Archived News for Industry Professionals
A resources analyst says the slump in Australia's mining industry is due to complex issues at home and in China.
Thermal coal has hit two-year lows of around $US88 a metric tonne.
Iron ore has dropped around 15 per per cent in two months, fetching an average of less than $US120 a tonne.
Matthew Trivett, of Patersons Securities, says the market is not as confident as it used to be about the information coming out of China, which is the largest buyer of those commodities.
He says some Chinese Government decision making is based on on appeasing the masses rather than on solid economics.
Mr Trivett says there are also problems with the high cost of Australian mining.
"On the home front, we've got a lot of rising costs, lot of union action, a lot of the projects coming on line need a lot of capital," he said.
"And what we thought was going to be a good revenue stream in the future is getting smashed by prices falling off a cliff."
BASF opens minerals R&D centre
German chemical company, BASF, has opened a research and development centre in Australia to lead technological innovation and increase productivity in the global mining and resources sector.
The new facility, located at the Australian Mineral Research Centre (AMRC) in Perth, will drive innovation in mineral processing and metal production technology with a view to enhance sustainable mining practices in Australia and around the world.
A team of six will lead the company’s research into minerals thickening and crystallisation processes; by 2017 BASF hope to employ around 20 researchers at the centre.
Vice Chairman of the Board of Executive Directors of BASF, Dr Martin Brudemueller, said the company’s research will help to ensure the sustainability of the global mining industry.
“With the latest advances in mining solutions research, BASF aims to help mining operations to minimize water consumption, maximize recovery, reduce land areas consumed by tailings disposal and minimize the cost and time required to rehabilitate sites,” Dr Brudemueller said.
Report outlines Upper Spencer Gulf as mining hub
A major study highlighting how the Upper Spencer Gulf region in South Australia can boost regional development opportunities from the growing resources and energy sectors has been released.
No coal mining for Margaret River
The Western Australian Government has taken steps to prevent future coal mining in the Margaret River area by terminating all pending applications for coal exploration activities within a 230-square kilometre zone.
The WA Mines and Petroleum Minister Norman Moore said the decision followed Environmental Protection Authority (EPA) advice which indicated coal mining in the area posed an unacceptable environmental risk.
Based on that advice, the State Government rejected the Vasse Coal proposal last February.
“The Government has now decided that the advice should also be applied to the whole of the coal mineralisation extending through the identified 230-square kilometre zone and applications for coal exploration or mining should not be supported,” Mr Moore said.
“This decision sends a signal to the industry - applications will not be accepted to explore for or mine coal in this area."
Under the Mining Act 1978, the Minister for Mines and Petroleum can terminate or refuse applications if the Minister is satisfied on reasonable grounds that it is in the public interest to do so. This provision will be invoked if explorers are unwilling to withdraw their coal applications.
"I would emphasise that this decision is based on unique and local circumstances existing only in the Capes region. It will provide some future certainty for local residents and landowners without adding unnecessary sovereign risk to the State’s $107billion resources sector,” Mr Moore said.
The Minister said any future applications for exploration or mining activities for commodities other than coal in the Capes region would be reviewed on their own merits and would be subject to the same rigorous assessments before any approval would be considered.
Tarkine mine referrals to undergo EPBC assessment
Two mine referrals in the Tarkine in Tasmania will undergo environmental assessment under national environment law.
Draft aquifer interference policy attacked as ineffective
The NSW Office of Water's revised aquifer interference draft policy has been criticised as bowing to pressure from the mining industry and exempting major projects from its controls.
Ansaldo STS wins Rio driverless train contract
Ansaldo STS Australia has been awarded two contracts worth A$362 million under the Rio Tinto Iron Ore – Ansaldo STS Framework Agreement (RAFA) established in 2010.
Mehan to head up Grange Resources
Iron ore miner, Grange Resources, has appointed Richard Mehan as CEO and Managing Director, replacing Russell Clark who resigned recently.
Mr Mehan has over 30 years’ experience in the resources industry, largely in iron ore and has held a number of senior positions including the CEO of Portman Ltd and Jupiter Mines Limited. He spent 15 years with Rio Tinto iron ore in a range of commercial roles including sales and marketing, business analysis and development and bulk shipping. In 2011 Mr Mehan was appointed Managing Director and CEO of Jupiter Mines Limited.
Reed awards Meekatharra gold contracts
Emerging gold producer Reed Resources Ltd has awarded two key contracts for its Meekatharra Gold Project.
Thiess wins $2.3b contract to continue with Jellingbah
Contract coal miner Thiess has been awarded a $2.3 billion contract to extend mining operations at Jellinbah Group’s Lake Vermont coal mine in Queensland’s Bowen Basin.
$70 million program to support coal mining abatement technology
The Federal Government’s $70 million Coal Mining Abatement Technology Support Package has been launched, providing funding to accelerate the development of abatement technologies and processes for the Australian coal mining industry.
Cancer scare at PWCS
Port Waratah Coal Services (PWCS) have released the results of a long-running study into the carcinogenic effects of coal mining in response to growing concerns raised by the employees over the prevelance of cancer rates in the workforce.
Australian Innovation Challenge open for entries
Innovative individuals and projects across seven fields have an opportunity to secure cash prizes and national recognition as part of the Australian Innovation Challenge, an initiative of The Australian newspaper in association with Shell Australia.
Wheatstone recruitment drive starts
Chevron has announced the start of its recruitment drive for its massive Wheatstone LNG Project, which is expected to see up to 5,000 workers employed.
APPEA conference kicks off in Darwin
The Australian Petroleum Production and Exploration Association’s (APPEA) Conference on workforce development and productivity has commenced in Darwin, marking the first time the conference has been hosted in the city.
NT announces new parks, considers mining opportunities
The Northern Territory Government has announced the creation of two new parks, the Limnen National Park and the Linmen Bight Marine Park, which collectively add a further million hectares to the state’s parks and marine reserves.
EPA recommends James Price Point for approval
The Western Australian Environmental Protection Authority (EPA) has delivered its final assessment of the proposed James Price Point Liquefied Natural Gas precict, recommending the project for approval.
Global jitters affects WA resources sector
The Chamber of Minerals and Energy of Western Australia (CME) has found that while the state continues to reap the benefits of the ongoing mining boom, global uncertainty around the Greek debt crisis and the possibility of a slowdown in China has affected the production of key commodities, translating into a contraction of business confidence.
WA receives advice on impending Browse decision
Western Australian Environment Minister, Bill Marmion, has received legal advice from the State’s Solicitor’s Office regarding the Environmental Protection Authority’s (EPA) assessment of the Browse LNG Precinct at James Price Point in the state’s Kimberly region.
Change ahead for Australia's gas market
Australian gas markets are expected to undergo significant change over the short and long term, particularly in eastern Australia via a rapid increase in LNG exports from the middle of this decade according to the recently released BREE Gas Market Report.