Indicators suggest a move in the spot price of uranium to $US90 a pound by early 2008; up to $US120 a pound by late 2008

John Wilson, managing director, Resource Capital Research, Warwick Grigor, managing director, Far East Capital, a Sydney-based private investment bank specialising in the resources sector, and Michael Angwin, executive director, Australian Uranium Association, answered questions about the price of uranium, reported The Australian Financial Review (10/10/2007, p. 34).

Alcoa’s rolled-products division in Yennora and Port Henry stops all industrial and domestic foil, sheet and coil production: blames dollar and costs

According to Tracy Ong, writing in The Australian Financial Review, (28/9/2007), p. 30, cheap imports and a rising dollar were blamed for a restructure of Alcoa’s rolled products division that will end in the loss of nearly 200 jobs in NSW and Victoria. The company told workers at its Yennora and Port Henry operations it would stop industrial and domestic foil, sheet and coil production. The factory at Yennora in Sydney’s west will shed 138 jobs by the end of the year. Another 56 will go at Port Henry by April and May.

New Hope Corp offers $600 million for Resource Pacific; delays at Newpac leaves Resource Pacific vulnerable after late arrival of equipment

Delays at Newpac have rendered Resource Pacific vulnerable after the late arrival of equipment, according to Nina Wan, in The Australian Financial Review, (9/10/2007, p. 14). Several parties are understood to be running the numbers on Resource Pacific and there is a good chance a competing bid may emerge, particularly as Newpac is close to mines run by Felix Resources, Xstrata, and Rio Tinto.

Alcoa to shed 194 jobs, bringing end to aluminium foil manufacturing in Aus: cites high $A, low-cost China

Alcoa would shed 194 jobs, the bulk of which would be lost when it shut its aluminium foil and coil plant at its Yennora site in western Sydney, wrote Andrew Trounson in The Australian (28/9/2007, p.2).

WA’s Northern Goldfields BHP Billiton wants to dominate the region the same way as WMC did for more than 30 years

BHP Billiton wants to dominate the region the same way as WMC did for more than 30 years as the partner of choice for the smaller miners around Kambalda and further north, according to Michael Vaughan, in The Australian Financial Review, (24/9/2007, p. 15).

Wall Street worried as China may prevent foreign investors from taking control of brokerages; central bank predicts economic growth of 11.6pc

The latest initial public offering on the Shanghai exchange was for China Shenhua Energy, one of the country’s biggest coal producers, which raised a record 66.58 billion yuan last week, wrote Colleen Ryan in The Australian Financial Review (4/10/2007, p.13).

Dirt flies as Nationals fight to hold on to mining-rich electorate of Dawson, Qld

According to Lachlan Heywood in The Courier Mail (26/9/2007, p.11), Queensland coal miners were unwillingly funding a climate-change campaign managed by a close friend and former adviser to Greens leader Bob Brown.

Private ownership of coal ports – owner wants to spend up, to boost shareholder returns, while the user wants to restrict spending to get the cheapest port charges

Leo Zussino, who ran the Port of Gladstone, and Peter Coates of Xstrata Coal would be working closely together in the next few years if Queensland’s Surat Basin coal province was opened up as a major source of exports – but they would have to agree to disagree on one thing, according to The Courier Mail (7/8/2007), p. 61).

Coal wars: Queensland Ports to start Wiggins Island within 18 months: Xstrata, Anglo, Cockatoo seek 120 million tonnes pa: Wiggins only 75 million tonnes.

The plan for a $1 billion rail link from the Surat Basin had put pressure on the Central Queensland Ports Authority. It had almost completed a $700 million, 29 million tonne-a­year expansion at the neighbouring RG Tanna terminal, and aimedto start construction on Wiggins Island, Gladstone within 18 months. The demand for capacity at the ort was so strong that miners had lodged initial expressions of interest for 120 million tonnes of capacity. And they would be able to make firmer commitments after October 4, when the port authority will release contracts for participating in funding the feasibility study. But some miners were already keen to make stronger commitments. “There were some companies that expressed an interest in signing take­or-pay contracts for 2012 now” the port manager told The Australian Financial Review, (24/9/2007), p. 17.