Posts Tagged ‘coal’

South Africa’s ruling party, the African National Congress, appears to be moving away from nationalization of the mining industry to reassure foreign investors but is considering other plans to increase state involvement in the sector, particularly with regard to platinum. According to the New Age paper the ANC report stressed that nationalization would be unaffordable, as the government would need to raise R1 trillion ... Full story

GOLD miner Newmont Mining is putting a final polish to the sale of its Queensland coal assets, with two overseas suitors in the picture. Full story

Australia’s mining machinery imports fell 62% in November and December, the biggest fall since the global financial crisis, according to one of the country’s largest freight forwarders of heavy equipment. In November and December imports of heavy machinery dropped more than 62% according to Skelton Sherborne which have been collecting this data since before 2008 crisis, suggesting that Australia’s mining boom may be falling ... Full story

With revenues of $60 billion last year and operations at the ends of the earth, few companies are in a better position to take the pulse  of the global economy and the resource sector than Caterpillar. The world’s number one heavy equipment manufacturer (NYSE: CAT) delivered record-breaking sales and revenues in 2011 supplying profits of just under $5 billion, up 83% from last year. ... Full story

A new survey out Tuesday shows South Africa’s appeal for mining investment has declined dramatically since 2006. Full story

Rural communities in Australia’s mineral-rich states are unhappy about the many working girls following highly-paid miners into their small towns. The local newspaper of one tiny settlement, Mackay, reports motel and hotel owners in the region are kicking out prostitutes using their rooms to ply their trade. Full story

If 2010 was the year of rising commodity prices, 2011 was the year of The Deal. This year two key factors conspired to make the environment for mergers and acquisitions particularly attractive to mining companies Full story

The violation notices keep coming in: broken safety equipment, underground roof collapses, dangerous levels of carbon monoxide — each a hint of the federal enforcement blitz set off more than a year ago by a series of deadly mining accidents across the nation. Full story

JOHANNESBURG (miningweekly.com) − Job seekers in the Australian mining and construction industry were likely to benefit from a favourable hiring climate in the first quarter of 2012, said recruitment solutions provider Manpower. Continue reading at Mining Weekly Full story

BHP Billiton boss Marius Kloppers says the Gillard Government’s Fair Work act has made it too easy for workers to strike and too difficult for miners to negotiate with unions. Continue reading at Australian Mining Full story