Australia’s Bluescope Full Year Net Loss Improves, Albeit Only Marginally
BlueScope Steel Ltd's financial performance for the 12 months to June 30 has improved, albeit marginally, after posting a full year net loss of $1.044 billion, up by one per cent than the $1.054 billion a year ago.
3rd Quarter Profit of Australia's ANZ Up 10%
Cost cuts and a business expansion in Asia have proven to be an effective business strategy for the Australia and New Zealand Banking Group as third-quarter profit jumped 10 per cent from a year ago.
Newest Copper and Gold Mine in Ankata Inaugurated
South Australia has a new underground copper and gold mine, as Oz Minerals launched on Friday its latest project development at Prominent Hill.
More Mining Taxes Could Mean More Job Cuts in Queensland
For every cause, there will always be a corresponding, resulting effect.With prices of commodity on the downhill, coupled with growing operating costs, Queensland miners may be forced to slash jobs if only to be able to comply to a proposal to increase mining royalties in the Australian state.
Molycorp Shares Slip Further on Financing Plan
Shares of Molycorp Inc. dropped to a year low on Thursday after the cash-strapped rare earths miner announced on the same day plans of selling a combination of stock and debt in order to raise as much as $517.5 million to help fund operations at its California mine.
CITIC's Iron Ore Project in Western Australia Delayed Yet Again
The trial production of the $US8-billion iron ore project of China's CITIC Pacific Ltd in Western Australia has again been moved to November, delayed three months later than last announced.
BHP Hints of More Job Cuts
Saddled by the continued deterioration of the global market, coupled with a slowing appetite from its major market importer, BHP Billiton has warned it would need to undertake more job cuts at its Australian operations.
China Posts Biggest FDI Decline This Year In July
Foreign direct investment (FDI) in China for the month of July has narrowed down by 8.7 per cent compared to a year ago, latest data released by the Commerce Ministry on Thursday showed, affirming what could really be a slow economic rebound for the Asian country.
Barrick Gold Mulling Divestment of African Stakes – Report
Barrick Gold, after partially floating African Barrick in 2010, has been reported to be mulling further divesting its 74 per cent hold in the African project, the Financial Times reported on Thursday.
India's Low Rainfall to Affect Rice Production, Exports
A looming rice supply shortage could occur in the next few months as the poor monsoon and low rainfall in India, the world's second-biggest grower, hampers the nation's rice output, the International Food Policy Research Institute (IFPRI) said.
US Export-Import Bank Interested To Fund Roy Hill Project
No less than the United States’ Export-Import Bank (USEXIM) is interested to help Australia’s richest woman fund her company’s Roy Hill project.
Australia Rolls Out Body Scanning Equipment in Airports Starting November
International frequent travellers might as well start to practice the feeling of being bodily scanned by a $230,000 worth security machine as Australia starts to roll-out those humongous equipment effective November 2012 in all its international airports.
University of Melbourne, 4 Other Australian Institutions, Make It To Top 100 Global Universities in 2012
Five universities from Australia, led by the University of Melbourne, have been included in the latest Academic Ranking of World Universities (ARWU), released on Wednesday, a feat to be considered five years after the country decided to invest heavily into a world-class university system.
Australian Wheat Production at Risk As Weather Bureau Confirms Brewing El Niño
Australian wheat production, expected to slide this year from a record high 2011/12 season, could be further exacerbated as the country's weather bureau confirmed on Tuesday the emergence of the El Niño weather phenomenon.
Jobs at India Threatened by Coal Importation
India's massive coal importation, spurred by the sector's belief that local coal has poor content and low quality, has led to the unfortunate downsizing of employment in the coal sector.
ILVA, Italy’s Largest Steelmaker to Close Shop, Thousands of Jobs at Risk
A manufacturing plant in Taranto, Italy by ILVA, Italy's largest steel maker, may be forced to close shop after a court ruling released over the weekend ordered the particular plant cannot fabricate steel while in the process of carrying out court-ordered improvements to its production line in light of the environmental and public health hazards it has created to its community.
Court Ruling May Force Plant of Italy’s Largest Steelmaker to Close Shop, Thousands of Jobs At Risk, Govt Intervenes
A manufacturing plant in Taranto, Italy by ILVA, Italy's largest steel maker, may be forced to close shop after a court ruling released over the weekend ordered the particular plant cannot fabricate steel while in the process of carrying out court-ordered improvements to its production line in light of the environmental and public health hazards it has created to its community.
New Zealand Bonds in China’s Radar
With the economy of New Zealand showing signs of stability and moderate growth, more and more nations are interested to invest in its bond market, particularly China.
Aquila Resources Reviews West Pilbara Project, Slashes Budget Expenditure
Turned off by the weaker macroeconomic environment hitting the world commodities market today, Aquila Resources Ltd. on Monday announced it will slash the budget expenditure it had initially allotted on its flagship iron ore project in Western Australia.
Australian BlueScope Steel Enter $1.4B JV With Japanese Steelmaker Nippon Steel Corp.
BlueScope Steel, Australia's largest steelmaker, on Monday announced it is poised to create a $1.4 billion joint venture with Japan's Nippon Steel Corp., after agreeing to sell half of its coated products operations also to the latter for $US540 million.
Higher Gold Prices Boosts Fullyear Profit of Newcrest Mining, Shareholders to be Rewarded
Shareholders of Newcrest Mining Ltd are in for good news after the gold miner reported on Monday achieving a $1.12 billion profit for the year to June 30, its second year in a row.
Perth is Australia’s Most Expensive Night Out Destination – TripAdvisor
And Australia's most expensive night out destination award goes to Perth, which, according to TripAdvisor's TripIndex 2012, would charge $430.83 for two people just to spend a night at a four-star hotel, tour the city on a round-trip via taxi, get to enjoy cocktails at a five-star hotel bar and enjoy dinner with wine.
After 50 Years, Australia’s Westfield Divorces AMP Capital, Negotiating Asset Reallocations – Report
Industry kibitzers are abuzz with combined anxiety, excitement and speculation after a report over the weekend revealed that Westfield Group (WDC) and its offshoot Westfield Retail Trust have divorced from AMP Capital after 50 years of blended bliss enveloping shopping centres with a combined $6 billion worth.
Australia, With Deflated Ego, Accepts Final 10th Standing in London Olympics 2012 Closing
With seven gold, 16 silver and 12 bronze medals, Australia, with a deflated ego, accepted its final tenth standing on the medal table at the closing of the 2012 London Olympics on Sunday.
Foreign Skilled Workers To Supplement, Not Replace, Australian Workers
The 457 work visas programme extended to foreign skilled workers are not in any way meant to fill jobs meant for the Australians, a new study revealed.
China to Set National Pricing System for Rare Earths
Apart from the trading platform it launched to monitor prices of rare earths in the global market, China has proposed to institute a national pricing system for the precious metals that is target for implementation in September.
Iron Ore Holdings Weaning Out From Iron Ore Sector?
Ironic that for its name, Iron Ore Holdings seem to be more interested acquiring coking coal related assets than those in the iron ore business.
China, N. Korea to Co-Develop Gold, Iron Ore Mines – Report
A Chinese firm has signed into a cooperation deal to jointly develop a gold mine and two iron ore mines in North Korea.
Lodestone Iron Ore Discovery Put Up for Sale – Report
Gindalbie Metals, the company that discovered the Lodestone iron ore deposit, has put up for sale the 1.5 billion tonne magnetite resource, a report by Deal Journal Australia said.
Regis Resources Acquires For $150M McPhillamys’ Gold Project, Shares Up
In a script deal worth $150 million, Regis Resources has acquired one of the largest gold discoveries in New South Wales over the past decade, the McPhillamys gold project.