coal mining bucketwheel

Wesfarmers slashes coal price but experts see no reason to panic

The price of coking coal is likely to remain buoyant despite a recent price cut by Wesfarmers and softening Chinese demand for steelmaking inputs. Wesfarmers, an Australian conglomerate based in Perth, over the weekend cut the price it receives for its Curragh coal to US$280 a tonne over the next three months. The move prompted analysts to consider whether coal, like several commodities like copper, nickel, and zinc, is the next domino to fall as slowing global growth pinches commmodities.

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Andrew Topf | October 3, 2011 | 7:40 pm
Robbers grab gold worth $20m from Mexico mine

Mining companies raided in Philippines

Three mining companies in the Philippines have been raided by over 200 heavily-armed communist rebels, Forbes.com is reporting. The rebels burned heavy equipment, disarmed guards and briefly held people, according to officials.

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Andrew Topf | October 3, 2011 | 7:03 pm

Western Australia government challenges Federal government on taxes affecting mines

WA Mines Minister, Norman Moore, told the Paydirt 2011 Australian Nickel Conference, last week that "the federal government's proposed Mineral Resource Rent Tax (M-R-R-T), and the carbon tax are challenges this government and industry are facing. The M-R-R-T is expected to apply from July 1 next year, applying a rate of 30% to all iron ore and coal projects. "The state government's position on this new tax is clear. ...we oppose it and believe it will threaten the WA resource industry's ability to compete in the global market place. ...the same sentiment applies to the proposed carbon tax. The WA resources sector is energy intensive and operates in a competitive world market. "....competing with nations which don't have a carbon price can only adversly affect our competitiveness. "...currently the federal government does not recognise the emergency of Africa, South America and Central Asia as attractive destinations for resources investment. "....the state government will continue to argue against the implementation of these taxes in negotiations with the federal government.

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International Mining | October 3, 2011 | 12:15 am

Substition hurts rare earth demand

Subsitution is driving rare earth demand down, according to analyst Dudley Kingsnorth speaking at an industry conference in China. Kingsnorth is executive director of Industrial Minerals Company of Australia. Dudley told the Metal-Pages(TM) Minor Metals and Rare Earth Conference in Beijing last September that he is dropping projected demand of rare earth oxide per annum to 170,000 tonnes from a previous forecast of 195,000. For example manufacturers of rechargeable batteries may start using lithium ion materials instead of a nickel-metal hydrid, which uses the light rare earth lanthanum.

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Michael Allan McCrae | October 2, 2011 | 6:42 pm

Price of abundant rare earths could halve as hybrid-makers find alternatives

The price of the most abundant rare-earths are set to extend their decline from records this year as Japanese manufacturers, including Toyota the world’s top REE consumer, switch to recycled materials or eliminate the need for REEs altogether. Prices of certain elements such as cerium used to polish TV screens and lenses are already down 40% after months of break-neck price hikes while lanthanum which finds its way into nickel-metal hydride batteries has shown similar declines. However, the price of some REEs such as samarium used in jet fighter electrical systems are showing no signs of decline despite increasing 25-fold in just three years.

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Frik Els | September 29, 2011 | 7:13 pm

Great Western Minerals and GQD says making substantial progress on Steenkampskraal rare earth separation plant

Great Western Minerals Group (TSX VENTURE:GWG) (OTCQX:GWMGF) ("GWMG" or the "Company") is pleased to announce that substantial progress is being achieved, with the active participation of Ganzhou Qiandong Rare Earth Group Ltd. ("GQD") of China, in the development work on the rare earth separation plant in the vicinity of Steenkampskraal in South Africa.

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Marketwire - Mining and Metals | September 29, 2011 | 4:37 pm

Rusal completes $9.33 billion debt refinancing

As expected the proposal by Norilsk Nickel management to buy back some of the stake in it controlled by Oleg Deripaska’s RusAl has been rebuffed. 29.08, 12:39 The world’s largest aluminium producer, Rusal, has posted a 1H 2011 net profit of $1.085

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Russia Today | September 29, 2011 | 2:02 pm

Big 3 see no China weakness – iron ore imports could climb 60% to 1 billion tonnes

Speaking to reporters at an industry conference in Qingdao China, the world's largest iron ore miners said on Wednesday they have seen no weakness in demand from China. Forecasts for China's imports by 2015 now top 1 billion tonnes – up more than 60% from 2010 – due to the relatively high cost and the low quality of its domestic supplies. Firm demand from China's construction sector and a drop off in India's exports have been behind the strength in spot iron ore prices which, at above $170 a tonne, have trebled from late 2008. The big three – BHP, Vale and Rio Tinto – control nearly 70% of the annual iron ore seaborne trade and dominate price talks.

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Frik Els | September 28, 2011 | 10:15 pm