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Recent News Stories

  • Drilling to commence at massive IOCG target in Australia

      Drilling of a massive anomaly in South Australia with multiple deposit-scale target zones will begin in a bid to unearth a world class copper-gold resource. The Torrens Project is located about 80km southeast of the Olympic Dam Mine in Outback South Australia and is a joint venture between Aeris Resources (70 per cent) and Argonaut Resources (30 per cent). Argonaut Resources today announced that

  • Mining industry’s adoption of blockchain not a question of if, but when

    Mining industry’ adoption of blockchain is not a question of if, but when — report By cutting out paper, improving tracking and allowing data sharing, blockchain is set to revolutionise mining as we know it. Blockchain technology and the smart contracts it enables are the next step in the evolution of the mining and metals global supply chain, according to a paper published Thursday by

  • Adani edges closer to construction with rail progress

      Adani has submitted a conceptual operating plan to initiate the connection of its planned narrow gauge rail line to the Carmichael coal project in Queensland. The submission triggers a regulatory process that, subject to Adani satisfying a range of conditions, would allow connection of the Indian company’s rail line to the existing network for transport of coal to Abbot Point for export. Adani Mining

  • Rio Tinto to share Australian coal sale proceeds with $4.4b buyback

      Rio Tinto has revealed a share buyback as the mechanism by which it will return $US3.2 billion ($4.4 billion) to shareholders from the recent sale of Australian coal assets. The mining giant said it would combine an off-market buyback targeting up to 41.2 million shares worth about $US1.9 billion with further on-market purchases. All the shares purchased will be cancelled. Chief executive Jean-Sebastien Jacques

  • WEG expands and modernises Watt Drive machinery in Markt Piesting, Austria

      WEG, a leading global manufacturer of motors and drive technology with over 30 production sites around the world, has recently competed a major investment in the modernisation of machinery at its subsidiary Watt Drive Antriebstechnik GmbH in Markt Piesting, Austria. In an initial step, the Austrian gearbox specialist has taken delivery of a new 1.1 million Euro production machine. Installation took place in early

  • Coal exports from top shipper hobbled with miners facing constraints

    Coal exports from Indonesia will be restrained this year, which could frustrate a plan by the government to ease a burgeoning trade deficit while keeping prices elevated, according to an industry group. Producers in the world’s largest shipper face an order backlog of 18 months as they can’t get hold of additional mining equipment, Pandu Sjahrir, chairman of the Indonesian Coal Mining Association, said in

  • Calls for government support for local mining

    The Chairman Lakhra of Coal Management Sindh Abdul Samad Raisani has called upon the government to promote the local mining by discouraging coal export abroad in order to save valuable foreign exchange of six million US dollar daily. Abdul Samad Achakzai along with representatives of all stakeholders said that Pakistan possessed rich mineral resources particularly coal and there is the need to utilize the huge

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