Mining & Resources

 

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

<p>

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 63

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.

Seven lifts stakes in Beach, Drillsearch

Seven CEO Don Voelte is building stakes in Cooper Basin energy players

Angela Macdonald-Smith   Seven Group Holdings has further increased its stakes in both Beach Energy and smaller player Drillsearch Energy, reviving expectations that it is plotting a consolidation of oil and gas interests in the Cooper Basin.

Sirius to spend $68m on Nova in June quarter

Sirius Resources' Nova nickel-copper project is one of the few mines being developed in Western Australia.

Tess Ingram   Sirius Resources is quickening development of its Western Australian Nova nickel mine, having closed tenders for setting up power and progressing earthworks and infrastructure.

ACCC clears Forrest on iron ore cap call

Andrew Forrest's call to cap production triggered a round of name-calling from rivals, and was met with astonishment.

Amanda Saunders   ​The competition watchdog has cleared Andrew Forrest over his offer last month to cap iron ore production at the company he chairs, Fortescue Metals Group, if his rivals did the same, to trigger a price recovery.

Chairman embarrassed as Santos close to 'strike' on remuneration

Santos chairman Peter Coates said the company is aiming to be "not only viable at $US55 oil, but is competitive in any oil price environment."

Simon Evans and Angela Macdonald-Smith   Santos's board has been rapped over the knuckles by shareholders, with voting going embarrassingly close to a "strike" against the company on remuneration.

OceanaGold to pay $126m for Newmont mine

OceanaGold has agreed to pay $US101m for one of Newmont's mines.

Peter Ker   OceanaGold says it is looking at further acquisitions despite buying Newmont's Waihi gold mine overnight

Yancoal defends directors' independence

Yanzhou has made multiple attempts to buy the 22 per cent of Yancoal it does not own.

Tess Ingram   Yancoal Australia has defended the role of its independent directors after the coal miner's chairman, Li Xiyong, publicly revealed he had engineered the resignation of a "bossy" independent director.

FMG sacks workers at Pilbara mines

Forrest Port Hedland 080515 AFR pic by Erin Jonasson. Andrew Forrest, the CEO of FMG, Fortescue Metals Group, Putting the first shovel load of Iron ore onto the HENG SHAN, This is the First Iron ore on Ship heading for China out of Port Hedland for the new iron ore company.

David Prestipino   Sackings have taken place at Fortescue Metals Group, as the troubled iron ore producer begins shedding jobs to cut costs.

Comments 63

Reduced spending hits Senex Energy production expectations

Senex managing director Ian Davies told investors that the priority was to protect the balance sheet.

Angela Macdonald-Smith   Slashed investment after the plunge in oil prices has caused Cooper Basin oil and gas player Senex Energy to cut its full-year production guidance, driving its share price down.

Comment

Forrest recruits high-profile broadcaster in iron ore wars

Andrew Forrest may be playing the 'national interest' card, but his campaign is also deeply personal – his wealth is largely tied up in Fortescue, which draws all its revenue from iron ore.

Amanda Saunders   Andrew Forrest has landed a new recruit in his epic attempt to win the escalating iron ore wars – high-profile broadcaster Alan Jones.

Hunter Valley may become home to 21 new coal mines

Mike Baird at Drayton South Mine project site in Drayton.
Photo : Marina Neil /Fairfaxmedia

Peter Hannam   The Baird government may have to decide on as many as 21 new coal mines or expansion projects in the Hunter Valley in coming years, juggling competing interests from other industries and local communities squeezed by the growth.

Investors prepare to hold tight on South32

South32 CEO Graham Kerr is on a four-day roadshow this week to sell the merits of its key Australian assets.

Amanda Saunders   Shareholders are taking a wait-and-see approach before deciding their next move on the spin-off.

Where to next for the iron ore price?

"The seaborne market is doomed, is cursed, is a place not to be in. I can't wait to get out of Australia." Cliffs chief Louranco Goncalves.

Iron ore rose to its highest level since March last night at $US59.09. We ask the experts where it is heading.

Adani to create 1464 jobs, not 10,000

Adani's Carmichael mine would be Australia's biggest.

Jorge Branco   Mining giant shrugs off accusations it exaggerated number.

Comments 18

Greens propose deep emissions cuts for post-2020

Bayswater Power Station in the Hunter Valley

Peter Hannam   With climate change accelerating, Australia - and the rest of the world - need to aim for deep emission cuts, the Greens say in revealing their post-2020 targets.

EY calls GRAM offer for PanAust 'neither fair nor reasonable'

PanAust has confirmed it has hired an external adviser to review a tax issue raised by the Lao government.

Peter Ker   EY finds that a $1.71 per share offer for PanAust falls short of fair value for the stock.

BHP Billiton reveals minuscule Singapore tax bill as ATO chases it for $500m

The ATO says BHP Billiton owes $500 million in unpaid taxes and fines.

Heath Aston   BHP Billiton has revealed the true extent of its sweetheart deal with tax authorities in Singapore and acknowledged that the Australian Tax Office is chasing it for $500 million in unpaid taxes and fines in relation to the so-called "Singapore sling".