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COAL

Timing 'tough' for $4.5bn Thai-Mozambique coal rail-port project

A Thai-Mozambican consortium has set a 2018 target to commission a $4.5-billion coal export railway and port terminal project in central Mozambique, but the depressed global coal prices outlook made the timing "tough", the company's president...
23rd July 2014
 
COAL

Peabody Energy’s Q2 revenue, loss beat Wall Street expectations

A surprise improvement in coal miner Peabody Energy’s revenue for the three months ended June helped it post a loss a share on Tuesday that beat the average estimate of 22 Wall Street analysts. The NYSE-listed miner, with operations in the US...
22nd July 2014
 
CONSTRUCTION

Murray & Roberts awarded mammoth R2.6bn Venetia mine contract

Venetia mine In what could be the single-largest contract awarded to construction major Murray & Roberts (M&R) since the Eskom power build programme, M&R subsidiary M&R Cementation has secured a R2.6-billion contract to develop an underground mine beneath...
22nd July 2014
 
IRON-ORE

Kumba revenue up on rand weakness, dividend maintained

The operational profit of JSE-listed Kumba Iron Ore fell 14% in the six months to June 30 on lower exports and the cost of increased mining activities. But revenue was up mainly on currency weakness and Kumba maintained its interim cash dividend...
22nd July 2014
 
COAL

Mozambique trying to ease coal companies' pain, but no tax breaks

Mozambique is discussing with its foreign coal mining partners ways to help them ride out depressed markets but will not be offering special tax breaks to ease the pain, its mineral resources minister said on Monday. Esperanca Bias told Reuters...
22nd July 2014
 
NATURAL GAS

Australian customers keen to remove artificial gas supply restrictions

The Australian Petroleum Production and Exploration Association (Appea) on Monday welcomed the findings of a research report on the effects of higher gas prices on manufacturers. The gas-customer commissioned report by advisory firm Deloitte...
21st July 2014
 
RESOURCE DEVELOPMENT

Bill passed to free up Woomera Prohibited Area for exploration

The South Australian government has welcomed the Federal Parliament’s passing of the Defence Legislation Amendment Bill, which would allow for access to the Woomera Prohibited Area (WPA). South Australian Mineral Resources and Energy Minister...
18th July 2014
 
LEGISLATIVE ENVIRONMENT

Carbon tax repeal does not take emission reduction off the table – Deloitte

The repeal of Australia’s carbon tax would mean little change for businesses over the short term, advisory firm Deloitte has warned. The Senate this week voted 39 to 32 in favour of killing the tax, a move that had been welcomed by the minerals...
18th July 2014
 
All

Bullabulling gold project, Australia Restricted

Norton Gold Fields has obtained a controlling stake in takeover target Bullabulling Gold, with its shareholding surpassing 50%.
18th July 2014
 
All

Mt Webber joint venture direct shipping ore project, Australia Restricted

The Mt Webber mine was officially opened on July 15.
18th July 2014
 
DIVERSIFIED MINERS

Anglo’s South African mines up output, platinum sales ‘normal’ despite strike

Anglo American’s South African mines came to the party in the three months to June 30, with increased production across-the-board, including platinum supply “at normal levels” to all platinum customers, in spite of the fierce five-month...
17th July 2014
 
CARBON TAX

Mining industry cheers carbon tax abolishment

Tony Abbott Australian Prime Minister Tony Abbott on Thursday succeeded in his attempts to have the controversial carbon tax abolished. The Senate voted 39 to 32 in favour of killing the tax. It was introduced by previous Prime Minister Julia Gillard in 2012...
17th July 2014
 
 
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