Australia’s new “Super Profit” tax on mining companies may scare off investment and hurt the profitability of mining operations, say analysts. However, economists and government officials disagree. After billions of dollars worth of investments into molybdenum operations in Australia, how will this proposed tax affect the mining industry?
In answer to questions in Perth on the final leg of a Resources Rising Stars roadshow in Australian capital cities, Emery declared that while the debt to equity ratio for a large project costing about US$1 billion may be 60/40 the company would look at alliances and offtake partners as a means of softening the [...]
Moly Mines Ltd. has sought to build a A$604 million molybdenum mine in Australia, is in talks with Chinese groups for iron ore sales accords from an adjoining deposit amid surging demand. For full story, click here
Thor Mining PLC. declared investigation of alternatives to reduce capital and operating costs for the Molyhil tungsten-molybdenum development project in Australia’s Northern Territory continues and is expected to be finalised at the end of August 2009. For full story, click here
Moly Mines Ltd. declared that it is targeting mining pre-strip operations at the Spinifex Ridge iron ore project in Western Australia to begin late in the first quarter 2010 with production slated for July 2010. For full story, click here
Moly Mines has completed a maiden resource estimate for the iron-ore deposits at its Spinifex Ridge project, in Western Australia. For full story, click here
Shares in mining company Ivanhoe Australia have surged nearly 30 per cent after the company said its Merlin molybdenum-rhenium deposit could be worth as much $6.4 billion. For full story, click here
Ivanhoe Australia reported to have confirmed that it has recorded the highest grade of molybdenum in the world at its flagship Queensland project. For full story, click here
Thor Mining PLC has reported net losses for the first half practically unchanged from a year earlier at £500,000 and is waiting for assay results from drilling at Molyhill in Australia’s Northern Territory in order to identify possible incremental mineralisation at the property. For full story, click here
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