Mining News: AUSTRALIA

Ruling sees Rinehart explode with rage

NOT OVER YET: Gina Rinehart with her daughter, Bianca. Picture: Theo Fakos Source: PerthNow WHEN Australia's richest woman, Gina Rinehart, discovered she had been stripped of her prized 25 per cent stake in the Pilbara's biggest unmined pile of iron ore,

China clears Rio, Australia in failed Chinalco deal: report (Reuters)

MELBOURNE (Reuters) China has cleared Rio Tinto (RIO.AX) and the Australian government of blame for the collapse of a $19.5 billion tie-up between Chinalco and Rio Tinto last June, an Australian newspaper reported from Beijing on Monday. Chinalco had

Today's Business Headlines

15-March-10 by AAP NAB confident of Axa deal The chief executive of National Australia Bank's MLC is confident the bank's plan to expand its wealth-management arm via a $13.2 billion bid for Axa Asia Pacific will succeed, despite the competition

Australian shares slightly higher, but Arrow falls

LOS ANGELES (MarketWatch) -- Australian shares meandered in early Monday morning action, reflecting limited market cues and a mixed closed for Wall Street's previous session. In the early minutes, the benchmark S&P/ASX 200 was up 0.3% at 4,830.0. The key

China clears Australia, miner

Stand-in Apple boss gets US$22m EU develops Greece plan Germany eyes bank restructure Argentina to restructure US$20bn in debt Greek woes boost aussie to 13-year high Lehman execs 'may have been negligent' Murdoch's birthday raises age

Stocks open higher - just

The Australian sharemarket has opened little changed this morning after overseas equity and commodity prices rounded out last week relatively flat. Shortly after the market opened, the S&P/ASX200 index was up 3 points, or 0.06 per cent, at 4821.1 while

Belgium zinc giant Nyrstar makes boosted bid for CBH

15/03/2010 - Belgium zinc giant Nyrstar NV has made another tilt at Australian miner CBH Resources, boosting its original bid to $213.45 million. Nyrstar, one of the world's largest zinc producers, has made an upgraded takeover bid of 19.5 cents per

FMG Solomon expansion plan to 160Mt to cost AU$9.7b

Chief executive Andrew Forrest told an investment forum in New York that Fortescue planned an expansion to 160 million tonnes per annum (Mtpa) for the second stage of mining after a 60Mtpa first stage at its Solomon project in Western Australia's Pilbara

China clears miner

A CHINESE government post-mortem into the collapse of the $US19.5 billion ($A21.3 billion) Chinalco-Rio Tinto investment deal has exonerated the Australian Government and the Anglo-Australian miner. Instead, it accepts the prevailing view in Australia

Flat start for stocks in store

The Australian sharemarket is expected to open little changed this morning after overseas equity and commodity prices rounded out last week relatively flat. When the Sydney Futures Exchange, the March share price index contract was one point higher at

Singleton rail accident cuts coal line

THREE days of coal shipments worth an estimated $75 million have been lost after an empty grain train was derailed near Singleton on Saturday morning.The Australian Rail Track Corporation, which operates the Hunter Valley freight rail tracks, said

Western Australia's top women in mining recognised

Some of Western Australia’s most outstanding individuals and companies were recently recognised as part of the Chamber of Minerals and Energy of Western Australia (CME) inaugural Women in Resources Awards, 2010. An overview of the winners and finalists

ACCC delays findings of NAB-AXA probe

THE Australian Competition and Consumer Commission has delayed releasing the findings of its probe into National Australia Bank's friendly $13.3 billion all-cash acquisition of AXA Asia Pacific until late next month as it seeks further information on the

Coal brings Wyoming, Queensland together

Mar. 13--CHEYENNE -- Though they are on opposite sides of the world, Wyoming and Queensland, Australia, have something in common. Coal. And both states have critical economic interests in keeping coal saleable despite climate-change concerns. That's not

Xiangguang Copper may buy 15 pct stake in CuDeco

Xiangguang Copper, a copper smelting unit of chicken supplier Shandong Fengxiang Group is planning to acquire a stake in Australian gold and copper miner CuDeco, to bolster its raw material supplies. Fengxiang, which is better known as a

Cocoa compounds may ease exercise-related heart function

Related topics: Formulation Consumption of a beverage rich in cocoa flavanols may boost blood flow to the muscles and ease the demands on the heart during exercising, says a new study from Australia. After exercising, overweight and obese people had

One-dayer: Ponting controversy as Kiwis thump Aussies

RICKY Ponting made a controversial first-ball duck as Australia suffered a 51-run loss to New Zealand in the fifth one-day international. Australia had already retained the Chappell-Hadlee Trophy with three wins in the first four matches. But the Black

Bourse closes in cautious mood

THE Australian sharemarket consolidated in quiet trading yesterday as investors were reluctant to add to long positions before the weekend. The benchmark S&P/ASX 200 closed up 3.9 points, or 0.1 per cent, at 4818.1 after hitting an intraday high of

Australia iron ore and coal exports hit record

SYDNEY -- Australian exports of iron ore and coal hit record levels in the final quarter of last year thanks to strong demand from Asia, official figures showed. Iron ore exports reached 98 million tonnes and coal shipments passed 74 million tonnes,

FACTBOX-Top refined zinc producers

LONDON, April 23 (Reuters) - Australia's Zinifex Ltd. ZFX.AX and Belgium's Umicore ACUMt. BR said on Monday they have signed a binding agreement to combine their zinc smelting businesses, to become the world's largest producer of the metal. The new firm,

Telstra fibre project win

Telstra's delivery of high-speed broadband to remote communities has been recognised, winning at an Australian Telecommunications Users Group (ATUG) gala awards event last night. This is the sixth award for the Arnhem Land fibre project. Telstra's

12:00amBourse closes in cautious mood

THE Australian sharemarket consolidated in quiet trading yesterday as investors were reluctant to add to long positions before the weekend. The benchmark S&P/ASX 200 closed up 3.9 points, or 0.1 per cent, at 4818.1 after hitting an intraday high of

Coal giants eye Queensland Rail bids

QUEENSLAND'S 14 biggest coal companies are set to raise the stakes in the battle for the state's integrated rail business by offering a substantial premium to the $3 billion the state government expects to earn from the sale.

ACCC delays findings of its probe into NAB's AXA move

THE Australian Competition and Consumer Commission has delayed releasing the findings of its probe into National Australia Bank's friendly $13.3 billion all-cash acquisition of AXA Asia Pacific until late next month as it seeks further information on the

Coal giants eye QR bids

Source: The Australian QUEENSLAND'S 14 biggest coal companies are set to raise the stakes in the battle for the state's integrated rail business by offering a substantial premium to the $3 billion the state government expects to earn from the sale.

Revised Proposal from Nyrstar NV may thwart Toho Zinc

The Australian lead-zinc-silver and copper miner CBH Resources Ltd (ASX: CBH) has received an improved offer for the company from big Belgium refiner Nyrstar NV that appears to upstage a bid on the table from the company's major shareholder Toho Zinc of Japan.

SAfrica slips to fourth in world gold production

JOHANNESBURG, March 12 (Reuters) - South Africa's gold production fell by 5.8 percent in 2009, pushing the country to the fourth-biggest producer after China, Australia and the United States, the nation's Chamber of Mines said on Friday. South Africa was

China Sci-Tech to buy Australian copper project

Australian miner Cape Lambert Resources said it agreed to sell its Lady Annie copper project to China Sci-Tech Holdings Ltd for A$135 million , finding a trade buyer after pulling a planned IPO. Shares of Cape Lambert surged 22 percent at the opening as

Is Australia Entering a China-Driven 20-Year Resources Boom (Part 2 of 2), an Industrial Info News Alert

PERTH, AUSTRALIA -- (Marketwire) -- 03/12/10 -- Researched by Industrial Info Resources (Sugar Land, Texas) -- The late 1990s and early 2000s were very quiet times in the Australian resources industry. Commodity prices were low -- so low that iron ore

04:48pmStocks close higher ahead of US data

THE Australian sharemarket closed marginally higher today after modest gains across the board ahead of retail sales and consumer confidence figures from the US overnight. The benchmark S&P/ASX 200 index rose 3.9 points, or 0.08 per cent, at 4818.1

TENNANT CREEK DRILLING RESULTS - EXCALIBUR MINING CORPORATION LIMITED

Excalibur Mining reported to have received results for recent drill holes that were part of the stope validation work at the Juno prospect in Tennant Creek, North Territory, Australia. Key intercepts include from 11m at 14.66 g/t from 284m depth in Hole EJRD053B and in Hole EJD065 intersected 7m at 17.75 g/t from 275m down the hole including 6m at 14.34 g/t from 295m down the hole.

HAUNTED STREAM - MANTLE MINING CORPORATION LTD

Mantle Mining Corporation Limited announced updates on preparations for drilling Anomaly 4 at the Haunted Stream gold project in Victoria, Australia. Highlights include: 3D model completed, two hole design finalized and collar locations confirmed.

TENNANT CREEK DRILLING UPDATE: - EXCALIBUR MINING CORPORATION LIMITED

Excalibur Mining Corporation announced results for recent drill holes that were part of the stope validation work currently being undertaken at Juno gold project at Tennant Creek located in Northern Territory, Australia. Highlights include hole EJRD053B which intersected 11 m at 14.66 g/t gold from 284 m down the hole.

NEW DRILLING AT JUNO CONTINUES - EXCALIBUR MINING CORPORATION LIMITED

Excalibur Mining Corporation advised that the company has received results for recent drill holes that were part of the stope validation work currently being undertaken at Excalibur’s Juno project at Tennant Creek, Australia. Highlighted intersections include hole EJRD053B, returning 11 m at 14.66 g/t from 284 m down the hole.

A$21.8 MILLION PRIVATE PLACEMENT CLOSED - WILDHORSE ENERGY LIMITED

WildHorse Energy announced that it has completed its $21,804,858 exempt placement to Institutional and Sophisticated Private Investors. The Company is today allotting the 64,131,934 Placement shares at an issue price of A$0.34 per share for gross proceeds of A$21,804,858 before costs.

LADY ANNIE SOLD TO CHINA SCI-TECH - CAPE LAMBERT RESOURCES LIMITED

Cape Lambert Resources entered into a conditional sale agreement with Hong Kong listed company China Sci-Tech Holdings, for the sale of its 100% interest in the Lady Annie project for a total consideration of A$135 million.

SCADDAN INCREASED RESOURCE ESTIMATE - BLACKHAM RESOURCES LIMITED

Blackham Resources reported to have increased the Scaddan total lignite resources to 860 million tonnes located in Western Australia. The resource has increased significantly with 500 million tonnes (58%) of the resource now in the measured and indicated categories Further drilling required to confirm a possible extension of the Scaddan West deposit to the north.

RIDGEBACK LAND EXPANDED - SOUTHERN URANIUM LIMITED

Southern Uranium reported to have signed a Joint Venture Agreement to acquire a majority interest in EL 3922, expanding the Ridgeback project to a prospective area adjoining the Moonta mining field.

TRENGGALEK DRILLING RESULTS - ARC EXPLORATION LIMITED

Arc Exploration announced the results of the first two scout drill-holes from the Sentul Prospect at its Trenggalek project in East Java, Indonesia.The first hole TRDD-001 intersected 3m at 7.6 g/t gold and 35 g/t silver within 70.4m at 0.82 g/t gold and 6 g/t silver from 72.6m down-hole. And in Hole TRDD-002 returned 18.55m at 0.85g/t gold and 8 g/t silver from 30.8m including 1m at 11.70 g/t gold and 18 g/t silver.

BOSETO DRILLING RESULTS - DISCOVERY METALS LIMITED

Discovery Metals announced the latest drilling results which highlight continuation of the Plutus-Petra mineralisation for 15 km beyond the current 11 km strike length boundary of the existing mineral resources located on the Boseto project. Significant assay results include 4.0m at 2.2 % copper and 29.8 g/t silver from Hole PSDD1000, in Hole NXDD1001 returned 3.0m at 2.1 % copper and 32.3 g/t silver and Hole PTDD875 found 5.8m at 1.7 % copper and 16.4 g/t silver.

CARRAPPEE HILL SAMPLING RESULTS - ARCHER EXPLORATION LTD

Archer Exploration reported that drilling has recently identified 1km long nickel / chrome anomaly which is open to the west at the Pindari prospect on the Carrappee Hill project. Sampling returned peak values of 0.37% Nickel and 0.34% Chromium.

CONDITIONAL LADY ANNIE SALE AGREEMENT - CAPE LAMBERT RESOURCES LIMITED and CHINA SCI-TECH HOLDINGS LIMITED

Cape Lambert Resources reported to have entered into a conditional sale agreement with China Sci-Tech Holdings, for the sale of its 100% interest in the Lady Annie project for a total consideration of A$135 million.

JULIA CREEK RESOURCE ESTIMATE - INTERMIN RESOURCES LIMITED

Intermin Resources reported to have received a JORC compliant Indicated Resource for Lilyvale prospect at the Julia Creek project in Queensland, Australia. The new resource outlined comprises a total of 410,670,000 tonnes grading 0.44% V2O5 and 332g/t Molybdic Oxide (MoO3). The Lilyvale resource reported contains 87.7 million tonnes grading 0.55% V2O5 and 384g/t MoO3 (0.038%). The mineralization is contained within a continuous block up to 4 km wide and 10-12m in thickness. Overburden averages 5-6m.

LAND OPTION AGREEMENT UPDATE - NUCOAL RESOURCES NL

NuCoal Resources NL reported to have signed an option agreement to acquire 280 hectares of strategically located land within the exploration area of the 100%-owned Doyles Creek coal project (EL 7270).

NEW ARCHER DRILLING CONFIRMS 1KM ANOMALY - ARCHER EXPLORATION LTD

A new drilling program completed last month has defined a 1 km long coincident nickel/chrome anomaly (greater than 1,000 ppm nickel and chrome) at Archer Exploration Limited’s 100%-owned Pindari project on South Australia’s Eyre Peninsula. The anomaly is open to the west and has peak values of 0.37% Ni and 0.34% Cr, confirming Pindari’s nickel potential, and warranting further new drilling.

RÖSSING SOUTH PROJECT FEASIBILITY STUDY UPDATE - EXTRACT RESOURCES LTD

Extract Resources reported that the Rössing South definitive feasibility study continues to progress well and is on track to confirm the project’s potential to be one of the world’s largest uranium mines in Australia. The base case mine plan remains low risk, bulk tonnage, open pit mining, with ore processed through a conventional agitated tank leach plant.

FIRST ORE PARCEL EXCEEDS EXPECTATIONS - RANGE RIVER GOLD LIMITED

Range River Gold received the results of assays on the first parcel of ore crushed at Barrick Gold's Granny Smith operations commencing in Australia on 24 February 2010. Preliminary results for the first ore parcel are 4,019 tonnes delivered at 4.9 g/t Au. The grade of the first ore parcel at 4.9 g/t significantly exceeded grade control estimates.

Nyrstar raises offer for CBH Resources by 44 pct

This brings the price of the offer for the Australian company to A$0.195, from the original A$0.135

Market finishes marginally higher

The Australian share market finished flat on Friday, after initially making gains on a positive lead from Wall Street overnight. The All Ordinaries Index closed 6 points higher to 4,832 and the ASX 200 ended up a mere 4 points, at 4,818. It was the big

Stocks close higher ahead of US data

THE Australian sharemarket closed marginally higher today after modest gains across the board ahead of retail sales and consumer confidence figures from the US overnight. The benchmark S&P/ASX 200 index rose 3.9 points, or 0.08 per cent, at 4818.1