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Australasia
 
COAL

Chinese firm expresses interest in acquiring CoAL shares

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Junior miner Coal of Africa Limited (CoAL) has acknowledged that a subsidiary of Beijing Haohua Energy Resource Company, which is listed on the Shanghai Stock Exchange, intends to acquire up to 215-million shares in CoAL at 5.5p a share. The coal...
20th August 2014
 
 
DIVERSIFIED MINERS

Upbeat Glencore’s shares rise as dividend lifts, share buyback kicks off to analyst adulation

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Glencore CEO Ivan Glasenberg Upbeat diversified miner and marketer Glencore, which declared an 11% higher dividend for the six months to June 30 on the back of above-consensus half-year results, has put a $1-billion share buy-back programme under starter’s orders, which has...
20th August 2014
 
 
INVESTOR RELATIONS

Chinese paper calls for retaliation over Australia tycoon attack

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An influential Chinese newspaper called for retaliation against Australia on Wednesday after Australian mining mogul and politician Clive Palmer described China's government as "bastards" who shoot their own people. The Australian government has...
20th August 2014
 
 
PLATINUM

Zimplats halts mining at Bimha

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Zimbabwe-based platinum producer Zimplats has warned of a possible 70 000 oz drop in 2015 financial year production, after deciding to cease all mining activities at its Bimha mine with immediate effect. This decision was taken to ensure the...
20th August 2014
 
 
IRON-ORE

Fortescue profit surges 56% to $2.73bn

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Iron-ore major Fortescue Metals has reported a 56% increase in profit for the year ended June, as revenue surged on the back of increased production. Fortescue reported a record net profit of $2.73-billion, up from the $1.7-billion reported in...
20th August 2014
 
 
MINERAL SANDS

Impellor failures see MDL suspend Senegal mine ops

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Mineral sands miner Mineral Deposits Limited (MDL) has suspended operations at its Grande Côte mine, in Senegal, following the failure of successive impellors within the main dredge pump. The miner said on Wednesday that the operation would...
20th August 2014
 
 
MINING & THE ENVIRONMENT

NSW groundwater monitoring framework welcomed

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The Australian Petroleum Production and Exploration Association (Appea) has welcomed the New South Wales government’s announcement of a framework to map, monitor and protect the region’s groundwater resources. Natural Resources, Lands and...
20th August 2014
 
 
OIL & GAS

Woodside reports record profits in H1

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Oil and gas producer Woodside Petroleum has reported record half-year after-tax net profit for the six months ended June, underpinned by record production and record operating revenue. ASX-listed Woodside on Wednesday reported that after-tax net...
20th August 2014
 
 
MINING SERVICES

Macmahon faces trouble in Mongolia

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ASX-listed project house Macmahon Holdings on Wednesday reported it had suspended work at the Tavan Tolgoi coal mine, in Mongolia, owing to a disagreement with the client, Erdenes Tavan Tolgoi (ETT). Macmahon has been operating at the Tavan...
20th August 2014
 
 
MINING FINANCE

Resgen secures funding for mobile fleet

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South Africa-focused Resource Generation (Resgen) has secured a loan facility of up to $113-million for the mobile equipment fleet with Komatsu Financial, for its Boikarabelo coal project, in the Waterberg. “This agreement represents several...
20th August 2014
 
 
CORPORATE ACTIVITY

Karoon launches major share buy-back

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ASX-listed Karoon Gas on Wednesday announced that it would undertake a share buy-back valued at some A$92-million. The oil and gas explorer told shareholders that over the next 12 months, the company would aim to buy back more than 25.1-million...
20th August 2014
 
 
GOLD

Bassari identifies cost savings at Makabingui

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Junior gold developer Bassari Resources has identified potential cost reductions in capital and operating expenditure at its Makabingui gold project, in Senegal. The company reported on Wednesday that it had identified significant improvements to...
20th August 2014
 
 
 
 
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