Glencore to sell Australian coal train fleet within 3 months
It expects to fetch between $755 million to $1.1 billion for the nine trains, which carry coal from mines in NSW to port operations on Australia's eastern seaboard.
Canadian Prime Minister Stephen Harper gave investors more reasons to speculate about the final outcome of the deal, as he said that China's “very different" political and economic systems are a concern for his government.
While big miners such as BHP (NYSE:BHP), Xstrata (LON:XTA) and Vale (NYSE:VALE) continue to slash jobs across its operations in Australia, some companies are hiring more foreign workers to carry out their resources projects.
Analysts say more coal jobs will be axed in the Australian tropical state of Queensland as the beleaguered resources sector continues to weather a barrage of adverse factors.
Striking gold miners have rejected the industry's latest wage offer, the National Union of Mineworkers (NUM) said on Thursday, confirming mining companies’ fears of labour unrest lasting longer than expected.
The Western Australian government has issued a key approval for Toro Energy's Wiluna uranium project, bringing the proposed mine a large margin nearer to completion.
The full time workers follow $1.4 billion in Chinese funding for two coal projects in the northeast of the province because Canadians "just don't have the experience" to operate underground equipment safely.