Australian resources company BHP Billiton is going to make a capital investment of $9.5 billion to expand its Australian iron ore and coal mining operations. The largest miner in the world has now planned to expand its own mines after it failed to take over three acquisition targets in the last year.
The BG Group has decided to halt the construction of the coal seam gas pipeline of its Australian arm QGC. The $15 billion worth Queensland Curtis Island coal seam gas to LNG project has run into a wall thanks to some of its environmental management plans having not been approved. QCG made the announcement about halting work on the pipeline last Thursday.
Dune Energy has set a casing at 13,062 feet on its SL 214 #916 well at Garden Island Bay Field, Plaquemines Parish, Louisiana. A total depth of 13,078 feet has drilled and a five -inch casing to the well to a depth of 13,062 feet.
Magellan Metals Pty Ltd said that it would resume regular lead transport operations from its mine in Western Australia in the next few days. It said that after resumption of mining operations at the Magellan Mine in February 2011 there was a stockpile of lead concentrate waiting at its Wiluna mine site.
Green Star Energies acquires 80% ownership of Fortunate Energy.
Employment Minister of Australia Chris Evans announced that mining giants would be able to import labour to work in their mines.
The McArthur River mine (MRM) owned by Xstrata may soon double its zinc and lead output if all goes to plan. However Xstrata must spend $900 million in order for the mine to remain viable. The doubling of the zinc - lead concentrates from the mine will be not easy for the world’s largest bulk producer of Zinc concentrate.
New Millennium Capital Corp. of Canada and Tata Steel Ltd. of India have decided to develop the large scale iron ore reserves in Labrador and Quebec. This is the latest bid by a global steel making company on Canada’s resources to secure raw material for manufacturing steel.
The Prospectors and Developers Association of Canada (PDAC) brought together the who’s who of the mining fraternity at the world’s largest mining convention as over 22,000 delegates attended the event. PDAC executive director Tony Andrews said that mining was a cyclic business and that it was currently on a major upswing thanks to the rise in commodity prices.
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.
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