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Australasia
 
LEGISLATIVE ENVIRONMENT

Mineral beneficiation, industrialisation key to development – Finance Minister

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Finance Minister Nhlanhla Nene The key to the development of South Africa lay in mineral beneficiation and industrialisation in joint development with its regional neighbours, South Africa’s new Finance Minister Nhlanhla Nene told the Centre for Education In Economics and...
29th August 2014
 
 
COAL

Continental lodges prospectus for A$35.1m right issue

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South Africa-focused thermal coal producer Continental Coal on Friday lodged the prospectus for its proposed pro rata rights issue, to raise about A$35.1-million to recapitalise the company’s balance sheet, with the Australian Securities and...
29th August 2014
 
 
IRON-ORE

China's CITIC books $129m half-year loss on Australian iron-ore

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China's CITIC Ltd reported a HK$1 billion ($129-million) half-year loss on its Australian iron ore operation, which shipped its first ore in December but is still struggling to get the first of six production lines working well. The $9.6-billion...
29th August 2014
 
 
OIL & GAS

'Manage expectations,' Woodside's Coleman tells African countries

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Oil and gas major Woodside on Friday called on emerging African resource nations to carefully consider implementing any policy changes that could scare away foreign investment. Speaking at the second day of the East Africa Oil and Gas conference,...
29th August 2014
 
 
COAL

Atrum completes consolidation in Canada

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Coal developer Atrum Coal has completed the final round of consolidation of coal licences in the Groundhog coal field, in British Columbia. The company on Friday reported the acquisition of an additional 12 granted coal licences and one coal...
29th August 2014
 
 
GOLD

Phosphate Australia divests WA gold asset

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Junior Phosphate Australia has sold its Tuckanarra gold project, in Western Australia, to Canadian miner Monument Mining for A$3.9-milllion. The transaction would include a A$2-million cash payment and 10-million shares in Monument Mining, valued...
29th August 2014
 
 
COPPER

NSW turnaround brings profit for Straits

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ASX-listed copper miner Straits Resources’ turnaround strategy at its Tritton operations, in New South Wales, has paid off, with the miner reporting a net profit during the year ended June. Straits this week noted that a net profit of...
29th August 2014
 
 
OIL & GAS

Qld Minister pushes for deep oil and gas developments

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The Queensland government has released a framework that outlines the opportunities to develop the state’s next generation of deep oil and gas projects. Natural Resources and Mines Minister Andrew Cripps said the development of deep oil and...
29th August 2014
 
 
AFRICA-AUSTRALIA

Opportunities beckon in Africa but Oz firms face stiff competition

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Australian resources firms that were hoping to exploit African minerals would have to address challenges associated with building sustainable opportunities if they were to deepen market penetration on the continent, and to strengthen their...
29th August 2014
 
 
ENERGY

Linc turns Carmichael royalty into cash to focus on core assets

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Singapore listed Linc Energy has agreed to sell its royalty in the Carmichael coal mine to Indian developer Adani, for A$155-million, as part of a strategy to reduce debt and strengthen its balance sheet. Linc sold the Queensland-based Carmichael...
29th August 2014
 
 
FINANCIAL RESULTS

Sandfire rewards shareholders with maiden dividend

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Copper/gold miner Sandfire Resources has awarded shareholders a maiden dividend following a strong financial year. During the full year ended June, Sandfire’s copper production from its DeGrussa mine, in Western Australia, increased to 64 719 t,...
29th August 2014
 
 
Coal

Indian acquisition is losing money and Mozambique wants it taxed

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The financial director of the Steel Authority of India Limited (SAIL) has revealed the losses currently being borne by the Benga coal operation in Mozambique’s Tete province. Anil Chaudhary reported that Benga’s production costs were $165/t...
29th August 2014
 
 
 
 
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