Iron ore prices have continued their upward trajectory, reaching more than $US103 ($150) per tonne and remaining above $US100 nearly every day since Vale flagged mine disruption risks.
According to Walkabout Resources, a previously reported “sudden and material decrease” in spot prices for all graphite flake sizes in China has not occurred.
An industry expert, Surbiton Associates director Sandra Close has warned those interested in gold to be aware of the shortcomings of gold price forecasts being made, given the volatility of the precious metal.
Analysts say there is “little light on the horizon” for the current commodities downturn for several years due to increasing imbalances between physical supply and demand.
Shaky commodity prices and the end of the boom have resulted in a bad year for job losses, and BHP and Rio have warned of more to follow.
Gold prices are looking set to crack the $US1400 mark yet again, with surges over the last three weeks leading to a finish of $US1385 per ounce last week.
Fortescue Metals suffered a massive loss yesterday, during Australia’s worst trading session in a month.
Woodside have signed what is thought to be a multi-billion dollar LNG deal which will see Japan’s Chubu Electric receive 1.5 million tonnes of liquefied gas over three years.
Perth-based uranium miner Paladin Energy has posted a $40 million September quarter loss despite recording an 11 per cent rise in production at its flagship operation.
Yancoal is seeking to alter its contract with WA’s state-owned power generator Verve Energy, as production costs continue to outweigh the price being paid for coal.
A snapshot showing the dollar value country’s lost when the gold price dropped earlier this year.
The World Gold Council has told the Diggers and Dealers mining conference that gold prices will improve over the long term due to strong demand from China and India.
The peak body for Australia’s oil and gas industry has warned the next wave of investment in projects may not materialise unless serious policy reforms are undertaken.
Despite lowering full-year production estimates Santos have recorded an eight per cent hike in revenue for the June quarter.
Delegates at this year’s Australian Uranium Conference say that despite the tough ride the metal has seen in recent years, a boom in price is imminent as world energy demands increase.
Forty-five contractors have been cut at Andrew ‘Twiggy’ Forrest’s Windarra nickel project amid speculation a bid to reopen the Western Australian mine has been hamstrung by financing issues.
A business analyst has warned low nickel prices were putting pressure on miners, predicting mines may face the prospect of closure.
Aditya Birla Minerals is looking for a buyer for its Mt Gordon copper mine in Queensland which is set to sell for around $250 million.
Port Hedland has posted another record breaking year for iron ore exports which are up by 40 million tonnes.