Regulator orders Russell Vale to cease mining operations

The New South Wales Resources Regulator has prohibited Wollongong Resources’ Russell Vale Colliery to mine coal due to ongoing safety concerns, reported ABC News. The Mining and Energy Union told the news service that there have been at least five significant frictional ignition events at the underground mine in the past eight months. “The prohibition notice will remain in place…

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Evolution Mining obtains 80% stake in Northparkes

Evolution Mining said it has entered into a binding agreement to acquire an 80% interest in the Northparkes copper-gold mine in New South Wales, Australia, from CMOC Group. Sumitomo Metal Mining and Sumitomo Corp. will retain their 20% stake in the joint venture. “The acquisition of Northparkes represents a unique opportunity to add another quality asset to our portfolio, strengthening…

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Newmont proposes Newcrest US$16.9 billion takeover

In a move to combine two of the top senior gold producers, U.S.-based Newmont has submitted a non-binding proposal to acquire 100% of the issued share capital of Australian peer Newcrest Mining by way of a scheme of arrangement. If successful, it would be the largest mining takeover and the third-largest corporate buyout in Australian history, according to Refinitiv data.…

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