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Australia Posts Record Trade Surplus Thanks to Mining Industry

Australia has posted a record monthly trade surplus of $3.54 billion dollars for the June period. The Australian Bureau of Statistics said that this was the highest surplus ever recorded.

5 Aug 2010

Andrew Forrest Predicts Drop in Iron Prices

Fortescue Metals Chief Executive Andrew Forrest says that iron ore prices will drop this year. He also insisted that the fall will not be directly related to the slowdown in China’s demand. Mr. Forrest was addressing the Diggers and Dealers conference in Western Australia goldfields city of Kalgoorlie.

From Fortescue Metals Group Ltd 3 Aug 2010

African Aura Mining Commences Drill Programme in Cameroon

African Aura Mining Inc. (TSX-V:AUR) (AIM:AAAM) a gold and iron ore development company, has announced the start of an initial 10 hole 4,200m resource drill programme at the company's 100% owned Nkout iron ore project in southern Cameroon.

27 Jul 2010

New Anti-Mining Tax Campaigns Set to Re-Commence

The short respite won by Prime Minister Julia Gillard's intervention and negotiations with heads of the mining majors seems to be over with a new anti-tax campaign about to commence.

From Fortescue Metals Group Ltd 26 Jul 2010

Kumba Iron Ore and ArcelorMittal Reach Agreement

In a temporary truce between Kumba Iron Ore and ArcelorMittal, the world's largest steelmaker has agreed to buy ore from Kumba in the next year at about half of recent market prices. Kumba is a unit of Anglo American Plc.

From Anglo American South Africa 25 Jul 2010

Andrew Forrest Says Government Will Need to Redesign Mining Tax

If Fortescue Metals Group Ltd CEO Andrew Forrest has his way Prime Minister Julia Gillard can forget about having the new mining law passed in its current form after the elections.

From Fortescue Metals Group Ltd 25 Jul 2010

BHP Billiton Cautious on Global Financial Recovery

BHP Billiton (ASX:BHP) says that despite its petroleum and iron ore divisions having both achieved their annual production records, the mining giant is continuing to err on the side of caution about the short term outlook for the global economy.

From BHP Billiton Plc 20 Jul 2010

Fortescue Metals Reports Iron Ore Hike

Fortescue Metals Group Ltd. (ASX:FMG) has reported a hike in iron ore shipments in the June quarter this year as compared to the year before. FMG has shipped 11.04 million tonnes of ore in the June Quarter in 2010 which is a 36 per cent increase from the corresponding figures of last year.

From Fortescue Metals Group Ltd 20 Jul 2010

Trouble Ahead for South African Iron and Steel Industries

Troubles ahead for Indian steel giant Arcelor-Mittal and South Africa's Kumbra Iron Ore in the ongoing contractual dispute between the two companies. The dispute is turning into an all out war between the South African steel industry and the Indian company.

20 Jul 2010

Rio Tinto Ramps Up Pilbara Operations

Rio Tinto is ramping up work in the Pilbara region of Australia. The mining giant has pledged US$200 million in funding for its iron ore operations expansion in Western Australia's Pilbara region.

20 Jul 2010