[ad_1] Photo: Shutterstock. Rio Tinto has sold its Mount Pleasant thermal coal mine to US-based MACH Energy for almost $320m. Rio this morning announced the sale, worth US$224m (AU$318m) plus royalties. The deal includes a payment on completion of US$83m, two unconditional deferred payments of US$58m each payable 8 and 16 months from completion, a
Read More[ad_1] Brazilian president Dilma Rousseff. Photo: Tânia Rêgo / Agência Brasil Brazil’s president is reportedly looking for a settlement by early February after a disaster at BHP Billiton and Vale’s joint venture Samarco mine killed 17 people last year. Brazil is said to be seeking as much as AU$7bn in damages after an iron ore
Read More[ad_1] Oversupply in the grain storage market could lead to increased competition. Photo: Shutterstock Oliver Probert – Sydney January 20, 2016 Excess up-country storage will increase competition and promote change in the Australian grains sector, according to a new report from market analyst Rabobank. In what he described as ‘The Next Hunger Games’, Rabobank senior
Read More[ad_1] The Rail-Veyor system in action. Photo: Youtube/Rail-Veyor A unique railway-conveyor system will be installed at a Canadian mine, manufacturer Rail-Veyor has announced. Rail-Veyor Technologies Global recently announced it has signed a contract to install a Rail-Veyor system at Agnico Eagle’s Goldex Mine in Val-d’Or, Quebec, Canada. The 3km underground material handling system will be
Read More[ad_1] Aurizon is feeling the force of struggling coal and iron ore markets. Photo: RailGallery Aurizon has lost almost $4bn of its market capitalisation in just over seven weeks, as the threat of losing a key WA iron ore contract fuelled investor uncertainty following a profit warning announced just before Christmas. The Queensland-based rail operator,
Read More[ad_1] Bento Rodrigues after Samarco disaster. Photo: Anonio Cruz / Agencia Brasil / Creative Commons BHP Billiton has been forced to lower its iron ore production forecast for the 2015/16 financial year in the wake of the tailings dam disaster at its Samarco mine in Brazil in November. BHP announced on Wednesday a forecast of
Read More[ad_1] A nickel ore ship at Townsville, where (inset) Clive Palmer’s Yabulu refinery processes it. Photo: Chris Mackey / Southern Cross Maritime. (Inset: Creative Commons / Benjamin J Macdonald) The Queensland and Federal governments are preparing to help workers who have lost their jobs after Clive Palmer’s Queensland Nickel refinery went into voluntary administration on
Read More[ad_1] Western Australian farmers plan to continue their opposition of Brookfield Infrastructure’s proposed takeover of port and rail business Asciano, despite a range of concessions Brookfield recently put forward to the Australian Competition and Consumer Commission (ACCC). Bermuda/Canada-based Brookfield Infrastructure already owns Brookfield Rail, which holds a long-term lease of much of WA’s intermodal and
Read More[ad_1] France’s Bouygues and Spain’s Ferrovial have reportedly added themselves to the mix of bidders looking to acquire the Australian arm of UK-based engineering and services firm Laing O’Rourke. The news, reported by The Australian on Monday, comes just over a week after group chairman Ray O’Rourke announced the Australian arm of the company would
Read More[ad_1] The Karara export terminal at Geraldton Port in WA. Photo: Karara Iron ore junior Gindalbie Metals has seen its market value cut in half after Chinese steelmaker Ansteel – majority owner of its Karara mine in Western Australia – said it could pull out of the venture. Karara Mining Limited (KML) is a ~7mtpa
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