Rio Tinto back in race for stake in world’s largest lithium miner

Wayne Swan has threatened to blow a $2 billion hole in the Barnett Government's plan to lift royalty rates on iron ore miners, with every cent raised by the move likely to end up with other States and Territories.The Commonwealth Grants Commission has

Xstrata Mount Isa Mines has announced plans to sustain the future of its Mount Isa operations through expanded mining and concentrate production, while phasing out copper smelting at Mount Isa and refining operations in Townsville by the end of 2016. 

United Pipeline Systems, a division of Insituform Technologies, has been awarded an additional $10.5 million for the supply and installation of its Tite Liner® HDPE solution in pipelines at the Sino Iron Ore project in Western Australia. This contract expands the $10.9 millionproject for themine previously announced in January 2010.

Global mining company Rio Tinto has raised a total of $2 billion bonds in long-term debt bonds, it said on Wednesday. The offer, registered in the U.S. Securities Exchange Commission, consisted of $700 million in 5-year notes with a coupon of 2.5 percent, $1 billion in 10-year bonds with a 4.125 percent coupon and $300 million in 30-year bonds paying a 5.2 percent coupon.

The proposed development of one of South Australia’s most significant infrastructure projects - a new multi-million dollar bulk commodities export facility at Port Bonython on Spencer Gulf - has taken a significant step forward. The South Australian Government and Spencer Gulf Port Link Consortium, the group originally selected by the government as its preferred bidder for project, jointly announced a comprehensive Environmental Impact Statement (EIS) will be undertaken into the project. The consortium comprises Flinders Port Holdings, Leighton Contractors, Macquarie Capital, BIS Industrial Logistics and the Australian Rail Track Corporation (ARTC).

Coal India, the world's largest coal producer, is on a high. The state-run company is set to pick up a 15% stake in a joint venture with US-based coal firm Peabody Energy's $600 million mining project in Australia. The deal size could be upwards of $100 million. Officials privy to the discussion said both the companies were mulling over the exact details and were to form a joint venture company to tackle the Wilkie Creek coal mine, in Queensland, Australia, which is owned by Peabody.

A Mine Concept Study conducted by Steffen Robertson Kirsten (SRK) on the Bungaroo South project has confirmed both the technical and financial viability of a mine development. The mine plan supports a 15 million tonnes per year operation with a mine life of 15 years, with production possible by 2015.

The game of corporate musical chairs has ended with more frustrations than success for the two companies concerned, after BC Iron Ltd (ASX: BCI) got annoyed about Regent Pacific withdrawing its original bid, BC Iron then successfully got the bid reinstated through Australia's Takeovers Panel, and then deciding it didn't want to proceed. The end of this chain was the expert's report to BC Iron that, in summary, said Regent Pacific's bid was neither fair nor reasonable.

In results released on Friday, Australia’s Paladin Energy showed a 47% increase in production from its Namibian and Malawian operations and record revenues of $208.7m on the back of a 31% increase in sales volumes for the nine months to March. The company said despite the concerns about the nuclear energy market following the tsunami damage to Japan’s Fukushima plant, it believes supply and demand imbalances will only widen in future as more plants, such as the 25 under construction in China, come on stream. Paladin is on an aggressive growth drive. Stage 3 of the expansion of its Langer Heinrich mine that would bring capacity to 5.2m lb is 92% complete and in February 2011 the company announced that it completed its acquisition of the uranium assets of Aurora Energy in Labrador, Canada for C$260.8m.