Federal Resources Minister Matt Canavan has welcomed the opening of Indian major Adani Mining’s new business centre in Rockhampton, which will support the recruitment and contracting for its Carmichael coal project. Adani on Friday also announced a A$100-million rail contract with railway developer Martinus Rail.
ASX-listed Kin Mining will raise A$3.1-million through a share placement and underwritten pro-rata non-renounceable entitlement offer to fund drilling at its Cardinia gold project, in Western Australia.
Coal will continue to play a significant role in electricity generation for the country, Mineral Resources and Energy Minister Gwede Mantashe has said. The minister on Friday briefed media on the recently gazetted Integrated Resources Plan 2019.
The absence of new mining projects, owing to limited exploration, continues to weigh on the future sustainability of South Africa’s once thriving mining sector, which once captured a larger share of major mining budgets.
Dan Clifford has tendered his resignation as MD of coal miner Stanmore Coal, with the company on Friday announcing the appointment of Jon Romcke as interim CEO.
Clifford has been MD of Stanmore for some three years, having joined the company shortly after the restart of the Isaac Plains mine.
Shares of First Quantum Minerals Ltd rose as much as 17% on Thursday after an investment firm backed by Chinese state-owned Jiangxi Copper increased its stake in the Canadian miner.
Pangaea Investment Management said it had purchased six-million more shares in First Quantum, bringing its stake in the company to 74.64-million shares, or 10.8%.
BHP shareholders are poised to reject a motion urging the world's biggest listed miner to suspend membership of some industry bodies judged to be at odds with goals to tackle climate change, initial voting in London suggested on Thursday.
Ethical investors have called for the suspension, arguing BHP's membership of some industry organisations funds pro-coal lobbying.
The clearest sign yet that America’s Coal County is headed for widespread job cuts: The amount of coal being produced per US miner is at the lowest level in eight years.
Productivity has slid 11% this year alone. The last time it was this low was in 2011, when coal companies ended up cutting almost half their workers in a downturn that lasted more than four years.
Junior Jervois Mining has completed the sale of its Bullabulling gold royalty for A$3.1-million in cash to a subsidiary of Zijin Mining, which owns the gold project.
Jervious last year sold the Nyngan and Flemington royalties to Cobalt 27 Capital Corporation, for $4.5-million, at the time choosing to retain its Bullabulling royalty as its most valuable royalty asset.
Lithium miner Altura Mining will raise A$21.5-million through a non-renouceable rights issue to fund exploration in the Pilbara and on lifting production at its Pilgangoora project, in Western Australia.
The non-renounceable entitlement offer will be conducted on the basis of two new fully paid ordinary shares for every 13 shares held, at an issue price of 6c a share.