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2009's top stories

WITH 2010 just hours away, <i>MiningNews.net</i> looks back at the stories that attracted the most reader interest.

Kate Haycock
2009's top stories

January - the end of the mining boom, according to MNn readers

One of our best read stories of the year came when we asked you, our readers, to tell us what effects you were seeing from "the end of the mining boom". Some responses were bullish, others were hopeful if cautious, some were resigned and still others took MNn to task for looking only at the grey clouds and not any potential silver lining. And it turns out most of the responses were accurate: there were tough times ahead, but many could already see the silver lining.

February - where to now for collapsed miners?

After a spate of corporate collapses and mine closures, MNn looked at how asset sales were progressing and if there was any chance the companies could be recapitalised.

March - another worker dies at a BHP Pilbara site

A series of deaths at BHP's Pilbara operations rocked the mining industry, with the Western Australian government even threatening to shut down mines that were deemed unsafe.

April - OZ lifeline worth $1.2B

The first half of 2009 was a tough time for OZ Minerals, with the company teetering on the edge of collapse until China's Minmetals charged in like the cavalry with a takeover offer.

However, the companies were forced to make a new deal when Treasurer Wayne Swan blocked the offer. The minister said the takeover could not go ahead if the Prominent Hill mine was included in the deal because the mine was close to the Woomera Prohibited Area weapons testing range in South Australia.

An 11th hour lifeline saw the mine excised from the new offer and left OZ with a bucketload of cash and one very appealing copper mine, while Minmetals got a swag of other quality assets and a major foothold in the Australian minerals sector. A happy ending for all.

May - mine of the times

If there's anything an MNn reader really loves, it is a big hole in the ground, and Citic Pacific's Sino Iron project is just that. The project shone a ray of optimism in the tough times of the first half of 2009, providing jobs, investment and plenty of drool-worthy bits of mining gear as well.

June - BHP to pay Rio $5.8B to create massive iron ore JV

June 5: Rio Tinto and BHP Billiton announced a massive iron ore joint venture combining the two companies' operations in the Pilbara, with Rio scrapping its deal with Chinese company Chinalco in the wake of the unprecedented move.

July - the Stern Hu affair

In something straight out of a John Le Carre novel, four Rio Tinto employees including one Australian, Stern Hu, were imprisoned in China, allegedly for "espionage". Given the timing of the BHP-Rio tie-up, the move caused a flurry of excitement here and abroad. Six months later, Hu and the others are still imprisoned and there is no word on a potential release or trial date for the men.

August - Boddington goes live

Newmont Mining's much-anticipated new WA gold mine joins an exclusive global list of 1 million ounce-plus gold operations that includes behemoths Freeport-McMoran's Grasberg mine and Barrick Gold's Goldstrike Property. When it ramps up to full production, Boddington is set to become Australia's largest gold operation, producing around 1Moz gold each year at a cash cost of $US300 an ounce.

September - the 2009 World Risk survey

Every year, the World Risk survey from our sister publication RESOURCESTOCKS attracts plenty of interest. This year, Australia improved its standing but Western Australia performed miserably as one of the riskiest Australian provinces for miners.

October - Olympic Dam haulage damaged

An accident on October 6 closed the main Clark Shaft at BHP Billiton's massive Olympic Dam operation, leaving only a secondary shaft in operation. Ore haulage is expected to be around 25% of capacity until full production at Olympic Dam resumes in the third quarter of the 2010 financial year.

In the 2009 financial year, the mine produced 194,000 tonnes of copper cathode, 4007t of uranium oxide, 108,000oz of gold and 940,000oz of silver.

November -Galaxy breathes new life into Ravensthorpe

By 2010 Galaxy Resources expects its Mt Cattlin lithium mine, located at BHP Nickel West's former spiritual home of Ravensthorpe, will be the world's second-largest hard rock producer of spodumene.

December - First Quantum wins Ravensthorpe bid

The year began with Ravensthorpe closing as nickel prices plummeted and so it seems fitting that 2009's last best-read story was about the potential rebirth of the nickel laterite mine.

BHP Billiton sold the mine to Canada's First Quantum Minerals for $US340 million ($A376 million) and First Quantum has said it is committed to reopening the mine within a "realistic" timeframe.

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