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THE world’s biggest mining machine supplier Caterpillar says the mining industry wasn’t ready for automated equipment a decade ago. It believes that “time is now” though, based on the apparent shift in focus to autonomous mining systems by BHP Billiton, Rio Tinto and other heavyweight miners. But what about the rest? HighGrade asked second-tier companies what was in it for them.
Quote of the Week"The strongest balance sheets and most transparent cashflows remains in large cap Australian resources and that is where we'd be putting cash to work ahead of any other Australian sector. In uncertain times like these you buy the best quality you can while it's on sale." - Southern Cross Equities' Charlie Aitken
DUBAI has shown itself to be a live funding source for small Australian miners, with Queensland-based Citigold Corporation this week banking the first $A10 million of a potential $A35 million commitment from Dubai Holdings. But Citigold managing director Mark Lynch says companies can’t expect to rock up tomorrow with a hand out for money.
FOR the optimists in a world currently full of swirling black clouds, Magma Metals’ Thunder Bay platinum project was rated by a number of experts last week as one of the more prospective blue sky exploration plays currently on offer in the resources sector.
WHICH one of the nickel miners will do a Warren Buffet and use their bundles of cash to opportunistically take advantage of the current malaise. Alternately, which of the nickel miners could fall prey to a more corporately aggressive mining business from, say, Canada?
FOR Sale, deep nickel sulphide deposit. Price on application to Kim Robinson at Kagara, Outram St, West Perth. Cash buyers only need apply, and those interested should note that financial crisis or not, the vendor’s slated reserve will be hefty.
CASH poor junior mining companies could face oblivion by the end of the year unless they are able to find funding alternatives to volatile equity markets.
A PUNT on promoting a human resources manager to operations manager of its largest mining contract at that time has certainly reaped rewards for both Thiess and Simone Wetzlar. That was eight years ago and after several further management roles Wetzlar is now chief operating officer for Thiess’ new business unit, Thiess Australian Mining.
RUDD and Wong stand defiantly on the edge of the Australian seashore to command the incoming carbon tide. The prime minister proffers aloft a copy of the Garnaut Report but its pages are being blown disconcertingly by a cooling breeze.
AUSTRALIAN-listed India Resources expects to produce nearly 9800 tonnes of copper concentrate by the end of calendar 2008 from the Surda mine in Jharkhand, which it claims should be generating a positive cash flow in the December quarter.
ON Monday last I was sitting in front of the telly with a gin and tonic, watching live, the US house of representatives vote down the first draft of the rescue package. Although it was given a second chance and ultimately passed, at the time I confess to being somewhat stunned that this group of buffoons could not look beyond their re-election prospects and grasp the intricacies of what was unfolding on their watch.
RUNNING the Murrin Murrin nickel and Boodarie hot briquetted iron plants in Western Australia would have given most managers long-term insomnia. But Brockman Resources managing director Wayne Richards is sleeping relatively easily these days, despite perilous world financial markets, a punishing local bourse, and persistent suggestions of a slowdown in China.
WHO are three people who have most influenced you in your career/life?
MINING machinery giant Caterpillar expects its fully automated surface blast-hole drill technology to be its first commercial offering in the product space, with initial site trials planned for next year. The company remains confident the time is right for a concerted push into mine automation products.
COMPANIES looking to start big projects, and currently wondering where the funds are going to come from, also still face joining a long queue for mining and other vital capital equipment, according to the world’s major manufacturers of mining equipment.
THE rapid growth in China’s steel output has surprised and shaken the world steel industry. Eight years ago the country was just another player; today it dominates global production, consumption and trade – and is likely to continue to do so for several years to come. Steel Business Briefing takes this opportunity to stand back and review the emergence, structure, priorities and direction of this industry giant.
WELL the good news for Paladin Energy shareholders is the company has kicked its Langer Heinrich operation into shape, reaching nameplate capacity last quarter. The bad news is, the macro picture for uranium in the short-to-medium term has apparently dimmed somewhat.
