Monthly Archives: July 2014

25 Jul

Chinese file suit against Palmer

CITIC Pacific has accused Australian businessman Clive Palmer of “fraud” and “dishonesty” in a claim lodged in Queensland’s Supreme Court yesterday, according to media reports. In a statement of claim reportedly lodged by CITIC, the Chinese government-owned business is alleging that Palmer inappropriately used $12m in funding from a shared bank account. $10m in funds,

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18 Jul

Multifunctional core barrel system from Sandvik

Sandvik has introduced a multifunctional NSU (N surface and underground) core barrel system for core drilling applications, said to be the first of its kind to feature interchangeable components, along with standard and pump-in applications in a single system. Chris Daws, Sandvik Mining’s core drilling product line manager, says the design of the NSU core

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16 Jul

Lube market set to take off

Despite a slowdown in overall mining investment, the mining lubricant market in Australia is anticipated to grow steadily over the next few years, market analyst Frost & Sullivan predicts. As the mining industry shifts focus to enhanced production, Frost & Sullivan’s analysis finds that the mining lubricant market earned revenues of $446.3m in 2013  and 

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15 Jul

Aurizon-Baosteel offer ‘not fair,’ Aquila says

WA mining business Aquila Resources has advised its shareholders to accept a $1.1bn offer from Chinese steelmaker Baosteel and Queensland-based rail haulier Aurizon, despite saying that the price is not a fair one. An independent expert appointed by Aquila following the bid from Baosteel and Aurizon in early May has told the resources company’s board

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07 Jul

BHP billion: Japanese iron ore milestone met

Australian mining giant BHP Billiton has marked a significant milestone in its iron ore mining and export program in WA. Jimmy Wilson, BHP’s president for iron ore, joined marketing and technology president Mike Henry in Port Hedland where they met with representatives from joint venture partners ITOCHU and Mitsui to mark the billionth tonne of

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04 Jul

Public outrage at Glencore tax tactics

Three classic public gripes are at the fore of a heated war of words between the Sydney Morning Herald, coal miner Glencore, and the Australian public, over how much tax the mining giant is (or isn’t) paying. A producer and marketer of a variety of mined and agricultural commodities on the global scene, Glencore’s core

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