Iron ore futures in China extended an advance as imports surged to a five-month high, signalling robust demand as the world’s second-biggest economy grapples with rising commodity prices.
Shares in Walkabout Resources have surged after the company secured $US20 million ($26.3m) in debt funding for its Lindi Jumbo graphite mine in Tanzania.
After ushering in a deal to get the Thunderbird mineral sands project off the ground, CEO Bruce McFadzean will give up the role to take a seat on the board.
Resources analysts believe Regis Resources have paid full value for IGO’s 30 per cent stake in the Tropicana gold mine with its $903m offer.
APA Group and Cooper Energy will inject $24m into the troubled Orbost gas plant, which continues to limit production from the Sole gas project in the Gippsland Basin.
Regis Resources is understood to have won an auction process for IGO’s 30 per cent stake in the gold mine, but AngloGold Ashanti still holds pre-emptive matching rights.
The Samarco joint venture with Vale has filed for a form of bankruptcy protection in Brazil to protect its iron ore operations in the South American country.
Mid West exporters face an anxious wait to learn when port operations will resume as authorities assess the damage left behind in the wake of Cyclone Seroja.
High salaries and the chance to travel the State sounds like a dream job but being a FIFO can take a gruelling toll. Now a new campaign wants to change the macho ‘she’ll be right’ culture of mining.
Sanjeev Gupta has written an open letter to SA, saying he cares deeply about continuing the strong steel manufacturing legacy of his “spiritual home” Whyalla.
It’s no wonder the joint venture partners in the Australian Premium Iron project are eyeing new ways to kickstart their stalled development in the Pilbara, with the iron ore price above $US170/t.
The mining giant faces shareholders publicly in London for the first time since the Juukan Gorge caves blasts that has seriously damaged its reputation.
Stuart McKinnon and Sean Smith
The Whyalla steelworks operations is a key supplier to major ongoing national infrastructure projects, as it battles the debt storm engulfing UK-based owner Sanjeev Gupta.
Current expressions for long-term offtake for urea from Strike’s proposed $2.3 billion Geraldton plant exceed the project’s proposed 1.4 million tonne-a-year supply.
The steel-making commodity is still trading well above the WA Government’s price assumptions, suggesting up to another $800m could be added to State coffers.
West Perth-based Greenland Minerals calls a trading halt amid fears that a new government in the Arctic island will scuttle its controversial China-backed rare-earths project.
Morrison government confirms it is working on a back-up plan to keep Sanjeev Gupta’s Whyalla steelworks afloat.
Perry Williams, Jared Lynch
The market darling explorer has continued a share price surge, making millions for it chairman and significant shareholder Tim Goyder.
Sanjeev Gupta’s Whyalla steel mill company is fighting for its survival by trying to distance itself from its British boss’s dealings with the failed cash-flow financier Greensill Capital.
The Perth-based drilling outfit which listed on the ASX last year has expanded its fleet to 16 rigs.
Gold miner reveals equipment failure at processing plant last month but still booked quarterly production of 66,029oz, which was within its guidance range.
The mint says sales of gold and silver surged during the March quarter as metal prices fell.
Hundreds of contractors still paying the price of the 2016 Whyalla collapse fear they’ll be destroyed if steel operations are wound up.
The mining giant has called on the Federal Government to pump money into nationally-significant capital projects in regional areas in order to keep Australia’s economic recovery strong.
© West Australian Newspapers Limited 2020