[ad_1] Iron ore is up for six straight days to US$64/t. However, one financial firm sees longer term gloom and more mine closures, while another sees a rally to US$80 by year’s end. In a report this week, Goldman Sachs says that it expects the iron ore price rally, which has seen prices lift around
Read More[ad_1] A little of the gloss came off market darling Qube last week when the logistics business announced tough trading conditions for one of its key divisions. After trading at up to $2.76 per share last week, Qube shares sank under $2.50 after investors absorbed the gloomy contents of the trading update. The latter was
Read More[ad_1] Tim Poole, who succeeds John Prescott as chairman of rail giant Aurizon in September, faces a major decision on whether to cancel, postpone or proceed with the company’s ambitious and expensive Pilbara expansion plans. Aurizon holds an exclusive contract to develop a railway for the West Pilbara Iron Ore Project, after it joined forces
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Caltex has announced a $5m expansion of its national bulk lubricants storage and distribution network, including the construction of a new facility at Welshpool in Western Australia. The lubricants, grease and coolants supplier is building the distribution centre and bulk storage facility in the Perth industrial suburb, it says, to ensure a dedicated supply chain
Read MoreQueensland Resources Council chief executive Michael Roche has rejected leading economist Ross Garnaut’s claims that China will cut its reliance on coal-fired power in coming decades. Garnaut, a professorial research fellow in economics at the University of Melbourne, published a paper this week suggesting that in response to climate change, China will resort to alternate
Read MoreNahan said the Moody’s decision to downgrade the state’s rating from AAA to AA+ was disappointing, and called on the federal government to re-examine its GST distribution policy to be more fair on WA following the decline of the iron ore price over the last 12 months. “The GST system is broken, the state is
Read MoreCITIC Pacific has accused Australian businessman Clive Palmer of “fraud” and “dishonesty” in a claim lodged in Queensland’s Supreme Court yesterday, according to media reports. In a statement of claim reportedly lodged by CITIC, the Chinese government-owned business is alleging that Palmer inappropriately used $12m in funding from a shared bank account. $10m in funds,
Read MoreSandvik has introduced a multifunctional NSU (N surface and underground) core barrel system for core drilling applications, said to be the first of its kind to feature interchangeable components, along with standard and pump-in applications in a single system. Chris Daws, Sandvik Mining’s core drilling product line manager, says the design of the NSU core
Read MoreDespite a slowdown in overall mining investment, the mining lubricant market in Australia is anticipated to grow steadily over the next few years, market analyst Frost & Sullivan predicts. As the mining industry shifts focus to enhanced production, Frost & Sullivan’s analysis finds that the mining lubricant market earned revenues of $446.3m in 2013 and
Read MoreWA mining business Aquila Resources has advised its shareholders to accept a $1.1bn offer from Chinese steelmaker Baosteel and Queensland-based rail haulier Aurizon, despite saying that the price is not a fair one. An independent expert appointed by Aquila following the bid from Baosteel and Aurizon in early May has told the resources company’s board
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