MINERAL INDUSTRIES – AUSTRALIA

Capex still in free fall, but signs of life emerge

roymorgansocial Leave a comment

Original article by Paul Garvey
The Australian – Page: 32 : 8-Dec-16

Data from the Australian Bureau of Statistics shows that mining companies reduced their investment in new projects by 10.6 per cent in the September 2016 quarter. The sector’s capital expenditure has fallen for 14 consecutive quarters. However, this may lead to an undersupply of such commodities, which in turn could prompt renewed capex. There are already indications of an upturn in greenfields exploration and IPO activity in the minerals sector.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, ASSOCIATION OF MINING AND EXPLORATION COMPANIES, METALICITY LIMTED – ASX MCT, PANORAMIC RESOURCES LIMITED – ASX PAN, CITIGROUP PTY LTD

Mining sector backs 20pc company rate

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 29-Mar-16

A report produced by Canadian academic Jack Mintz has concluded that Australia’s corporate tax rate is uncompetitive, and proposes a progressive reduction from 30 per cent to just 20 per cent. The report was commissioned by the Minerals Council of Australia. The Federal Government’s May 2016 Budget is widely tipped to include a reduction in the company tax rate.

CORPORATES
MINERALS COUNCIL OF AUSTRALIA, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Explorers ditch ASX as downturn bites

roymorgansocial Leave a comment

Original article by Tess Ingram
The Australian Financial Review – Page: 26 : 17-Mar-16

Analysis by BDO shows that about 16 per cent of the 753 Australian-listed exploration companies had no active exploration program in the December 2015 quarter. Meanwhile, 25 exploration companies delisted, were placed in administration or opted to exit the sector during the period. Meanwhile, nearly 50 per cent of companies that remain in the sector are estimated to be able to finance operating expenditure for no more than two quarters.

CORPORATES
BDO CHARTERED ACCOUNTANTS AND ADVISERS, DORAY MINERALS LIMITED – ASX DRM, BARRICK GOLD CORPORATION

Silver lining in mineral hunt cloud

roymorgansocial Leave a comment

Original article by Tess Ingram
The Australian Financial Review – Page: 18 : 1-Sep-15

The national spend on exploration fell 33 per cent year on year to $A322 million in the June 2015 quarter, according to the Australian Bureau of Statistics. It fell to its lowest level in nine years as miners cut back on costs and expenditure in the face of declining commodities prices. But it was not all bad news. The number of metres drilled was down only nine per cent, suggesting the industry was getting more for its money as costs were slashed in the search for the next generation of mines.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, MINEX CONSULTING PTY LTD, ASSOCIATION OF MINING AND EXPLORATION COMPANIES