Fortescue Assessing Green Ammonia Plant in Australia's Tasmania
Fortescue Metals Group said on Tuesday it was assessing prospects to build an ammonia plant in the southern island state of Tasmania, as part of its push to become a major renewable energy producer.The project would include a 250-megawatt hydrogen plant at the Bell Bay Industrial Precinct with green ammonia production capacity of 250…
Australia's Iron Ore Giant Fortescue Plans 235GW Green Energy Drive
Australian mining magnate Andrew Forrest outlined ambitious plans on Wednesday to build a renewable energy business, aiming to compete with oil giants to provide low-cost green energy globally.Billionaire Forrest, who turned Fortescue Metals Group over two decades into the world's fourth-biggest iron ore miner…
Two Risks Threaten Commodities: Russell
It's not quite time to run up the red flags, but some recent developments in commodity markets suggest it may be time to start looking for them in the locker. The are two main factors that appear to be emerging that may threaten an end to the current quite rosy picture surrounding demand for commodities such as iron ore…
Australia Cuts Resources Export Revenue Forecast on Iron Ore Outlook
Australia has revised down the value of its resources and energy export earnings in the year to end-June 2017 by 4.6 percent, or nearly A$10 billion ($7.6 billion), due largely to falling prices for iron ore, its most valuable export. The downward revision to A$205 billion mainly reflects an earlier…
Tianjin Resumes Commodity Port Ops
Oil, gas and iron ore imports resume after disruptions; Strategic oil reserves in the region not affected. Many operations have resumed at China's Tianjin port, trade sources said, after explosions last week that killed more than 100 people and disrupted business at what is an important oil, gas and bulk import harbour for Asia's biggest economy. The explosions on Aug.
Why the Commodity Mega-Projects Era is Over
Want a snapshot of the problems facing natural resource companies and why the era of big projects is over? Consider the recent dilemmas of Chevron, Adani and Fortescue Metals in Australia. The first is battling cost overruns and combative unions in trying to get a multi-billion dollar project ready.
Iron Ore Miners, OPEC on Same Path
One of the themes from the recent weakness in crude oil and iron ore is that major producers are deliberately oversupplying as they are willing to tolerate falling prices in order to drive market share. This sounds logical and provides a convenient explanation as to why output of these two major commodities has continued to rise even as prices fall to multi-year lows.
Oil Price Plunge Delivers Mixed Results for Australia
The plunge in oil prices since mid-2014 will lift airline profitability, ease pressure on mining companies, perk up retailers, but strain the oil and gas sector, Moody's Investors Service said in its analytical report "Low Oil Price Will Lift Airline Profitability; Pressure Oil and Gas Producers" authored by Maurice O'Connell and Matthew Moore…
Glencore-Rio Proposal Not the Right Iron Ore Deal: Russell
The hullabaloo surrounding Glencore Plc's spurned approach to rival miner Rio Tinto shows why this is probably the wrong deal at the right time. Glencore's proposal to create a $160 billion behemoth is certainly audacious, and may even make sense for shareholders of both companies if priced attractively.
Fallen Australian Tycoon Tinkler Attempts Comeback In Coal
The coal price slump that brought Australian tycoon Nathan Tinkler down last year has also sown the seeds for his comeback, with the former electrician snapping up a closed coal mine from Peabody Energy for next to nothing. Tinkler's Singapore-based firm Bentley Resources agreed to buy the Wilkie Creek mine from Peabody for $70 million in cash…
TransAlta: Preferred Bidder for Australian Power Plant
Canadian power company TransAlta Corp said on Tuesday it has been selected as the preferred bidder to build a A$550 million ($510 million) natural-gas fired generating station in South Hedland, Western Australia. The company said that subject to final approvals, it expects the 150-megawatt power plant to be in service in 2017.
