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QUEENSLAND-based Matilda Equipment has built a reputation for supplying high quality, late model, low hour, heavy earthmoving equipment to Australia’s mining and civil construction sectors on a dry hire basis. Since inception, it has maintained a 100 per cent accident free record. The company has forged relationships with many of Australia’s leading miners and contractors operating throughout WA’s Pilbara region, the Northern Territory, Queensland, NSW and recently South Australia. With demand for heavy equipment at an all time high, Matilda is well place to be able to fulfil its clients’ needs. It has almost 100 machines in its fleet, with the majority of machines comprising Caterpillar D11T and D10T dozers. The equipment rental fleet also includes Caterpillar graders, loaders, compactors...

SPECIALISING in repairs, maintenance and modifications to heavy earthmoving and surface mining equipment, MJD Mechanical Services also has the facilities, specialised tooling and training for the overhaul of components to complete machine overhauls. MJD Mechanical has extensive experience with surface mining equipment, specialising in dozers, loaders, off-highway trucks, graders, diggers and scrapers. All requirements for complete machine overhaul are available on the company’s site including, fitters, boilermakers, engineering, blast and paint. MJD Mechanical carries out site equipment compliance on new machines and assembly of machines in component form, sent direct to its site from Brisbane wharf for assembly, site spec, repairs as required and commissioning. This allows heavy haulage to move equipment to mine sites in mostly-assembled form, due to...

NORMALLY I discuss stocks directly related to mining in this column. In this edition, however, I am taking a departure to discuss one of our favourite shares on the market: Telstra. My interest in Telstra began last year when it was being proverbially pounded by the stock market, media and analysts. The Future Fund was selling the stock down, confusion reigned over the NBN Co (National Broadband Network) and the share price sunk to a shocking low of $2.57. Behind the scenes, Telstra was quietly turning the business around. Quite simply, customers hated dealing with Telstra and were leaving in droves; as analysts and customers, it seemed so logical that ‘all’ the company needed to do was improve customer service...

The directors of Energio Limited have announced the appointment of Joe Ariti as a new director of the company. Mr Ariti is an experienced company director and mining executive with more than 25 years of experience in technical, management and executive roles assessing, developing, managing and financing mining projects and companies in Australia and overseas. He has recently developed a strong background and successful track record in delivering capital market transactions. Mr Ariti is also an executive director of Matrix Metals and has previously held non-executive roles with African Iron, Territory Resources, Swick Mining Services and DMC Mining. The directors of Energio also announced the resignation of Athan Lekkas from his position as a director of the company. The board...

IMPROVED market conditions and boosted production have helped Alcoa to record a US$94 million net profit for the March 2012 quarter, after reporting a loss the previous quarter. At the end of December 2011, Alcoa posted a $191 million loss for that three month period. In its March 2012 report, Alcoa said the company had negotiated its way back to positive cashflow via productivity improvements across all of its businesses, higher realised prices for aluminium and improved volume and mix. “Performance rebounded strongly this quarter due to our proactive cash sustainability actions, our relentless focus on profitable growth and stabilising markets,” Alcoa chairman and chief executive officer Klaus Kleinfeld said. “Challenges remain in this economy, but we approach them better...

EMERGING coal explorer Bandanna Energy has increased reserves at its Springsure Creek project in Queensland’s southern Bowen Basin by 50 per cent, as part of the mine’s ongoing development. The JORC-compliant marketable reserve at Springsure Creek, owned by Bandanna subsidiary Springsure Creek Coal, now stands at 153.5 million tonnes; the new reserve fi gure is an increase from 102.6mt, and derived from JORC-compliant probable reserves of 161.6mt. The increased reserves are underpinned by a recently updated total JORC-compliant resource of 490.5mt for Springsure Creek, comprising 262.3mt of inferred resources and 228mt of indicated resources. The upgrade reserves form part of an underground longwall mine designed by Brisbane-based mining consultants Minecraft Consulting, which declared the new reserve “marketable” following mining and...

MINING in space could be within grasp after Washington-based Planetary Resources outlined plans on April 24 for the mining of Near Earth Asteroids (NEAs). Boasting a ‘who’s who’ of investors and technical advisors – including Google chief executive Larry Page and filmmaker James Cameron – the well-funded explorer is looking to tap into the high concentrations of precious metals and water found on asteroids. “Many of the scare metals and minerals on Earth are in near-infinite quantities in space,” Planetary Resources co-founder Peter Diamandis said. “As access to these materials increases, not only will the cost of everything from microelectronics to energy storage be reduced, but new applications for these abundant elements will result in important and novel applications.” Planetary...

MID tier gold producer Evolution Mining has found more high-grade gold at its Cracow gold mine in Queensland. A drilling program was conducted about 150m north of known mineralisation and has confirmed the presence of a high-grade epithermal gold shoot. Best intersections from the recent diamond drilling program were: 25.4m grading 6.47 grams per tonne gold from 611.6m, 13.7m grading 8.01g/t gold from 539m, and 2.3m grading 61.53g/t gold from 505.2m. The March 2012 quarter brought with it gold discoveries for Evolution, but total gold production fell from almost 90,000 ounces in the December 2011 quarter to 84,122 for the March period. The average gold price achieved also fell, dropping from $1632/oz for the December period to $1604/oz. Cash costs...