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General


Paladin building dreams: Borshoff

17 May 2012
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

Foreign Investment

Pluton and Chinese partner agree on $70M package

17 May 2012
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

GE offers $470M for Industrea


Mindax terminates Sumitomo deal


Honeymoon over for Mitsui


Cape Lambert awaits Supreme Court ruling


Victorian assets to take centre stage for Crocodile


Indian steel producer buys Apollo stake


Arafura executes non-binding deal with Korean group


Crocodile completes Victorian buy-up


Mt Garnet funds secured


Roy Hill equity structure formalised


  VIEW ALL STORIES on Foreign Investment





Dryblower

Dryblower on the great conversion of BHP Billiton

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Strictly Boardroom

The future of tin mining

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The Metal Detective

FMG outgunning Rio as iron ore punt

  - more


Outcrop

Today, fear eases. Tomorrow, who knows?

  - more



Breaking News


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

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

Skills, economy worrying workers

GROWING skills shortages plus the widening gap in Australia’s two-speed economy are top concerns for a majority of workers employed in the mining, industrial and manufacturing sectors, a survey has revealed.  - more

Moonlight shines bright

TRI-listed iron ore developer Ferrum Crescent has released a new JORC-compliant resource for the Moonlight deposit in the Limpopo province of South Africa, noting a jump in tonnages but a slight drop in grade.  - more

Project delays weigh on GR

PERTH-based GR Engineering Services has blamed continuing project delays for its full-year revenue forecast being on the low side of expectations at $A150-155 million.  - more

Rig utilisation on the up for Swick

SWICK Mining Services expects its fleet utilisation rate to reach 86% by the end of next month and its global underground diamond drilling rig fleet to hit 67 by December with the commissioning of six rigs.   - more

Aphrodite grows resources at namesake play

GOLD junior Aphrodite Gold has updated resources on its namesake property in Western Australia, pushing a large portion of the potential open pit material into the higher confidence indicated category.  - more

Paladin moves to resolve Kayelekera pay dispute

THERE is a good chance workers at Paladin Energy’s Kayelekera mine in northern Malawi will agree to drop demands for a 66% salary increase after the company moved to settle the dispute and restore full production at the mine.  - more

Gold oversold: Foster

GOLD has fallen below $US1600 an ounce and continues to weaken but Foster Stockbroking says gold is oversold and has highlighted its top stock picks among producers.  - more

Mining Briefs: Mineral Commodities, Carpentaria and more

A LOAN for Mineral Commodities, termination of a joint venture for Carpentaria, a government grant for Golden Cross, Germany beckons Proto and exploration updates for Horseshoe, Robust, Mining Group, Toro and Padbury are the Mining Briefs highlights.  - more

Getting the mud to stick (where it’s needed)

IN THIS game Supply Side has seen his fair share of mud slung. Never slung any myself you understand. Would never do that. But there are times when getting the mud to stick where it is needed is vital. By Noel Dyson  - more

Tiger lifts output at Kipoi plant

TIGER Resources continues to see impressive results from its Kipoi project in the Democratic Republic of Congo after producing 203 tonnes of copper concentrate in one day last week, 200% above the plant’s nameplate capacity.  - more

Alacer ups cost guidance

LIKE the rest of the market, shares in Alacer Gold have taken a hit this morning, despite the company’s solid first quarter financial results, though its cash cost guidance for the full-year has been revised up.  - more

GE offers $470M for Industrea

AMERICAN industrial giant General Electric is proposing to buy Industrea through a scheme of arrangement that values the Australian underground mining equipment manufacturer at $A470 million.  - more

VDM bags $38M in new contracts

MINING and civil contractor VDM Group continues to strengthen its balance sheet after scoring a handful of contracts, including a $A15 million deal to undertake work at CITIC Pacific’s Sino Iron project in the Pilbara region of Western Australia.  - more

Clancy increases Genesis bid

BASE and precious metals explorer Clancy Exploration has increased its script-based takeover bid for fellow junior Genesis Resources.  - more

Economic traps PNG needs to avoid

ECONOMIST Matthew Morris offered some interesting tips yesterday to prevent Papua New Guinea falling into the economic cesspool that has enveloped resource-rich countries like Nigeria and Angola.  - more


Commodities


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Commodity   Current Price ($US) Change ($US) Change (%) Previous Price ($US)
LME Indicative          
Copper - Cash   7695.00 -103.00 -1.32 7798.00
Copper - 3Mth   7650.00 -115.00 -1.48 7765.00
Lead - Cash   1960.00 -37.75 -1.89 1997.50
Lead - 3Mth   1971.00 -37.00 -1.84 2008.00
Zinc - Cash   1899.50 -35.75 -1.85 1935.25
Zinc - 3Mth   1898.00 -36.00 -1.86 1934.00
Nickel - Cash   16942.00 4.00 0.02 16938.00
Nickel - 3Mth   17005.00 10.00 0.06 16995.00
Tin - Cash   19640.00 -150.00 -0.76 19790.00
Tin - 3Mth   19675.00 -135.00 -0.68 19810.00
Aluminium - Cash   1993.50 10.25 0.52 1983.25
Aluminium - 3Mth   2035.00 10.00 0.49 2025.00
Comex          
Gold - Jun 12   1539.00 2.40 0.16 1536.60
Silver - May12   27.17 -0.88 -3.15 28.05
Copper - Jul12   347.25 -0.55 -0.16 347.80
Nymex          
Platinum - Jul 12   1433.50 1.30 0.09 1432.20
Palladium - Jun 12   594.10 -7.00 -1.16 601.10
London Metal          
Gold (AM Fix)   1537.50 -21.50 -1.38 1559.00
Silver (Fix)   27.25 -1.03 -3.64 28.28
Energy          
WTI   92.81 -1.17 -1.24 93.98
U308 Spot   52.00 0.00 0.00 52.00
Currencies          
$A/$US   0.9912 -0.0002 -0.0202 0.9914
STG / $US   1.5912 0.0002 0.0126 1.5910
Euro / $US   1.2716 0.0000 0.0000 1.2716
Euro / $A   1.2829 0.0002 -0.0171 1.2827
TABLE: Thursday, May 17, 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

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

FMG outgunning Rio as iron ore punt

FORTESCUE Metals Group’s current Solomon expansion won’t see it match Rio Tinto on export volumes but the Pilbara upstart may already be topping its global rival as the market’s best iron ore punt. The Metal Detective by Stephen Bell  - more

Primed for a top five copper spot

A MAIDEN resource in late 2011 led to this copper company attracting major support for its 70,000m drilling campaign and fast-tracked development program, all within just 18 months of listing. By Blake Wilshaw - RESOURCESTOCKS  - more

Alacer ups cost guidance

LIKE the rest of the market, shares in Alacer Gold have taken a hit this morning, despite the company’s solid first quarter financial results, though its cash cost guidance for the full-year has been revised up.  - more

Professional Placements


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    Alternate Underground Manager


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    Feasibility Study Manager - Mindax Limited


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