Archived News for Industry Professionals
Mining and materials group, OneSteel Limited has announced a statutory net loss after tax of $74 million for the six months ended 31 December 2011, compared to the statutory net profit after tax for the prior corresponding half of $116 million.
Included in the statutory result is an impairment charge of $130 million related to the write down of the assets of the LiteSteel Technologies businesses in the US and Australia, as announced in December.
Underlying net profit after tax from continuing operations for the first half was in line with guidance at $78 million, compared to $133 million for the prior corresponding half.
Rio Tinto to introduce driverless trains to the Pilbara
Rio Tinto has announced it will run the world's first automated long-distance heavy-haul rail network, with a US$518 million investment (Rio Tinto share US$478 million) in driverless trains.
Coffey announces appointments
Consultancy giant Coffey has announced the appointments of Leeane Bond and Guy Cowan as the company’s new Non-executive Directors, taking effect from 27 February. The announcement comes as Charles Jamieson and Stephen Williams plan to step down from their positions.
Fortescue buys IOH Iron Valley mine
Fortescue Metals Group has signed a Memorandum of Understanding for the purchase of Kerry Stokes's Iron Ore Holdings to include IOH’s Iron Valley in an expanded Nyidinghu development and mining program in the Pilbara.
Marine Supply Base contract awarded
The Northern Territory Government has announced the signing of a $104 million contract to build and operate a new oil and gas Marine supply Base at East Arm.
GA Mineral Exploration Review released
Geoscience Australia has released the Australian Mineral Exploration Review 2011, highlighting exploration expenditure and results from selected drill intersections announced by individual exploration and mining companies during 2010/11.
Mining industry claims 'stabilising influence' on NSW economy
The NSW Minerals Council has claimed that the minerals industry is playing a significant part in bolstering the NSW state economy.
NSW lifts ban on uranium exploration
The NSW Government has introduced legislation into Parliament overturning the ban on uranium exploration in NSW.
Queensland signs up to CSG agreement
Queensland has become the first state to sign up to the newly strengthened regulatory framework for coal seam gas and large coal mining developments.
Discussion paper on SA minerals and energy infrastructure proposals released
The South Australian Government has released a discussion paper on the recommendations developed by the Resources & Energy Sector Infrastructure Council (RESIC) to promote growth of the South Australian minerals and energy sector.
Report on Queensland mines shows safety improvements
The Queensland Mines and Quarries Safety Performance and Health Report 2010-11 is available at: www.mines.industry.qld.gov.au/safety-and-health/safety-performance-health-reports.htm
Newcrest reports record profit
Australia’s largest gold miner, Newcrest Mining has reported an underlying profit of $611 million for the half year to December, 17% higher than for the same period last year.
Rio to invest $3.17 billion in iron ore operations
Mining giant Rio Tinto has announced it will commit a further $3.17 billion to the major expansion of its Pilbara iron ore operations in Western Australia.
Senex continues Cooper Basin western flank drilling program
Senex Energy Limited, 60% owner and operator of the PRL 15 joint venture, has commenced drilling at the Growler-8 appraisal well in South Australia.
Growler-8 is the seventh well in the joint venture’s 11-well drilling program in PRL 15 and PEL 104, comprising five appraisal wells and six exploration wells targeting the Birkhead channel play on the western flank of the South Australian Cooper Basin.
The well is located on the western limb of the Growler oil field, 1,200 metres to the west of the Growler-1 discovery well and 600 metres southwest of Growler-7.
The Growler-8 appraisal well will seek to extend the mid-Birkhead channel reservoir encountered in the nine Growler wells drilled to date, seven of which are now in production. The well will also examine the potential of the lower Birkhead channel sand prognosed to be developed at this location.
The other partner in the joint venture is Beach Energy Limited, which holds a 40% interest.
High hopes for Core as drilling begins on Yorke Peninsula
Core Exploration has announced it will begin its diamond drilling program on the Yorke Peninsula minerals project in South Australia with the arrival of two diamond drill rigs at the site.
Core’s Managing Director, Stephen Biggins, said the commencment of the program followed extensive lead-up exploration work on the Yorke Peninsula project since the company listed on the Australian Securities Exchange 12 months ago.
The diamond drilling program comprises a total of 2000-2500 metres of drillingh, with holes to drill in excess of 100m into the basement target rocks.
“Our substantial set of six drill targets are coincident with the 12km long Palace structural zone within the company’s Yorke Pensinsula tenement. The sieable gravity feature have an inconsistent magnetic character which fits well with Core’s interpretation of these drill targets as structurally controlled, dense, IOCG (Iron Oxide Copper Gold) alteration with fluctuating magnetite and hematite content.”
Core’s large-scale gravity and magnetic drill targets are hosted in an analogous geological setting to Rex Minerals’ Hillside Project(inferred and indicated resource of 217Mt at 0.7$ copper and ).2%g/t gold) on the adjacent tenement.
Mr Biggins said that drilling will take approximately one month to complete, with first assay results expected to be reported in April.
“Our geologists will be looking at the new drill core for the same style of mineralisation and alteration as seen nearby at Rex’s Hillside discovery.”
Theiss wins QGC contract
Construction giant Theiss has won a $325 million contract from coal seam gas explorer and producer QGC to construct gas-processing facilitates for the Queensland Curtis LNG Project (QCLNG).
Low carbon oil researcher wins RACI medal
Professor Thomas Maschmeyer, Professor of Chemistry and ARC Future Fellow at the University of Sydney, has been awarded the Royal Australian Chemical Institute’s 2011 Applied Research Medal For his work on catalysis and sustainable processes, including developing methods to create low carbon crude and heavy fuel oil substitutes.
SA launches resources discussion paper
The South Australian Government has launched a discussion paper with an aim to ‘allow South Australians a voice in building future investment in key nation-building projects’.
Mining drives job advertising
ANZ has released its Job Advertisement Series for January, finding that the number of advertised places has boomed in the country’s mining states, while recording a stablising of advertisements in non-mining regions.
Theiss wins $1 billion mining contract
Theiss has announced it has won a six-year mining contract to extend mining operations at OZ Mineral’s Promionent Hill Copper and Hold Mine in South Australia.
Downer EDI wins $570m Karara Iron Ore contract
Downer EDI Limited has been awarded a six year magnetite mining contract with Karara Mining Limited (KML) for the provision of services at the Karara Iron Ore Project in Western Australia.