MNN's Top 10 of 2016

THESE were the top 10 best-read stories on MiningNews.net this year.
MNN's Top 10 of 2016 MNN's Top 10 of 2016 MNN's Top 10 of 2016 MNN's Top 10 of 2016 MNN's Top 10 of 2016

 

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1. Jobs slashed in major South32 restructure, February 4 

In February, South32 announced write-downs, cost reductions and "substantial" job cuts as its battled lower commodity prices.

The company flagged a pre-tax, non-cash charge of around $US1.7 billion in its half-year financial results due to the downward revision to commodity prices and demand.

2. Aussie company sitting on potential giant, July 13

In July, we introduced readers to SolGold and its Cascabel discovery in Ecuador.

While the story attracted a lot of attention, SolGold ended up attracting the attention of Newcrest Mining and BHP Billiton.

3. Former Vale CEO killed, March 21

Tributes poured in for former Vale CEO Roger Agnelli, who died in a plane crash in Brazil.

Agnelli was president and CEO of Vale between July 2001 and May 2011 and was chairman for a year before that, overseeing the $US20 billion acquisition of Inco during that time.

4. Worker killed at Rio mine, June 20 

A man was killed at Rio Tinto's Channar iron ore mine in the Pilbara.

The 32-year-old received fatal injuries while working on a drill.

5. The boom is back, baby! May 24

Lion Selection's Hedley Widdup declared in May that the market was in the early stages of a new mining boom.

Widdup told the Resources Rising Stars conference on the Gold Coast that the Lion mining investment clock had hit 6 o'clock- signalling the start of a new boom.

6. FMG trumps Rio, BHP in iron ore cost battle, February 24 

Fortescue Metals Group wowed the market with its half-year results by reporting a profit and lowering its cost guidance.

FMG said it expected C1 cash costs of just $US13 per wet metric tonne.

7. Rio swings the axe in WA, March 15 

Rio Tinto started cutting up to 700 workers from its iron ore division.

MNN understood the cull started with jobs cut from the Perth office, as well as at the operational level in the Pilbara.

8. How to annoy Tom Albanese, February 10 

At Indaba in February, former Rio Tinto CEO Tom Albanese reacted angrily to an analyst who suggested metals wouldn't improve until 2030.

"I do think we are going to see some stabilisation of the numbers in China, and I do believe we are in a soft-landing mode there, and I also see and read that there is a very accelerated post-industrialisation change in China which has not yet been fully anticipated by the markets," the Vedanta CEO said.

9. Market blindsided by Triton collapse, March 3 

The collapse of Triton Minerals was one of the most surprising stories of the year.

The company had cash and had only released a bullish update days earlier.

10. ASIC cracking down, April 28 

Miners were alarmed by the Australian Securities and Investments Commission's updated guidance on forward-looking statements in April.

It triggered months of lobbying by the sector, with miners yet to find a happy medium with regulators.

*The list excludes Dryblower columns. You can read his best work of the year here.