Mining & Resources

 

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 12:15 AM   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 8:02 PM   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.

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 2:52 PM   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.

China seeks to cut coal capacity by 1b tons

The world's largest coal consumer aims to eliminate as much as 1 billion metric tons of output capacity in three to five ...

Bloomberg News   China plans to chop as much as 17 per cent its coal production capacity to cut overcapacity and use cleaner energy sources amid sliding demand for the fuel.

Iron ore extends rally, outlook unchanged

The commodity has rebounded 19 per cent since bottoming at $US38.30 in December, the lowest for daily prices dating back ...

Jasmine Ng   Iron ore, dogged for years by rising supply and soggy demand, went on a tear ahead of China's Lunar New Year break.

Debt cloud hangs over solid first half for Whitehaven Coal

Whitehaven expects its financial position to continue improving over the next three years.

Tess Ingram   Whitehaven Coal has delivered on its promise to return to profit in the first half of the financial year despite challenging conditions in the coal sector.

BHP's ratings future in its own hands: S&P

S&P recently cut BHP's long-term credit rating from `A+' to `A' and warned it could be lowered further if the company ...

The mining giant can defend its credit rating by scrapping its controversial progressive dividend policy, ratings agency Standard & Poor's says.

'We should all fear Oilmageddon'

Traders of crude oil and natural gas: A global recession, triggered by lower commodities prices, would leave nowhere to ...

Tracy Alloway   Markets are in a well-oiled "death spiral," analysts at Citigroup say.

Dipping $US throws investment strategies out window

The commodities' slump has hit the big miners hard.

The gyrations in mining stocks after the US dollar declined and commodity prices rose has some seeing recovery. That talk comes too early.

Port Hedland iron ore cargoes slowed by weather

China-bound cargoes dropped to 28.91 million tons from 32.17 million in December.

Jasmine Ng   Iron ore shipments from Port Hedland declined in January after loadings were disrupted by bad weather.

Why nervous bankers could spark mining deals in 2016

Coal is tipped to be hot for deals in Australia this year.

Amanda Saunders   Growing financial stress in the mining sector will trigger an increase this year in divestments, spin-offs, joint ventures and possibly hostile takeover bids, while restructuring will drive M&A.

Has Adani pushed pause on giant coal project?

Adani

Unconfirmed reports claim that Adani may not invest further cash into the Carmichael project until coal prices improve.

South32 shake-up cuts hundreds of jobs

South32 boss Graham Kerr has revealed his 'strategy to maximise value rather than volume'.

Miner South32 has warned Australian jobs will go as it moves to cut costs worldwide.

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Downer CEO says Broadspectrum assets could be 'great' fit

Downer EDI chief executive Grant Fenn is watching the outcome of Ferrovial's bid for Broadspectrum.

Jenny Wiggins   Downer EDI chief executive Grant Fenn has revealed Ferrovial target Broadspectrum owns assets that would be a "great" fit with the engineering contractor.

Samarco deal seen within days, says Brazil

The November 5 dam collapse released billions of gallons of tailings sludge into communities and waterways in what the ...

Anna Edgerton and Carla Simoes   BHP Billiton and its partners are expected to "shake hands" this week with Brazil on an agreement to pay for damages from a tailings dam burst.

Iron ore price pressures to rise, says Goldman

The projected loss of steel output from the capacity cuts will likely put "further downward pressure on an iron ore ...

David Stringer and Jasmine Ng   Iron ore prices may face additional pressure as China steps up efforts to cut back local steel capacity, according to Goldman Sachs.

BHP dividend 'tweak' won't cut it: S&P

BHP chairman Jac Nasser has a big decision to make.

Peter Ker   A small 'tweak' to BHP's dividend will not be enough to avoid another credit rating downgrade, Standard & Poor's says.

'Long road' before Adani mine approval: Minister

Queensland Mines Minister has poured cold water on the suggestion Adani's Galilee Basin coal mine will receive approval ...

Amy Remeikis   The Queensland government has hosed down suggestions it is about to approve a mining lease for Adani's Carmichael project, with Mines Minister Anthony Lynham warning there was still a long road to go.

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'Investors may bail out Palmer' as more sackings loom

Clive Palmer during question time at Parliament House in Canberra on Wednesday 14 October 2015. Photo: Andrew Meares

Amy Remeikis   International investors may be one answer to Queensland Nickel's current woes, Treasurer Curtis Pitt said, as Clive Palmer flagged another 10 per cent of the refinery's workforce may lose their jobs.

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Why BHP, Rio fear Bernie Sanders

Big Australian miners will be cheering for Hillary Clinton in the US presidential race.

Peter Ker   Rio Tinto and BHP have a bit to lose if Bernie Sanders beats Hillary Clinton in the race for the Democratic nomination.

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Australia export earnings in hole as commodities crater

The iron ore slump has left its mark on Australia's trade balance.

Wayne Cole   As iron prices slide, the nation's trade deficit blew out to a record $32.7 billion last year.

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Global miners slide in wake of BHP downgrade

In London, Anglo American fell 7.99 per cent, Glencore lost 5.5 per cent and Rio Tinto tumbled 4.63 per cent. BHP shed ...

Luzi Ann Javier   Mining shares retreated for a second straight day, triggered by BHP Billiton's credit rating downgrade.

China leadership driving steel output cut

China's leaders have vowed to reduce excess capacity in state enterprises including steel.

Jasmine Ng   Steel production in China will extend declines this year as the country's top leadership has endorsed a concerted push to cut overcapacity.

Gina Rinehart to hand over secret documents

Gina Rinehart: No longer Australia's richest person after the iron ore slump.

Marianna Papadakis   Gina Rinehart's eldest children Bianca and John have won access to secret documents from their mother.

BP suffers worst net loss in 30 years

Profit has been lower year-on-year for six consecutive quarters as oil prices tumbled.

Rakteem Katakey   BP reported a 91 per cent decline in fourth-quarter earnings after average crude oil prices dropped to the lowest in more than a decade.

BHP must cut dividends to avoid more downgrades

BHP Billiton is enduring one of its toughest years but is determined to maintain a 'solid A credit rating'.

Peter Ker   BHP is risking further credit downgrades if it keeps its dividend policy, says Standard & Poor's.

Fletcher makes belated push into infrastructure

Fletcher Building is expanding into road maintenance with the purchase of Higgins.

Brian Robins   Fletcher Building is making a belated push into the infrastructure market by using funds raised from the sale of quarry assets to largely fund an expansion into road construction and maintenance in New Zealand and the Pacific islands.

ANZ calls copper bottom

ANZ says if power grid spending in China rises it will boost copper prices.

Stephen Cauchi   Copper has just come off lows not seen since 2009 - and ANZ is calling the bottom.

Iron ore price approaches Roy Hill's threshold

Gina Rinehart's Korean joint-venture partner has revealed the iron ore price needed for the company to break even.

Peter Ker   Gina Rinehart's Roy Hill mine is marginal at current iron ore prices, according to one of Mrs Rinehart's partners in the project.

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