Yanzhou Coal’s Australia bet wins over Goldman on price gain

Kobe Steel, Ltd. announces that it reached agreement with trading firm Sojitz Corporation to take a 33% equity share in Sojitz Resources & Technology Pty Ltd, currently a 100% owned subsidiary of Sojitz Corporation.

The Board of Western Areas (TSX:WSA)(ASX:WSA) is pleased to announce formal completion of the acquisition of 100% of Kagara Nickel Pty Ltd ("Kagara Nickel") for A$68 million.

While the sordid details emerging from the proceedings are humiliating enough there may be some serious financial implications for Gina Rinehart – mining's 4th richest person with a fortune pegged at around $18 billion – as well. On top of the tax loopholes in family trusts exposed by the Rinehart saga, it has also emerged that Hancock Prospecting has not submitted annual financial statements for the past two years.

Ivanhoe announced on Thursday its Australian project is producing copper and gold ahead of schedule. Last week the company said Ivanhoe Australia is on the chopping block as its mega-mine in Mongolia requires all its financial resources.

BHP Billiton would not be willing to negotiate with the unions on strike at its coal mines in Australia and had said the battle is "likely to get tougher before it's over", an e-mail published by ABC’s PM reveals.

ATCO announced on Monday that it has been awarded a multimillion-dollar contract to design, build and operate a 2,586-person turnkey workforce housing lodge for BHP Billiton’s Jansen Potash Project, 100 km north of Regina.

Indonesia will take more of the profits from its vast mineral resources by limiting foreign ownership of mines in a move likely to scare off new investment in the world's top exporter of thermal coal and tin.

Queensland base metal miner, Kagara Mining, said 130 of its staff were becoming redundant after the company posted an A$48.9 million loss in the first half of its financial year.

Rio Tinto plans to invest $2 billion in an iron ore project in the eastern Indian state of Orissa to supply Indian and overseas clients, Sam Walsh, head of the miner's Australia-based iron ore division, told reporters.