Mining & Resources


Tinkler returns to the corporate scene along with pearl king Paspaley

Nathan Tinkler is expected to join Orca Energy's board as executive chairman after the placement

Colin Kruger 12:29 PM   Prodigal boganaire Nathan Tinkler has well and truly returned to the Australian corporate scene,with oil explorer Orca Energy announcing he will be its new executive chairman.

Andrew Forrest says Baosteel joint venture 'not on the table'

"There is no talk anywhere of doing Stage 2. Stage 2 is not on the table from Formosa, Baosteel or Fortescue.": Fortescue chief Andrew Forrest.

Peter Ker 9:26 AM   Fortescue Metals Group chairman Andrew Forrest says a $US1.24 billion expansion of the miner's "Iron Bridge" joint venture with two Asian steel giants is "not on the table", despite it originally being slated to start in 2015.

Fortescue growth world's 'most prolific': BHP iron ore boss

BHP iron ore president Jimmy Wilson has described Fortescue as being the "world's most prolific iron ore growth story".

Julie-anne Sprague 9:13 AM   BHP Billiton iron ore president Jimmy Wilson has accused Fortescue Metals Group of being "the world's most prolific iron ore growth story" in a memo to more than 11,000 employees.

Norway request for miners to dump coal shows climate fears are on the rise

BHP Billiton likely to be among companies given a warning by Norway.

Jesse Riseborough and Mikael Holter 8:21 AM   ​The world biggest sovereign wealth fund's decision to ask top companies about the possibility of spinning off coal assets may put miners like BHP Billiton in a sweat.

Fracking chemicals found in Pennsylvania drinking water

The Fracking fluid found will be closely examined.

NICHOLAS ST. FLEUR 1:10 AM   ​An analysis of drinking water sampled from three homes in Bradford County, Pennsylvania, revealed traces of a compound commonly found in Marcellus Shale drilling fluids, according to a study published Monday.

Contractor dispute at Rinehart's Roy Hill mine heats up

Despite contractor disputes and a string of safety incidents, Gina Rinehart's Roy Hill says construction is more than 80 per cent complete.

Tess Ingram 8:27 PM   NRW Holdings is digging in its heels in its payment dispute with Samsung C&T, issuing the South Korean construction giant with notices of dispute under its $620 million contract at billionaire Gina Rinehart's Roy Hill mine.

Albanese's Vedanta eyes return to India iron ore exports

The Riversdale acquisition famously led to the sacking barely two years laterof former chief executive Tom Albanese, when the assets were impaired by $US3 billion dollars.

Amanda Saunders 12:15 AM   Former Rio Tinto chief executive Tom Albanese says his new business, Indian mining giant Vedanta Resources, is gunning to re-start iron ore production as soon as October, after India last week cut its duties on lower-grade exports of the commodity.

Volatility helps Fortescue claim Telstra's trading crown

Andrew Forrest's Fortescue has had some rocky times recently.

Peter Ker 2:04 PM   Fortescue is set to claim Telstra's mantle as the most traded stock by volume on the ASX, while CBA is closing in on BHP's claim to be the most traded stock by value.

'Good time' for BHP, Rio to cash in on low rates

Aberdeen is a firm supporter of the low-cost iron ore expansion strategies being run by the miners but will be querying their broader position on acquisitions.

Amanda Saunders 1:35 PM   One of BHP Billiton and Rio Tinto's biggest investors will call on the miners to review whether and when they plan to take advantage of their robust balance sheets to make strategic, counter cyclical investments.

Brown coal powers up to boost emissions

Ramping up: Coal's share of the market is increasing.

Peter Hannam and Tom Arup   Australia's electricity demand is picking up and, in the absence of a carbon price, pushing up the sector's emissions.

David Einhorn slams cash-burning frackers

"Pioneer is burning cash and its reserves are not growing," said Einhorn, who runs $US11 billion Greenlight Capital.

Joe Carroll and Kelly Gilblom   US shale-oil drillers plunged after money manager David Einhorn criticised the large sums of cash they burn through to frack wells.

S&P cuts BHP outlook over dividend, cash flow strain

Even if BHP's rating was cut, it would still sit within the board's target of a 'solid A' credit rating.

Amanda Saunders   Investors in BHP are unfazed by ratings agency Standard & Poor's cut to BHP Billiton's outlook to negative from stable, but the move has stirred more criticism of the miner's policy to constantly maintain or increase its dividend.

Will Rio Tinto also slow iron ore output?

Rio Tinto is cutting iron ore jobs, as it races to strip costs from its business and cement its lead as the world's lowest cost exporter of iron ore to China.

BHP Billiton and Vale have announced plans to cut or consider cutting their iron ore output. Will the other of the big three also do it?

Palmer wins court case against Chinese company

Clive Palmer has defended legal action against Chinese firm CITIC.

Amy Remeikis   Inveterate litigant and outspoken MP Clive Frederick Palmer has had a win.

Comments 10

Cascade Coal challenges ICAC report in wake of Cunneen ruling

Former Krispy Kreme Australia chief executive John McGuigan.

Michaela Whitbourn   A mining company which secured a lucrative coal exploration licence over the Obeid family's farm is pushing ahead with a legal challenge to a report which led to the licence being cancelled, in an apparent bid to win compensation from the state government.

Carbon pledges to fall short of warming goal, Stern warns

China's emissions may peak earlier than expected.

Peter Hannam   The Paris climate summit planned for the end of the year is unlikely to result in carbon emissions cuts deep enough to avoid dangerous warming, a study by Lord Nicholas Stern argues.

South32 index cash set for shift south

Since South32 was unveiled by BHP in August last year, much focus has been trained on the expected sell-down in London by index funds.

Amanda Saunders   Australian index funds will pile into a forced buy-in of hundreds of millions dollars worth of shares in South32 this month ahead of its local listing in June to satisfy their mandates, which will help counter a wave of forced selling in London.

Church of England dumps coal as fossil-fuel divestment campaign spreads

The Most Reverend Justin Welby being enthroned as Archbishop last year.

Thomas Biesheuvel   Coal mining might have dubbed by Prime Minister Tony Abbott as 'good for humanity' but apparently it isn't God's work.

BHP Billiton's decision to sack worker over goatee beard vindicated

BHP  has a clean-shave policy for all underground workers at Olympic Dam.

Simon Evans   The Fair Work Commission has ruled that mining giant BHP was legally allowed to sack an underground truck driver who refused to shave off a goatee beard and a moustache.

BHP no longer one for the 30-somethings

BHP shares have averaged $30.60 since the start of 2015.

Peter Ker   BHP shares will almost certainly fall when the South32 demerger takes place, but how far?

Comments 1

Vale gives verve to minnow miners

Vale will slow production of iron ore.

Peter Ker and Tess Ingram   Struggling Australian miners like Atlas have been given a glimmer of hope after another big miner vowed to cut exports.

'I don't understand the planning laws — and I'm the planning minister'

NSW Minister for Planning Rob Stokes wants to improve consenting regulations for mining projects.

Peter Hannam, Leesha McKenny   New Planning Minister Rob Stokes has flagged an overhaul of the way large mining projects win approval, signalling that the community will be given greater opportunity to "test the decision".

Atlas to keep mines open despite ore pain

Atlas said on Friday it is solvent and remains in compliance with its debt covenants.

Tess Ingram   Atlas Iron's key contractors have been successful in keeping the struggling iron ore miner in production at two of its Pilbara operations.

The jobs most likely to make you crave a stiff drink when the day is done


Christopher Ingraham   New data shows exactly which industries' employees drink the most, which do the most drugs, and where employees are most likely not just to use drugs, but abuse them.

Comments 5

Vale's slower growth to trigger iron ore rally

Iron ore prices have more than halved in the past year; ore for shipment to the Chinese port of Qinqdao last traded down 1.7 per cent at $US56.18 a tonne.

Peter Ker   The world's biggest iron ore exporter says it is willing to withhold exports to improve profit margins, a move that could help push iron ore above US$60 a tonne.

Vale ready to cut iron-ore output amid global glut

The price of iron ore is 71 per cent below the record set in 2011.

Juan Pablo Spinetto   Vale, the world's largest iron-ore producer, is considering cutting output from its most expensive mines amid a global supply glut.

Get your own house in order, Rio tells Forrest

"We can sell the same amount at $US100 as we could for $US50, and I am calling that behaviour into question," says Andrew Forrest.

Amanda Saunders   Rio Tinto says Andrew Forrest should get his own company in order rather than lay blame for an iron ore glut that has smashed the industry and federal budget.

FMG sackings: anxiety reigns at Fortescue mine sites

FMG workers with their belongings in plastic bags.

David Prestipino   A sacked Fortescue Metals Group worker has described the dire situation facing anxious workers as they await to learn their fate with the troubled iron ore miner.

Comments 64

US miner Cliffs 'can't wait to get out of Australia'

Iron ore mining is no longer affordable for Cliffs Natural Resources.

Peter Ker   Cliffs believes BHP, Rio Tinto and Vale cannot afford to continue growing iron ore exports.

Comments 2

Iluka Resources lobs lowered bid for Kenmare

Iluka and Kenmare operate in different spaces in the mineral sands sector.

Tess Ingram   Mineral sands producer Iluka Resources has returned with a fresh, albeit substantially lower, offer for Kenmare Resources, ten months after it first made a play for the Dublin-based miner.