Mining

Steady iron ore volumes have delivered Gina Rinehart’s Hancock Prospecting another bumper profit, as the billionaire furthers her foray into energy and makes new investments in Australian fashion.

Mineral Resources’ chief financial officer says a rollout of new FIFO swings requiring employees to choose between more time on site or leaving the business has led to high turnover. 

Environment Minister Tanya Plibersek faces an important call on whether to approve a new mining project, after the owner of Australia’s largest underground mine and gold operation applied to extend its site.

Mineral Resources’ ailing balance sheet will get a huge boost after Gina Rinehart agreed to pay potentially more than $1 billion for its WA energy interests.

BHP’s long-serving chair has told an annual meeting the mining giant can weather the woes of inflation, a slowing Chinese economy and erratic commodity prices — but turning steel green will be a tough task.

The Opposition warns the resources sector may face ‘economic Armageddon’ due to an international biodiversity agreement by Labor.

The company’s share prices has plunged more than 25 per cent in the past week since founder and managing director Chris Ellison issued an apology over tax avoidance.

Michael Masterman and his Element Zero team will fight a judge’s decision to not kill Fortescue search and seizure orders despite her findings of material non-disclosure.

Stockbroker RBC Capital Markets said Monday’s sell-off was exaggerated but warned there may not be a meaningful recovery until the outcome of a board investigation is known.

Shares in Mineral Resources plummeted after its founder and boss Chris Ellison admitted to a ‘serious lapse of judgment’ over his offshore tax affairs.

Persistent cost inflation and low-grade iron ore at Rio Tinto’s mining heartland is eating into margins and delivered a quarterly result labelled as ‘disappointing’.

Rio Tinto has implied it wants Federal Labor to make sure Ministerial oversight exists over a proposed national environmental watchdog.

Rio Tinto will can plans for a new deposit due to be part of its Rhodes Ridge expansion in the Pilbara, in a move it claims will help save the habitat of a population of ghost bats.

Rumours of iron ore’s price demise have been greatly exaggerated, according to some analysts, who now see a stellar reversal of fortune for the steel-making ingredient back towards $US120 a tonne.

BHP says it has made redeployment offers to hundreds of workers following the suspension of its Nickel West arm.