Ongoing strength in gold is reversing the forecasts for the metal, but can it rise above the US$1500 benchmark again?
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How the Federal Budget affects mining
With the release of the latest Federal Budget there have been fewer changes than expected, with small business and middle income tax payers the big winners, but how will affect the mining sector?
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Fortescue pays off billions in debt
Fortescue has issued a US$650 million repayment notice for its 2019 secured term loan, a week after it began the repayment of US$577 million worth of notes last week.
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Gold shoots past US$1300 mark
Gold has defied market expectations, rising above US$1300 for the first time in more than a year.
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Juniors continue to seek outside investment
As the resources landscape continues to decline, junior miners are continuing to seek investment outside the sector.
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Tackling longer payment terms
Ever lengthening payment times for invoices are leaving suppliers with a financial hole. Sharon Masige writes.
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Has downturn reached the bottom? Albanese says yes
Former Rio Tinto CEO Tom Albanese believes the commodity downturn has reached the bottom of the trough, and is on its way up once more.
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Rio Tinto to buy back US$1.359 billion in debt
Rio Tinto’s plan to repay debt early will see it purchase around US$1.359 billion in outstanding 2017 and 2018 notes.
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Budget explainer: commodity prices and the federal budget
The first years of the millennium were kind to government finances. A benign economic environment, and a once-in-a-century
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Stanford backflips on fossil fuel divestment
Iron ore falls
Iron ore has begun to retreat from its 16 month high.
Last week the metal rose to just over US$70 per tonne, marking
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Iron ore leaps above US$70 per tonne
Iron ore continues from strength to strength as it reaches US$70.46 per tonne.
This continual upwards movement extends this year’s gains to 61.7 per cent, and marks the third largest surge since spot
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Rio Tinto pays debt early
Rio Tinto has launched a cash tender for the early repayment of US$1.5 billion for its 2017 and 2018 notes.
The miner is aiming to reduce gross debt levels through the repayment of near maturing debt,
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Japanese investor announces write-down on Roy Hill
Another company has revealed pain taken in their involvement with the Roy Hill project, this time Japanese giant Marubeni.
The major investor with a 15 per cent stake in the project has announced a write-down
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Coincidence as BHP follows Rio, cuts guidance
Poor weather in the March quarter was blamed for BHP cutting guidance for iron ore production in the Pilbara, a move which may allow some breathing room for the juniors.
The company has shaved 10 million
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Iron ore rallies above US$60
Iron ore has defied predictions and risen above US$60 per tonne overnight.
The metal rose 4.1 per cent to US$62.85 per tonne at Qingdao on Tuesday, taking the year’s total gain to 44 per cent.
Northen
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Rio Tinto post mixed first quarter results, lowers 2017 guidance
Rio Tinto has posted mixed production results, showing year on year increases in iron ore, but quarter on quarter declines.
It has also lowered its iron ore guidance for 2017.
The miner recorded a 13 per
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Anglo American CEO pay packet slammed by investor group
A shareholder interest group has advised Anglo American investors to reject CEO Mark Cutifani’s pay packet for his ‘above target’ performance.
ShareSoc, the UK Individual Shareholders Society, advised
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Downer completes debt extension
Downer EDI has completed a partial extension of the company’s $400 million syndicated debt facility.
The move reduces the company’s future refinancing risks.
The facility previously had a maturity
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Peabody files for bankruptcy
Another major coal miner has collapsed, as Peabody files Chapter 11 bankruptcy in the US.
Peabody Energy has filed pleadings, known as ‘first day’ motions, with the US Bankruptcy Court.
“These motions
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