Toxic leaks, oil spills and fires seem to be plaguing Zijin Mining Group Co. The biggest gold producer in China has decided to slow down its pace of expansion overseas to focus on strengthening the safety and environmental standards at its domestic operations as per a statement made by company Chairman Chen Jinghe.
The Managing Director of Bradken (ASX: BKN), Brian Hodges says that the financial crisis faced by the company was over
Anna Bligh, the Queensland Premier announced that the state government is carefully considering an offer made by a consortium of coal companies to buy the state's coal rail tracks. Members of the consortium including BHP Billiton, Xstrata Plc and 11 other coal producers have made an offer of AUD$4.85 billion to the Queensland government.
Rio Tinto seems reassured enough by the federal government’s changes to the proposed new mining tax (MRRT) to begin investing in Australian mines again.
Whitehaven Coal Ltd. (ASX:WHC) may be facing a buyout. As per the company statement Whitehaven confirmed that a data room has been in place for a long time in relation to various potential transactions. However the uncertainty over any proposal developing due to the current third party talks still existed.
Paladin Energy (ASX: PDN) has entered a memorandum of understanding with China's biggest nuclear power company Guangdong Nuclear Power.
Foxleigh coal mine in Queensland has gained a new investor in Japan's Nippon Steel.
Nippon has bought a ten percent stake in Foxleigh mine which is an open cut mine in Bowen Basin in Queensland. Nippon took over t...
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.
Whilst the coal sector in Australia is consolidating gains and attracting new investments, Whitehaven Coal (ASX:WHC) is said to have refused an informal approach for a takeover bid but has confirmed it is in discussions with other companies over potential corporate transactions.
The global recession seems to be dissipating as more investments get planned for the mining industry. Mining giant Xstrata is all set to invest $ US5.3 billion to build a copper mine in Peru and to expand a coal mine in New South Wales, Australia.
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