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.
Alumina Ltd (ASX:AWC),(NYSE:AWC) and its partner have received a shot in the arm by the renewed demand in aluminium and alumina allowing the company to get out of the red.
In a case of literally hitting a gold sweet spot Artemis Resources (ASX:ARV) seems to have struck lucky with their very first drill hole in the Mt Clement Gold Project in Western Australia.
The 33 miners trapped in a mine in Chile will have to wait even longer to be rescued due to a fresh cave in. The accident occurred in a San Jose mine near the city of Copiapo in north Chile.
By Dr. Cameron Chai
9 Aug 2010
Linc Energy (ASX:LNC) is likely to get some help from a partner to build its first commercial plant in Australia. The Managing Director Peter Bond said that they were still about two years away from commercialising their underground coal gasification technology.
By Dr. Cameron Chai
9 Aug 2010
Rio Tinto seems reassured enough by the federal government’s changes to the proposed new mining tax (MRRT) to begin investing in Australian mines again.
Whitehaven Coal Ltd. (ASX:WHC) may be facing a buyout. As per the company statement Whitehaven confirmed that a data room has been in place for a long time in relation to various potential transactions. However the uncertainty over any proposal developing due to the current third party talks still existed.
Rio Tinto is riding high on China's need for steel to set up industries.
The resurgence of the economy in China has helped the mining industry make record profits with Rio Tinto announcing a 125% increase in profi...
Paladin Energy (ASX: PDN) has entered a memorandum of understanding with China's biggest nuclear power company Guangdong Nuclear Power.
The Upper Big Branch mine data recorder has not give any indication of a sudden methane build up before switching off 98 seconds prior to the explosion which killed 29 men in the coal mine.
Foxleigh coal mine in Queensland has gained a new investor in Japan's Nippon Steel.
Nippon has bought a ten percent stake in Foxleigh mine which is an open cut mine in Bowen Basin in Queensland. Nippon took over t...
By Joel Scanlon
8 Aug 2010
Australia has posted a record monthly trade surplus of $3.54 billion dollars for the June period. The Australian Bureau of Statistics said that this was the highest surplus ever recorded.
By Joel Scanlon
5 Aug 2010
Whilst the coal sector in Australia is consolidating gains and attracting new investments, Whitehaven Coal (ASX:WHC) is said to have refused an informal approach for a takeover bid but has confirmed it is in discussions with other companies over potential corporate transactions.
Global Geoscience Ltd. (ASX:GSC), an Australian based mineral exploration company, is selling a copper gold project in northern part of New South Wales to White Rock Minerals Ltd.
By Dr. Cameron Chai
5 Aug 2010
The global recession seems to be dissipating as more investments get planned for the mining industry. Mining giant Xstrata is all set to invest $ US5.3 billion to build a copper mine in Peru and to expand a coal mine in New South Wales, Australia.
By Joel Scanlon
5 Aug 2010