News

23 Aug

Fortescue rewarded for cost cutting with ratings upgrade

Fortescue Metals Group has welcomed an upgrade from ratings agency Moody’s, after the ASX-listed iron ore miner announced a net profit of AUD$1.3 billion on August 22. FMG announced to the stock exchange on Monday it had boosted its earnings before interest, tax, depreciation and amortisation (EBITDA) by 27%, despite a 17% drop in revenue.

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22 Aug

Dampier iron ore exports on the decline

Ian Ackerman reports. Cargo throughput at the Port of Dampier has seen a decrease over the past year, according to statistics recently released by Pilbara Ports Authority. Dampier’s throughput for the past month of July stood at 13.8m tonnes – a decrease of 1.9m tonnes, or 12% over the same month in 2015. Imports into

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15 Aug

Australian Bauxite makes second Bell Bay shipment

A bauxite shipment from Tasmania has been hailed as a sign of the overall efficiency of the Port of Bell Bay, on the island state’s north coast. ASX junior Australian Bauxite on August 8 announced a shipment of 35,913 tonnes had departed the port, the second such shipment since nearby Bald Hill mine reopened on

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08 Aug

ARTC, unions do battle on NSW coal network

The Australian Rail Track Corporation has accused the Rail Tram and Bus Union of breaking a ceasefire, with disruptions impacting the corporation’s NSW network despite the union agreeing to put industrial action on hold. The ARTC, which manages 8500 kilometres of track across five states, including the NSW interstate and freight networks, is negotiating with

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01 Aug

Roper River mine could reopen

A Sydney Morning Herald report this week suggests the Roper River mine in the Northern Territory could be set to reopen, after its liquidator reportedly found a buyer interested in restarting exports out of the Port of Darwin. Roper River was mothballed when its operator, Sherwin Iron, went into administration in June 2014, after iron

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08 Jun

UGL slammed by Ichthys issues

A potential $200 million write-off on gas contracts has resulted in a 37% decline in the share price of Australian engineering and services group UGL. UGL announced on June 6 “substantial delays” in talks with the joint venture in charge of construction of the Ichthys LNG plant in the Northern Territory. JKC Australia – a

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04 May

Mining exploration gets $100m budget injection

$100m in additional funding announced in the budget will help map mineral, energy and groundwater potential in northern Australia and South Australia, resources minister Josh Frydenberg has said. The federal budget, handed down on Tuesday night, included $100m of new funding for Geoscience Australia. “The $100m Exploring for the Future programme will produce pre-competitive geoscience

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06 Apr

Mine approval brings rail, export project a step closer

The approval of mining leases for the multibillion-dollar Carmichael coal mine and rail project in Queensland’s Galilee Basin has angered environmental groups. The Queensland Government on Sunday approved the three leases – 70441 Carmichael, 70505 Carmichael East and 70506 Carmichael North – which make up the project area. The announcement is a major step forward

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31 Mar

Unions bridle at BHP’s cost-cutting plans

Unions have not taken kindly to BHP Billiton’s refreshed push for productivity measures and an increased government focus on productivity policy. In a move signalled on March 16 by BHP chief executive Andrew Mackenzie, the mining giant wants to cut labour costs across its operations, and it wants the government to look into industrial relations

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23 Mar

Port of Melbourne lease process begins

The Victorian Government is fielding expressions of interest for parties interested in buying the Port of Melbourne under a long-term lease agreement, a move which will fund the removal of 50 road-rail level crossings across the state. The opening of an EoI period follows an extensive battle in State Parliament for the Andrews Government to

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