Barrick Gold outbids China's Minmetal - iMINCO Mining Training Information

Barrick Gold outbids China's Minmetal

The world’s biggest gold miner, Barrick Gold, has launched a $7 billion takeover bid for Perth-based Australian copper miner Equinox Minerals.

China’s Minmetals Resources has ruled out making a fresh bid for Equinox Minerals of Australia after the Canadian firm topped its offer, ending Beijing’s latest move on Australia’s mining sector.

Canada’s Barrick Gold, said on Monday it had struck a deal to buy Equinox for $7 billion, well above the $6 billion Minmetals offered earlier this month.

Minmetals’ bid for Equinox would have seen the biggest Chinese takeover of an Australian resources firm and could have created the 14th largest copper producer in the world.

Copper mining hits record price

 

Copper hit a record high of above $US10,000 a tonne in February.

Minmetals’ initial bid was the latest move by a Chinese state-owned firm to get a foothold in Australia’s mining sector as the Asian powerhouse looks to tap the continent’s huge natural deposits to feed its ever-growing economy.

Debate over Chinese control of resources

 

However, Beijing’s interest in its mining firms has sparked intense debate in Australia over whether to allow Chinese state-owned entities to increase their control over the country’s resources.

Commodity prices have hit record highs over the past few months, fuelled by heavy demand from economic powers China and India and sparking a series of mergers and acquisitions in the industry.

Barrick Gold is one of the major mining companies targeted in the placement program after completion of the underground work ready course. Read more about the work ready course and how it can help you get a start in the mines

Mining Job Information

 

Learn more about the Bowen Basin mining location.

The Bowen Basin contains the largest coal reserves in Australia. This major coal producing region contains one of the world’s largest deposits of bituminous coal.

The Basin contains much of the known Permian coal resources in Queensland including virtually all of the known mineable prime coking coal. It was named for the Bowen River, itself named after Queensland’s first Governor, Sir George Bowen.

The Bowen Basin covers an area of over 60,000 square kilometres in Central Queensland running from Collinsville to Theodore and is dotted with many coal mines operated by multiple mining companies.

Caterpillar Haul truck 793

Caterpillar Haul truck 793

The 793F has a load cpacityof 226.8 ton (US) and a top speed of 60 kilometres an hour. It's a turbocharged air-to-air aftercooled diesel engine that has enhanced power management capability for maximum hauling performance. The C175-16 is a 16-cylinder, four-stroke design that uses long, effective power strokes for optimum efficiency.

The 793F, is an autonomous-driven truck. Over 100 793F trucks are now operating via Command for hauling, the Cat autonomous truck operations system, which is a part of Cat MineStar™

Read more about the CAT 793 automomous mining dump truck on our website.

Resources and Infrastructure Industry (RII)

Commonly refered to as Black Coal Competency (BCC), the RII competency is one that can be attained by an operator who has previously worked in the industry and has completed a number of operating hours on various types of machinery.

RII competency is granted to prove correct and safe operation of mine site machinery. It is a very useful qualification to have, as it confirms the operator has the required experience and expertise.

Find out more about RII Competencies here

You can transfer your nationally recognised civil Excavator, Front End Loader or Dozer tickets only to RII Black Coal Competencies.

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