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
Read MoreThe 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
Read MoreA 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
Read MoreA 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
Read More$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
Read MoreThe 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
Read MoreUnions 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
Read MoreThe 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
Read MoreRussian billionaire Viktor Rashnikov is thought to have sold just under a sixth of his roughly 5% stake in Fortescue Metals Group, while credit agency Moody’s has downgraded the miner’s rating. The Australian reported this week that Rashnikov, through his company Magnitogorsk Iron and Steel, took advantage of a bounce in Fortescue’s share price last week
Read MoreFortescue Metals Group has enjoyed a significant share price bounce this week after it announced joint venture talks with Vale, and news from China drove iron ore prices upwards. ASX shares in Fortescue closed on Tuesday at $2.79 – up 29% over the last week. The Pilbara miner’s success was driven in part by the
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