Worker found dead at Western Australian gold mine
A contractor was found dead at Saracen Mineral Holdings’ Red October mine near Laverton on Wednesday night.
In a brief statement, the gold miner said the employee of a contractor based at its Red October mine was found in his room.
A police spokesperson told MiningNews.net the man was believed to be 45 years of age and the death was not suspicious.
Saracen notified authorities and has offered to provide assistance, including counselling services, to the family and colleagues of the man.
“This is a very sad occurrence and our thoughts and prayers go out to the family, friends and work mates of the man at this time,” Saracen managing director Raleigh Finlayson said.
Pybar Mining Services is the contractor at Red October, employing around 75 people.
Red October is around 120km northeast of Saracen’ Carosue Dam processing plant and 15km south of AngloGold Ashanti’s Sunrise Dam operations.
Support is available for those who may be distressed by phoning Lifeline 13 11 14.
200 Olympic Dam jobs at risk
About 200 jobs at BHP Billiton’s Olympic Dam mine are in limbo after a key contractor was placed in administration, according to The Australian.
Roxby Downs-based Heading Contractors, which had won lucrative contracts on BHP’s shelved $A28 billion expansion project, was placed under the control of receivers McGrath-Nicol on Monday, with debts of $16 million.
Receiver Sam Davies said the 25-year-old company had ¬invested heavily in anticipation of the mine’s expansion, with most of its debt related to mining equipment.
“It took a position in relation to whether BHP would expand or not, and was on the wrong side of the call when it did not proceed.”
Iron ore slump seen as no bar to Rio, BHP buybacks and higher dividends
The Age reports that iron ore's slump to a five-year low isn't expected to prevent the world's two biggest miners, BHP Billiton and Rio Tinto, returning cash to investors, a J P Morgan Chase & Co fund manager said.
"You have to remember the very large operating margins which can still be achieved within iron ore," James Sutton, a portfolio manager at J P Morgan's $1.6 billion Natural Resources Fund in London, said in an interview. There's "a lot of scope for shareholder returns," as Rio and BHP are curbing investment in marginal projects, he said.
The steel-making ingredient slumped to the lowest in five years this month prompting Goldman Sachs to declare the "end of the Iron Age" after a Chinese-led demand spike over the last decade prompted record profits for BHP and Rio. As investors demand a greater share of mining industry profits, the largest iron ore producers are flooding the market with new supply, trimming prices.
