halt as it enters negotiations with Total.
The construction of Ivanhoe's Oyu Tolgoi Copper Gold complex in Mongolia is proceeding as per schedule. The President and Chief Executive Officer of Ivanhoe Mines Ltd. John Macken said that the successful ramp up to full scale construction was a remarkable achievement by the project's workforce and contractors.
Ann Pickard the new chairwoman of Shell Australia said that Shell had no plans to buy Woodside Petroleum. Shell already owns a 34 % stake in the company and has failed with a takeover bid for the Perth based oil and gas company in 2001.
By Dr. Cameron Chai
8 Sep 2010
Eldorado Gold Corporation has withdrawn its takeover bid for Andean Resources. The Canadian gold mining company's president and chief executive Paul Wright made the announcement on Wednesday.
The Metallurgical Corporation of China is being sued by Cape Lambert Resources (ASX:CFE) for a payment of $80 million.
Wayne Swan the treasurer seems at odds with the tax summit being offered to key independent MPs in return for their support to form a Labor government. Mr. Swan said that the tax was not on the summit agenda and that he would like to get this into legislative shape as quickly they possibly can.
By Joel Scanlon
8 Sep 2010
The Zijin Mining Group Company has called off the acquisition of Platmin Congo Ltd. after it was saddled with regulatory probes in China over a recent toxic spill.
By Joel Scanlon
7 Sep 2010
Locals in the world class Margaret River wine region in western Australia are protesting furiously over plans by two companies to build an underground coal mine 15 km from the town.
By Dr. Cameron Chai
7 Sep 2010
ArcelorMittal and Indiabulls will form a joint venture for coal and iron ore mining. Indiabulls Real Estate has power plants while ArcelorMittal is the world’s largest steelmaker. It currently produces 8% of global steel supply.
By Dr. Cameron Chai
7 Sep 2010
Johannesburg is under threat from a toxic tide of acid mine water which is steadily rising. The water which is right now about 600 meters below the city is rising at a rate of 0.4 to 0.9 meters per day. If left unchecked this toxic acid water can cause earth tremors, power blackouts and cancer among the residents of the city.
By Dr. Cameron Chai
7 Sep 2010
The proposed mining tax (MRRT) was criticized as being a mere election ploy by opposition finance spokesperson Andrew Robb.
By Joel Scanlon
7 Sep 2010
The new deposit in Mato Grosso state of Brazil may be the largest discovered iron ore deposit in the world. It may potentially be greater than Vale SA’s Carajas mine. The state Secretary Pedro Nadaf said that the new deposit may contain 11.5 billion metric tons of ore with 41% iron content.
By Dr. Cameron Chai
6 Sep 2010
After failing to acquire the copper mine in Namibia with Hindustan Copper, Indian company Nalco, Asia's largest, and one of the world's leading aluminium companies, has now decided to shoot for uranium assets in the African country.
By Dr. Cameron Chai
6 Sep 2010