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.
Rio Tinto is riding high on China's need for steel to set up industries.
The resurgence of the economy in China has helped the mining industry make record profits with Rio Tinto announcing a 125% increase in profi...
Paladin Energy (ASX: PDN) has entered a memorandum of understanding with China's biggest nuclear power company Guangdong Nuclear Power.
The Upper Big Branch mine data recorder has not give any indication of a sudden methane build up before switching off 98 seconds prior to the explosion which killed 29 men in the coal mine.
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...
By Joel Scanlon
8 Aug 2010
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.
By Joel Scanlon
5 Aug 2010
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.
Global Geoscience Ltd. (ASX:GSC), an Australian based mineral exploration company, is selling a copper gold project in northern part of New South Wales to White Rock Minerals Ltd.
By Dr. Cameron Chai
5 Aug 2010
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.
By Joel Scanlon
5 Aug 2010
Gold prices shot up to higher than $ 1,200 per ounce on Wednesday. It was the first time this happened in nearly two weeks. The strong physical demand of gold lifted the price of the metal to a sixth day gain.
By Joel Scanlon
5 Aug 2010
Another effort to finally plug the oil leak in the Gulf of Mexico is being made by BP at its Macondo prospect. This time the company is pumping heavy drilling mud in an attempt to plug the ruptured well. As per vice president Kent Wells it was too early to know how long the process would take.
By Joel Scanlon
4 Aug 2010
Australian mining and construction company Thiess is currently in negotiation with the 200 workers at a coal mine in Queensland. Workers at the Collinsville mine went on strike on Tuesday over job security concerns and pay disputes.
Mining giant Xstrata has announced positive half yearly results for 2010. In fact the operating profit in its north Queensland copper division was announced at $167 million, much higher than the profits corresponding to the same period last year.
By Dr. Cameron Chai
3 Aug 2010
Cougar Energy (ASX: CXY) may have reason to celebrate although it is not quite out of the woods yet. The underground coal gasification plant near Kingaroy QLD had been put on hold last month when traces of benzene and toluene were found in bore water supplies in close to the plant.
By Joel Scanlon
3 Aug 2010
Fortescue Metals Chief Executive Andrew Forrest says that iron ore prices will drop this year. He also insisted that the fall will not be directly related to the slowdown in China’s demand. Mr. Forrest was addressing the Diggers and Dealers conference in Western Australia goldfields city of Kalgoorlie.