Mining

Gina Rinehart’s Hancock Prospecting and its subsidiary Roy Hill Holdings have delivered bumper profits off the back of higher iron ore prices, with Hancock posting a profit of $2.6 billion for the year to June 2019.

Nickel-explorer St George Mining has completed an institutional-led placement to raise $5.8 in funding for its flagship project at Mt Alexander, in the north-eastern Goldfields of Western Australia.

Perth-based mining services company Mader Group has recorded annual revenue growth of 46 per cent, to $228.6 million, in its first annual report since listing on the ASX.

Perth-based Wright Prospecting has confirmed its status as one of the country’s most profitable companies, lifting its annual earnings on the back of higher iron ore prices and paying a whopping $172 million dividend to its owners.

Federal Labor leader Anthony Albanese has used a speech in Perth to defend the importance of the mining industry, saying the market should be allowed to determine which projects, including in the coal sector, are able to proceed.

Uranium miner Paladin Energy has appointed Cliff Lawrenson as its non-executive chairman, after Rick Crabb announced his intention to step down from the role.

Australian Vanadium has signed an option to build a vanadium processing plant at a site east of Geraldton, as it continues to work on a potential mining project.

Eagle Mountain Mining has announced plans to add to its tenements in Arizona, with a proposal to acquire 80 per cent of the Oracle Ridge copper mine.

Cardinal Resources is pressing ahead with engineering studies for its Namdini gold project in Ghana after completing a feasibility study that delivered what it called a compelling and robust outcome.

Azumah Resources’ firm rejection of Ibaera Capital’s initial takeover offer has paid dividends, with the private equity group agreeing to increase its offer for the West Perth-based miner.

Junior gold explorer Carawine Resources has announced a $6 million farm-in and joint venture agreement with Rio Tinto to explore its tenements in the Paterson province in the Pilbara.

Perenti Global subsidiary Ausdrill and Fortescue Metals Group have struck separate partnership deals with hockey teams, including the national women's and men's hockey teams.

Resolute Mining was the gold medal performer on the ASX 200 this morning, as investors welcomed news that a broken processing circuit at its Syama operations would not affect its production guidance.

Subiaco-based Tao Commodities has added to the growing interest among junior mining companies in the Western Australian iron ore sector, after it signed a binding term sheet to buy DSO Mining in a scrip deal worth at least $3.27 million.

Fortescue Metals Group has recorded a 5 per cent rise in shipments for the September quarter, buoyed by sustained demand for the steel-making ingredient from China.

NRW Holdings subsidiary, RCR Mining Technologies, has secured a contract to design and construct a fifth relocatable crushing plant for Fortescue Metals Group's Cloudbreak iron ore mine in the Pilbara.

Galaxy Resources will scale back shipments from its flagship Mt Cattlin mine by up to 48 per cent, as weak global demand for lithium continues to linger.

ASX-listed TNG is seeking a dual listing on the main market of the London Stock Exchange, as the Subiaco-based company hunts for investors to get its $824 million Mount Peake vanadium-titanium-iron project off the ground.

West Perth-based Vimy Resources has announced commitments to raise $3.9 million through a share placement and up to $3 million through a share purchase plan to fund the development of its uranium projects in Western Australia and the Northern Territory.

Nickel miner Panoramic Resources has announced Victor Rajasooriar will commence as its new managing director and chief executive on November 11.

Rio Tinto is studying ways to extract lithium from waste rock at a mine it controls in California, making it the latest company trying to produce the battery metal in the US for the fast-growing electric vehicle market.

Gold miner Saracen Mineral Holdings has produced a record 96,324 ounces for the September quarter, at a lower cost than it anticipated.

Independence Group has more than doubled its quarterly profit, as it benefited from surging nickel and gold prices.

Minister for Ports and Regional Development Alannah MacTiernan says a multi-billion dollar Oakajee port and rail project is unnecessary and Sinosteel’s Midwest general manger said there were no guarantees the company would push ahead with the project.

OPINION: Australia is seeking to find a delicate balance in terms of trade with a major customer, China, and its strategic alliance with the US.

Geopacific Resources has completed a $40 million share placement, and aims to raise a further $5 million via a share purchase plan to fund its $198.5 million Woodlark gold project in Papua New Guinea.

Fortescue Metals Group has failed to overturn a native title ruling covering its Solomon iron ore mine in Western Australia's Pilbara region.

The use of renewable energy in the mining sector is being given a boost, with the federal government and Alinta Energy jointly funding a $200 million solar facility that will help to power Fortescue Metals Group’s iron ore mines.

St Barbara was the biggest loser on ASX 200 this morning, after it lowered production guidance at its Gwalia gold mine in Western Australia.

BHP shareholders are poised to reject a motion urging the world's biggest listed miner to suspend membership of some industry bodies judged to be at odds with goals to tackle climate change.

BHP says it will make a final investment decision on its long-delayed Jansen potash project by early 2021, and announced its South Flank iron ore project is now half complete.

Shares in Northern Star Resources slumped today following the release of a quarterly update for its Pogo mine in Alaska, but the gold miner has assured investors that the weak results from the highly-touted operation were expected.