Rio Tinto has increased its offer for Riversdale Mining by 3% in a bid to break the shareholder standoff that has ensued after it made its first bid. The offer period has also been extended until April 1, 2011, the third time that it has been extended.
The opposition leader Barry O’Farrell’s plan for a National Park near Sydney is unlikely to happen as it will affect a number of mining permits. O’Farrell has been treating the proposed park in the Dharawal State Conservative Area as his environmental platform for the elections. However previously unpublicized BHP Billiton mining licenses in the Dharawal State Conservation Area region have made the plan a legal nightmare.
Highland Mining (Highland), a subsidiary of Massey Energy Company, has received a permit from the U.S. Army Corps of Engineers to commence work at its new Reylas Surface Mine in Logan County, West Virginia.
The Premier of New South Wales Kristina Keneally is on a road trip in Hunter Valley gathering votes in what was once a Labor stronghold. In Newcastle she said that the new state based tax on mining profits being proposed by the Shadow Treasurer Mike Baird would result in a loss of jobs.
The African National Congress Youth League President hopes to gain 60% of the Anglo American mining company in South Africa. Julius Malema said that what Anglo American did with the other 40% was their own business at a gala dinner on Friday in Nelspruit. He also responded to the query about nationalization of mines in the nation by saying that it would happen in his lifetime.
A $600 million coal mine has been rejected by the New South Wales government. The South Korean state owned mining firm Kores hoped to get the permits for a mine in a key Central Coast electorate. However their plans of extracting 5 million tonnes of coal annually from Wallarah mine near Wyong may now come to nothing.
The Parkes Shire Council said that it was happy with the announcement of an elected New South Wales Coalition government committing to a policy of returning financial resources to the mining affected regions. This would translate into thousands of dollars over the next four years in terms of infrastructure projects.
Australia is near the top of the global mining merger and acquisition deals that took place last year as per a PricewaterhouseCoopers report. It is second only to Canada in the number of transactions that it made in the mining industry as a number of Australian firms tried to benefit from the surging minerals market.
Cardero Resource Corp. (TSX:CDU)(NYSE Amex:CDY)(FRANKFURT:CR5) and Coalhunter Mining Corporation announce that the companies have entered into a letter of intent whereby Cardero will acquire all of the outstanding securities of Coalhunter not held by Cardero.
Arch Coal will pay a $4 million fine for clean water violations at four of its mining operations in three different states. The US Justice Department has charged the company with releasing too much iron, manganese, suspended solids and other pollutants into streams in Virginia, West Virginia and Kentucky.
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