BHP Billiton reports record $8.29b loss
BHP Billiton has reported a record full year loss of $8.29billion as significantly weaker commodities prices hurt its bottom line.
Mining
BHP Billiton reports record $8.29b loss
BHP Billiton has reported a record full year loss of $8.29 billion as heavy writedowns and significantly weaker commodities prices hurt its bottom line.
$725m saviour or ‘terrible devastation’?
IT’S the $725 million project that has divided a community straight down the middle. Now it’s crunch time.
WA extends port discount for junior miners
THE WA government has extended the discount in port charges it offered to help junior miners cope with the downturn in iron ore prices.
BHP not exploring for iron ore, coal
BHP Billiton is staying away from large scale exploration in iron ore and coal, and will instead shift its focus to conventional oil and copper.
Coal workers strike over 43pc pay cut
MAINTENANCE workers at a coal mine south of Perth have walked off the job over a 43 per cent pay cut.
Mining’s hidden horror stories
WHEN you mine for a living, you keep your mouth shut if you want to keep your job. And here’s the problems it causes.
Rinehart’s Alpha coal mine faces challenge
THE future of Gina Rinehart’s Alpha coal mine in central Queensland is facing its latest legal hurdle in the state’s Court of Appeal.
Couple sues big bank for $2.5b
THEY were one of WA’s richest — and most controversial — couples, and now they’re back in a multi-billion fight with ANZ.
Whyalla wipe-out could take 5000 jobs
SOUTH Australia will lose more than $750 million and about 5000 jobs if Arrium’s Whyalla steelworks and mining operations close.
Fortescue to further trim its debt
FORTESCUE Metals is taking advantage of firmer iron ore prices to further trim its massive debt pile.
Fury against Palmer as axe falls
CLIVE Palmer is copping the brunt of anger among workers in Townsville as creditors vote unanimously to wind up Queensland Nickel.
Shift in strategy for big iron ore players
IRON ore majors, for long accused of pumping up volumes into an already oversupplied market, may finally be easing the pressure.
BHP cuts iron ore guidance again
BHP Billiton has cut its iron ore production target for the second time this year, on account of lower expected output at its operations in WA.
Rio trims 2017 guidance for iron ore
RIO Tinto has pared back its 2017 guidance for iron ore shipments by up to five per cent after facing delays in its driverless trains project in WA.
Clive Palmer could face five years’ jail
HE SAYS he’s done “nothing wrong”, but Clive Palmer could face jail time and bankruptcy over the likely collapse of his company Queensland Nickel.
‘Do your job!’: Palmer blows up at Kochie
CLIVE Palmer has blown up big time on morning TV, brushing off claims he acted improperly over his business interests.
Palmer and Kochie clash on Sunrise
IN a fiery interview with David Koch, Clive Palmer has slammed last night’s Four Corners program as ‘a big beat up’ and claimed the media are out to get him.
Queensland Nickel to be liquidated
A NEW blow this morning for Queensland Nickel, with administrators saying the company should be liquidated.
‘Driven by ego, money, power’
CLIVE Palmer’s once-loyal allies are turning on him in droves as new details emerge about his troubled businesses.
The town on ‘knife-edge’ of collapse
IT IS the second biggest regional town in South Australia but some say it could be wiped out in an instant.
Arrium bombshell could cost 8000 jobs
THE Federal Government has asked banks to allow Arrium to trade out of insolvency, with thousands of jobs now at risk.
What our biggest coal mine means
JOBS, wealth and the fast-track back to economic growth is up for grabs now that Australia’s biggest coalmine has been approved. But what are we giving up?
Beaconsfield miner almost broke
TEN years after the two Beaconsfield miners walked free, they still struggle to escape their two weeks underground.
‘Major step forward’ for mega mine
UPDATE: THREE key mining leases have been approved, paving the way for Adani’s Carmichael mega coal mine to go ahead.
Chinese gas investor buys $1b Santos stake
CHINA’s largest private gas company will buy a $1 billion stake in Santos, making it the Australian energy company’s biggest shareholder.
BHP boss bearish on iron ore price
BHP Billiton’s chief executive says he remains bearish about the iron ore price, more than any other commodity that the global miner deals in.
When will Clive stop passing the buck?
PALMER United Party leader loves pointing the finger when scandal strikes so much not even his five-year-old daughter is safe.
Palmer won’t commit to rehiring
THE future of almost 550 workers at Queensland Nickel remains in doubt, with Clive Palmer refusing to commit to rehiring them.
Palmer’s management ‘piss-poor’
A FEDERAL MP has delivered some harsh words about Clive Palmer as workers at his Townsville refinery remain in the dark over the future of their jobs.
Surprise lifeline to Clive’s sacked workers
UPDATE: Clive Palmer’s embattled nickel refinery has received environmental approval to reopen, paving the way for 550 workers to be rehired.
Workers at Palmer’s refinery sacked
THE administrators of Queensland Nickel have sacked more than 550 workers at the refinery with employees told they’ll no longer have jobs after Friday.
Fortescue, Vale talk iron ore joint venture
UPDATE: FORTESCUE Metals is in talks with larger rival Vale to strike a deal that could give the Brazilian iron ore giant a stake in the Australian miner.
Clive’s losses felt in New Caledonia
WHY nickel drama for Clive Palmer could spell bad news for 300 people in the French overseas territory of New Caledonia.
Clive Palmer’s fortnight from hell
FROM a refinery explosion to the sale of his luxury jet, every day seems to bring a fresh drama for embattled billionaire and politician Clive Palmer.
Aussie mining firm finds $20m diamond
THE BIGGEST diamond ever to be discovered by an Australian company has been found in Angola, a 404-carat sparkler estimated to be worth $20 million.
Is the mining boom officially over?
MINING in Queensland is in a worse state than it’s been in for decades, with a third of coal mines not making money, a damning new report has revealed.
Palmer’s insult to sacked workers
EMBATTLED billionaire Clive Palmer says the rights of sacked workers from his Nickel refinery is not his problem — and his party won’t be helping either.
Palmer to ‘tell truth’ on refinery
CLIVE Palmer has promised to “tell the truth” about what happened with his struggling nickel refinery. But not just yet.
Could Clive’s big fail trigger a civil war?
AS CLIVE Palmer’s minerals empire crumbles, the President of New Caledonia is bracing for violence and political unrest if a nickel refinery closes.
Clive’s refinery goes into administration
UPDATE: Administrators have been appointed to Clive Palmer’s Queensland Nickel refinery following the sacking of almost 240 workers last week.
Oil slump costs BHP, asset values slashed
MINING giant BHP Billiton will write down the value of its US shale assets by $10.3 billion amid collapsing oil and gas prices and a gloomy short term outlook.
Big iron ore players to slash dividends
AUSTRALIA’S biggest iron ore miners are expected to slash dividends as the price of the steelmaking commodity dropped to $US40 a tonne overnight.
BC Iron shuts Pilbara mine, jobs lost
JUNIOR iron ore miner BC Iron will shut its key Pilbara mine due to falling iron ore prices, putting hundreds of jobs at risk.
Chevron cuts Perth staff as oil price bites
OIL and gas giant Chevron is cutting staff in Perth as part of a global workforce cull to combat low oil prices.
Clive Palmer ‘could go belly up today’
CLIVE Palmer’s nickel refinery could go belly-up today after he lost a court bid to force his former Chinese business partner to hand over $66 million.
Sinking iron ore price’s affects us all
THINK you are safe from the slumping iron ore price? Think again. The impacts are hitting more than just frustrated investors.
Wallabies star’s other epic battle
WALLABIES backrower David Pocock is preparing for battle in the Rugby World Cup final. But he’s got another fight on his hands.
Missing out on $10 billion cash cow
THIS controversial industry could add $9.5 billion and 20,000 jobs to our economy. Instead, we’re getting beaten by Kazakhstan.
Massive coal mine gets green light
THE Federal Government has approved a controversial coal mine and rail project in Queensland but green groups say it’s “a dangerous pipedream”.
Rinehart scores royalties win against Rio
UPDATE: BILLIONAIRE Gina Rinehart has had a multi-million dollar High Court win against mining giant Rio Tinto.
‘A slap in the face for South Australia’
A RADIO campaign by a lobbyist group has been slammed for its insensitive timing after it was announced that South Australia’s only coal mine will close next month.
Glencore to shed jobs in Australia
MINING giant Glencore plans to shed up to 535 jobs at its Australian operations after announcing it will cut its global zinc production by a third.
Glencore to make tough decisions
MINING giant Glencore says Australian coal mines will be shut down if the long downturn in commodity prices makes them unprofitable.
Company could trigger GFC 2.0
GLENCORE, the company which sparked Tuesday’s $60 billion rout on the ASX, could be the trigger for the next GFC.
Penis-measurer in diamond scam
AN AUSTRALIAN energy executive accused of drunkenly challenging a colleague to a penis-measuring contest has been charged in a $26 million “blood diamond” scam.
‘Another one will be game over’
IN THE waters off our coast, a gold mine is waiting to be plundered. The potential for profit, and disaster, is scarily high.
BHP defends dividend after profit fall
MINING giant BHP Billiton has defended its increased dividends and cut spending after annual profit halved to $US6.4 billion.
The town where mining is not welcome
THERE are some towns where the mining industry has been warmly welcomed. But tonight’s episode of Insight on SBS will reveal the towns where the opposition is fierce.
The making of a ghost town
THE mining downturn is devastating Australian towns, with entire populations are disappearing and leaving virtual ghost towns behind.
Palmer company loses port court battle
CLIVE Palmer’s Mineralogy has lost its long-running court battle with its estranged Chinese joint venture partner over the Cape Preston port in WA.
Coal mining giant’s bitter fight
AUSTRALIA’s biggest mining company, BHP Billiton, is in a perilous fight with angry locals over one of its most prominent projects.
$16.5 billion coal mine shot down
ENVIRONMENTALISTS have won a court case putting another roadblock in front of the controversial Carmichael coal mine in Queensland’s Galilee Basin.
Miners team up to promote WA’s gold heart
WEST Australia’s gold miners have joined forces to ‘champion’ the industry on day two of the Diggers & Dealers conference in Kalgoorlie.
Gina to ‘give half her fortune away’
WELL, no one saw this coming. A bitter legal dispute between the mining billionaire and her children may end in a massive payday for complete strangers.
Pilbara miner seeks return to trade
TROUBLED Pilbara miner Atlas Iron will resume trading shares from Monday.
Bad weather hits Rio Tinto production
BAD weather has achieved what rival miners and senior politicians have failed to do — rein in Rio Tinto’s iron ore production.
‘Secret’ heiress’s $25 million victory
SHE was the forgotten daughter of a mining magnate. Now she’s claimed a slice of the family fortune, and broken her silence.
‘F***ing useless’: Giant mine no one can stop
IT’S a $1 billion project that will swallow up 4000 football fields’ worth of prime agricultural land. And despite angry protests, no one appears to be able to stop it.
‘She made the dream come true’
HER kids slammed it as a “PR exercise”, but a rare, interview with Australia’s richest citizen, Gina Rinehart, posed an interesting question: Should we take more pride in her achievements?
Pilbara iron exports up, price drops again
IRON ore exports from Port Hedland, the world’s largest iron ore port, hit a record high in June as prices continue to fall.
The other side of Australia’s iron lady
SHE’S Australia’s richest woman – and one of its most private. Now a new documentary is set to show a different side to Gina Rinehart – and it features a most surprising Aussie singing her praises.
Shocking trend in this tiny US town
WHEN midwife Donna Young noticed a shocking trend of babies being born with fatal defects in her small town, it kicked off a Erin Brockovich-style crusade against powerful vested interests.
Gina wants workers to take pay cut
AUSTRALIA’S richest woman, Gina Rinehart, wants employees at one of her mines to accept pay cuts.
BHP cuts 140 jobs in Adelaide
BHP Billiton is cutting about 140 jobs in South Australia, mostly from its Adelaide support operations.
Slimmer Atlas ready for iron storm
ATLAS Iron boss David Flanagan is ready to battle the “blizzard” with plans to raise $180 million.
FIFO crisis: ‘mine rosters must change’
MINING companies are under pressure to change fly-in, fly-out rosters following warnings in a parliamentary report into mental health issues. Have your say
Atlas founder Flanagan rolls up sleeves
ATLAS Iron founder David Flanagan is preparing to steer his troubled company through uncharted waters with the support of loyal contractors.
‘I have two children to feed’
HE once blew $5000 of union money on prostitutes, now ‘desperate’ former Labor MP Craig Thomson has taken a surprise new job to make a buck.
Huge slump in construction work
THE amount of construction work completed in Australia had its largest fall in almost 14 years, dragged down by a record slump in the mining sector.
Original URL: https://www.news.com.au/finance/business/mining/page/29