Norsk likely to close Kurri Kurri plant
Norsk Hydro has entered talks with the plant’s workforce about a shutdown of the remaining operations at its Kurri Kurri aluminium smelter in the Hunter Valley, a move which could result in the loss of 344 jobs.
Macquarie, Merrill lead $1bn Mongolia IPO
Macquarie Group and Merrill Lynch have reportedly snared lead roles in the planned float of Mongolia’s Altain Khuder, one of the country’s largest producers of iron ore.
‘Dark ages’ threaten Australian LNG
Australia’s “golden age” of gas could soon give way to the LNG “dark ages” amid rampant cost inflation, tax uncertainty, increased competition from North America and East Africa and a public backlash against coal seam gas, Bernstein Research has warned.
TRUenergy trims IPO list to five
Five banks remain in the race for TRUenergy’s planned initial public offering – Bank of America Merrill Lynch, Deutsche Bank, JPMorgan, Morgan Stanley and UBS.
Cooper bid for Somerton goes unconditional
Cooper Energy’s $31.5 million takeover bid for junior explorer Somerton Energy has gone unconditional after the decision of major shareholder Beach Energy to accept the friendly offer.
£500 stake costs Rinehart dearly
Australia’s richest person, Gina Rinehart, will cede tens of millions of dollars in iron ore royalty income to Perth billionaire Stan Perron after settling an extraordinary dispute days before a Supreme Court trial.
BHP to fire up TEMCO operation
BHP Billiton has decided to restart production at its TEMCO manganese alloy plant in Tasmania following a 90-day suspension while it reviewed the ongoing viability of the operation.
China looks good for second half, says Xstrata
China’s demand for copper should improve in the second half of the year despite “problematic” economic conditions globally, says Xstrata’s Charlie Sartain.
Customer trouble sees Patriot’s shares plunge
After its shares plunged 50 per cent, US coalminer Patriot has declared it’s seeking a substantial loan deal to defend itself against potential customer trouble.
Rio’s great barrier grief
Stevens | Tony Burke’s decision to send Rio Tinto’s South of Embley bauxite project into stasis in the name of the Great Barrier Reef is a political stunt.
Spot iron down 10pc in month
The iron ore market has become increasingly fragile as weakening market sentiment hits Chinese steel producers.
Iron ore deferrals cast doubt on China story
Like a saucepan full of red bean soup, China’s economic outlook continues to simmer away despite much of the attention garnered by Europe.
Hope is gone, but China’s still going
The “hope premium” that has been priced into resource markets over the past three years is being ruthlessly stripped away right now.
Japan confronts a nuclear void
A battle over nuclear and renewable energy will determine Japan’s future but has also broader global implications.
Jac Nasser nails Labor
Hewett | Whack! Plain speaking BHP Billiton chairman Jac Nasser has never been one for equivocation when he sees a problem.
Double act but one message
The double act played out by BHP’s Jac Nasser and Marius Kloppers warns Australia about its minerals and energy future.
resource indices
| S&P/ASX 200 RES | 4,041.1 | - 74.0 | - 1.80% |
| METALS & MINING | 3,365.6 | - 67.0 | - 1.95% |
| GOLD | 5,089.7 | - 134.8 | - 2.58% |
| MATERIALS | 9,695.7 | - 176.0 | - 1.78% |
| ENERGY | 12,413.9 | - 175.3 | - 1.39% |
| UTILITIES | 4,797.7 | - 39.0 | - 0.81% |
All latest Resources news
Norsk likely to close Kurri Kurri plant
Norsk Hydro has entered talks with the plant’s workforce about a shutdown of the remaining operations at its Kurri Kurri aluminium smelter in the Hunter Valley after it was unable to find a viable fix for the loss-making plant following a review.
Cooper bid for Somerton goes unconditional
Cooper Energy’s $31.5 million takeover bid for junior explorer Somerton Energy has gone unconditional after the decision of major shareholder Beach Energy to accept the friendly offer.
Featured stories
Energy head’s policy warning
The federal government’s key adviser on the national energy market says the renewable energy target and carbon price uncertainty could delay investment in lower-emission generation.
Beach tips early first shale sales
APPEA | The Australian Petroleum Production and Exploration Association (APPEA) conference and exhibition continues was at the Adelaide Convention Centre.
Walker capitalises on Hunter Valley coalmining
Property developer Lang Walker has bought 56.7 hectares of land near Maitland in the NSW Hunter Valley, hoping to tap into rising demand for housing as a result of coalmining in the area.
GE offers $470m for Industrea
Industrea has been given approval to seek buyers for its contracting business after agreeing to a $470 million takeover from giant US conglomerate General Electric.
Mining Tax Showdown
Carbon sweeteners on their way
Some households will receive their first instalment of carbon tax compensation from today as the Gillard government begins its roll-out of sweeteners for low to middle-income households, courtesy of carbon tax and mining tax revenues.
Mining tax’s revenue pot shrinks
The federal government intends to spread the benefits of the mining boom, but the pot it tends to pay out from continues to shrink, dropping to $9.1 billion according to forecasts in Tuesday’s budget.
All industry experts
Japan confronts a nuclear void
A battle over nuclear and renewable energy will determine Japan’s future but has also broader global implications.
Jac Nasser nails Labor
Hewett | Whack! Plain speaking BHP Billiton chairman Jac Nasser has never been one for equivocation when he sees a problem.
Resources Quarterly
Big miners like to keep work DIY
ResourcesDaily Quarterly | When it comes to deciding whether to use a mining contractor or to mine its iron ore itself, Fortescue Metals Group director of developments Peter Meurs says his company isn’t wedded to either model.
Mining services sector ripe for consolidation
Family-owned mining services companies are dominating the resources sector as multinational mining giants swallow up the last of the independent coal producers.
CSG fires up Ostwald to expand rapidly
For the family owned company that started out in agricultural earthmoving and cattle feedlots, the coal seam gas business is something of a different tack.
‘Sweet spot’ for drilling, services firms
Australia’s LNG construction boom and the flurry of activity in unconventional gas exploration offer a wealth of business opportunities for equipment supply, engineering and specialised drilling.
RESOURCES COLUMNS
Classic outcrops excite at Condor
Carl Swensson felt a small pang of nostalgia when he heard the news that Rio Tinto was looking to sell the Argyle Diamond Mine.
Red stains of hope on a desolate plateau
Condor Blanco’s Carachapampa project at the foot of the Andes has got the right hues to get geologists excited.
The man at war with BHP
Meet the man taking on one of the world’s largest resources companies. Stephen Smyth is the lead negotiator for three unions that are locked in a bitter dispute against the No. 1 coking coal producer.
Southern coal link clears major hurdle
A $1 billion railway linking southern Queensland coal mines to coal ports near Gladstone has cleared a major hurdle.
Mining
Customer trouble sees Patriot’s shares plunge
After its shares plunged 50 per cent, US coalminer Patriot has declared it’s seeking a substantial loan deal to defend itself against potential customer trouble.
Macquarie, Merrill lead $1bn Mongolia IPO
Macquarie Group and Merrill Lynch have reportedly snared lead roles in the planned float of Mongolia’s Altain Khuder, one of the country’s largest producers of iron ore.
Energy
Cooper bid for Somerton goes unconditional
Cooper Energy’s $31.5 million takeover bid for junior explorer Somerton Energy has gone unconditional after the decision of major shareholder Beach Energy to accept the friendly offer.
Oil falls as IAEA sees deal with Iran
Oil fell on Tuesday in choppy trading as indications a deal may be near on Iran’s nuclear program eased worries about oil supply disruptions, countering supportive US home resale data.
Logistics
Qld ranks $2bn Gladstone terminal ‘significant’
A consortium of high-powered businessmen have won state significant project status for a new $2 billion-plus coal terminal project at the industrial port of Gladstone.
Leighton reviewing disclosure methods
Leighton Holdings has appointed an external consultant to review its disclosure procedures after breaching laws and being fined $300,000 earlier this year.
