Murchison Sells Crosslands, Oakajee Port to Mitsubishi for $325 Million
Murchison Metals (ASX: MMX) has conditionally sold its interests in Crosslands Resources and the Oakajee Port and Rail projects to Mitsubishi Development for A$325 million.
Greens Deal in Exchange for Mining Tax Support is Delay in Interest Withholding Tax Cut
The details of the $100-million pay-off between the Greens and the Labor government in exchange for the former's support of the mining tax are no longer secret.
Global Markets Overview - 11/24/2011
From Stan Shamu, Markets Strategist, IG MarketsGlobal markets extended their losses overnight on deepening concerns about the European debt crisis, after a poorly-received German debt sale. Germany failed to find buyers for 35% of the bonds it offered at an auction. There was also a swathe of disappointing economic data, with European services and manufacturing output shrinking for a third month, US durable goods orders falling and unemployment claims topping forecasts.
Mines in Queensland Pirate Retail, Bank Workers
Queensland mines are poaching workers from the banking and retail sectors in a bid to fill up vacancies in the state's thriving mining industry.
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More Job Cuts by OneSteel
Employees of OneSteel have been warned to brace for tougher days ahead as the company reduces costs.
MMG Opens $22-Million Copper Open Pit Mine at Golden Grove
MMG opened on Monday its new copper open pit mine at its Golden Grove operations. The $22-million project is expected to produce 235,000 tonnes of copper concentrate containing 59,600 tonnes of copper metal in concentrate at 25 per cent copper from 2012 to 2014.
Australia's OneSteel Under Extreme Pressure to Deliver in 12 Months
With the forwarded drawdown from $300 million worth of funds to prop up its operations, Australia's OneSteel Ltd scrambles to turn around its operations within 12 months, according to reports.
Parliament Vote on $11-Billion Mining Tax Package Likely on Wednesday
Parliament is set to vote on the $11-billion mining tax measure this week. House leader Anthony Albanese said the vote could be as early as Wednesday as soon as the federal government secured the support of the crossbenchers.
Alkane Resources Closes in with Tomingley Gold Project Approval in NSW
Multi commodity explorer and miner Alkane Resources is edging closer toward development approval for its Tomingley Gold Project.
Santos Mine Backs Out of Planned Coal Seam Gas Pipeline Project in NSW
Santos Mine informed a Parliamentary inquiry that it will back out of a planned coal seam gas (CSG) pipeline pipeline project in New South Wales's (NSW) central west.
Rio Tinto Alcan to Shut Down Lynemouth Aluminium Smelter in U.K.
Rio Tinto Alcan intends to close the Lynemouth aluminium smelter, subject to the completion of a 90-day consultation process with employee and union representatives. The company is also in exclusive discussions regarding the potential sale of the power station at the site.
Alkane Resources Boosts Rare Earths Production in Central NSW
Commodity explorer and miner, Alkane Resources (ASX: ALK), has upgraded its resource of zirconia and rare earths at Dubbo in the central west of NSW.
Business Council of Australia Supports Labor Plan to Lift Uranium Export Ban to India
The debate in Australia whether to lift the bank on uranium export to India or not continues with pro and anti groups airing their sides.
Woodside Says Environmental Impact of Proposed LNG Project in Western Australia Would be Low Risk
Woodside Petroleum Limited (ASX: WPL) said its $30-billion proposed Browse liquefied natural gas (LNG) project in Western Australia would have a low risk to the environment.
Toyota Recalls More Than 21,000 Camry V6 in Australia
Toyota Motor Corporation announced over the weekend that it is recalling about 550,000 cars from the market due to steering issues. In Australia, affected by the manufacturer recall are 21,792 Camry V6 vehicles made in Toyota's plant in Altona, Australia.
Australian Carbon Emissions set to Increase as Power Generation Ramps Up
Greenhouse gas emissions (GHG) from the Australian power industry increased by 3.8% over the month of October, as lost generation gradually made a comeback in the lead up to summer, according to October's Emissions Insights report from RepuTex carbon analytics.
BHP Billiton Hikes Royalty Rate to Western Australia for Iron Ore
Western Australia and BHP Billiton (ASX: BHP) agreed on Thursday to increase the royalty rate for iron ore after it amended the State Agreements Acts. The deal, however, is subject to approval by the state's parliament.
Landmark Tobacco Plain Packaging Laws Near Realization
Barring any possible glitches, cigarettes marketed in Australia will hit the shelves in December 2012 bearing nothing but a plain olive brown packaging and a bold health advisory meant to dissuade smokers from lighting their next stick.
Is Japan Ready to Challenge China on Rare Earths?
China's clampdown on its rare earths production has alarmed trading partners led by Japan, which intends to take up the issue at the Asia-Pacific Economic Cooperation Forum in Hawaii.
Doubling Demand for Rare Earths Seen Pushing Prices Up in 2012
The various and extensive use of permanent magnets in electronic gadgets, radars, hybrid cars, energy efficient solar panels and wind turbines will continuously push the demand and price for rare earths in 2012.
Wine Producers Battle Coal Seam Gas Project in Hunter Valley
A battle is brewing between wine producers and proponents of a coal seam gas project in Hunter Valley as the vineyard owners seek to stop AGL Energy from exploring and putting in gas wells through the area's vineyards.
Mindoro Resources Finds High-Grade Gold Intercept in Philippines
Mindoro Resources (ASX: MDO) announced on Tuesday three new high-grade gold intercepts from two further drill holes at its mine in Batangas province in the Philippines. The gold intercepts are part of the infill and extension drilling of the Southwest Breccia (SWB) epithermal gold shoot at the town of Lobo.
Senate Approves Carbon Tax; Labor Sticks to $23 per Tonne Carbon Price
As the Australian Senate votes on the carbon price on Tuesday, the Labor government said it will stick to its proposed $23 per tonne price.
Thailand Floods Disrupt Global Electronics, Automotive Supply Chain
The destructive floods in Bangkok and Thailand's northern provinces have disrupted global supply chains as major production hubs for electronic supplies and automotive parts are now submerged.
Rio Tinto Chairman Says it's Europe that's Down Under, not Australia
Rio Tinto Chairman Jan du Plessis said on Friday that while Australia is known as the Land Down Under, present global economic realities is that it is Europe which is down under.
Thailand's Retail Markets, Industrial Estates Threatened by Floods
As floods continue to wreck havoc in Thailand, the death toll has now risen to 356 and more than 2 million had been affected within the 147 districts and 26 provinces still submerged by the worst natural disaster in a century in this developing Southeast Asian country.
Toyota Health Care Robots Set for Launch in 2013
Toyota will make health care robots available in the market by 2013. The mechanical assistants would be capable of lifting disabled patients out of bed and helping them walk.
Rio Tinto to Buy 150 Driverless Trucks in the Next 4 Years
Rio Tinto will buy from Japanese firm Komatsu Limited 150 driverless trucks in the next four years under its Mine of the Future programme.
Australian PMI: Pace of Manufacturing Decline Eases in October
The latest seasonally adjusted Australian Industry Group - PwC Australian Performance of Manufacturing Index (Australian PMI®) contracted in October, albeit at a slower rate than recent months, rising 5.1 points to 47.4. The decline was particularly pronounced across the clothing and footwear sub-sector and sub-sectors linked to the construction industry.
Space Shuttle Hangar Set to Become Boeing’s Spaceport
Boeing announced Monday it is leasing the space shuttle processing hangar at the Kennedy Space Center in Florida for use as operational base for its commercial manned spacecraft business.
Rio Tinto to Hold Test Programme for VK1 Exploration Technology in 2012
Rio Tinto plans to conduct a complex testing program in 2012 for its VK1 exploration technology.
Western Australia Needs 150,000 Mine Workers by 2015
Mining billionaire Gina Rinehart predicted continuous growth for Australia's booming mining industry despite threats from red tape, taxes and labour shortages.
NZ Pipeline Operator Asks Industries to Stop Using Natural Gas After Rupture in Maui Pipes
Vector, the operator of the natural gas pipeline in New Zealand's North Island, reported a rupture on its Maui pipes. The rupture happened at a considerable distance south of New Zealand Steel's Glenbrook and Taharoa operations.
Alkane Resources Commits 100% of Niobium Production from DZP to Joint Venture
Alkane Resources (ASX: ALK) has committed 100 per cent the niobium production of its Dubbo Zirconia Project (DZP) in central west New South Wales (NSW) to a joint venture (JV) with a European firm.
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