Mining

Kingwest Resources has raised $4 million via a share placement, while St George Mining has also completed a share placement, raising $3.3 million.

Central Norseman Gold Corporation (CNGC) has been fined $150,000 in the Kalgoorlie Magistrates Court today over the death of a worker two years ago at the company’s processing plant at its Norseman gold mine.

Zenith Energy has raised $4.8 million via a shortfall placement, having raised just $220,000 in a share purchase plan last month.

Mineral Resources has secured Chinese regulatory approval for its $US1.15 billion Wodgina stake sale, and was the best performer among the ASX 200 today, despite the miner also releasing weak quarterly results.

Resources services provider Babylon Pump & Power has entered into a conditional agreement to acquire diesel engine specialist Primepower Queensland for up to $4.2 million.

The chief executive of iron ore exploration and development company Elmore, formerly IndiOre, has confirmed his brother’s law firm undertook the independent review into the business’s failed project expansion, which was approved and under construction despite no adequate mineralisation being discovered.

Updates from two WA lithium miners today have highlighted the extent of the supply glut in the industry, with Pilbara Minerals confirming it will scale back production and Alita Resources launching a strategic review.

Fortescue Metals Group anticipates slightly higher iron ore shipments in the 2020 fiscal year, but the iron ore miner also flagged higher production costs, which it put down to inflationary and haulage pressures.

Investors have welcomed Valmec’s announcement that it expects to record a 64 per cent rise in net earnings for the 2019 fiscal year.

Newcrest Mining says its gold output rose 4.2 per cent in the fourth quarter as production at its Cadia and Lihir mines ramped up.

Sandfire Resources has announced record fiscal year production, however, its gold output is set to fall this financial year.

A man has been charged after allegedly stealing small pieces of gold from several Western Australian mine sites and selling them for more than $81,000.

Worsley Alumina has locked in gas supply deals with Chevron and Woodside Petroleum today, as Santos chief executive Kevin Gallagher warns of a looming price spike.

Kalium Lakes is on the verge of becoming Australia’s first sulphate of potash producer, after it launched a rights issue and placement that will complete funding for its Beyondie project.

Bellevue Gold is seeking to raise $18.5 million via an institutional share placement to fund ongoing exploration at its namesake project, and announced a director sell-down.

Swick Mining Services has secured extensions with Northern Star Resources and Barrick Gold, as well being selected as a preferred tenderer by Silver Lake Resources.

Pacific Energy has enetered a trading halt today, ahead of an announcement regarding a takeover offer for the remote power provider, with competitor Zenith Energy enjoying a share price surge on the news.

At least three institutional investors in Australia are pushing for global miner BHP to consider external candidates to replace Andrew Mackenzie as new CEO, sources with direct knowledge of the matter say.

Blackham Resources has struck a deal to sell its Lake Way tenements to Salt Lake Potash for $10 million in cash.

Gold producers Regis Resources and Westgold both recorded small production increases for the 2019 financial year, but all-in sustaining costs are set to increase

Ningbo Shanshan, which last month became Altura Mining’s largest shareholder, has invested an additional $22.4 million in the lithium miner via a share placement.

AIC Resources has struck a deal to spend up to $10 million in cash for a majority stake in Rumble Resources’ Lamil gold-copper project in the Paterson Province.

Northern Minerals is set to raise $30 million via a private share placement as it seeks to advance its Browns Range rare earths project in the east Kimberley.

Saracen Mineral Holdings has recorded an increase in full-year production in line with guidance, while its costs were lower than expected.

Mineral Resources and Brockman Mining have deferred the agreement for key infrastructure works at their $300 million Marillana iron ore project by up to a year, as MinRes seeks more time to satisfy preconditions.

Western Areas has struck an offtake sale and purchase agreement with Sumitomo Metal Mining for product from its Forrestania nickel operation.

The gold price touched an all-time high today in Australian dollar terms, sending the shares of many of the country’s gold miners surging, led by Resolute Mining and Northern Star Resources.

Pacific Energy has secured a contract to supply electricity to Round Oak Minerals’ Jaguar copper-zinc mine in the Goldfields.

International energy consultancy Xodus Group has announced that it signed an agreement to acquire North Fremantle-based Green Light Environmental.

De Grey Mining is seeking to raise $22 million via a share placement and rights issue to complete the acquisition of Indee Gold.

South32 expects to reach nameplate capacity at its Worsley alumina operation this financial year, and revealed its coking coal production rose sharply from the year prior.

The pre-feasibility study of Calidus Resources’ Warrawoona gold project in the Pilbara has detailed a $95 million capital cost.