Tired of the bottlenecks at the Port of Newcastle Xstrata has decided to use its own coal trains in Hunter Valley. The company will spend $130 million procuring three coal trains to start Xstrata Rail. The Swizz based mining company is hoping to haul 12 million tonnes of coal per year with its three train fleet.
By Dr. Cameron Chai
22 Sep 2010
Artha Resources Corporation (TSX.V:AHC) has made good progress with the reconnaissance work at its Cachi rare earth property in Salta Province in Argentina.
By Dr. Cameron Chai
21 Sep 2010
Australia's Environment Protection Agency has given its approval to the environmental scoping document for Toro Energy's 100%-owned Wiluna Uranium Project, 30 kilometres southeast of Wiluna in Central Western Australia.
A group of coal industry companies are hoping to stop the Obama administration's surface mining policy.
By Joel Scanlon
21 Sep 2010
Australia's Reserve Bank Governor Glenn Stevens said that interest rates will rise soon despite soft consumer spending and tight household budgets, because of the booming mining industry. Australia is riding the largest minerals and energy boom since the late 19th century.
By Joel Scanlon
21 Sep 2010
Atlas Iron (ASX:AGO) is sending its first shipment of iron ore to the new Utah Point port from its mines at Wodgina and Pardoo in the northwest of Pilbara, Western Australia.
The children of North-West Queensland mining town of Mount Isa seem to be paying a high price for living near one of the most productive mines in world history.
By Dr. Cameron Chai
20 Sep 2010
New Zealand's only listed local coal mining company, Pike River Coal (NZX: PRC, ASX: PRC), is seeking short term working capital to help pay for its West Coast coal mine in New Zealand.
The bid from Australian resources giant BHP Billiton bid for Potash Corp of Canada is being supported by major world banks. Out of BHP Billiton's US $45 billion syndicated note facilities for the Potash bid, 16% have been picked up by major Australian banks.
Queensland Rail chief, Lance Hockridge said that despite all the opposition to the controversial share market float of the Queensland Rail it will attract a number of retail investors besides a range of institutional investors.
By Dr. Cameron Chai
20 Sep 2010
New talks will begin next week to discuss the changes in the planned Australian Mining Tax. Prime Minister Julia Gillard negotiated a deal with independent lawmakers and a green party member to form a minority government as Labor lost its majority in the 21 August election.
The Orsu Metals Group is starting its feasibility study at the sulphide copper mine it owns in Kazakhstan. The London based mineral exploration company is examining the use of Chinese equipment to reduce its operational costs and to seek potential clients who would be interested in purchasing copper concentrate.
By Joel Scanlon
19 Sep 2010
Mandalay Resources Corp (TSX: MND, MND.WT) has reported that it has begun mining operations at the Chilean mine Cerro Bayo.
No matter what the analysts say about a fake boom, gold seems to be on the rise in the current global economic climate. The price of gold futures in the US rose to a record high for the second time in this week as many investors use it as an insurance against turbulent economy in the world of finance.
By Dr. Cameron Chai
19 Sep 2010
Members of South Africa's National Union of Mineworkers (NUM) have gone on a strike in the Rustenberg mine owned by Anglo Platinum. The 55 temporary workers from SAN Labour Hire are converged in the waiting area underground and refuse to come out.