Top five mining stories last week

Barrick

Source: Porgera Joint Venture.

Stay on top of the most popular stories on Australian Mining over the past week, including Papua New Guinea refusing to extend Barrick’s lease on the Porgera gold mine.

Papua New Guinea forces Barrick out of Porgera

Papua New Guinea has swooped in to take control of Barrick Gold’s Porgera gold mine after refusing to extend a special mining lease with the Canadian company.

Barrick claims the decision is a violation of the government’s legal obligations towards the company and “a catastrophic situation for communities at Porgera and in Enga, and for the country as a whole.” Read more…

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Caterpillar registers two billion tonnes with autonomous haulage system

Caterpillar has doubled its autonomous haulage figures in under two years after recording two billion tonnes hauled with the autonomous trucks system.

The Cat Minestar Command System has been on the market for just over six years, and the new milestone was achieved much faster than the competition, according to MineStar Solutions production manager Sean McGinnis. Read more…

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BHP investigates raising Port Hedland export capacity

BHP is exploring options with stakeholders to increase its licensed iron ore export capacity from Port Hedland to beyond 290 million tonnes a year.

The mining giant is focussed on reaching 290 million tonnes per annum in the medium term and is making the necessary improvements across its supply chain to reach this goal. Read more…

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Rio Tinto chairman highest paid among ASX 100 directors

Rio Tinto chairman Simon Thompson has been named the highest paid single board director among the 100 largest ASX-listed companies, with an annual paycheck of more than $1.6 million.

BHP chairman Ken MacKenzie ranked third with a remuneration of more than $1.3 million a year, as revealed by a new Apllo Communications report analysing remunerations for 563 non-executive directors of the top ASX-listed organisations. Read more…

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Newcrest banks on growth with $1.1bn raising

Newcrest Mining is seeking to raise $1.1 billion to fund future growth at its mine sites globally as other companies preserve cash due to concerns over economic uncertainty.

The move will also expand Newcrest’s exposure to gold production at Lundin Gold’s Fruta del Norte mine in Ecuador after raising its ownership stake in Lundin to 32 per cent in December last year. Read more… 

 

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