Iron Ore producer , Fortescue Metals Group Ltd,  has suspended about two thirds of its long-term shipping contracts as its Chinese customers take advantage of cheaper rates stemming from the commodities slump.
 
Fortescue said on Friday that it was suspending all long-term cost and freight (CFR) shipping contracts, whereby the miner covers transport costs and passes [...]

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Fortescue Metals Group Ltd is a step closer to obtaining access to railways owned by BHP Billiton Ltd and Rio Tinto Ltd after Treasurer Wayne Swan ruled they should be opened to third parties.
Rio Tinto Ltd, the world’s second largest iron ore producer, says it is disappointed by the federal government’s decision to allow third-party [...]

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A new thermal coal mine for central Queensland could be in operation as early as 2012 now that an agreement between miner Hancock Prospecting and contractor Thiess has been made.
Thiess, a subsidiary of Leighton Holdings, announced yesterday it had been engaged to co-manage with Hancock Prospecting the pre-feasibility study (PFS) for the Alpha Coal Project.
The [...]

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Oz Minerals, the merged Oxiana and Zinifex, has reassured shareholders of the company’s fundamentals and prospects after a significant drop in the group’s share price.
The share price of the merged company - which legally was Oxiana acquiring the Zinifex business - has dropped more than 67% from $3.90, when the merger was announced in March, [...]

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The Northern Territory Mining Minister says the Government will not offer any financial aid to GBS Gold, despite the potential loss of hundreds of Territory jobs.
GBS Gold say it’s had to go into administration because production costs have soared at its mines at Tom’s Gully and Brock’s Creek.
GBS Gold employs about 200 people and it’s [...]

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Nickel miner Western Areas NL says it is on track to start up two new mines near its Flying Fox mine in Western Australia next year.

Managing director Julian Hanna told the company’s annual general meeting in Perth on Friday that these developments, the Spotted Quoll and Diggers South mines, between Kalgoorlie and Esperance, would be [...]

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Global mining giant Rio Tinto Ltd has signed two agreements with the world’s largest copper producer CODELCO, to explore for the base metal in Chile.
The first agreement covers the Esteli prospect which adjoins the Exploradora property in northern Chile. 
The second agreement covers the Paloma prospect near the El Tesoro min and the BHP Billiton Ltd-operated [...]

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An inquest has heard the Beaconsfield Gold mine was warned by its geotechnical officer that the area of a fatal rockfall was not safe for mining, six months before the accident.
The inquest into the death of Larry Knight was shown a memo from geotechnical and geological engineer, Adrian Penney, to another mine manager, expressing concerns [...]

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The Queensland government has announced a $100 million plan over three years to improve facilities in the state’s thriving mining towns.
Under the Sustainable Resource Communities Agreement, mining companies will have to talk to the state government about their projects before they could go ahead, said Premier Anna Bligh at the opening of a new coal [...]

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The State Government has called on the Opposition Leader Colin Barnett to name the ports it would ship uranium from if it wins Government.
Yesterday Mr Barnett said there was no need for nuclear power in Western Australia for at least 50 years and yet indicated his support for uranium mining.
Meanwhile, the Premier Alan Carpenter has [...]

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