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Macarthur Coal Knocks Back $5.2 Billion Bid from Peabody and ArcelorMittal

Macarthur Coal Ltd refused an unsolicited $5.2 billion bid from a pair of industrial giants over the weekend. Peabody Energy Corp and ArcelorMittal had offered a 40% premium over the current stock market value for Macarthur Coal.

2 Aug 2011

Grizzly Discoveries Buys Additional Lands for Alberta Potash Project

Grizzly Discoveries has filed for a permit to acquire a new industrial and metallic mineral in Alberta enclosing around 4,672 ha to increase its present land assets of over 2.4 million acres for the Alberta potash project. The location of the permit is 67 km northeast of the Medicine Hat City along the Saskatchewan boundary.

From Grizzly Discoveries Inc. 27 Jul 2011

Amex Exploration Pronounces Drilling Campaign at Nueva Escondida Property

AMEX Exploration has received all the essential license and permits for the drilling program at the Nueva Escondida property.

27 Jul 2011

Chile Mine Rescue to Hit Big Screen

The rescue of 33 miners trapped in an underground mine in Chile is now going to hit the big screen. Producer Mike Medavoy maker of the Black Swan and his company Phoenix Pictures have come to an agreement with the miners to turn their ordeal into a motion picture.

26 Jul 2011

NSW Minerals Council Not Happy With New OHS Rules

The New South Wales Minerals Council said that the health and safety of miners could be in jeopardy without harmonized Occupational Health and Safety (OHS) regulations. The chief executive of the NSW Minerals Council, Nikki Williams made the statement at the largest OHS conference which hosted over 500 people.

25 Jul 2011

Xstrata Buys Queensland Cattle Station to Make Way for Coal Mine

In Queensland a Wagyû cattle breeding farm is to be sold to Xstrata. The Swiss mining giant is buying the 17,474 hectare pastoral farm from the Australian Agricultural Company. The deal has been struck for $21.6 million and the farm is to be sold minus the cattle and machinery.

25 Jul 2011

New Report Says Australian Interest Rates Will Rise as Mining Boom Drives Wages Higher

A Deloitte Access Economics report said that the Reserve Bank of Australia (RBA) would increase interest rates three times over the coming year. This will be in response to rising wages that go along with the mining boom that will help lift the economy out of the slump that it went into following natural disasters.

25 Jul 2011