Media Room

Stanmore MD steps down

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.

First Quantum shares jump after Jiangxi Copper-backed firm boosts stake

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's London AGM rejects call to quit 'pro-coal' associations

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.

America’s coal country is heading for another wave of layoffs

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.

Jervois sells Bullabulling royalty

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.

Altura sets sights on A$21.5m raise

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.