Unions have not taken kindly to BHP Billiton’s refreshed push for productivity measures and an increased government focus on productivity policy. In a move signalled on March 16 by BHP chief executive Andrew Mackenzie, the mining giant wants to cut labour costs across its operations, and it wants the government to look into industrial relations
Read MoreThe Victorian Government is fielding expressions of interest for parties interested in buying the Port of Melbourne under a long-term lease agreement, a move which will fund the removal of 50 road-rail level crossings across the state. The opening of an EoI period follows an extensive battle in State Parliament for the Andrews Government to
Read MoreRussian billionaire Viktor Rashnikov is thought to have sold just under a sixth of his roughly 5% stake in Fortescue Metals Group, while credit agency Moody’s has downgraded the miner’s rating. The Australian reported this week that Rashnikov, through his company Magnitogorsk Iron and Steel, took advantage of a bounce in Fortescue’s share price last week
Read MoreFortescue Metals Group has enjoyed a significant share price bounce this week after it announced joint venture talks with Vale, and news from China drove iron ore prices upwards. ASX shares in Fortescue closed on Tuesday at $2.79 – up 29% over the last week. The Pilbara miner’s success was driven in part by the
Read More[ad_1] Graphite. Photo: Valence Concerns over near to medium term funding have led the board of graphite junior Triton Minerals to put the company into voluntary administration. “After conversations the managing director had with third parties concerning near to medium term funding proposals,” the company told the ASX last week, “… the board met and
Read More[ad_1] The price of iron ore has bounced this week. Photo: FMG Analysts are doubting the long-term significance of a 19% rise in the price of iron ore on Monday, which boosted Australia’s iron ore majors on the stock exchange. The spot price for 62% Fe benchmark iron ore surged to US$63.74 per tonne on
Read More[ad_1] FMG has discussed the possibility of Vale acquiring between 5 and 15 percent of the company. Photo: FMG Fortescue Metals Group has enjoyed a significant share price bounce this week after it announced joint venture talks with Vale, and news from China drove iron ore prices upwards. ASX shares in Fortescue closed on Tuesday
Read More[ad_1] Clive Palmer says his new cash injection will keep the Yabulu refinery open. Photo: Shutterstock Mining entrepreneur turned politician Clive Palmer says he’s saved the Yabulu refinery from bankruptcy, injecting $23m in cash to keep the Townsville nickel plant open. According to the ABC, Palmer says he has “saved the Yabulu Refinery a second
Read More[ad_1] The Port of Melbourne will be sold. Photo: PoMC The Victorian Government and Opposition have come to terms on a deal which secures the privatisation of Australia’s biggest container port, the Port of Melbourne. The Liberal-National Coalition of Victoria, which has been holding up legislation to privatise the port over a number of concerns,
Read More[ad_1] South32’s Worsley alumina refinery. Photo: South32 Mining leaders and analysts say there is more pain to come for the sector before the big miners are able to scoop up assets from their struggling competitors. In an interview with Fairfax this week, Graham Kerr, chief executive of recent BHP Billiton spin-off South32, suggested there would
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