Peter Ker

Peter Ker

Bank bosses want end to budget impasse

Clancy Yeates and Alana Schetzer with Peter Ker Commowealth Bank of Australia chief executive Ian Narev has warned that the stalled progress of the budget is a risk to a fragile economic outlook.

Mining

OZ Minerals reports third consecutive half year loss

Oz Minerals reported a $14.3 million underlying loss for the six months to June, which was not as bad as the $61 million loss some analysts predicted.

Peter Ker A third consecutive half year loss has not dimmed OZ Minerals' desire to pay out dividends, with the miner once again tapping into its cash balance to pay shareholders a 10 cent dividend.

Copper miner OZ Minerals pays dividend despite half-year loss

OZ reported a $14.3 million underlying loss for the six months to June, not as bad as some analysts forecast.

Peter Ker The copper miner's cash balance has fallen by almost 90 per cent in less than four years.

Resources

Complications for Kerry Stokes' $250 million BC Iron deal as Clive Palmer digs in over land

Refusing to budge: Clive Palmer.

Peter Ker Fresh from playing havoc with the federal budget, Clive Palmer is digging in again, refusing to budge in a battle with the WA government over a patch of land crucial to fellow billionaire Kerry...

Gindalbie's $640m writedown of Karara project could spell end

Sino Iron's magnetite project has also been in trouble.

Peter Ker The $70 million company has taken a $640 million impairment.

Takeover

BC Iron in $250m deal for Kerry Stokes' iron ore venture

The Iron Ore Holdings board has recommended the deal to its shareholders, which will require at least 90 per cent take up to proceed.

Peter Ker Kerry Stokes' iron ore venture is set to be acquired under an estimated $250 million takeover deal announced today by established iron ore miner BC Iron.

Rio Tinto fast-tracking Queensland bauxite mine South of Embley

Mining operations can be seen at the Rio Tinto alumina refinery and bauxite mine in Gove.

Peter Ker An Australian bauxite project could be one of the next major spending items announced by Rio Tinto, with chief executive Sam Walsh confirming he has fast-tracked studies into the South of Embley...

Returns

Rio Tinto trying to find a way to use franking credits in imminent round of shareholder returns

Rio chief Sam Walsh: Board will finalise shareholder returns at the full-year results in February.

Peter Ker The miner is struggling to find a way to reward shareholders across two tax systems

Door still open for mega-merger between Newmont Mining and Barrick Gold

Peter Ker Visiting Newmont boss will also meet WA Premier next week over gold royalty hike fears

Mining

Aluminium likely to be Rio Tinto highlight

Peter Ker Iron ore is always the focus of Rio Tinto’s financial results, but the long-suffering aluminium division could provide one of the more interesting tales.

MIning

Mining profit margins lower than people think, says Newmont boss

Peter Ker Newmont head says mining industry's failure to disclose the full costs of doing business is partly responsible for the wave of royalty increases imposed by governments.

Mining

Rio Tinto smashes analyst expectations with $US5.1b profit

Rio Tinto has reported underlying earnings well ahead of analyst expectations.

Peter Ker Rio Tinto looks set to deliver a "material increase" to shareholder returns within the next 12 months, after revealing a set of half year results that were far better than expected.

Mining

Boardroom coup likely to see Cliffs on the selling block

Exposed: Cliffs Natural Resources has confirmed that activist hedge fund Casablanca Capital is expected to control six seats on the company's 11-member board.

Peter Ker Shareholder votes are still being counted, but Cliffs says control has most likely shifted to hedge fund Casablanca.

Resources

BHP changes its tune on Olympic Dam project

Heap leaching has taken pole position on the list of possible answers to the riddle that is the development of Olympic Dam.

Peter Ker Five years ago, BHP Billiton had a clear view about the viability of using heap leaching to extract copper and other precious minerals from the ­extraordinary ores of Olympic Dam.

Resources

Local miners keen to run ruler over Cliffs assets

Mining

Peter Ker Two Australian miners have expressed interest in the iron ore business that American miner Cliffs Natural Resources is expected to put on the market in the near future.

Mining

Rio Tinto closes book on Riversdale disaster with $US50m sale

Peter Ker Rio Tinto has washed its hands of the disastrous $3.9 billion Riversdale Mining acquisition, by announcing a sale of its Mozambique coal assets for just $US50 million.

Rio Tinto sells Mozambique coal assets for $US50 million

mining

Peter Ker Rio Tinto has washed its hands of the disastrous $3.9 billion Riversdale Mining acquisition, by announcing a sale of its Mozambique coal assets for just $US50 million.

Mining

Goldminer Regis Resources warns of $280 million impairment

Mixed fortunes for goldminers

Peter Ker Australia's third-biggest goldminer by market capitalisation, Regis Resources, has warned it may face an impairment of up to $280 million, as its difficult year continues.

Resources

American miner set to divest Australian iron ore

Cliffs' infrastructure may appeal to a new buyer.

Peter Ker A boardroom coup could see Australian assets put in the shop window.

Takeovers Panel to probe Gutnick partnerships over Blackham gold mining company

Joe Gutnick.

Peter Ker Directors of Blackham Resources want Joe Gutnick stripped of shares in the explorer.