Global diamond industry grapples with sliding demand

A prolonged slump in the global economy has put pressure on the diamond industry, forcing sellers to grapple with sliding demand, rising inventories and declining prices.

Marc Howe | July 18, 2012 | 5:52 am

Fortescue Metals posts record iron ore output amidst surging debt

Fortescue Metals (ASX:FMG) has posted a record-breaking 17.8 million tonnes of output for the June quarter, representing a rise of 42%, while its debt volume has also surged, swelling by a billion dollars to hit the USD9 billion mark.

Marc Howe | July 18, 2012 | 4:25 am

Discovery of rare earth minerals on ocean floor could break Chinese stranglehold

Recent discoveries of rare earth minerals at the bottom of the Pacific Ocean could break China's existing stranglehold on supply of the key raw materials.

Marc Howe | July 18, 2012 | 3:48 am

Australia’s Ambre Energy sued by US partner for mine mismanagement

Australia's Ambre Energy is being sued by US partner Cloud Peak Energy (NYSE:CLD) for mismanagement of their shared Montana mine, as well as exceeding approved budgets and engaging in "self-dealing transactions"

Marc Howe | July 18, 2012 | 1:43 am

Alcohol ban threatens to transform Australian opal-mining outpost into ghost town

The opal-mining township of Mintabie, situated on Aboriginal land at the northern edge of South Australia, could become deserted following the introduction of new laws requiring police checks of residents and prohibiting alcohol consumption in households.

Marc Howe | July 18, 2012 | 1:21 am

BHP Billiton logs record performances for past fiscal year

BHP Billiton (ASE:BHP) has logged a remarkable performance over the past twelve months, with the release of its production report for the year ended 30 June 2012 indicating that the diversified mining giant achieved record results across a broad gamut of operations, and maintained its record-breaking run in iron ore output.

Marc Howe | July 17, 2012 | 11:43 pm

Chinese media confirms rumours of rare earth stockpiling by state

Chinese media sources have confirmed rumours of government stockpiling of rare earths which have been in circulation since earlier this month with China’s leading English-language daily reporting that the central government has budgeted around US$949 million for the undertaking.

Marc Howe | July 17, 2012 | 5:35 am

28 New Zealand miners rescued from Waihi gold mine

Twenty eight miners who were trapped in Waihi's Trio gold mine following a fire accident have all been safely evacuated.

Marc Howe | July 17, 2012 | 5:22 am

Protestors break into Australian uranium mine site

Protestors at Australia's Olympic Dam mine, which is perched on top of the world's largest known deposit of uranium, have managed to smash through the perimeter gate of the mine and enter the site itself.

Marc Howe | July 17, 2012 | 5:20 am

Mining towns dominate list of Australia’s richest areas

A list of Australia's richest suburbs and towns compiled on the basis of census statistics indicates that mining towns now dominate amongst the country's most affluent areas.

Marc Howe | July 17, 2012 | 5:11 am

Tinkler pursues Whitehaven Coal bid in wake of share plunge

Former electrician turned mining tycoon Nathan Tinkler has issued a further bid for the remainder of Australia's Whitehaven Coal Ltd., following a 17% plunge in the company's shares since Tinkler's first offer for the company on June 13.

Marc Howe | July 16, 2012 | 11:57 am

China’s Zijin Mining obtains regulatory approval for Norton Gold takeover

Zijin Mining Group (HK:2899), China’s largest gold producer, announced on Friday that its bid for Australia’s Norton Gold Fields Limited (ASX:NGF) had successfully obtained approval from Australian regulators.

Marc Howe | July 16, 2012 | 11:53 am

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