Miners’ spending on hunt for copper, EV metals hits $10 billion

Australian ports lying in the path of cylone Lua are resuming operations after the category four storm raced across the northwest coast of Australia over the weekend.

The Australian Senate approved today a mining legislation that imposes a 30% tax on coal and iron ore miners, allowing the government to take a larger part of profits from a mining boom pushed by Chinese and Indian demand for raw materials.

Mr Tom Albanese CEO of Rio Tinto as saying that company has shrugged off concerns about a slow down in Chinese demand for commodities, reiterating its faith in the Asian superpower's industrialization.

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.