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19.05.2020 (683 Clicks)

QRC farewells New Hope’s Shane Stephan

The Queensland Resources Council (QRC) has thanked Shane Stephan for his distinguished leadership as Chief Executive Officer & subsequently Managing Director of the New Hope Group after 11 years with the company.
QRC Chief Executive Ian Macfarlane said New Hope Group announced Shane would retire from the company at the end of August.

16.05.2020 (660 Clicks)

QRC welcomes more Land for Gas Exploration

The Queensland Resources Council, the peak organisation for the State’s coal, metal and petroleum producers, explorers and suppliers, has welcomed the release of more than 6,700 square kilometres of land in the Surat and Bowen basins between Blackwater and Goondiwindi for gas exploration including domestic-only gas.

15.05.2020 (893 Clicks)

Call-for-Papers of the US Conference for Underground Construction RETC 2021 has started

The 2021 RETC abstract submission site is now available. You can help contribute to a dynamic technical program next June by sharing innovative solutions and outcomes to interesting or unique challenges.

15.05.2020 (705 Clicks)

Olive Downs Coking Coal Project in Australia receives Federal Environmental Approval

Pembroke Resources has received approvals from the Department of Agriculture, Water and the Environment under the Environment Protection and Biodiversity Conservation (“EPBC”) Act for its Olive Downs Coking Coal Project (“Olive Downs”) in Central Queensland.

14.05.2020 (796 Clicks)

Costain to take important Role in Shaping UK Industry’s Journey to net Zero by 2050

UK Research and Innovation recently announced funding for the first phases of the Deployment and Roadmap programme for industrial decarbonisation strategies, run on behalf of the UK government.

14.05.2020 (684 Clicks)

Senex delivers more Power for Queenslanders

Senex Energy has signed a new gas supply agreement with 2.55 petajoules (PJ) of natural gas flowing from the company’s Atlas operations to CleanCo the new publicly owned generator of low-emissions electricity.

14.05.2020 (774 Clicks)

SMT Scharf AG: Business in Q1/2020 burdened significantly by Coronavirus

• Consolidated revenue down to EUR 10.7 million due to coronavirus pandemic
• Operating result (EBIT) decreases to EUR -2.1 million
• High order book position of EUR 29.4 million reflects delayed order processing
• Subdued outlook in the mining equipment market owing to Covid-19 effects

13.05.2020 (726 Clicks)

SEMAFO: Cash Flow from Operating Activities - Transaction Update

SEMAFO Inc. (TSX, OMX: SMF) announced results of operations for the three-month period ended March 31, 2020.

13.05.2020 (679 Clicks)

BAUER AG starts off the Financial Year with a slight Drop in Sales and increased Order Backlog

The BAUER Group closes the first quarter with a decline in EBIT but very high order backlog. The total Group revenues decreased by 5.0% from EUR 410.9 million to EUR 390.2 million, compared to the same period of the previous year. Sales revenues also dropped by 2.3%, from EUR 341.9 million to EUR 334.0 million. EBIT fell from EUR 10.5 million in the previous year to EUR 6.3 million. Earnings after taxfor the Group were EUR -5.0 million, compared to EUR -5.1 million in the previous year.

The order backlog in the Group was EUR 1,092.7 million, significantly higher than the previous year at EUR 1,022.6 million and the end of 2019 at EUR 1,027.6 million, which was mainly due to the Construction segment. The order intake increased by 8.4%, from EUR 419.8 million to EUR 455.2 million.

Business segments

With its three segments – Construction, Equipment and Resources – and its broadly diversified business model, the Group operates in more than 110 subsidiaries in some 70 countries around the world.

At EUR 177.1 million, total Group revenues in the Construction segment were up by 4.1% compared to the previous year at EUR 170.2 million. EBIT decreased slightly compared to the previous year to EUR -0.5 million. The order backlog in the Construction segment saw a significant increase of 18.9%, from EUR 545.8 million to EUR 649.1 million. Compared with EUR 638.6 million at the end of 2019, however, there was virtually no change. The order intake rose by 11.2% to EUR 187.6 million, compared to EUR 168.7 million in the previous year.

In the first three months of the year, total Group revenues in the Equipment segment fell by 11.9%, from EUR 185.8 million to EUR 163.8 million, when compared to the same period of the previous year. Sales revenues also dropped by 12.3%, from EUR 125.3 million to EUR 110.0 million. EBIT decreased compared to the previous year, from EUR 8.2 million to EUR 4.8 million. The previous year included a non-operating charge of EUR 4.5 million that was attributable to the earnings-affecting restructuring of a subsidiary, which was transferred from the Resources segment to the Equipment segment. Without this effect, the decrease would have been even more significant. Order backlog in the Equipment segment decreased by 12.8%, from EUR 149.9 million in the previous year to EUR 130.7 million. With EUR 186.2 million, order intake remained at the previous year’s level of EUR 185.8 million.

With EUR 70.7 million, total Group revenues in the Resources segment were slightly higher at the end of the first quarter than the previous year’s EUR 69.1 million, marking an increase of 2.2%. EBIT fell from EUR 2.7 million to EUR 1.5 million. However, the previous year already included the described positive non-operating contribution of EUR 4.5 million. Without this effect, EBIT would have improved by EUR 3.3 million compared to the previous year. In the first three months of the year, the order backlog decreased by 4.3% from EUR 326.9 million to EUR 312.8 million. The order intake rose significantly by 29.2%, from EUR 79.6 million to EUR 102.8 million.

Financing

Due to the loss at the end of 2019, the Group was unable to keep to its covenants agreed with the banks. At the end of April, the company reached an amicable solution concerning financing with the financing partners for the syndicated loan agreements. This is now being discussed with the other financing partners involved to the same extent.

Outlook

'Overall, the key figures for the first quarter in the Construction and Resources segments were not yet heavily affected by the coronavirus pandemic. However, in the Equipment segment we are seeing restraint among customers. There is a glimmer of hope with the sales situation in China, which is noticeably picking up again,' remarks Michael Stomberg, Chairman of the Management Board of BAUER AG. 'The worldwide effects and potential consequences for business fundamentally entail a significant amount of uncertainty for the current financial year and outlook.'

Due to the uncertainties in global equipment sales and the partially disrupted construction operations, the Group reacted with short-time work for some companies in Germany and also initiated corresponding measures in other countries. Short-time work primarily applies to the Schrobenhausen machine production location, but also many areas of construction operations and administration functions.

Although the general situation involves considerable uncertainty, on the basis of the weak business figures for 2019 the Group currently still expects to achieve a slight increase in total Group revenues, a significant increase in EBIT and a significant increase in earnings after tax in the positive area for the 2020 financial year.

Source: Bauer

                     

13.05.2020 (790 Clicks)

Anglo American supports global Fight against gender-based Violence through their WeCare Lives and Livelihoods response to COVID-19

Anglo American is providing extensive support to its employees and host communities through its global WeCare lives and livelihoods programme response to the COVID-19 pandemic. As part of the WeCare programme, Anglo American today announces its contribution towards accelerating the fight against gender-based violence, given the significant increases in cases of gender-based violence in many countries during lockdown.