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.