Braemar Iron Alliance is likely to invest more than $7 billion at a new iron ore project near Broken Hill. As per the company the area between Peterborough in South Australia to Broken Hill is likely to become Australia's next major iron ore province.
Bradken (ASX: BKN), an Australian mining equipment supplier, saw its shares rise to $8.64 (+4.73%ý) last week after it announced that it had made some acquisitions that would raise earnings by $28 million.
SouthGobi Energy Resources Ltd. (SGQ.TO) has been issued a mining license for its wholly owned Mongolian operating subsidiary SouthGobi Sands by the Mineral Resource Authority of Mongolia. Shares in the company rose by 5 cents after the announcement to end up at $10.75.
The Australian Greens leader Bob Brown said that the majority of mining profits are heading out of the country. He based his statement on a report that found that $50 billion will be paid in dividends to foreign owners over the next five years by the mining industry.
A potential mine site in Australia’s Northern Territory is in trouble with the traditional land owners. The massive iron ore deposit in the Gulf of Carpentaria is now the site of a controversy. Miners want to run a slurry line to Maria Island and the indigenous Aboriginal community say that the land is a deeply sacred place that hosts a poison tee that will kill them.
Western Australia Premier Colin Barnett has blamed the proposed carbon tax and the minerals resource rent tax (MRRT) for the doubt that now surrounds the multi-billion dollar Oakajee Port and Rail Project.
The world’s largest mining company BHP Billiton is spending $3 billion on expanding the Worsley aluminum project in Western Australia.
Iron Road Ltd, an independent, South Australian focused iron ore project developer, is ready to build a major magnetite iron ore project on the Eyre Peninsula in South Australia. The community around Warramboo has traditionally been a farming region but if the open cut mine is established it would convert to a mining zone.
The Queensland government is looking to build subsidized housing projects in Blackwest. Blackwest is located west of Rockhampton in central Queensland.
The Rio Tinto Group has approved the expansion of its iron ore operations in Australia. The company is to invest $676 million over the next six months to profit from ever growing global thirst for iron ore. The funds have been sanctioned to enhance work on port and rail engineering projects in the Pilbara region.
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