Aurizon slipped to its lowest share price since September 2012 on Monday, after chief executive Lance Hockridge revealed more than a quarter of the rail operator’s coal customers are operating at breakeven,
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Simandou bites the dust
Anglo-Australian mining giant Rio Tinto has announced a $1.1bn impairment over the potentially massive Simandou iron ore project in Guinea, citing uncertainties in the market.
The $1.1bn impairment for
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M&A speculation continues in mining sector
Rumour has it two of the world’s biggest miners are looking into significant acquisitions, with Rio Tinto said to be eyeing Alcoa’s alumina business, and Glencore reportedly interested in snapping
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Asciano makes $88m switch from Brookfield to Qube
Australian port and rail giant Asciano will pay an $88 million break fee to back out of a takeover bid from Canadian infrastructure fund Brookfield, so it can fully support a rival bid from Qube Holdings.
Asciano
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Tinkler out as APC boss after bankruptcy ruling
Fallen coal magnate Nathan Tinkler has resigned as managing director and chief executive officer of Australian Pacific Coal, after a Federal Court judge declared him bankrupt.
Federal Court Justice Jacqueline
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Long-term losses challenge Queensland Nickel recovery
Any party looking to revive Clive Palmer’s embattled refinery business Queensland Nickel will have to eat cash losses until at least 2017, the company’s administrator has reportedly told its major
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Rumoured figure for Arrium grinding business lower than expected
The offer being reportedly mulled by Australian mining and consumables business Arrium is not significant enough to solve the company’s debt woes.
The AFR’s StreetTalk column this week suggested
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Rio Tinto could cut dividend
A week after it was suggested BHP Billiton may change its policy of maintaining high dividends despite a slumping market, rival Rio Tinto is reportedly set to make the same move in its annual results announcement.
Rio
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Frustrated Brookfield preparing all-cash bid
Brookfield looks to be readying a higher, all-cash offer for Australian port and rail firm Asciano, after takeover rival Qube earned the support of Asciano’s board by upping its own offer this week.
Brookfield
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BHP credit rating slips, dividends threatened
US agency Standard & Poor’s has downgraded BHP Billiton’s credit rating this week, warning the mining giant it could slip further if it continues to deliver the same dividends to shareholders despite
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