JavaScript disabled. Please enable JavaScript to use My News, My Clippings, My Comments and user settings.

If you have trouble accessing our login form below, you can go to our login page.

If you have trouble accessing our login form below, you can go to our login page.

Mining & Resources

Senators move to give CSG whistleblower air

PETER HANNAM 7:07pm 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


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


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


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,

Lack of buyers pulls iron ore towards six-year lows

Iron ore is falling again after a short reprieve.

MAX MASON The price of iron ore for immediate delivery at the port of Qingdao in China slumped 1.7 per cent to $US62.94 a tonne, close to the low of $US61.20 it hit early this month.

Ausdrill slashes dividend while flagging subdued outlook

Ausdrill said second half earnings will be little changed from the first half, with explorers and miners delaying all non-essential spending.

BRIAN ROBINS Despite heavy valuation losses and a forecast of no second half earnings uplift, contract driller Ausdrill has declared a 1c a share interim dividend, as it looks to fiscal 2016 for any earnings improvement.

Currency and diesel savings forecast to boost BHP

BHP CEO Andrew Mackenzie.

PETER KER BHP Billiton has revealed a 29 per cent decline in the cost of producing iron ore in Australia over the six months to December 31.

Rio Tinto and BHP Billiton to drive iron ore costs down by another 25%

BHP Billiton chief executive Andrew Mackenzie wants his company to become the world's lowest-cost exporter of iron ore to China.

Amanda Saunders Iron ore heavyweights BHP Billiton and Rio Tinto could hammer production costs to less than $US15 a tonne within 18 months, as BHP chief Andrew Mackenzie warned this week that depressed iron ore prices are here to stay.

AWE plunges to $61.7m loss on write-downs

AWE's earnings were hit by write-downs.

Angela Macdonald-Smith AWE has dived to a $61.7 million first half loss, with hefty asset write-downs due to the drop in oil prices mostly to blame.

Macmahon revises outlook on $112m first half loss

Macmahon Holdings has had to revise its 2015 full-year forecast again after it posted a $112.5 million first-half loss.

Vanessa Desloires Heavy writedowns have hit mining contractor Macmahon Holdings profits, posting a loss of $112.5 million and causing it to revise its full-year forecast for the second time.

APA Group lifts profit guidance on east coast gas

Stripping out the one-time gains, APA's profit declined.

Angela Macdonald-Smith APA Group, the country's biggest gas transporter, has almost quadrupled its net profit for the December half thanks to gains from the sale of its stake in gas distributor Envestra.a.

Seven Group positions for commodity price recovery

Slowdowns in mining and media have buffeted profits at Kerry Stokes's Seven Group.

Tess Ingram and Anthony Macdonald Seven Group chief executive Don Voelte is not banking on a short-term improvement in commodity markets but believes the company's bottom of the cycle investments put it in a good position to benefit from an inevitable recovery.

Rio Tinto CEO Sam Walsh says Glencore merger 'not going to happen'

Rio boss Sam Walsh says investors are not taking Glencore's ambitious advances on a merger with the iron ore giant seriously.

Amanda Saunders Rio Tinto boss Sam Walsh says investors are not taking Glencore’s ambitious advances on a merger with the iron ore giant seriously because anti-trust authorities are “simply not going to let it happen”.

Energy Developments lifts dividend on generation growth

The Energy Developments board lifted the interim dividend to 20c a share.

Angela Macdonald-Smith Landfill gas and clean energy provider Energy Developments has lifted its dividend for the December half despite posting a 6 per cent slide in half-year net profit to $19.5 million.

Obama vetoes Keystone tar sands oil pipeline approval bill

US President Barack Obama blocks Canada tar sands pipeline plan.

President Barack Obama on Tuesday swiftly delivered on his vow to veto a Republican bill approving the Keystone XL oil pipeline from Canada, leaving the long-debated project in limbo for another indefinite period.

South32 running into form at the right time

BHP Billiton chief executive Andrew  Mackenzie said both companies will be able to generate more productivity than they would together.

PETER KER Most of the assets bound for BHP's demerger are showing improved performance

BHP Billiton spruiks demerger as pressure builds for share buybacks

BHP Billiton

PETER KER BHP Billiton has assured shareholders they will enjoy higher dividend yields as a result of the company's looming demerger, but has given little sign of launching into a round of share buybacks before the end of 2015.

Atlas Iron 'may need to source additional funds'

Putting a lid on costs: Atlas Iron boss Ken Brinsden.

Tess Ingram Atlas Iron is rushing to cut costs after the plummeting iron ore price pushed the junior miner to a record $1.1 billion interim loss.

Calls for emergency OPEC meeting as Brent crude oil slips under $US60 a barrel

Mobil Refinery in Altona.

STEPHEN CAUCHI Brent crude has slipped back beneath $US60 a barrel as oil producers consider holding an emergency meeting to stabilise prices.

Latest Business News

Most Searched Shares

Executive Style

Special offers

Credit card, savings and loan rates by Mozo

Small Business

Essential Guides


A free independent guide from SMH with expert information.