Peter Ker

Peter Ker

Resources

Santos credit rating safe for now, says Standard & Poor's

Angela Macdonald-Smith and Peter Ker Santos is in no immediate danger of a further cut to its credit rating despite last month's downgrading of crude oil prices, Standard & Poor's has declared.

Australia accused of manipulating Australian dollar to save iron ore miners

Iron ore from Gina Rinehart's Roy Hill should still hit the market with a lower cost of production than the likes of Fortescue Metals Group, Atlas Iron and BC Iron.

Peter Ker US miner Cliffs says Australian iron ore miners are so desperate for cash that ''even the kangaroos are for sale".

Resources

Fortescue protects its margins, but debt continues to rise

As good as done and dusted: BC Iron can now compulsorily buy the rest of Kerry Stokes' Iron Ore Holdings.

Peter Ker The iron ore miner is rapidly cutting costs in a bid to remain profitable.

Resources

Fortescue still profitable despite iron ore slide

A remote-controlled mining truck loaded with iron ore at the Fortescue Solomon iron ore mine in the Sheila Valley in the Pilbara region of Western Australia.

Peter Ker Fortescue Metals Group has beaten analyst expectations for iron ore exports and believes it will escape asset writedowns at its half year financial results next month.

PanAust beats guidance but hints at writedowns

Peter Ker A 24 per cent slide in copper prices over the past year could result in more miners reporting asset writedowns next week.

Resources

Shake-up sends OZ Minerals from Melbourne to Adelaide

The relocation could see a major shake-up of staff at OZ, with chief financial officer Andrew Coles set to stand down from the company after 12 years of service.

Peter Ker The South Australian Government will also look for ways to help bring infrastructure support to OZ's Carrapateena project.

Arrium iron ore mine closure is just the beginning, says Citi

Arrium/One steel plant in Whyalla, South Australia.

Peter Ker More iron ore mines will shut before the end of 2015, according to the analysts at Citi.

Mining

Alcoa of Australia refuses to be tempted by bauxite boom

The ALCOA plant

Peter Ker Rising demand for Australian bauxite has not tempted Alcoa of Australia to join the export rush.

Mining jobs lost as Australian iron ore mines close

iron ore

Peter Ker High-cost mines are starting to close as the iron ore price slump persists.

Resources

Jobs lost as iron ore miners stumble

Caterpillar Inc. 793F autonomous haul trucks transport iron ore from the Kings mine site at Fortescue Metals Group Ltd.'s Solomon mining hub in the Pilbara region, Western Australia, on Monday, Dec. 2, 2013. Fortescue, Australia's biggest issuer of junk-rated mining bonds, is targeting investment-grade status as strength in iron ore prices lets the company cut its debt burden

Peter Ker The muck is starting to hit the fan in Australia’s iron ore industry, where companies reported more than $3billion in asset writedowns this week, along with the probable loss of more than 500 jobs.

Resources

BHP Billiton will scale back its US shale oil and gas operations and report multimillion-dollar impairments

BHP Billiton's Atlantis South oil and gas project, in the Gulf of Mexico. Oilfield services company Schlumberger said it was expecting the oil and gas industry to reduce spending on exploration and production in 2015, and employee numbers would need to fall in lockstep.

Peter Ker The Australian miner looks set to trim capital spending even further in the wake of sliding prices for oil, iron ore, coal and copper.

Melbourne licorice maker Betta Foods goes into administration

confectionery

Peter Ker Melbourne-based licorice and ice-cream cone maker Betta Foods has gone into administration.

Resources

Oil slump forces BHP to cut shale; faces up to $US250m in impairments

Rig numbers in the US shale division would decline by as much as 40 per cent by the end of June.

Peter Ker BHP Billiton has responded to the oil price slump by scaling back operations in its US shale division, and flagged the prospect that the petroleum division could wear impairments of up to $US250...

Citic facing billion-plus in impairments on Palmer project

Peter Ker Citic Limited warns that falling iron ore prices will force multibillion dollar impairments on its Australian assets.

Resources

Sirius shares soar on another discovery

PanAust is the latest miner to take the knife to its cost base.

Peter Ker The nickel aspirant has struck gold in Western Australia.

Mining

Rio Tinto ramps up sales ahead of dividend day

Rio Tinto

Peter Ker Rio Tinto production results show the miner exceeded expectations for iron ore production and sales.

Resources

Expansion at PNG LNG a step closer

ExxonMobil's new LNG tanker Papua, custom-built for its PNG LNG venture.

Peter Ker A development decision on a third train at PNG LNG should happen before December 2017.

Oil rout to prompt changes in BHP's US arm

BHP logo

Peter Ker BHP's shale contractor in the US has started preparing for spending cuts.

Commodities

Copper joins commodity price plunge, World Bank tips lower global growth

Copper ended 2014 near five-year lows.

Vesna Poljak, Greg Earl and Peter Ker The price of copper plunged to a more than five-year low on Wednesday, as the metal joins iron ore and oil as victims of the commodity price crash, drawn out by a fresh blow to global growth.