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Mining & Resources
Amanda Saunders 12:15am Rio Tinto could emerge ahead of ANZ as the biggest creditor in collapsed mining services firm Forge Group, with the mining giant lodging court action claiming it is owed $205 million on top of $100 million in bank bonds it called in last year after the contractor went under.
PETER KER 12:15am Andrew ''Twiggy" Forrest has called the bottom of the cycle for minerals development, and vowed to create a new venture to collect abandoned and undeveloped mineral projects across Australia.
PETER HANNAM Efforts will resume this week to make public documents and comments by a Queensland whistleblower about the controversial approval process involving two giant coal seam gas projects worth almost $50 billion.
PETER HANNAM Leaked reports show that mining companies have prepared plans for as many as 16 new or expanded coal mines in the NSW Upper Hunter Valley.
PETER KER The downturn in the Australian coal industry has deepened, with three big mining companies warning on Friday that more jobs will be cut.
Benjamin Purvis Woodside Petroleum Ltd., Australia's second- largest oil and gas producer, has borrowed $1 billion via its biggest-ever bond sale as it acquires gas assets.
PETER KER The downturn in the Australian coal industry has deepened, with three major mining companies warning on Friday that more jobs will be cut, mines will close and assets will be written down to a shadow of their former value.
PETER KER Swiss miner Glencore is set to permanently cut production from its Australian coal mines in a move that could jeopardise close to 100 local jobs.
Amanda Saunders Glencore is slashing its Australian coal production by about 15 per cent, hot on the heels of running a three-week blanket shutdown across its operations at Christmas, aiming to "match current market demand". Glencore chief Ivan Glasenberg has said the group is "not prepared to canibalise our own revenue for sake of volumes".
PETER KER Rio Tinto chief executive Sam Walsh has reduced the size of his executive ranks as part of a restructuring of the Anglo-Australian miner announced this morning.
Amanda Saunders Rio Tinto is poised to cut several hundred jobs from its iron ore division in Western Australia, and merge its copper and coal divisions in a move that will see coal chief Harry Kenyon-Slaney leave the company.
PETER KER Brazilian miner Vale has written down the value of its Australian coal mines for the second time in the space of a year, further demonstrating the depressed market conditions in the local coal sector.
BRIAN ROBINS Hard on the heels of Santos's decision to slash the value of its coal seam gas project in Narrabri in the north-west of NSW, its partner in the project, EnergyAustralia, has followed suit.
Michael Heath and Enda Curran China's economy looks headed for a soft landing. At least that's what BHP Billiton and Australia's central bank chief Glenn Stevens are signaling 5,600 kilometres away. While China's growth has slowed, the best estimate of Aussie exporters and policy makers is that housing demand from the migration of rural Chinese to cities will help avert an abrupt further slump in expansion.
Angela Macdonald-Smith PetroChina has blamed overly strict regulations on compliance and environmental protection for derailing a $20 billion-plus LNG project in Queensland.
PETER KER Alcoa's Australian joint venture partner says its energy costs rose after the carbon tax was repealed.
MARK MULLIGAN Oil and natural gas producer Oil Search has rewarded shareholders with a special dividend of 4¢, for a total 12¢ a share payout,
MAX MASON The price of iron ore for immediate delivery at the port of Qingdao in China slumped 1.7 per cent to $US62.94 a tonne, close to the low of $US61.20 it hit early this month.
BRIAN ROBINS Despite heavy valuation losses and a forecast of no second half earnings uplift, contract driller Ausdrill has declared a 1c a share interim dividend, as it looks to fiscal 2016 for any earnings improvement.
PETER KER BHP Billiton has revealed a 29 per cent decline in the cost of producing iron ore in Australia over the six months to December 31.
Amanda Saunders Iron ore heavyweights BHP Billiton and Rio Tinto could hammer production costs to less than $US15 a tonne within 18 months, as BHP chief Andrew Mackenzie warned this week that depressed iron ore prices are here to stay.
Angela Macdonald-Smith AWE has dived to a $61.7 million first half loss, with hefty asset write-downs due to the drop in oil prices mostly to blame.
Vanessa Desloires Heavy writedowns have hit mining contractor Macmahon Holdings profits, posting a loss of $112.5 million and causing it to revise its full-year forecast for the second time.
Angela Macdonald-Smith APA Group, the country's biggest gas transporter, has almost quadrupled its net profit for the December half thanks to gains from the sale of its stake in gas distributor Envestra.a.
Tess Ingram and Anthony Macdonald Seven Group chief executive Don Voelte is not banking on a short-term improvement in commodity markets but believes the company's bottom of the cycle investments put it in a good position to benefit from an inevitable recovery.
Amanda Saunders Rio Tinto boss Sam Walsh says investors are not taking Glencore’s ambitious advances on a merger with the iron ore giant seriously because anti-trust authorities are “simply not going to let it happen”.
Angela Macdonald-Smith Landfill gas and clean energy provider Energy Developments has lifted its dividend for the December half despite posting a 6 per cent slide in half-year net profit to $19.5 million.
President Barack Obama on Tuesday swiftly delivered on his vow to veto a Republican bill approving the Keystone XL oil pipeline from Canada, leaving the long-debated project in limbo for another indefinite period.
PETER KER Most of the assets bound for BHP's demerger are showing improved performance
PETER KER BHP Billiton has assured shareholders they will enjoy higher dividend yields as a result of the company's looming demerger, but has given little sign of launching into a round of share buybacks before the end of 2015.