Category: Headline

PRIME Minister Tony Abbott defended coal to world leaders at the G20 summit in Brisbane last month despite increasing pressure for further action on climate change. The G20 Leaders’ Communiqué included a lengthy section on climate change, including a pledge to phase out fossil fuel subsidies. However, major media outlets reported Mr Abbott had argued against focusing on climate change in the communiqué in private leaders’ sessions. According to Fairfax Media, Mr Abbott launched an “impassioned defence” of coal to other G20 leaders, however was opposed by European leaders and US President Barack Obama. Mr Abbott, who earlier this year described coal as “good for humanity”, emphasised the role coal had to play in the developing world in remarks at…

THE world’s largest iron ore producer has blamed its Australian counterparts for the market’s oversupply issues after posting a surprise US$1.44 billion net loss in the last quarter. Despite producing a record 85.7 million tonnes Brazil-based Vale was slugged by a global drop in iron ore prices, which cost the company US$1.031 billion in the September quarter. An 11 per cent depreciation in the value of the Brazilian real also knocked almost US$3 billion from the company’s coffers. Despite its own production increases, Vale ferrous and strategy executive director José Carlos Martins said Australian producers were having the biggest impact on iron ore prices. “In the iron market we are experiencing a market of oversupply; demand did not increase as…

FOR almost 30 years Rio Tinto’s Argyle diamond mine has been the world’s only reliable source of pink diamonds, and a new expansion project will see it hold that title for years to come. Argyle, in WA’s remote East Kimberley, has produced more than 800 million carats of rough diamonds since it was commissioned in 1985. The mine is one of the largest suppliers of diamonds in the world; the majority of gems from Argyle are cheaper white or champagne diamonds that are sold rough to customers in India, the US and China. While pink and red diamonds only make up a tiny percentage of the mine’s production, Argyle has become synonymous with the rare and illustrious gems – producing…

THE BHP Billiton Mitsubishi Alliance (BMA) hopes to defy the coal market’s gloomy outlook after officially opening its US$3.4 billion project, Caval Ridge. BHP Billiton Coal president Dean Dalla Valle said the mine’s opening – attended by Prime Minister Tony Abbott – was an opportunity for BHP Billiton and Mitsubishi to “showcase a world class new mine in Queensland, which will contribute to Australia’s coal export industry”. “Today’s opening of the Caval Ridge Mine is a significant milestone for BHP Billiton,” he said at the October ceremony. “The operation will produce metallurgical coal for the steel industry and has been constructed with the latest technology to be one of the most productive, sustainable and highly performing metallurgical coal mines in…

WA Premier Colin Barnett has accused state’s major iron ore producers of flooding the market, forcing prices down and squeezing out higher-cost producers. In a focused attack on BHP Billiton and Rio Tinto, Mr Barnett warned he would “hate” to raise the state royalty rates, telling the companies to “remember who your landlord is”. WA’s financial stability, which is highly dependent on the iron ore industry, has become increasingly troubled across 2014 as the commodity’s price dropped nearly 40 per cent since January. “The iron ore industry and iron ore royalties have become critical to the state’s finances,” Mr Barnett said. “Normal business logic… would suggest that if we are selling a product into a market and the price is…

SYDNEY-based Igloo Shelters has supplied complete container and shelter packages around Australia and overseas for more than 10 years. The Igloo shelter design not only allows for an efficient and inexpensive alternative to a standard fixed building but also enables easy set up, dismantle and relocation – ideal for anyone looking for portable shelters, roofing or temporary cover solutions. Igloo Shelters operations manager Joe Caruana said being a subdivision of Price and Speed Containers enabled the company to deliver modified shipping containers to act as workshops, site offices and lunch rooms, combined with a high quality, multi-purpose shelter structures. “The shelters are made from a curved structural steel framework covered by a unique PVC coated fabric, rather than the traditional…

EXPLORATION in WA has been hampered by access difficulties. In brownfields areas, issues often include the positioning of flooded open pits, waste dumps, tailings dams or even roads preventing access. In greenfields areas, awareness of environmental impacts in previously undisturbed or sensitive areas has seen a substantial reduction in the amount of clearing allowed for access. WA-based diamond drilling company West Core Drilling – the quality coring company, is assisting exploration and mining companies to overcome these obstacles by providing access solutions. Its modified LF90 core drilling rigs allow them to drill at much shallower angles than most conventional surface coring rigs (-30 degrees compared to the standard of -50 degrees).  This has allowed clients to test otherwise inaccessible areas,…

THE world’s largest iron ore producer has blamed its Australian counterparts for the market’s oversupply issues after posting a surprise US$1.44 billion net loss in the last quarter. Despite producing a record 85.7 million tonnes Brazil-based Vale was slugged by a global drop in iron ore prices, which cost the company US$1.031 billion in the September quarter. An 11 per cent depreciation in the value of the Brazilian real also knocked almost US$3 billion from the company’s coffers. Despite its own production increases, Vale ferrous and strategy executive director José Carlos Martins said Australian producers were having the biggest impact on iron ore prices. “In the iron market we are experiencing a market of oversupply; demand did not increase as…

A PROPOSED BHP Billiton spinoff could be listed on the London Stock Exchange in a surprise back flip from the mining giant aimed at placating shareholders. The planned demerger would create a new entity – referred to as NewCo – incorporating BHP’s aluminium, coal, manganese, nickel and silver assets. Under the initial proposal, NewCo was to have its primary listing on the ASX and a second inward listing in Johannesburg. But in a move to appease shareholders, BHP chairman Jacques Nasser last month announced the company was looking at an additional London listing. “Since the announcement we have been able to engage extensively with investors and other stakeholders…we have been pleased by the support for the demerger and the level…

THE WA Supreme Court has blocked an attempt by Clive Palmer’s Mineralogy to terminate an agreement giving CITIC Limited mining rights at the $10 billion Sino Iron project. Last month Mineralogy served Chinese-owned CITIC a 21-day termination notice on its right to mine iron ore at the Pilbara-based Sino Iron magnetite project, which began exporting late last year after lengthy delays and cost blowouts. The partners have been locked in a fierce battle in the WA Supreme Court regarding royalty payments, which Mineralogy alleged had not been paid. Mineralogy director Clive Mensink, Mr Palmer’s nephew, said CITIC had failed to address a default notice issued more than two years ago, relating to billions of dollars in losses. “Not only has…

FORTESCUE Metals Group has lost a bid to block an iron ore junior’s access to its Pilbara railway in a WA Supreme Court decision handed down last month. In 2013 Brockman Mining submitted a proposal for access to the rail, owned by Fortescue subsidiary The Pilbara Infrastructure (TPI), under the state’s third-party access laws. While the rail was built under a state agreement that required TPI to promote third party access, Fortescue called Brockman’s proposal invalid and began proceedings against Brockman’s application in October last year. The Supreme Court last month dismissed Fortescue’s claim, allowing Brockman to pursue its access ambitions with the WA Economic Regulatory Authority and TPI. In a statement, Brockman said it would take the next necessary…