Tag Archives: Mining

OceanaGold Corp, which operates the Macraes gold mine in Otago, reported a 58 percent drop in first-quarter profit with sales down from a year earlier, and announced plans to buy the Waihi Gold Mine for US$101 million. Net profit fell to US$24.5 million in the three months ended March 31, from US$58.9 million a year earlier, the Melbourne-based company said in a statement. Sales …

Environmental lobbyists criticised plans by Chatham Rock Phosphate to mitigate the impact of its proposal to mine phosphate nodules from the Chatham rise seabed, saying it wouldn’t diminish the risk and uncertainty of the project, and that any economic benefit didn’t trump environmental concerns. Speaking on the second day of a two-month hearing on Chatham Rock’s marine consent application, the …

Would-be ironsands miner TransTasman Resources has been instructed by the High Court to come up with a far shorter, more focused appeal against the rejection of its application to mine the seabed in the Exclusive Economic Zone. At a chambers hearing on Tuesday, which media were allowed to attend, Justice Denis Clifford gave TTR’s counsel, Hugh Rennie QC, until Friday, …

Australian state governments spent A$17.6 billion on subsidies for mineral and fossil fuel industries over six years, including A$8 billion to help transport coal, according to a report. The Australia Institute says it’s the first time state subsidies have been added up and they are on top of Federal subsidies, estimated at A$4.5 billion in 2013. The report reveals the …