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Mining & Resources

Hopes remain on merger deal as Barrick, Newmont talks hit snag

gold barrick newmont mining

Talks to merge the world's largest goldmining companies, Barrick Gold and Newmont Mining broke down over the weekend amid minor disagreements that leave open the possibility a deal could be revived, reports say.


Incitec Pivot face $100m gas hit: Moody's


Angela Macdonald-Smith Fertilisers and explosives maker Incitec Pivot will likely be worst hit by rising natural gas prices across the eastern states, taking a hit of about $100 million over the next two years, according to ratings agency Moody’s Investors Service.


Santos misses estimates despite strong jump in first-quarter sales

An undated handout photograph shows the Santos Ltd. coal seam methane gas project in Fairview, Queensland, Australia, provided to the media on Thursday, April 23, 2009. Santos Ltd., Australia's third-biggest oil and gas producer, said first-quarter sales dropped 15 percent after oil prices and output slumped. Photographer: Robert Garvey/Santos  Ltd. via Bloomberg News

Angela Macdonald-Smith Santos has missed analyst estimates for first-quarter sales and production, despite posting a 28 per cent jump in revenues.


Woodside boosted by oil, LNG

Gas pipes at Woodside.

Angela Macdonald-Smith Woodside Petroleum has started to reap the benefits of a jump in prices for liquefied natural gas from its $15 billion Pluto project in Western Australia, posting a 16 per cent increase in March quarter revenues.


Padbury keeps Oakajee backer a mystery


Peter Ker Controversial junior Padbury Mining has subtly changed its rhetoric this morning, in yet another request for further time to clarify who its business partners are in a $6 billion plan to revive the Oakajee Port and Rail project in Western Australia.


Iron ore remains strong performer for miner BHP Billiton


PETER KER Iron ore looks set to be BHP Billiton's biggest money-spinner for a while yet, after the miner revealed full-year production of the steel ingredient would be more than 2 per cent higher than previously advised.


Mine deaths shine spotlight on safety


JARED LYNCH The deaths of two men during the collapse of a coal mine in NSW’s Hunter Valley on Tuesday night has taken total fatalities across the mining sector to six this year, again bringing the safety credentials of the industry under focus.


Fortescue faces uphill task to meet target

Andrew Forrest

PETER KER Fortescue Metals Group has refused to give up on its full year export target, despite revealing a set of March quarter results that were weaker than analyst expectations.


BHP trims petroleum guidance

Angela MacDonald-Smith BHP Billiton has cut its guidance for full-year output of oil and gas, due to the sale of a field in the UK and well remediation work in the Hawkville field in the Eagle Ford shale region of southern Texas.


BHP bullish on iron ore production


PETER KER BHP Billiton has increased full year iron ore guidance by 5 million tonnes, in a move that will surpass even the most optimistic expectations that were held by analysts.


Rio chief tight-lipped on Ranger mine

Rio Tinto's Chief Executive Iron Ore Group Sam Walsh.

Peter Ker Rio Tinto chief executive Sam Walsh has refused to guarantee that his company will cover the cost of rehabilitating the Ranger uranium mine near Kakadu, building on uncertainty that was created last month by the Rio subsidiary in charge of the mine.


Banks overlook delays to boost Rio Tinto expansion in Gobi

Workers prepare the site of the second mineshaft to be sunk at Oyu Tolgoi in the South Gobi desert in Mongolia

PETER KER Banks supporting Rio Tinto's expansion in Mongolia look set to forgive ongoing delays.


Aurora takeover offer 'fair and reasonable'


Angela Macdonald-Smith Baytex Energy’s $C2.6 billion ($2.5 billion) takeover offer for Texas shale-focused Aurora Oil & Gas looks set to proceed after an independent expert hired by the target deemed it “fair and reasonable” and in the best interests of shareholders.


Central Petroleum chief lauds new gas discovery

Angela MacDonald-Smith Central Petroleum managing director Richard Cottee has hailed a new gas discovery in the south of the Northern Territory as a potential answer to the gas supply crisis looming in New South Wales.


OZ Minerals maintains copper production

A truck hauling zinc ore at Oz Minerals Century Mine in Lawn Hill, far north Queensland, is seen in this undated handout photograph released to Reuters on December 30, 2008. Oz Minerals, the world's second-largest zinc miner, has been given an extra two months to work out a deal to refinance $560 million in bank debt as it struggles with falling revenues from collapsing metals prices.   REUTERS/OZ Minerals/Handout     (AUSTRALIA) QUALITY FROM SOURCE.  FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS.

OZ Minerals' copper production in the first quarter of 2014 is in line with the previous quarter, while gold production fell.


Padbury $6b investor remains a mystery

A media tour stops at the mouth of the Oakajee River, the northern border of Oakajee Port & Rail Pty's proposed iron ore port and rail project, in Geraldton, Western Australia, on Friday, June 19, 2009.

PETER KER The mining junior that claimed to have sourced $6 billion worth of funding from a mystery backer has broken its promise to reveal full details of the money this morning.


Rio Tinto's iron ore production hit by weather

An undated handout photo released by BHP Billiton on February 9, 2012 shows iron ore being trucked out of the open cut mine at Mount Newman in Western Australia. BHP Billiton announced a 5.5 percent fall in first-half profits to USD 9.94 billion on February 8 while rival mining giant Rio Tinto will announce their full-year results on February 9.  --- EDITORS NOTE --- RESTRICTED TO EDITORIAL USE MANDATORY CREDIT  NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS   AFP PHOTO / HO / BHP Billiton

PETER KER Rio Tinto's iron ore production has fallen short of some expectations, with the miner producing 66.4 million tonnes of iron ore from its global operations.


BHP, Rio join campaign against OECD limits on profit-shifting

A woman gestures in front of a BHP Billiton sign during a h

GEORGIA WILKINS Mining giants join tech firms to lobby against efforts to stop shifting profits offshore.


Las Bambas sale expected to be the trigger for more deals


PETER KER Glencore Xstrata's $US5.85 billion Las Bambas project expected to trigger several deals.


Security of supply vital in gas exports

Natural gas is flared at the Handy Gas Unit #1, a Pioneer Natural

Angela Macdonald-smith and Simon Evans Security of gas supply uppermost on minds of decision-makers in Asia: Santos boss.


Gold stocks back in vogue

The price of gold has bounced about 10 per cent so far this year.

JARED LYNCH Gold stocks are back in vogue, but doubts linger about how much further the rally can go.


Yancoal suffering under 'take or pay' contracts


PETER KER Another Australian coal miner has revealed it is suffering under its ''take or pay'' rail and port contracts, with Yancoal the latest to concede that it took on far more rail capacity in the boom times than it needs today.


Melbourne-based miner MMG buys Glencore mine for $6.2b


PETER KER A Melbourne based miner is the focus of the global mining industry this morning, after Chinese-owned miner MMG finally completed the $US5.85 billion ($6.22 billion) purchase of Glencore Xstrata's Las Bambas mine.


Cash-starved junior explorers tempted by 'dubious' offers

Cadia Hill Gold and Copper Operation at Orange run by Newcrest Mining

Amanda Saunders, Tim Binsted Firms dressing themselves up as private equity are targeting vulnerable junior explorers.


Mystery backer in Oakajee revival

A media tour stops at the mouth of the Oakajee River, the northern border of Oakajee Port & Rail Pty's proposed iron ore port and rail project.

Peter Ker, Amanda Saunders A tiny mining company has $6 billion worth of questions to answer after a bizarre trading day.


Penrice Soda goes into administration

ROBERTS, 080819 BRW PICTURE BY DAVID MARIUZ. Guy Roberts CEO of Penrice, on location at Osborne Adelaide.

Angela Macdonald-Smith Struggling soda products producer Penrice Soda Holdings has fallen into administration after attempts to restructure the business and its finances fell through.


ASX asks Padbury to explain $6b Oakajee mystery deal

A media tour stops at the mouth of the Oakajee River, the northern border of Oakajee Port & Rail Pty's proposed iron ore port and rail project, in Geraldton, Western Australia, on Friday, June 19, 2009.

PETER KER Regulators at the ASX have forced Padbury Mining to explain its mysterious $6 billion deal to revive the Oakajee Port and Rail Project.


'Invisible investor' backs Padbury's $6b Oakajee revival

PETER KER Investors have shown interest in a highly unusual $6 billion equity deal this morning that is being spruiked by junior miner Padbury Mining.


Mining services reject chance to present at annual Diggers & Dealers talkfest


Amanda Saunders Colourful annual mining conference Diggers & Dealers has abandoned an attempt to broaden the event to include mining services companies for the first time.


Nickel the new market star

Queensland Nickel Pty Ltd. employee Mark Snith, a process techinican works at the roaster coolers at the company's Yabulu Refinery in Townsville, Queensland, Australia, on Wednesday, April 7, 2010. The number of workers in Australia's mining industry almost doubled to 174,500 in the three months through February from 94,900 in the same period in 2003, according to estimates from the statistics bureau. Photographer: Eric Taylor/Bloomberg *** Local Caption *** Mark Snith

PETER KER Nickel's transition from laggard to market darling is continuing apace, with a perfect storm of factors driving positive sentiment for the metal.

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Nina Hendy

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