China's miners to step up overseas push

China's iron ore imports are expected to increase 6.3 per cent to 850 million tonnes this year, about half of which will come from Australia. Photo: Bloomberg

Chinese mining companies will be on the prowl this year to acquire more firms or forge joint ventures in regions ranging from Africa to Latin America to Southeast Asia as they try to feed the country's voracious appetite for the iron ore and precious and industrial metals vital for an economy that has slowed but is still expanding at a healthy clip.

Saturday, 5 April, 2014, 1:54am

Running out of cash, Australian miners get creative to survive

Australian miners are resorting to innovative means to cut costs as they struggle to ride out the slowdown in China, their biggest market. Photo: Reuters

From pooling office space to paying bills with company stock, small and mid-sized Australian miners are finding new ways to stay afloat during one of the sector’s worst downturns.

31 May 2013 - 2:12pm

Australia budget blues in land of mining boom

Australian Treasurer Wayne Swan economic stewardship through the global downturn earned him Euromoney’s Finance Minister of the Year in 2011. Photo: EPA

As China’s economy slows and Australia begins its painful transition away from a decade-long mining boom, Treasurer Wayne Swan will have little to offer voters seeking an election-year spending spree Tuesday.

13 May 2013 - 11:14am

Don't count on a US energy boom

Production of shale gas has soared in the US in the past 10 years. Photo: MCT

Which of the following statements is true? The US now has a 100-year supply of natural gas, thanks to the miracle of shale gas. By 2017, it will again be the world's biggest oil producer. By 2035, it will be entirely "energy independent", and free in particular from its reliance on Middle Eastern oil.

4 Jan 2013 - 3:48am

Nautilus Minerals drops underwater goldmine plans

Geologists with Nautilus Minerals examine a drill core sample. Photo: NYT

A London-listed company's plans to create the world's first underwater goldmine on the Pacific seabed have hit the rocks. Nautilus Minerals' problems come as China and Russia's duel for riches at the bottom of the ocean intensifies.

3 Jan 2013 - 6:08am

Diaoyu Islands dispute about resources not land

The disputed islands in the East China Sea. Photo: AFP

The disputes are all over the map. But the long-standing row between Beijing and Tokyo over the Diaoyu Islands is not simply a question of geography and national pride, but a battle for resources, economic benefits and strategic interests.

4 Dec 2012 - 4:36am 2 comments

Borneo sees divorce for Bumi Indonesian partners

Financier and co-chairman of Bumi Plc Nathaniel Rothschild (L) sits with Bakrie & Brothers chief executive Officer Bobby Gafur Umar in 2010 after clinching an agreement. Two weeks after proposing a divorce from Rothschild, the Bakrie family has now agreed in principle to compensate Samin Tan for his soured US$1 billion investment in their joint Bumi Plc stake. Photo: Reuters

Indonesia’s Bakrie family has agreed in principle to pay compensation to coal tycoon Samin Tan for his soured US$1 billion investment in their joint stake in Bumi Plc, meaning a “divorce” in the partnership, executives at Tan’s firm said on Thursday.

25 Oct 2012 - 4:16pm

Rating agency S&P says no respite for iron ore miners

Rating agency Standard & Poor's does not expect any relief for iron ore prices, possibly bringing pressure to bear on smaller producers. Photo: AFP

Global credit agency Standard & Poor’s said it saw little improvement in iron ore prices in the near-term and warned that smaller single-commodity miners could see their ratings slip.

2 Oct 2012 - 2:14pm

China Shenhua Energy takes on parent group's new coal, power assets

China Shenhua Energy, the listed unit of the nation's biggest coal producer, the Shenhua Group, plans to buy a coal-to-liquid fuel and chemicals project, coal mines, and coal and power assets recently acquired by its parent from the State Grid Corp of China.

28 Aug 2012 - 3:38am

Australia's top central banker reassures on mining, hints that interest rates are on hold

A businessman passes the Reserve Bank of Australia ( RBA) in Sydney. AFP: Torsten Blackwood

Australia’s central bank chief said on Friday there was no sign the mining boom is over and signalled that interest rates are likely to stay on hold unless there is a drastic change to its optimistic outlook for the economy.

24 Aug 2012 - 12:07pm

Tinkler abandons US$5.5bn Whitehaven bid as Oz mining boom loses steam

Tinkler abandons US$5.5bn Whitehaven bid as Oz mining boom loses steam

Nathan Tinkler has walked away from a US$5.5 billion bid to take Australia’s Whitehaven Coal private, Whitehaven said on Friday, with a source saying the electrician-turned-mining magnate was unable to line up enough funds.

24 Aug 2012 - 10:46am

BHP Olympic Dam decision shows boom is over -- Minister

BHP Olympic Dam decision shows boom is over -- Minister

Australia’s Resources and Energy Minister Martin Ferguson said on Thursday the resources boom, which had cushioned Australia against the global financial crisis, was over after top global miner BHP Billiton halted expansion of a major project.

23 Aug 2012 - 12:10pm

BHP Billiton profits slump by more than one third, Olympic Dam expansion review

File photo of a man walking past the head office of BHP Billiton in central Melbourne. MICK TSIKAS/REUTERS

Top global miner BHP Billiton shelved its planned US$20 billion Olympic Dam copper expansion on Wednesday as it reported a 35 per cent slide in second-half profit in the biggest sign of the pain inflicted by the slowdown in China’s economic growth.

22 Aug 2012 - 3:26pm