$3.4 billion is expected to be raised after Clive Parker floats the iron and coal export giant Resourcehouse on the Hong Kong Stock Exchange in the company’s initial public offering.

The company, expected to launch its official initial public offering today, is expected to sell 5.716 billion shares valued at between $HK4.48-$HK4.93 ($AUD0.54 - $AUD0.60), according to the most recent term sheet.

The company, which is 100% owned by Mr Parker, will be listed with the backing of four major banks, The Bank of China International, UBS, RBS and HSBC.

Cazaly Resources’ plan to export iron ore through the Port of Fremantle is in tatters after the Western Australian Transport Minister Tony Buswell and Fremantle MP Adele Carles moved to block the plan.

IMX Resources is due to start operations in Tanzania after acquiring its final drilling equipment.

The Senate Rural Affairs and Transport References Committee has called for submissions to its inquiry into the impact of mining of coal seam gas on the management of the Murray Darling Basin.

New South Wales mining company Gloucester Coal Ltd has entered an agreement with its largest shareholder, Noble, to acquire Noble’s wholly-owned coal mining company, Donaldson Coal Holdings Ltd.

The planned port facilities at South Australia’s Port Bonython are a step closer to realization after an agreement between the South Australian State Government and ports consortium Spencer Gulf Ports Links (SGPL) was struck.

The Federal Government has announced a budget dependant on the mining and resources industries and especially its involvement in the “Asian century.”

Freedom of Information documents released by the Government show a decline in expected revenue to be generated by the Government’s proposed Mineral and Resources Rent Tax.

A review of Geoscience Australia by the Department of Finance and Deregulation has found that much of the agency’s work “amounts to a national prospectus for some of Australia's most lucrative natural resources.” 

Five Australian universities, together with the CSIRO, have co-published the new Vision 2040: Innovation in Mining and Minerals paper, looking at the future of mining in Australia with a particular concentration on sustainability in the industry.

The $12 million South-East South Australia Innovation and Investment Fund (SESAIIF) has been launched by the Federal Government.

The Victorian State Government has announced a $625,000 injection package for Geoscience Victoria to conduct exploration for the ‘development of Victoria’s minerals and energy resources’ in the State’s budget.

The use of a new online mining approval system has ‘significantly increased’ the turnaround in approvals across Western Australia following the release of new quarterly figures. 

The Woomera Protected Area (WPA) has been opened to mining following discussions between the South Australian and Federal Governments.

A new public, open-access information database containing information on Australia’s geology is being co-developed by CSIRO, AuScope and a number of research agencies.

The third month-long ‘Stand Together for Safety’ event has been launched by Australia’s oil and gas industries.

INTERNATIONAL MONETARY FUND URGES SOVEREIGN SAVINGS

The South Australian Government is expected to announce today that it has secured Federal Government approval for proposed mining sites in the states Woomera Prohibited Area (WPA).

Mining company LD Operations has urged the Western Australian Government to conduct further extensive studies into the environmental impact of the group’s proposed Margaret River coal mining site.

The Queensland Government has announced major upgrades to rail services following a deal struck between Queensland Rail, Pacific National and Xstrata to deliver increasing quantities of magnetite concentrate.

WorleyParsons has been awarded an engineer, procure and construction management services contract for the expansion of Fortescue Metal Group’s Anderson Point port facilities in Port Hedland Western Australia.

Archived News

RSS More »