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Mining & Resources

Glencore delivers a left hook to Rio Tinto

ELIZABETH KNIGHT 12:15am From the predator's perspective, Rio is all the more vulnerable. For its part, Rio has reiterated recently that the merger is a no-fly zone. But, ultimately, it is up to shareholders.

Santos chair switch fuels debate over CSG, equity raising

Coal seam gas processing hub

Angela Macdonald-Smith 12:41am The surprise switch in the chairmanship of Santos announced late on Tuesday has sharpened attention on the issues simmering beneath the surface at the beleaguered oil and gas player.

Rio Tinto goes mining for data

Rio tinto

PETER KER 1:02pm The miner is still investing in "big data" despite its austerity campaign

NSW election 2015: Government cancels two large CSG exploration licences

CSG: another setback for the industry in NSW.

PETER HANNAM 2:29pm The Baird government has cancelled two petroleum exploration permits for coal seam gas formerly held by Pangaea Resources in a bid to ease concern about the industry in the state.

Signs of life in copper but doubts remain

Copper prices have bounced off five-year lows seen in January.

LARISSA NICHOLSON 4:44pm Copper prices have bounced off five-year lows on the back of hopes of economic stimulus in China, with one prominent bank lifting its copper price forecast by more than 20 per cent.

Glencore cuts coal output in challenge to Rio Tinto, BHP Billiton

Glencore chief Ivan Glasenberg is trying to position himself as a superior marketing manager to his Rio counterpart, Sam Walsh.

Amanda Saunders 1:03am Iron ore majors Rio Tinto and BHP Billiton will not be provoked into retailiating on Glencore chief Ivan Glasenberg's latest attack on their expansion strategies.

WA no longer world's best place for miners, hammered by royalties and taxes

Western Australia has fallen to No. 5 in the world's list of most-desirable mining investment locations from being the world leader last year.

Tess Ingram Western Australia has lost its world No.1 ranking for mining investment, with lobby groups pointing the finger at hefty royalty payments and taxes that can gobble as much as 47 per cent of mining companies' profits.

A massive increase in coal mining is a cause for concern

SMH editorial dinkus

Premier Mike Baird is very open about his plan to privatise the state's poles and wires.

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Government, Labor block calls for investigation into Adani coal development

 Greens senator Larissa Waters is unhappy her inquiry call into big coal development has been blocked.

LISA COX The federal government and Labor have used their numbers to block an inquiry into which companies or individuals control Australia's largest coal development.

Bleak coal outlook to force consolidation: Yancoal

Yancoal

PETER KER Take-or-pay rail and port contracts have forced Yancoal into its second consecutive full-year loss.

Diversification may be only way for mining services to survive

Macmahon Holdings slashed its full-year outlook by up to 40 per cent after it posted a $112.5 million loss on Wednesday.

Vanessa Desloires and Tess Ingram Reporting season was likely not one looked forward to by the mining services sector. As earnings flooded in, their balance sheets were characteristically earmarked by heavy write-downs and cost cutting measures. 

Rob Cole to start next week as Beach Energy MD

Rob Cole's arrival at Beach comes at an unsettling time for the mid-cap player, after a 50 per cent dive in crude oil price.

Angela Macdonald-Smith Beach Energy managing director designate Rob Cole is to take up the position three months earlier than anticipated after freeing himself of commitments related to his previous role at Woodside Petroleum.

Sirius to supply nickel concentrate to BHP's Nickel West business

IRON ORE 001207 PIC MICHELE MOSSOP
 GENERIC IRON ORE RESOURCES MINING EXPORT TRADE EMPLOYMENT TRUCK SHIPPING TRANSPORT
 HAMMERSLEY IRON BHP
 *****************1ST USE AFR********************
back of truck / red dirt

PETER KER BHP has agreed to buy half the nickel produced at Sirius' Nova mine in Western Australia.

Rio fighting for $300m in Forge court stoush

Rio Tinto, generic Pilbara Operations, Iron Ore West Angelas Mine.  Sunday 19th  February 2012  AFR photo Louie Douvis

Amanda Saunders 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.

Andrew Forrest pursues new opportunities in minerals and energy commodities

Mr Forrest said the time was right to begin work on the next generation of mining projects in Australia.

PETER KER 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.

Senators move to give CSG whistleblower air

Gas tangle: senators clash over gag on whistleblower.

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.

Revealed: Major new coal mines planned for the Upper Hunter

A Rio Tinto coal mine in the Hunter Valley.

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.

Australian coal industry edges towards the abyss as Rio Tinto, Glencore, Vale announce cuts

mine

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.

Woodside Petroleum raises $1 billion with biggest bond sale

Woodside Petroleum.

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.

Australian coal industry takes another step closer to the abyss

Hard times: Hundreds of miners stand to lose their jobs as global resources companies cut their coal output and close local mines.

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.

Glencore slashes Australian coal production, jobs on the line

The production cuts will

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.

Glencore slashes Australian coal output by 15%

Glencore chief Ivan Glasenberg said the group was

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".

Rio Tinto energy chief Harry Kenyon-Slaney set to depart after restructure

Harry Kenyon-Slaney is set to leave the company after almost a quarter of a century.

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.

Rio Tinto set to cut hundreds of WA iron ore jobs

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.

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.

Comments 1

Vale posts fourth-quarter loss of $US1.85b on iron-ore price plunge

Vale's net loss in the three months ended December 31 marks the third in the past five quarters.

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.

EnergyAustralia writes down coal-gas project, loses power customers

An EnergyAustralia wind turbo.

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.

China headed for soft landing, export-dependent Australia says

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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.

PetroChina blames regulations for derailing $20b Arrow LNG project

Angela Macdonald-Smith PetroChina has blamed overly strict regulations on compliance and environmental protection for derailing a $20 billion-plus LNG project in Queensland.

Carbon tax repeal raised energy prices: Alumina

Alcoa

PETER KER Alcoa's Australian joint venture partner says its energy costs rose after the carbon tax was repealed.

Taking stock: Oil Search boost pays dividends for shareholders

An Oil Search platform in Papua New Guinea.

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,

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