Mining & Resources


Queensland Nickel administrators face huge task

Clive Palmer's nickel refinery outside  Townsville.

Melissa Grant   ​Administrators of Clive Palmer's troubled nickel business are facing a large and complicated task to determine whether its north Queensland refinery and hundreds of jobs can be saved.

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BlueScope upgrades profit forecast to $230m

BlueScope Steel says the stronger performance has been driven largely by earlier delivery of cost reductions, growth in ...

Tim Binsted   Worker concessions and 500 job cuts at BlueScope's Port Kembla steelworks have underpinned a massive $50 million lift in the steelmaker's half-year earnings expectations to $230 million.

Cost-cutting paying off: BHP Olympic Dam boss

BHP Billiton is pursuing a slow and steady expansion.

Simon Evans   BHP Billiton's boss of the OIympic Dam mine, Jacqui McGill, says overall costs can be pruned by a further 10 to 15 per cent using new heap leaching technology which requires another three to five years of testing work, but there will be no revival of any grand $30-billion expansion plan.

Gold posts biggest one-day gain in 7 years

Bullion has climbed 18 per cent this year, making it the best-performing commodity.

Eddie van der Walt and Joe Deaux   Gold has climbed 18 per cent this year, making it the best-performing commodity. It just posted its biggest intraday advance in seven years.

Another reason why bank stocks are getting hammered

Here's another reason why bank stocks are getting hammered.

Sofia Horta e Costa and Blaise Robinson   When it comes to the global selloff in bank stocks, there's a big elephant in the room: The oil nation's grip on financials.

Glencore 4th-Qtr copper output falls 6pc

Billionaire CEO Ivan Glasenberg has scrapped Glencore's dividend payments and sold new shares to rein in debt.

Agnieszka de Sousa   Glencore's copper production fell last year after it suspended output from mines in Africa following a plunge in prices.

Virgin weather a bit of turbulence

Elizabeth Knight.

Elizabeth Knight   Two words that Virgin Australia boss John Borghetti doesn't want to hear: Bali and hedging.

Rio dumps dividend policy

Rio Tinto chief executive Sam Walsh is considering squeezing the dividend

Peter Ker   Rio Tinto has dumped its dividend policy and says returns will match performance in future years

Elizabeth Knight

Rio Tinto pulls its head out of the sand

Elizabeth Knight.

Elizabeth Knight   ​Thursday's profit announcement from Rio Tinto will have to go down as one of corporate comic farce.

Worst is still ahead for the mining industry

This year may become the worst yet with prices trending lower for longer, according to Anglo American chief Mark Cutifani.

Jesse Riseborough, Kevin Crowley and Andre Janse Van Vuuren   When you find yourself in a hole, the saying goes, stop digging. A simple lesson that arguably has bypassed the global mining sector.

Mining sector has yet to reach bottom

This year may be the worst yet with prices trending lower for longer, according to Anglo American chief Mark Cutifani.

Jesse Riseborough, Kevin Crowley and Andre Janse Van Vuuren   When you find yourself in a hole, the saying goes, stop digging. A simple lesson that arguably has bypassed the global mining sector.

MMG mine to boost Peru's copper output

Melbourne-based MMG plans to reach full production at Las Bambas in the second quarter.

Peru is likely to surpass China as the world's second-largest copper producer as MMG ramps up output at its Las Bambas mine.

Gina Rinehart takes control of Roy Hill

Gina Rinehart October 2015

Julie-anne Sprague   Hancock Prospecting's Roy Hill iron ore company has taken control of the Pilbara operation from head contractor Samsung C&T, which has suffered heavy losses developing the mine, rail and port.

RBC picks BHP over Rio

RBC prefers the Andrew Mackenzie-led BHP Billiton.

Amanda Saunders   It's not every day you see analysts initiate coverage on BHP Billiton or Rio Tinto.

OZ Minerals profits soars

OZ Minerals boss Andrew Cole said the good times should continue into 2016.

Peter Ker   Rising profits have allowed OZ Minerals to boost dividends.

CIMIC stock rallies 9pc on strong profit outlook

CIMIC chief executive Marcelino Fernandez Verdes is chasing M&A opportunities

Jenny Wiggins   CIMIC, the construction group formerly known as Leighton, said it may start arbitration with energy giant Chevron over its troubled Gorgon jetty project as it reported a 23 per cent fall in annual net profit to $520.4 million.

Mining services' life support running out

This year is shaping as a tipping point that will see company collapses increase, insolvency and deal experts say.

Amanda Saunders   This year is shaping as a tipping point for Australia's mining services sector, with company collapses and insolvencies set to increase, industry experts say.

Tinkler comeback on the brink

Allegedly funded pamphlets: Nathan Tinkler.

Brian Robins   A pall has been cast over the comeback plans of former rich lister Nathan Tinkler as he seeks to appeal against a bankruptcy ruling made Tuesday morning.

Worker trapped underground at Newcrest mine

A worker is trapped underground at the Gosowong mine.

Peter Ker   A miner is trapped 300 metres underground at one of Newcrest's mines.

Tinkler declared bankrupt over jet sale

Nathan Tinkler has been fighting since mid-last year to stave off the bankruptcy claim from GE Commercial.

Brian Robins   Controversial businessman Nathan Tinkler has been declared bankrupt over funds owed from the sale of his luxury jet, although the ruling has been stayed pending a possible appeal.

Gutnick loses $57m fertiliser fight appeal

Joseph Gutnick and his company Legend International Holdings have been ordered to pay $56 million.

Sarah Danckert   Melbourne businessman "Diamond Joe" Gutnick and his company Legend International Holdings are on the hook for $US40.4 million ($57.1 million) plus interest to a collective of thousands of Indian farmers after losing an appeal against orders they hand the money over. 

Gold tops $US1200 on safe-haven allure

Spot bullion climbed as much as 2.3 per cent to $US1200.97 as of 2.02pm in New York.

Joe Deaux   Gold prices topped $US1200 an ounce for the first time since June as economic malaise boosts demand for the metal as a store of value.

Newcrest's Golpu partner refusing to give up

Newcrest Mining and Harmony Gold are expected to push ahead with development of the Golpu mine.

The market thinks Harmony Gold can't afford to build the Golpu mine with Newcrest, but the company is refusing to give up.

Rio Tinto axes more senior jobs

Rio Tinto's shares closed higher on Monday at $42.53.

Peter Ker   The man at the helm of Rio Tinto's booming bauxite division has left the company as job cuts continue.

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Whitehaven can't combat falling demand for coal: Macquarie

Whitehaven Coal is at risk of falling out of the benchmark S&P/ASX200 index, Macquarie analyst Andrew Hodge warns.

To mangle an old real estate cliche, Whitehaven Coal might be the best house, but the street is not even worth walking down, Macquarie seems to imply.

Qld mines in battle for survival: QRC

A study commissioned by the Queensland Resources Council found a third of Queensland coalmines were running at a loss.

The Queensland government must help prop up the state's ailing coalmines or risk losing thousands of jobs, a lobby group says.

Rio Tinto set to slash dividend

Rio Tinto chief executive Sam Walsh has previously said the dividend policy is a matter for the board.

Amanda Saunders   Rio Tinto is expected to slash its $US4.1 billion ($5.8 billion) annual dividend payout as early as August.

Miners marching home to the UK and Ireland from WA resources downturn

Geology is one of the key fields experiencing a downturn as contraction in the mining industry bites.

Jon Yeomans   Many of the British workers drawn to a lucrative industry in Australia have been forced by job cuts to return, writes Jon Yeomans

Norway fund asked miners to mull coal demergers

The Norwegian sovereign wealth fund has not named the miners it has asked to consider spinning out coal assets, but the ...

Norway's influential sovereign wealth fund wants mining companies to consider spinning out coal assets.

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More pain to come as nickel downturn bites

Australian nickel operations, including Clive Palmer's Queensland Nickel, have fallen victim to the sustained downturn ...

Tess Ingram   Kambalda celebrates 50 years as a nickel mining town this year, but it will be a melancholy celebration as the industry faces the most challenging conditions experienced in more than a decade.