Australian Market Report of September 13, 2010: Arafura Resources (ASX:ARU) Successful Produced Commercial Quality Separated Rare Earth Oxides
ABM Resources NL (ASX:ABU) today announced a significant gold discovery at Buccaneer Gold Porphyry Prospect. Phase 1 drilling has recorded high-grade gold results including 202 metres @ 1.00g/t. The results represent the highest grade width intersections to date on this prospect, demonstrating the potential of the bulk-tonnage target. The Buccaneer Gold Porphyry Prospect is located only 1,800 metres away from ABM's high-grade Old Pirate Prospect.
Australia's leading and diversified contracting, engineering and services provider John Holland Group Pty Ltd, a wholly owned subsidiary of Leighton Holdings Limited (ASX:LEI), has been awarded a A$276 million marine contract which forms part of the early works for Rio Tinto's (ASX:RIO) Cape Lambert Port B Project in Western Australia's north-west. The contract package involves the construction of a 920-metre jetty and two-berth wharf, new shiploading facilities and associated piping works. The project, to be delivered as a collaboration between John Holland's Energy & Resources and Western Region businesses, will increase capacity at the Cape Lambert port by 50 million tonnes per annum.
Austpac Resources N. L (ASX:APG) has signed an agreement with CMC Cometals Australia ("CMCCA") for the supply of raw materials and for the marketing of Austpac Iron products, in the form of chips or briquettes and char, two valuable commodities that will be produced at Austpac's Newcastle Iron Recovery Plant. CMCCA is a division of CMC (Australia) Pty Ltd, which is owned by Commercial Metals Company (NYSE:CMC). The mutually renewable agreement will have an initial term of two years from the commencement of production and covers Plant commissioning and initial operations and contemplates Plant expansion.
Rio Tinto Limited
Commercial Metals Company
Cimic Group Ltd
Austpac Resources Nl
Arafura Resources Limted
ABM Resources NL