BHP Chief Executive Officer Andrew Mackenzie today updated progress on the Company’s roadmap to grow long-term shareholder value.

The Queensland Resources Council is extremely concerned to see the broadening of the work of the select committee into Coal Workers’ Pneumoconiosis (CWP) before the first inquiry has been finalised. QRC Chief Executive Ian Macfarlane said to change the scope at this stage is unhelpful.

SMT Scharf AG (WKN 575198, ISIN DE0005751986) improved its operating earnings by 8.7% to EUR 2.5 million in the fiscal year elapsed (2015: EUR 2.3 million). As expected at the start of 2016, revenue of EUR 42.6 million was tangibly below the previous year's level (2015: EUR 50.3 million). The Group achieved an EBIT margin of 5.9% (2015: 4.6%) on total operating revenue of EUR 42.2 million (2015: EUR 50.0 million). At the bottom line, SMT Scharf achieved a further year-on-year improvement in consolidated net income to EUR 1.9 million (2015: EUR 1.5 million).

The consolidated revenue of SMT Scharf AG (WKN 575198, ISIN DE0005751986) amounted to EUR 42.0 million in the 2016 fiscal year on the basis of preliminary IFRS results (2015: EUR 50.3 million). Operating profit improved year-on-year.

Production to decline by as much as 40 million tons; prices will not  benefit shareholders or stimulate new investment; anemic exports; few gains from regulatory relief; increasingly dim employment prospects

SMT Scharf AG is reporting a considerable improvement in its operating results during the first months of the current fiscal year. The declining revenue trend at the start of the year stabilised in the third quarter, reflecting robust service business offsetting reductions in new equipment business.

Production highlights

BAM reports nine months adjusted result of €64 million and reiterates full year outlook

The natural resources sector continues to play a vital role in underpinning the Queensland economy with an estimated $55.7 billion contribution to the state’s economy that delivers the equivalent of 309,500 full-time jobs across Queensland in 2015-16.

Boliden’s third quarter was primarily characterised by improvements in metal prices and high production in Mines. Revenues for the period totalled SEK 9,733 m (9,764) and the operating profit, excluding revaluation of process inventory, improved to SEK 1,318 m (1,055). The free cash flow was negatively affected by higher stock levels and totalled SEK 91 m (953).

The construction of the Abu Dhabi Deep Sewer Tunnel, one of the deepest gravity tunnels in the world, as explored in a documentary by National Geographic. Shown on September 5th at a premier event in the auditorium of the Emirates Palace in Abu Dhabi, "Megastructures: Abu Dhabi Super Tunnel" describes in detail the Strategic Tunnel Enhancement Programme (STEP), which was completed in 2014.

Production of vanadium feedstock peaked in 2013 and has since declined year-on-year.  The drop in supply is mainly a reflection of lower demand in 2014 and 2015, although more structural changes to supply-side market dynamics have also had an impact.  

BAM reports improved results and strong cash flow; reiterates full year outlook:

"Delivering on our debt reduction plan, underpinned by industry-leading cost performance and robust operating cash flows"

Glencore's Chief Executive Officer, Ivan Glasenberg, commented: "Since we announced our measures to reduce debt levels last September, we have made considerable progress towards achieving our goals.