Category Archives: News

[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

[ad_1] GrainCorp will back the proposed transition of co-operative grain handling business CBH to a commercial structure, and a subsequent listing on the ASX. In a move proposed last week by Australian Grains Champion (AGC), CBH members could garner up to $1bn in cash, and valuable, tradeable shares through a float process. “This is a considerable

[ad_1] Ship loading iron ore at Port Hedland. Photo: Fortescue Metals Group Iron ore has closed at more than US$50 a tonne for the first time since October 27 this week, after a slight slowdown in iron ore production was met with increased output in the Chinese steelmaking sector. The commodity, which is vastly important to

[ad_1] The North Star mill, which is now 100% owned by BlueScope. Graphic: BlueScope Significant cost cutting measures and a favourable Aussie Dollar have led BlueScope Steel to a net profit after tax of more than $200m in the first half, a five-year high. BlueScope’s NPAT figure of $200.1m, announced on Monday, is a $107.4m