MARKETS

News Wrap

IN <i>News Wrap</i> today: WA to review budget after iron slump; first cuts in BMA scale back; possible new direction for NSW explorer.

Justin Niessner
News Wrap

WA to review budget

The iron ore price plunge (last trading at $US78.40 per tonne) has forced West Australian Treasurer Mike Nahan to signal a budget review.

According to The Australian, Hahan has said the government’s bullish iron ore forecasts are threatening a budget deficit this year.

A state treasury review in May had tipped that the commodity would average $123/t throughout 2014-15.

First impact in BMA cuts

BHP Billiton Mitsubishi Alliance’s recent decision to axe 700 jobs across its Queensland coal operations was first realised at the Blackwater mine in the state’s Central Highlands region.

The Rockhampton Morning Bulletin reported that some workers had already been given the bad news at the mine by yesterday afternoon.

The number of workers affected at the operation is not yet known.

Havilah acquisition

Explorer Havilah Resources has applied to buy a 50,000ha property prospective for copper-gold northwest of Broken Hill, New South Wales, according to ABC Online.

The company also confirmed it could expand into livestock production.

"We may run sheep on it or allow our neighbours to use the paddocks. We haven't made a decision on that yet," Havilah managing director Chris Giles was quoted as saying.

TOPICS:

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

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

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production

editions

Mining Magazine Intelligence Automation Report 2023

An in-depth review of operations using autonomous solutions in every region and sector, including analysis of the factors driving investment decisions

editions

Mining Magazine Intelligence Exploration Report 2023 (feat. Opaxe data)

A comprehensive review of current exploration rates, trending exploration technologies, a ranking of top drill intercepts and a catalogue of 2022 Initial Resource Estimates and recent discovery successes.