Battery Minerals hits construction milestones at Montepuez project

Australia edged closer to the creation of a new 10 billion Australian dollar (US$10.02 billion) port focused on exporting coal to Asia when the state of Queensland allocated land to units of Brookfield Asset Management Inc. BAM +2.16% and India's Adani Group for two terminals at Dudgeon Point on Wednesday.

Australian coal miner Whitehaven Coal (ASX:WHC) announced Monday that it will merge with Aston Resources (ASX:AZT), and it will also acquire Boardwalk Resources in a three-way deal valued at $3 billion.

Resource Capital Research detects some good news in the uranium sector, namely acquisition plays for Hathor Exploration and Extract Resources, but sector performance will remain poor for the first quarter of 2012.

Australia's Extract Resources Ltd., owner of the world’s fourth-largest uranium deposit, advised shareholders to take no action regarding the $2.2 billion takeover bid from Chinese nuclear fuels supplier Guangdong Nuclear Power Corp (CGNPC).

The head of India's biggest iron ore miner says Australia's reputation as a very favorable place to invest has not been dented by the combination of a carbon tax, mining tax and escalating labour costs as the $22 billion group prepares to establish a local mining arm.

Workers at Xstrata’s Ulan Coal project north of Sydney went on strike for 24 hours on the weekend after learning several electrical staff had been dismissed.

Anglo American said on Tuesday its board had approved the $1.7 billion Grosvenor metallurgical coal project in Queensland, Australia, which is expected to produce five million tonnes per year over a projected life of 26 years. The London-based diversified miner said it plans to triple production of met coal in Australia over the next 8 years.

Initial underground mine production has successfully commenced at Xstrata Copper’s Ernest Henry Mining operation in north-west Queensland, marking the site’s transition from open pit mining, which is now complete, to underground mining and magnetite processing. This is a major milestone in the progression of Xstrata Copper’s AUD589 million project to extend its Ernest Henry operations to at least 2024.

Tom Albanese says "assumptions that the floor price would not go much below $120 a tonne might be valid next year but not long beyond that."