ANXIETY over foreign investment is compounding the funding challenges created by the global financial crisis, according to the junior mining executives at the recent WA Business News roundtable.
Sydney-based RIMCapital has written off its investment in unlisted company Yilgarn Infrastructure Ltd, which was the unsuccessful bidder for the development of the Oakajee deepwater port and associated rail project.
West Perth-based Antares Energy has pocketed $10 million and plans to raise a further $2 million to buy additional Eagle Ford shale acreage in Texas and boost working capital.
South Korea's Samsung Corporation has agreed to invest $40 million to take a small direct interest in Perdaman Chemicals & Fertilisers' $3.5 billion Collie urea project.
Perth office vacancies worst in 17 years; RBS deal furthers ANZ's Asia push; Bankers punt on renewed appetite for IPOs; Avoca chief warns rival for Dioro is unproven; Rates on hold, but not for long
Atlas South Sea Pearls expects to record a half-yearly profit of $2 million on the back of a general downturn in demand for luxury goods, offset by cost savings implemented by the Subiaco-based company.
Bendigo and Adelaide Bank expects its full-year earnings to be cut by a further 16 per cent after making extra provisions against its $550 million exposure to investors in Great Southern agribusiness schemes.
Western Australia's house price index has risen 2.7 per cent in the June quarter, in line with the national upward trend, the Australian Bureau of Statistics said today.
Development of Galaxy Resources' Mt Cattlin lithium project is ramping up with the emerging producer awarding a key contract to the DRA Pacific, Mintrex and BEC Engineering joint venture.
Shares in West Perth-based Metals Australia have plunged today after a Namibian court ruled two of the explorer's prospecting licences be turned over to their original owner.
Moly Mines has warned its future depends on the success of debt restructure talks with its lender as project acquisition plans are put on the backburner.
The state government has conditionally agreed to build part of a major power line in the Mid West after it omitted the upgrade in this year's budget due to a substantial cost blow-out.
The state's resource companies have led a strong rebound in the Deloitte WA Index in the second half of the 2009 financial year, with the market capitalisation of stocks jumping 30 per cent in the June quarter.
A group of Perth businessmen have won a three-year battle against Western Areas directors Terry Streeter and David Cooper, with the Supreme Court today awarding nearly $65 million to unrelated company Western Areas Exploration.
Western Australians are a negative lot compared to the rest of the nation with nearly half responding to a home finance survey believing their property values will decline in the next quarter.
Macmahon Holdings has been awarded a $60 million contract by the Ulan Line Alliance for rail construction work as part of plans for increased coal output in the Hunter Valley.
Shares in Dioro Exploration have surged as it urges shareholders take no action on Ramelius Resources' $92 million all-scrip takeover bid, a higher offer to Avoca Resources' recommended proposal.
Mining services company NRW Holdings, in joint venture with the Ngarluma Yindjibarndi Foundation, has been awarded a $15 million construction contract by Rio Tinto.
Avoca Resources' recommended takeover offer for Dioro Exploration has been trumped by Adelaide-based Ramelius Resources, which today launched a superior $92 million all-scrip offer for the gold miner.
Neptune Marine Services says it has ended negotiations over a US-based acquisition as it progresses its plans to acquire Singaporean company Core IRM for $11 million.
Perth-based Sino Gas & Energy plans to list on the local stock exchange in the coming months as it prepares to launch a $10.3 million rights issue and initial public offer.
The Australian Institute of Company Directors says existing insider trading laws and rules governing director share trading are adequate and do not need tightening as recommended by the federal government's market advisory committee.
Osborne Park-based A1 Minerals has received environmental and mining approvals for its Brightstar gold project, with production slated to start in the December quarter this year.
Treasurer Troy Buswell has flagged a possible overhaul of an act governing the public sector as the state government starts a reorganisation of its administration.
