Australia Top Stories

Mergers and acquisitions in Canada stage exceptional comeback in Q1

However, the Canadian Mining Eye index — which tracks the…

Rio Tinto about to offload stake in Grasberg mine for $3.5 billion

Company confirmed is in talks to sell its stake in…

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Franco reports major growth in 2010 results, increases dividend 60%

Franco-Nevada forecasts revenue this year to be between US$325 million to $350 million this year, using consensus commodity price assumptions of US$1,400 gold, $1,750 platinum, $575 palladium and $80 oil. However, the company warned its expenses will be significantly higher in the first quarter of the year, as transaction costs associated with the acquisition of Gold Wheaton will be expensed under International Financial Reporting Standards (IFRS).

Expect billion-dollar expansion in Australian iron ore, coal: BHP

Diversified mining behemoth BHP Billiton is expected to pour billions of dollars into Australia in an effort to expand its iron ore and coal facilities, says a report from AFP: Mining giant BHP Billiton said Friday it would pour billions of dollars into expanding its coal and iron ore operations in Australia, key commodities that are driving the boom in Asian economies.

Australian mining companies win tax concessions

According to Business Spectator, Australia's biggest mining companies have won a major concession over the planned new 30 per cent Mineral Resource Rent Tax (MRRT), with the government agreeing to refund any future increases in state-based royalty charges. Treasurer Wayne Swan said the government agreed with the key recommendation of a mining tax transitional policy group, headed by Resources Minister Martin Ferguson and former BHP Billiton chairman Don Argus.

Leighton Contractors awarded $317 million worth of new gold mining contracts

Leighton Contractors has been awarded two new gold mining contracts, one in Western Australia andone in the Northern Territory, totalling $317 million. The first, a $200 million contract awarded by Newcrest Mining Ltd, is for works at Telfer – one of thelargest gold mines in Australia, located 450km ESE of Port Hedland on the edge of Great SandyDesert. Under the 27-month contract, Leighton Contractors will provide mining equipment, operators,maintenance and supervisory personnel, and infrastructure including workshops and offices to theproject.