Adani to go ahead with polemic Carmichael coal mine after all

Indian conglomerate Adani Group has decided to go ahead with its $12 billion (A$16bn) Carmichael coal mine and rail project in Queensland, Australia, one of the world’s largest thermal coal mines approved in recent years. The decision comes only days after the conglomerate agreed to pay the state hefty royalties on the coal produced there[…]

Dozens trapped, two killed in Iranian coal mine explosion

Two coal miners have died and more than 50 remain trapped after an explosion in a mine located in Iran’s northern Golestan province. Speaking to Press TV, the English-language arm of Iranian state television, the head of the provincial Red Crescent, Hossein Ahmadi, said there were 26 people trapped. Sadegh Ali Moghadam, the provincial director general[…]

South32 buys stake in Canada’s Arizona Mining for $81 million

Australia’s South32 (ASX, LON, JSE:S32) is investing some of its $1.5 billion of cash in a minority stake in Canada-listed Arizona Mining (TSX:AZ), which plans to develop a zinc-lead-silver project in Arizona. Deal comes only two weeks after South32 walked away from a $200 million planned acquisition of Peabody Energy’s coal mine in New South Wales. As part of[…]

BHP puts US shale assets back on the block amid investors pressure

Mining giant BHP Billiton (ASX, NYSE:BHP), (LON:BLT) is once mulling the future of its US-based Fayetteville shale gas assets to focus on more lucrative opportunities in oil, but said decision was not related to activist investor Elliott Management’s call earlier this month for an overhaul of the firm. The company, which last year logged its largest-ever[…]

Australia greenlights Rio Tinto’s $2.45bn sale of coal mines to Yancoal

Australian authorities have given Yancoal (ASX:YAL), the subsidiary of China’s Yanzhou Coal Mining, the green light to go ahead with its planned $2.45 billion acquisition of Rio Tinto’s (ASX, LON:RIO) thermal coal assets in the Hunter Valley. The Coal & Allied unit includes Rio’s stakes in the Hunter Valley Operations mine, Mount Thorley and Warkworth mines, as well[…]

BHP Billiton to escalate defence from Elliott with Goldman’s help

BHP Billiton (ASX: BHP) (LON:BLT) is working with Goldman Sachs Group Inc. on a detailed response to activist investor Elliott Management, which yesterday issued a 10-page letter calling for major changes at the world’s largest mining company. The bank’s involvement in the issue is nothing new, people with knowledge of the matter told Bloomberg. In fact,[…]

BHP rejects activist fund Elliott urge to spin off US oil assets

BHP Billiton (ASX: BHP) (LON:BLT), the world’s largest mining company, has rejected a push by activist investor Elliott Management to unlock shareholder value by spinning off about $22 billion of its US oil assets and list them in New York. The hedge fund manager’s demerger proposal, BHP said in a statement, included the suggestion of[…]

Cyclone damage causes BHP to declare force majeure in Australia

World’s largest miner BHP Billiton (ASX:BHP) said on Wednesday it won’t meet its coal export commitments due to the damage caused by a cyclone that struck Australia’s north-east coast last week. Damage to rail lines in cyclone-hit Queensland have disrupted the shipment of between 15 million and 20 million tonnes of coking coal destined to[…]

Canada's Gov't gives mining explorers a full extra year of tax credit

Canada has decided to extend the Mineral Exploration Tax Credit, which was ending on March 31, for a full extra year, the country’s natural resources minister announced Sunday evening. Speaking to media attending the 85th version of the Prospectors & Developers Association of Canada’s (PDAC) International Convention in Toronto, minister Jim Carr said the 15% mineral[…]

Mining industry leaders meet again at PDAC 2017

The Prospectors & Developers Association of Canada’s (PDAC) International Convention, one of the world’s leading minerals and mining events, kicked off Sunday amid increased optimism in the global industry. Now in its 85th year, this annual event brings together the industry from around the world to downtown Toronto. More than 22,000 attendees from 125 countries were[…]