Author Archives: transtainer

[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

[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

[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,

[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

[ad_1] Work at the Bulga mine. Photo: Glencore Anglo-Swiss commodity and mining multinational Glencore has announced a US$4.96bn (AU$6.91bn) net loss in 2015, as it underwent an aggressive asset shedding process in an effort to manage its significant debt pile in a downturned market. The company announced on Tuesday its earnings before interest and tax,

[ad_1] Administrators for Townsville’s embattled refinery business Queensland Nickel have reportedly asked the state government for an emergency $10m loan to avoid closure by the end of the week. According to an AFR report, administrators FTI Consulting have said a $10m overdraft facility is needed to allow the Yabulu refinery to keep buying ore through

[ad_1] Fortescue Metals Group boss Nev Power isn’t worried about the repercussions of a WA Court of Appeal ruling which opens up access to FMG’s Pilbara iron ore line to prospective, Chinese-backed Brockman Mining. The court on Tuesday dismissed all six grounds of appeal raised by FMG’s rail subsidiary, The Pilbara Infrastructure, and ordered TPI

[ad_1] MUA members voting for a merger with the CFMEU. Photo: MUA Maritime Union of Australia members have voted in favour of merger talks with the Construction, Forestry, Mining and Energy Union, in a move which is set to create a single, more influential union across a number of the nation’s largest blue collar sectors.

[ad_1] Its a dark and stormy time for McAleese. Photo: Shutterstock Embattled transport group McAleese has suspended trading on the ASX this week, and deferred the release of its half-year financial statement, as the company continues to undergo a “strategic process” with advisor Moelis & Company. McAleese, which floated at $1.47 in 2013, closed at

[ad_1] Iron road boss Andrew Stocks. Photo: Iron Road Prospective iron ore miner Iron Road and agribusiness Emerald Grain have announced a partnership which will help deliver a combined iron ore and grain railway and port operation at Cape Hardy on South Australia’s Eyre Peninsula. Iron Road wants to set up an iron ore mine