88ֳ

INTERNATIONAL COAL NEWS

News Wrap

IN THIS morning's News Wrap: Rail company Aurizon to cut about 300 jobs; Vale keeps annual output...

Lou Caruana

88ֳ

Rail company Aurizon to cut about 300 jobs

Freight rail operator Aurizon has written off its investment in Aquila Resources and said it was shedding about 300 jobs in response to weak coal prices, according to the Sydney Morning Herald.

The company plans to cut approximately 180 workers in train crews, yard operations, maintenance and infrastructure production, plus about 120 middle and senior managers.

Vale keeps annual output target within reach

Vale, the world's biggest iron-ore miner, reported output that exceeded analysts' estimates, keeping a new annual production record in sight, according to the Australian Financial Review.

Second-quarter iron-ore output was 86.8 million tonnes including third-party purchases, the Rio de Janeiro-based company said Thursday in a statement. That beat the 86 million tons estimated on average by five analysts surveyed by Bloomberg.

MacPhersons, Torian in midnight pegging brawl

ASX-listed gold explorers MacPhersons Resources and Torian Resources appear headed for the Warden’s Court in a battle over prospective ground in the shadows of Kalgoorlie-Boulder’s Super Pit, according to the West Australian.

Both companies sent representatives into bushland at midnight on July 8 to peg the tenements, 7km east of the Golden Mile which has produced more than 56Moz.

If the matter ends up before the Mining Warden it would likely be settled by ballot.

If Torian is successful it would continue a stellar run for Torian managing director Matt Sullivan’s small exploration team.

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the 88ֳ Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the 88ֳ Intelligence team.

editions

Mining Magazine Intelligence: Future Fleets Report 2025

MMI Future Fleets Report 2025 looks at how companies are using alternative energy sources to cut greenhouse gas emmissions

editions

Mining Magazine Intelligence: Automation and Digitalisation Report 2024

Exclusive research for Mining Magazine Intelligence Automation and Digitalisation Report 2024 shows mining companies are embracing cutting-edge tech

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.