BHP has approved plans to build a US$2.9 billion iron ore project in Western Australia’s Pilbara region, in a move which will add to a growing construction boom in the state. The South Flank iron ore project will replace a depleting mine in the region rather...
Gina Rinehart’s Redstone Corporation has reportedly purchased a significant stake in junior miner Atlas Iron, following in the footsteps of Andrew Forrest’s Fortescue Metals Group (FMG), which made a similar move last week. Redstone, a subsidiary of Rinehart's unlisted firm Hancock Prospecting, has taken a stake...
Australia is officially the largest producer of lithium in the world after overtaking Chile’s total output in 2017, according to data from United States Geological Survey (USGS). Australia produced 18,700 tonnes of lithium last year, most of which was sourced within the nation’s hard rock lithium...
Regulations to implement the Democratic Republic of Congo's new mining code have been signed into law with no changes, despite complaints from top mining firms operating in the country. DRC’s Prime Minister Bruno Tshibala’s advisor Patrick Mutombo Buzangu told Reuters that the regulations were signed into...
Fortescue Metals Group (FMG) has bought a 15% stake in Atlas Iron, along with a cash settled swap of 4.9%, taking its overall interest in the Australian iron ore junior to 19.9%. This aggregate physical and economic interest is enough to block a takeover of Atlas...
The net profit of the world’s top 40 mining companies surged by 126% last year according to a new report by global auditing firm PwC. The Mine 2018 report found that the net profit of the world’s top miners increased to $US61 billion in 2017, levels of collective...
Fortescue Metals Group has confirmed it will build a new large-scale iron ore mine in the Pilbara region of Western Australia, as part of its plans to increase the average grade of its iron ore output. The Australian mining giant will spend US$1.27 billion on the...
Latin American Minerals has announced an update on its drilling activity at its 15,020 hectare Paso Yobai Gold Project in Paraguay, where the focus has turned to a new gold zone. The Canada-based junior has two rigs operating at the project and has completed 11 drill...
Tesla has entered a three-year lithium supply deal with Australian miner Kidman Resources, who will provide refined lithium hydroxide to the electric vehicle manufacturer under the agreement. In a statement, Kidman said that the deal is structured on a fixed-price take-or-pay basis, meaning that Tesla will...
Tanzania has revoked a retention license for an undeveloped nickel project jointly owned by mining giants Barrick Gold Corp and Glencore. The Kabanga nickel project in Northwestern Tanzania was one of 11 projects that had its retention licenses cancelled by the government under the Mining (Mineral...