JavaScript disabled. Please enable JavaScript to use My News, My Clippings, My Comments and user settings.

If you have trouble accessing our login form below, you can go to our login page.

If you have trouble accessing our login form below, you can go to our login page.

Mining & Resources


Plunging oil price could trigger next GFC

MARK MULLIGAN 8:02am The falling oil price will place stress on the global junk bond market, experts say, with US energy companies at increasing risk of default.


Its grip on oil weakening, OPEC is split on prices

Is OPEC's control of the oil market coming to an end?

6:15am As oil prices continue to plummet, the once-dominant international cartel of producers is losing its sway over the global energy markets. OPEC is caught in a swirl of forces that are depressing prices and its muscle, namely its control over one-third of the world's oil production, is not enough to fight them.


Iron ore continues slide, falls below $US69

A property slump and slowdown in investment growth put China, the biggest buyer, on course for the weakest full-year growth since 1990.

Jasmine Ng 5:49am Iron ore extended a retreat below $US70 a metric ton to the lowest level in more than five years as global supplies of the steel-making raw material are poised to swell just as economic growth in China is slowing.


Coal not the panacea for poverty


STEPHEN CAUCHI 4:11pm Cheap coal-fueled electricity is touted by miners and politicians as a way out of poverty for developing nations, but apparently Africa hasn’t been listening.


New mining projects at 10-year low

Declining commodity prices have slowed mining investment.

12:58pm The number of Australian resources projects reaching financial commitment has fallen as sagging minerals and energy prices lead companies to tighten their belts.


Karoon Gas shares surge on oil discovery

Karoon shares, which had been halted on Monday ahead of the drilling result, rose as much as 29¢ to $3.23, a five-week high.

Angela Macdonald-Smith 11:46am Karoon Gas shares have surged back after a trading halt, rising as much as 10 per cent on the back of a bigger than anticipated oil column found at its latest well drilled offshore Brazil.


Santos slashes costs in oil price slump

The lower oil prices, if they persist, will eat into Santos’s forecast surge in cash flows as a result of the huge boost to LNG production from its Queensland and Papua New Guinea projects.

Angela Macdonald-Smith 11:09am Santos chief executive David Knox says the oil and gas producer is "relentlessly" pursuing cost cuts and reining in capital investment in response to the faster than expected drop in crude oil prices.


Expect iron ore prices to stay weak for longer, says ex-Rio boss Tom Albanese

Amanda Saunders Former Rio Tinto chief Tom Albanese says weak iron ore prices are here to stay for longer than expected and “volatility is the new normal”, as iron ore sank below $US70 a tonne overnight Tuesday for the first time in five years.

Glencore readies for Rio Tinto round two

Seconds out: Glencore chief executive Ivan Glasenberg is readying for round two with Rio Tinto.

Amanda Saunders Glencore chief executive Ivan Glasenberg’s second attempt to force a merger with Rio Tinto will involve an attack on Sam Walsh over dwindling hopes of substantial capital returns, as he tries to win the support of Rio’s biggest shareholder, Chinese giant Chinalco, analyst Paul Gait believes.


Steel lift won't last unless Asia picks up China's slack

China exported 8.55 million tonnes of steel products in October.

MAX MASON China’s surprise interest rate cut announcement may not be enough to stimulate the country’s ailing residential property market and boost its economy, analysts say.


Peabody, Glencore to combine Hunter Valley coal mines

Glencore and Peabody plan join forces to cut production costs.

BRIAN ROBINS Peabody Energy and Glencore have agreed to form a joint venture at two neighbouring mines in Australia's Hunter Valley, in a bid to slash costs amid a slump in coal prices.


'Green horizon' may force BHP to quit coal, says Andrew Mackenzie

Indian company Adani wants to build one of the country's biggest coal mines in the Galilee Basin.

PETER KER Mackenzie says BHP would invest in other commodities if the world moves quickly to a "green horizon"


Oil slump threatening Australia's energy exports

Oil prices are expected to tumble further if OPEC member countries, chiefly Middle Eastern oil exporters, cannot agree to cut at least 1 million barrels per day to help arrest a further supply glut that is putting downward pressure on prices.

Bianca Hartge-Hazelman Analysts say predictions of a slide in oil prices to as low at $US50 a barrel could seriously hurt Australian energy exports, amid growing doubts over whether OPEC members can get past their issues and agree on a global output target this week.

Arrium puts faith in grinding media's future

Arrium chief executive Andrew Roberts.

Tim Binsted Arrium chief executive Andrew Roberts said a partial mothballing of his iron ore operations remains a possibility as he urged investors to look past the under-fire mining business at the growth potential in grinding media.

Yancoal raising stoush coal


PETER KER A Hong Kong hedge fund has asked the takeovers panel to block Yancoal's $US2.3 billion equity raising

BHP Billiton promises further cost cuts

BHP said it was

PETER KER BHP Billiton has vowed to push harder on spending cuts and productivity gains, but analysts don't believe it will be enough to deliver a round of share buybacks or special dividends in February.


Iron ore miners surge after Chinese rate cut

China's housing sector accounts for a quarter of the country's steel demand.

MAX MASON China’s first rate cut in more than two years has sent shares in Australia’s iron ore miners surging higher, with the prospect of lower lending rates expected to boost the ailing housing construction sector in the world’s second largest economy.


Gina Rinehart slams 'negativity' regarding mining industry

Angela Macdonald-Smith Gina Rinehart has attacked the “negativity” she says the mining industry is regarded with, considering Australia couldn’t “survive” without it.


BHP cuts coal costs, says outlook gloomy

BHP said it intends to reduce costs a further 10 per cent at its coking coal operations to less than $US90 a tonne.

BRIAN ROBINS BHP Billiton has signalled further cost reductions at its coal operations but with limited prospect of a quick turnaround in their fortunes.


Executive shake up as BHP cuts deeper

Marketing boss Mike Henry will become president of the company's coal assets

PETER KER BHP has made good on a promise to cut capital spending even further than previously thought

Germany may shut down eight more coal power plants, document shows

Germany may curb its coal demand to cut carbon emissions.

Germany is working on a new law to force energy companies to shut down several more coal-fired power plants as it tries to reach ambitious climate goals, a document seen by Reuters showed on Sunday.

Anti-CSG groups says use of radioactive materials should be disclosed


PETER HANNAM Anti-coal seam gas groups say AGL, Santos and the NSW Environment Protection Authority are keeping communities in the dark over the use of highly radioactive material in Gloucester and the Pilliga.


Alkane Resources tips share rerating on approval of $1 billion rare earths project

Key product prices are expected to rise.

BRIAN ROBINS The mining and exploration company has launched detailed engineering studies as it awaits a green light for a new project near Dubbo.

Andrew 'Twiggy' Forrest spends $11 million on Fortescue shares

Andrew "Twiggy" Forrest bought $11 million worth of shares in his Fortescue Metals Group when their value hit a five-year low this week.

Gina Rinehart pushes forward on iron ore exports despite BHP seeing end of an era

Jasmine Ng and David Stringer Gina Rinehart, Asia's richest woman, is set to start exports in September from her new $10 billion iron ore mine undeterred by prices trading near five-year lows and forecast to extend losses next year.


Shareholders strike out at remuneration as commodity boom fades

Fortescue is

PETER KER Shareholders say remuneration is out of sync with sliding commodity prices.


Port Hedland engineers accept pay deal, cancel strike

A tugboat pulls a ship at Port Hedland. Tug engineers have called off their strike.

Tug engineers withdrew plans to strike at Port Hedland, the nation's biggest iron ore port, tug operator Teekay Shipping said late Thursday, removing a threat to exports from BHP Billiton and Fortescue Metals.

BHP board mulls mitigation as prices plummet

Elizabeth Knight Dinkus

ELIZABETH KNIGHT The BHP Billiton board has a tough job on its hands, ensuring the company remains prosperous despite the fact the prices of three of the major commodities that underpin its profit performance are in free-fall.


Mineral Resources considers putting mines in mothballs

Iron ore mining.

Tess Ingram The iron ore price crunch could force Mineral Resources to put its mines on care and maintenance, managing director Chris Ellison says.

BHP struggling over coal demerger plans

Big plans: Jac Nasser says scale is the key to demerger plan.

PETER KER Chairman Jac Nasser has sought to clarify why the coal division was split across BHP and the demerger

Latest Business News

Most Searched Shares

Executive Style

Special offers

Credit card, savings and loan rates by Mozo

Small Business

Essential Guides


A free independent guide from SMH with expert information.