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POSCO acquires Ravensthorpe stake from First Quantum

Canada’s First Quantum Minerals has sold a 30 per cent share of the Ravensthorpe nickel operation in Western Australia to South Korean steel-making company POSCO for $US240 million ($310 million). First Quantum will retain a 70 per cent share in the nickel facility and will continue as the operator. POSCO and First Quantum have agreed to evaluate a strategic partnership

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Trade surplus touches new high on iron ore demand

Record demand for iron ore has lifted Australia’s goods trade surplus to a new peak of $13.3 billion. Australian Bureau of Statistics preliminary figures for the month of June show exports ballooned eight per cent to $41.3 billion, with significant increases in metalliferous ores, coal, non-monetary gold and gas. Exports of metalliferous ores reached $20.5 billion, marking a fourth consecutive

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Australian mineral facts

Australian mineral facts Major mining and mineral deposits in Australia. Source Geoscience Australia. Australia produces 19 useful minerals in significant amounts, from over 350 operating mines. From these minerals, useful materials such as metals can be extracted. Australia is one of the world’s leading producers of bauxite (aluminium ore), iron ore, lithium, gold, lead, diamond, rare earth elements, uranium, and zinc. Australia also has large mineral sand

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Mineral and petroleum industry activity review 2020

Mineral and petroleum industry activity review 2020 Key indicators of the overall performance of the resources sector include the number of people employed, the level of investment and exploration activity, royalties received by the State Government and the number of principal mining projects. Employment Western Australia’s mining, mineral exploration and petroleum industries employed an average of 140,941 people (113,056 in

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Iron Bridge project shoots up once again in costs

Fortescue Metals Group (ASX: FMG), the world’s fourth-largest iron ore producer, raised the cost estimate for its Iron Bridge magnetite project to between $3.3 billion and $3.5 billion, the second time this year. Initially, Iron Bridge was expected to cost $2.6 billion and, prior to this recent hike, its price tag had already risen to around $3 billion. In February

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LOOKING FOR A JOB IN THE MINES?

LOOKING FOR A JOB IN THE MINES? THE MINING INDUSTRY CAN BE TOUGH TO CRACK INTO BUT IT IS VERY REWARDING WHEN YOU GET THERE. BE OPTIMISTIC, BUT REALISTIC We appreciate you want to do everything you can to put yourself at the front of the queue for entry level positions. These positions are at the discretion of our clients

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NRW wins $123m Roper Bar contract

Nathan River Resources has contracted NRW Holdings at the Roper Bar iron ore project in the Northern Territory. The contract will see NRW cover stage one operations at Roper Bar, including drilling and blasting, loading and hauling, clearing and grubbing, top-soil and subsoil removal and rehandling ore stockpiles. The stage one of Roper Bar project is expected to produce 4.6

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