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General


WA future fund set to hit $4.7B

18 May 2012
A ROYALTY-fuelled future fund which is set to grow to $A4.7 billion over the next two decades along with the prospect of higher royalties as part of a planned revamp, are the big ticket items for miners from this year’s Western Australian budget.  - more

Foreign Investment

Australia attracting more foreign investment

17 May 2012
AUSTRALIA’S strong economy has made it one of the top 10 destinations for foreign direct investment with figures showing a rise of 6.6% last year to a record $A507 billion.  - more

Pluton and Chinese partner agree on $70M package


GE offers $470M for Industrea


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Crocodile completes Victorian buy-up


Mt Garnet funds secured


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Breaking News


Buy, Sell, Hold: Independence Group and Blackham Resources

TOUGH times are over for Independence Group and Blackham Resources gets the thumbs up.  - more

Government defers Oakajee funding

THE troubled Oakajee port and rail project in Western Australia’s Mid West remains in limbo and is just one of 30 projects deferred as part of a restructure of the state government’s capital budget requirements.  - more

Xstrata launches Virgin Brisbane-Mt Isa route

FOR the first time in more than a decade, Qantas will face competition in servicing Queensland’s Mount Isa community, after Swiss mining giant Xstrata inked a deal with Virgin Australia to operate flights between the northwest town and Brisbane.  - more

Finders revises Wetar capital costs

EMERGING copper miner Finders Resources has used the backdrop of a revised bankable feasibility study on its Wetar heap leach project in Indonesia to reiterate that a review of the country’s regulation laws will not hinder the proposed development.  - more

Training, infrastructure top priority in budget

WESTERN Australian Treasurer Christian Porter has announced plans to inject $A77.6 million into an initiative that aims to alleviate the state’s growing skills shortage.  - more

Swan to encourage Olympic Dam expansion

AUSTRALIAN Deputy Prime Minister and Treasurer Wayne Swan says he will do everything he can to encourage mining giant BHP Billiton to proceed with its $A20 billion Olympic Dam expansion in South Australia.  - more

WA future fund set to hit $4.7B

A ROYALTY-fuelled future fund which is set to grow to $A4.7 billion over the next two decades along with the prospect of higher royalties as part of a planned revamp, are the big ticket items for miners from this year’s Western Australian budget.  - more

Polishing a sizeable Pilbara business

A GROWING ground position, cash flow this year, experienced operators and a dozen gold deposits ensure a profitable future for this project developer. By Susan Bower - RESOURCESTOCKS*  - more

BMA poll results today as strikes loom

BHP Billiton Mitsubishi Alliance is bracing for an escalation of industrial action by three key unions next week across its seven mines in Queensland’s Bowen coal region after the results of a ballot for 4000 of its employees on its proposed enterprise agreement are revealed today.  - more

Capital Watch: KBL, Boss and more

IN Capital Watch today: KBL and Boss find support for placements, Marmota, Pegasus and Genesis complete rights issues and Winmar and Admiralty finalise raisings.  - more

BHP pulls plug on Altia JV

MINING giant BHP Billiton has withdrawn from the Altia zinc-silver joint venture with Breakaway Resources and while managing director David Hutton has admitted the company is disappointed, the project is far from dead.  - more

Mining Briefs: Tiger, Quintessential, Dragon and more

DRILLING is the order of the day in Mining Briefs, with updates for Tiger, Quintessential, Dragon and Korab while Phosphate Australia releases a metallurgical update and Eastern Iron makes a specialist appointment.  - more

Metals Finance launches dedicated nickel vehicle

METALS Finance’s aspirations to develop its own dedicated nickel vehicle to spearhead its laterite quests in Australia has moved a step closer with the appointment of Mark Sykes as manager.  - more

Japan shows the way on rare earths

JAPANESE companies are showing considerable grit in obtaining rare earths. They have to if their industry is to survive. The Outcrop by Robin Bromby.  - more

Paladin building dreams: Borshoff

AS ITS hunt for strategic partners ramps up, Paladin Energy boss John Borshoff says he doesn’t blame parties for wanting to be involved with his company as it continues to “turn dreams into reality”.  - more

IMX takes Continental

IMX Resources says its takeover of joint venture partner Continental Nickel will streamline ownership and development of the Nachingwea nickel project in Tanzania.  - more

Australia attracting more foreign investment

AUSTRALIA’S strong economy has made it one of the top 10 destinations for foreign direct investment with figures showing a rise of 6.6% last year to a record $A507 billion.  - more

Pluton and Chinese partner agree on $70M package

KEY commercial terms have been agreed for a proposed $A70 million funding package and equal joint venture with Chinese investor group Timeone Holdings over Pluton Resources’ proposed Cockatoo Island iron ore project in Western Australia.  - more

Diesel rebate cut never on the cards: Swan

AUSTRALIAN Treasurer and Deputy Prime Minister Wayne Swan has slammed rumours of a cut to the diesel fuel rebate in last week’s federal budget as “malicious” but stopped short of ruling out any further taxes on the mining industry.  - more

Revolving door costs mining $140M: report

THE high turnover of workers employed in Queensland’s booming mining sector is taking its toll, with a new report putting the cost at $A140 million per year.  - more

Chesser posts maiden Kestanelik resource

GOLD and base metals explorer Chesser Resources has released a maiden resource approaching half a million ounces at its flagship Kestanelik epithermal gold project in western Turkey.  - more

WA govt boosts mineral research coffers

THE Western Australian mining industry has applauded a state government move to inject $A7.5 million over three years to support ongoing mineral research in the state.  - more

News Wrap

IN THIS morning’s wrap: BHP fires salvo on industrial relations, tax; mining leads wages higher; Adani boss dumped as mine awaits approval; and Coalition cautions on green spending.  - more

Groundhog day

IT IS groundhog day for global markets, which continue to struggle to shake off negative sentiment as spooked investors closely monitor events in Greece as it teeters on the edge of bankruptcy, while commodities have again taken a hit.  - more

Miners lead the losses

THE miners have led the losses on the local market, with Greece yet again causing investment jitters while lower machinery orders from Japan for March and a continuing drop in commodity prices did not help matters.  - more


Commodities


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Commodity   Current Price ($US) Change ($US) Change (%) Previous Price ($US)
LME Indicative          
Copper - Cash   7694.50 -0.50 -0.01 7695.00
Copper - 3Mth   7649.00 -1.00 -0.01 7650.00
Lead - Cash   1913.50 -46.25 -2.36 1959.75
Lead - 3Mth   1926.50 -44.50 -2.26 1971.00
Zinc - Cash   1897.00 -2.50 -0.13 1899.50
Zinc - 3Mth   1900.00 2.00 0.11 1898.00
Nickel - Cash   17130.00 188.00 1.11 16942.00
Nickel - 3Mth   17195.00 190.00 1.12 17005.00
Tin - Cash   19165.00 -475.00 -2.42 19640.00
Tin - 3Mth   19200.00 -475.00 -2.41 19675.00
Aluminium - Cash   2014.25 20.75 1.04 1993.50
Aluminium - 3Mth   2054.00 19.00 0.93 2035.00
Comex          
Gold - Jun 12   1574.00 -0.90 -0.06 1574.90
Silver - May12   28.00 0.83 3.04 27.17
Copper - Jul12   346.40 -1.50 -0.43 347.90
Nymex          
Platinum - Jul 12   1454.70 1.30 0.09 1453.40
Palladium - Jun 12   605.25 -0.60 -0.10 605.85
London Metal          
Gold (AM Fix)   1547.00 9.50 0.62 1537.50
Silver (Fix)   27.48 0.23 0.84 27.25
Energy          
WTI   92.56 -0.25 -0.27 92.81
U308 Spot   52.00 0.00 0.00 52.00
Currencies          
$A/$US   0.9888 0.0000 0.0000 0.9888
STG / $US   1.5787 -0.0010 -0.0633 1.5797
Euro / $US   1.2688 -0.0010 -0.0788 1.2698
Euro / $A   1.2832 -0.0010 0.0810 1.2842
TABLE: Friday, May 18, 2012, 12:00am GMT


Most Popular Stories


Dryblower on the great conversion of BHP Billiton

NOT since the conversion of St Paul on the road to Damascus has Dryblower heard of a more dramatic transformation than BHP Billiton’s revelation that it is not so much a mining company as a business focused on shareholder returns.  - more

Paladin building dreams: Borshoff

AS ITS hunt for strategic partners ramps up, Paladin Energy boss John Borshoff says he doesn’t blame parties for wanting to be involved with his company as it continues to “turn dreams into reality”.  - more

Revolving door costs mining $140M: report

THE high turnover of workers employed in Queensland’s booming mining sector is taking its toll, with a new report putting the cost at $A140 million per year.  - more

BHP pulls plug on Altia JV

MINING giant BHP Billiton has withdrawn from the Altia zinc-silver joint venture with Breakaway Resources and while managing director David Hutton has admitted the company is disappointed, the project is far from dead.  - more

Japan shows the way on rare earths

JAPANESE companies are showing considerable grit in obtaining rare earths. They have to if their industry is to survive. The Outcrop by Robin Bromby.  - more

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