It seems the mining industry is going from strength to strength. Now that the JV between Rio and BHP is off, it seems they have gone shopping instead.
Riversdale Mining Limited has confirmed that the Rio Tinto had made an indicative US$3.5 billion takeover offer. This is in line with the latest release from Rio Tinto which is reported to nearly triple its capital spending to US$11 billion next year.
BHP Billiton today announced approval for a further US$635 million (BHP Billiton share US$570 million) of capital expenditure that will underpin continued growth in Western Australia Iron Ore’s production profile.
The Xstrata plc board has approved the development of the Ravensworth North open cut mine in the Hunter Valley, New South Wales for a total investment of US$1.36 billion.
Macarthur Coal Limited raised $335 million through a institutional placement to fund the acquisition of a Bowen Basin mining tenement.Coal prices have soared during the past year, with prices tipped to rise further in 2011, as Chinese growth spurs strong demand for coking coal, used in steel furnaces.
AngloGold Ashanti Limited ‒ the third- largest producer of the precious metal ‒ plans to dig the world’s deepest mines in South Africa.
“AngloGold has brought together a group including General Electric Company to figure out how to reach gold in excess of 5km down, or more than a kilometer lower than any other mine,” CEO Mark Cutifani said. “At the same time it aims to use more machinery to curb fatalities,” he added.
“AngloGold has the potential to mine an extra 100 million ounces of gold by excavating down,” Cutifani said. “Even if we get 50% of that, it means there is another 30 years of those ounces for the company to extract,” he added. AngloGold expects to produce 4.5 million ounces this year.
All this activity of course points to a very busy year ahead. Recruitment and HR departments will be among the busiest as they try to respond to the huge growth in the industry and the demand for staff.
With staffing of course comes all the issues associated with that. Ensure your staff are drug tested to be fit for work before you hire them and then regularly afterwards. Call CMM Technology on +618-9204-2500 today to enlist their professional drug and alcohol testing products and services.