South32 has announced it is in talks to sell its struggling South African energy-coal business to Seriti Resources, but its Worsley alumina operations performed strongly.
Seven Group Holdings has reported a 40 per cent surge in full-year underlying earnings but a $291 million write-down in the value of its media business, which hit its bottom line.
Emeco Holdings tripled its profit for the 2019 financial year, but its shares dropped 9 per cent today after it flagged flat earnings in the first half of this fiscal year.
Business News has updated its listing of WA’s biggest mining projects to reflect the downturn in lithium, the dearth of new gold mines and the increasing dominance of iron ore.
Technology Metals Australia has released the definitive feasibility study for its Gabanintha vanadium project, which revealed a longer-life operation than previously planned.
Australian Vanadium has raised $3.5 million in capital to advance its vanadium project near Meekatharra, while Volt Resources has raised $1.6 million to fund the development of its Bunyu graphite project in Tanzania.
Cazaly Resources has received a $20 million offer from Mineral Resources for its Parker Range iron ore project in the Yilgarn region of Western Australia.
Nickel producer Panoramic Resources has announced the forthcoming retirement of its managing director Peter Harold after more than 18 years of service.
Engineering and construction contractor Monadelphous has announced a major contract with lithium producer Albemarle, on the same day the group expressed caution about its outlook following a decline in earnings last financial year.
Alita Resources and its major lender have entered into a standstill agreement after Tribeca Investments issued a default notice to the struggling lithium miner.
Strong gold prices and higher production levels have helped lift revenue at gold miners Saracen Mineral Holdings and Regis Resources, with Saracen’s net profit up 22 per cent to $92.5 million.
Mining technology supplier Imdex has announced the forthcoming retirement of its managing director Bernie Ridgeway after delivering record revenue and higher earnings for the 2019 financial year.
Mid-tier goldminer Saracen Minerals Holdings has reported record full-year profit of $92.5 million, up 22 per cent from the previous financial year, while Regis Resources reported a profit decrease.
Gold explorer Orecorp is raising $13.3 million from an institutional share placement to fund its move to full ownership of the Nyanzaga gold project in Tanzania.
Ora Banda Mining, formerly known as Eastern Goldfields, has continued its revival after gaining commitments to raise $18.5 million through a share placement.
Newcrest Mining has posted a 22.2 per cent increase in annual profit, buoyed by robust gold and copper sales volumes from its flagship Cadia mine in NSW, while its Western Australian Telfer project also performed well.
Northern Minerals is set to raise $20 million via a private placement, the latest in a string of significant capital raisings the rare earths hopeful has undertaken this year.
Millennium Minerals has appointed Warren Hallam as managing director, marking Mr Hallam’s return as the leader of a junior miner since his short-lived stint at Capricorn Metals ended abruptly in March.
Shares in Castle Minerals have risen by as much as 150 per cent today, after the junior gold explorer signed a $US11.7 million ($17.2 million) farm-out agreement for two of its licences in Ghana.
Civmec has announced $120 million of new work, led by a contract to build and instal the primary crushing and ore processing facility at Fortescue Metals Group’s Eliwana iron ore mine.
ANALYSIS: An $A record gold price has the sector abuzz, while the sharp correction in iron ore prices will expose the looming reliance on WA’s vast deposits of low-grade ore.
Monadelphous has secured a $60 million contract for work on Rio Tinto’s Pilbara rail network, the latest of a string major contracts it has received from the mining giant.
Twelve big companies have pledged to lift their indigenous procurement to 3 per cent of their annual spend, seeking to match targets the federal and state governments have already set for their own agencies.
PCF Capital has struck a joint venture deal with Zhaojin International Mining, as the Hong Kong-based company looks to invest in the Australian gold sector.
