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QCoal has moved to purchase the business and assets of Bounty Mining, including the Cook Colliery. The company went into voluntary administration in December after a string of setbacks including rockfalls at the Blackwater district mine in October. Bounty Mining receivers and managers PWC said they had accepted an offer from QCoal subsidiary Constellation Mining. The transaction is expec...
Chillagoe mining operation owners are seeking more than $4 million from Consolidated Tin Mines after a failed acquisition deal. The proposed $53 million acquisition deal would have seen Consolidated Tin adding the Mungana processing plant, Mungana mine and King Vol polymetallic mine to its regional assets. It has now received a notice of demand from Auctus Minerals for payment of a break f...
Newlands Commercial Constructions is set to begin work this month on a new $5.2 million Ergon depot in the Whitsunday region. Energy Minister Dr Anthony Lynham said the new development on Galbraith Park Drive in Cannonvale would replace the ageing Proserpine depot, which was badly damaged by severe Tropical Cyclone Debbie three years ago. “Newlands has committed to hiring local cont...
COVID19 has been quoted as one reason behind today’s takeover bid on Stanmore Coal. The bidder, Golden Investments, is offering $1 a share for 50 million shares. That’s a 22 percent premium to yesterday’s closing price. Golden Investments already controls 31.25 percent of the 250 million plus shares listed with the Australian Stock Exchange (ASX) making it the largest shar...
About half of the coal sample analysis certificates issued by ALS laboratories in Queensland and NSW since 2007 were manually amended ‘without justification’, an investigation has found. The company today said an independent forensic investigation had been completed into the Coal Superintending and Certification Unit within the ALS coal business. “The investigation has ide...
A new general manager is taking the helm at Adani’s Abbot Point operations near Bowen. Allan Brown (pictured below) has been appointed general manager – port operations from April 14. Chief executive officer Adani Infrastructure Trista Brohier said Mr Brown joined the business with a wealth of experience in senior leadership roles from Gladstone Ports Corporation and most recently N...
Queensland-based Triple Eight Race Engineering has turned its attention from the track to tackling the COVID-19 crisis by developing a low-cost ventilator. Triple Eight suspended its usual operation following the cancellation of the Australian Grand Prix and has been focused on designing and building a working prototype. “One week we’re at the race track trying to go fast and t...
Peabody Energy is shedding 40 staff from its Australian coal operations, citing a range of factors including the COVID-19 crisis. A Peabody spokeswoman described it as an extremely difficult decision for the company. “These actions come in response to macro industry conditions, including the mild Northern Hemisphere winter, historically low natural gas prices, trade and policy uncertainti...
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