Henry Plant and Equipment

Gold miner Ramelius Resources posts record revenue Gold miner Ramelius Resources Limited?(ASX:RMS) has posted a record half-year revenue of $348.5m as the company benefited from higher prices and lower costs coupled with a 5% increase in gold production over the previous corresponding period (pcp). The increased gold production, buoyed by contributions from the Penny gold mine as well as the addition of the Symes gold mine at the Edna May hub, saw the company increase its net profit by 42% to $41.2m for the half year. The reported all-in sustaining costs (AISC) for the half-year was $1,899/oz, 7% lower than the pcp. The miner expects AISC to decrease further...

FORMER billionaire Nathan Tinkler’s financial woes look set to continue, after one of his companies was placed in receivership in early September. Aston Metals Group – a base metals explorer with tenement holdings in the Mount Isa region – was one of Mr Tinkler’s last remaining mining assets after he was forced to sell his stake in Whitehaven Coal for $600 million in June. The Tinkler Group told The Australian that Aston Metals was considered a “dormant, speculative investment” by the company and other shareholders. “Our main joint venture partner, Orchard Capital Partners in Hong Kong, is experiencing financial difficulties in one of its funds and as a result, took the unexpected decision to place Aston Metals into receivership,” a...

Rio Tinto’s new chief executive and managing director Jean-Sébastien Jacques. By Elizabeth Fabri RIO TINTO’s newly appointed chief executive Jean-Sébastien Jacques has unveiled changes to the organisation’s structure and his executive team. On 2 July, Jean-Sébastien Jacques replaced former chief executive Sam Walsh, and reorganised the group to better align assets with the business strategy and optimise performance. “In the face of testing times for the industry, Rio Tinto is performing remarkably well,” Jean-Sébastien Jacques said. “Our strategy, commitment to balance sheet strength and focus on shareholder returns will not change; but we are strengthening our structure and delivery by placing our assets at the heart of the business to drive improved performance.” The new structure comprised four product groups -- Aluminium, Iron...

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...