The richest woman in the world, Gina Rinehart, on Wednesday dropped $200 million in "loose change" to more than double her stake in Australian newspaper group Fairfax to add to her shares in a television channel prompting questions about the mining magnate's motivations.
Junior miner London Mining’s stocks (LON:LOND) went up almost five per cent today as the company announced two major milestones: the first shipment of iron ore from its Marampa project in Sierra Leone and the commencement of production of coking coal in Colombia.
Australia's mining machinery imports fell 62% in November and December, the biggest fall since the global financial crisis, according to one of the country's largest freight forwarders of heavy equipment.
Photographer Martin Foskett spliced together a video of mining equipment accidents. Apart from the maudlin and rather depressing soundtrack, the video makes for an interesting diversion and a reminder that when thing go wrong with mining equipment, they really go wrong.
US coal giant Peabody Energy posted its best-ever performance in 2011, with revenues increasing 18% to $7.97 billion and operating profit rising by the same percentage to $1.59 billion.