China

MMG managing director Jerry Jiao has expressed plans for the Chinese miner’s expansion and desire for new investments.

Port Hedland, the world’s largest bulk mineral port, has reported an increase of 2 tonnes in iron ore shipments to China from August to September, representing a rise of 2.8 per cent, according to a port data report.

The Australian Government’s Department of Industry, Innovation and Science remains steadfast in its forecast that the iron ore price will average below $US50 a tonne in 2019.

Anglo-Australian tungsten producer Wolf Minerals has seen an 18 per cent rise in pre-tax losses for its Drakelands Mine in County Devon, England.

Iron ore fell another 4.1 per cent in value overnight to drop to its lowest mark since late July.

Copper prices have rebounded following an advantageous sell-off last Friday that saw copper fall 3 per cent and zinc 3.1 per cent respectively on the London Metal Exchange.

WesTrac’s Chinese division will be sold to Lei Shing Hong Machinery for $540 million after parent company, Seven Group (SGH), secured a deal with the buyer.

Fortescue Metals Group chief executive Nev Power expects the volatility in the iron ore market to settle over the next six to 12 months.

The doom-and-gloom surrounding the future of the price for iron ore remains on the back burner after its value spiked more than 7 per cent over night.

Australia’s liquefied natural gas (LNG) exports are forecast to grow 22.6 per cent in the 2018 financial year.

The New South Wales Government will scale back the exploration licence previously granted to China’s Shenhua Watermark Coal to protect agriculture in the Liverpool Plains.

Iron ore will average below $US50 a tonne next year and remain under that mark through 2019, according to the latest forecasts from the Department of Industry, Innovation and Science.

Australia has contributed as global coal consumption fell sharply for the second consecutive year in 2016, according to a BP report.

The Queensland department of natural resources and mines (DNRM) has granted the final heritage approval for Carbine Resources’ Mount Morgan gold copper project, southwest of Rockhampton.

Lithium developer Pilbara Minerals has secured an off-take agreement with China’s Jiangxi Ganfeng Lithium for spodumene production from the Pilgangoora project in Western Australia.

The iron ore price has dropped to its lowest mark in almost a month after falling below $US90 a tonne overnight.

Metalicity has secured a joint venture agreement with China Nonferrous Metals Company (CNFC) that will help it advance the Admiral Bay zinc project in Western Australia.

Rio Tinto and Aluminium Corp of China (Chinalco) have reportedly terminated their joint venture set up to explore for copper.

Australia’s liquefied natural gas (LNG) exports surged in 2016 as a plethora of new projects in Western Australia, the Northern Territory and Queensland triggered a flood of new shipments to global markets, a new report from EnergyQuest has found.

Australian Mining attended the opening of Cudeco’s Rocklands copper mine in Queensland.