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Mining & Resources

Andrew 'Twiggy' Forrest needs Tony Abbott's support for his policy to work

ELIZABETH KNIGHT 3:46pm Andrew Forrest admits he doesn’t have the formal social policy qualifications that would typically be used to produce a report like his Creating Parity welfare paper.

Buyback

Woodside's shareholders reject Shell buyback

 “We have received enough votes against to mean that the transaction will not proceed unless there are a very significant number of shares to be voted here in person today in favour”: Woodside chairman Michael Chaney

Angela Macdonald-Smith 3:18pm Woodside Petroleum shareholders have rejected a proposed $US2.68 billion buyback of shares from Royal Dutch Shell.

Apache to sell Wheatstone LNG stake

Activist investor Jana Partners, which disclosed in June it had a $US1 billion stake in Apache, has urged the Houston company to exit the Canadian and Australian projects

Angela Macdonald-Smith 10:55am US oil company Apache has decided on a multi-billion dollar sell-up of non-US assets which will see it sell its stake in Chevron’s $29 billion Wheatstone liquefied natural gas project in WA.

Exit

Apache to quit Wheatstone gas project in Australia

Activist investor Jana Partners, which disclosed in June it had a $US1 billion stake in Apache, has urged the Houston company to exit the Canadian and Australian projects

7:16am US oil and gas company Apache Corp, under pressure from activist investor Jana Partners, said on Thursday it plans to sell interests in two liquefied natural gas (LNG) projects as it sharpens the focus on developing North American shale fields.

LNG

Woodside's Canada plans take shape

Woodside's planned Canadian gas plant could export more than the North West shelf project.

BRIAN ROBINS With the Woodside shareholder vote on Friday to buy back a large slice of Shell Oil’s stake in the company in the balance, it has emerged the West Australian oil and gas group has lodged plans for a multibillion dollar gas export plant in Canada, which would be able to export more gas than the giant North West Shelf project.

Indochine Mining investors lose patience and force out board

BRIAN ROBINS Interests associated with Brian Rodan's Australian Contract Mining are believed to be behind a board coup at Indochine Mining, which has been battling to develop the giant Mt Kare gold deposit in Papua New Guinea, which a Rio predecessor, CRA, famously abandoned 20 years ago.

Resources

Local miners keen to run ruler over Cliffs assets

Mining

PETER KER Two Australian miners have expressed interest in the iron ore business that American miner Cliffs Natural Resources is expected to put on the market in the near future.

Oil and gas

Proxies doom Woodside's Shell buyback

Investor muscle: Shareholders shunned a $US2.68 billion plan.

Angela Macdonald-Smith Woodside Petroleum is facing mounting pressure to instigate a share buyback for all investors as shareholders shun a $US2.68 billion ($2.86 billion) plan that would offer only Royal Dutch Shell access to franking credits.

Resources

When BHP's boss met Vladimir Putin

Strong ties: Russian President Vladimir Putin speaking to business leaders at the World Economic Forum during the global financial crisis

John Kehoe and James Chessell Before taking over the top job at BHP Billiton, Andrew Mackenzie met a world leader with enourmous influence over the global resources sector: Vladimir Putin.

Rio Tinto sells Mozambique coal assets for $US50 million

Digging for returns: Payouts from companies such as mining giant BHP helped boost the investment firm's earnings.

PETER KER Rio Tinto has washed its hands of the disastrous $3.9 billion Riversdale Mining acquisition, by announcing a sale of its Mozambique coal assets for just $US50 million.

Resources

American miner set to divest Australian iron ore

Cliffs' infrastructure may appeal to a new buyer.

PETER KER A boardroom coup could see Australian assets put in the shop window.

Resource sector spending yet to bottom

The paring down in new mining investment has reduced demand for geologists unearthing metals.

BRIAN ROBINS Pressures on companies servicing the mining and energy sector are showing few signs of easing.

Gina Rinehart says MRRT scrapping "isn't about making Gina richer"

Gina Rinehart’s $10 billion Roy Hill iron ore project in WA has reached the halfway point of construction.

Mining magnate joins with resources giants in call to drop mining tax to allow Australia to compete internationally.

Comments 23

Australian lead mining caused early Antarctic pollution

Was pristine once.

The first lead pollution in Antarctica occurred as a result of industrial emissions more than 20 years before explorers reached the South Pole, scientists have discovered.

Resources

Adani coal mine approved amid weaker prices

The proposed $16.5 billion Indian-owned Adani Carmichael coal mine project in the Galilee Basin has been given federal government approval.

BRIAN ROBINS Indian utility Adani has won environmental approval from the federal government for the proposal to proceed only a matter of weeks after it concluded plans to build the rail link for the project, even though the sustained downturn in coal prices threatens to undermine the project's viability.

Galilee coalmine approval sparks carbon fears

PETER HANNAM The federal government has approved a giant Queensland coalmine that it says will generate as much as $300 billion for the economy, but which environmental groups say will contribute to a “carbon bomb” and risk causing significant damage to the Great Barrier Reef.

Giant Galilee coal mine gets Canberra nod

Adani has big plans for Galiliee coal.

PETER HANNAM The federal government has approved a giant Queensland coalmine that it says will generate as much as $300 billion for the economy but which environmental groups say will contribute to a “carbon bomb” and risk causing significant damage to the Great Barrier Reef.

Mining

Adani's giant Galilee Basin coal mine gets federal government approval

The proposed $16.5 billion Indian-owned Adani Carmichael coal mine project in the Galilee Basin has been given federal government approval.

The federal government has approved Indian mining giant Adani's proposal to develop one of the world's biggest coal mines in Queensland.

Mining

BHP in fresh bid to unlock Olympic Dam

The Olympic Dam contains copper, gold, silver, uranium and potentially other valuable commodities.

PETER KER BHP Billiton is set to undertake a heap leaching trial at Olympic Dam in the hope it may unlock the enormous and complex ore body in the South Australian outback.

Mining

Newcrest debt delivers gold returns

Golden bonds: Newcrest's debt securities have returned 23 per cent so far this year.

Newcrest Mining bonds are delivering the best returns this year among metal producers even as the gold miner prepares for new writedowns at a floundering asset inside an extinct volcano.

Courts

Caymans court lambastes former BHP chief Brian Gilbertson

Brian Gilbertson.

BEN BUTLER Former BHP chief has been blasted for pursuing a years-long legal 'vendetta'.

Mining

$50m win for Forge creditors if challenge to APR succeeds

Amanda Saunders It has been strangely quiet on the Forge Group front since the collapsed mining services firm descended into receivership in February. But that is about to change.

Australia bets on coal as climate policy crumbles

Lake Hume, Australia.

PETER HANNAM Australia’s policy on climate change is in disarray after the repeal of the carbon price while the stance of business remains unequivocally pro-coal.

Resources

Newcrest CEO facing tough questions in his first big outing

Newcrest.

Peter Ker Sandeep Biswas will front the investment community for the first time as CEO of Newcrest Mining on Thursday.

BHP Billiton on the front foot in numbers game

Elizabeth Knight Dinkus

ELIZABETH KNIGHT BHP has demonstrated its strong credentials among the big Australian iron ore producers in the race to increase export volumes.

Resources

Shareholder returns on agenda as BHP Billiton enjoys sales bonanza

BHP.

PETER KER Stronger-than-expected production in BHP's two biggest revenue spinners has set the scene for CEO to embrace shareholder returns at the miner's full-year financial results next month.

BHP pumps up the volume result but B team still a drag

For the big miners, it's a volume game.

ELIZABETH KNIGHT BHP Billiton has underscored its credentials in the race among major miners to increase export volumes.

Mining

BHP iron ore production surges, beats target

BHP

PETER KER BHP Billiton has easily beaten full year export targets for its two biggest revenue spinners, as the miner continues to consider its options around simplifying its product portfolio.

Mining

Discounts for lower-grade iron ore here to stay, says BHP's Mike Henry

Mike Henry

PETER KER Price discounts for lower grade iron ores are here to stay, according to BHP Billiton marketing president Mike Henry, despite the protestations of smaller miners like Fortescue Metals Group and Atlas Iron.

Resources

Fortescue uses wisdom of Solomon

Fortescue

PETER KER Fortescue Metals Group believes its new Solomon mining and processing hub has an extra decade of mine life, according to documents filed with regulators on Tuesday.

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