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By Jane Goldsmith Friday, 19 June 2015 THERE is a light at the end of the tunnel for Australia’s mining industry, with several major mining divisions expected to bounce back in the 2016 financial year, an IBISWorld report has revealed. Iron ore and oil and gas were expected to lead the industry turn-around following last years’ dramatic commodity price drops, with sector-wide revenue forecast to grow 8.6 per cent from $211.8 billion in FY2015 to $230.1 billion in FY2016. “IBISWorld expects world iron ore prices to...

By Reuben Adams Friday, 19 June 2015 NINE WA resources industry workers took their own lives during a 12 month period between 2013 and 2014 – the catalyst for a parliamentary inquiry into fly in, fly out mental health launched by the state’s Education and Health Standing Committee in August last year. The Queensland government has also started a similar investigation. The WA inquiry, due to report on 18 June, will scrutinise the contributing factors that may lead to mental illness and suicide amongst FIFO workers. It covers the current legislation, regulations, policies and practices for workplace mental health in WA; current initiatives by government, industry and community; and recommended improvements. In Queensland, the parliamentary Infrastructure, Planning and Natural Resources Committee...

By Rachel Dally-Watkins Friday, June 19 2015 LAST year, Rio Tinto sold a rare 1.21 carat Fancy Red diamond from its Argyle mine in WA’s remote East Kimberley for a record price. Although the company wouldn’t disclose just how much the stone sold for, it did state that the collection of 54 pink and red diamonds achieved the highest price per carat since the yearly tender process began 30 years ago. In that time, Argyle Diamonds has earned a strong reputation as the world’s only reliable source of pink diamonds – and while the pink and even rarer red diamonds make up only a small percentage of the mine’s production, Argyle has become synonymous with rare and illustrious gems –...

Jane Goldsmith Friday, June 19 2015 THE final quarter of the 2015 financial year has been one of Evolution Mining’s biggest to date, with the mid-tier gold producer landing three significant deals – including a couple which earned it international prominence – in just 35 days. In late April, the company announced its first deal: a binding $400 million agreement with Egyptian billionaire Naguib Sawiris and his company La Mancha Group International to acquire La Mancha’s Australian-based Mungari operations. Ten days later, it confirmed a smaller but highly strategic exploration joint venture with Goldfields explorer Phoenix Gold to develop five Kalgoorlie-based tenements. On 25 May, the company then told shareholders it had consolidated a US$550 million agreement with Barrick Gold Australia Pacific...

By Rachel Dally-Watkins 15 May, 2015 PLANS to build a fourth coal terminal at the Port of Newcastle have progressed with the Department of Planning and Environment (DPE) recommending the project for approval and referring the application to the Planning Assessment Commission for a final decision. Port Waratah Coal Services, which owns and operates the port’s Kooragang and Carrington terminals, has been working with government, rail providers and coal producers to increase capacity at the port through the Terminal 4 project. The original master plan allowed for a capability of 120 million tonnes per annum throughput; however since the plan was lodged...

By Rachel Dally-Watkins 21 May, 2015 THE resources industry is a mainstay of the Queensland economy, contributing $77.6 billion during 2013-2014 and accounting for one in five jobs in the state. The Queensland Resources Council (QRC), which represents explorers, miners, contractors, mineral processors, oil and gas producers and electricity generators with interests in the state, estimated that the resources industry supported 17,000 businesses during 2013-2014 with direct spending of $37.5 billion. It also contributed $2.5 billion in royalties, and employed 442,000 full time employees (directly and indirectly). “Queensland is the leading exporter of coking coal in the world; currently, both coking coal and thermal coal...