Mining

In an initiative led by the Chamber of Minerals and Energy of WA, the Western Australian resources sector has pledged $6.6 million to Royal Flying Doctor Service Western Operations, Foodbank WA and Lifeline WA.

Mining services company Mader Group has taken the decision to withdraw all personnel from its overseas operations, with the US the only exception.

I was involved in a private discussion group today where the question was asked whether we would experience a V-shaped or U-shaped recovery.

The Kerry Stokes-backed BCI Minerals has agreed to co-fund further development of the Iron Valley mine in the Pilbara, as part of a package of deals that will see Mineral Resources buy its Buckland

Emerging iron ore company Flinders Mines is looking to raise up to $14.52 million under a non-renounceable rights issue, with the funds primarily used to repay a loan from its major shareholder Todd Corporation.

SRG Global has withdrawn its full-year earnings guidance and deferred an interim payout to shareholders, citing the uncertain situation around COVID-19 and rapidly evolving virus-related measures.

UPDATED: Woodside Petroleum has dropped plans for a 14-week fly-in, fly-out roster after presenting the option to its staff, opting instead for a less radical change as the oil and gas giant, along with mining companies, seeks to reduce the amount of travel to its remote sites.

Engineering company Primero Group has secured further work with Rio Tinto under $20 million in contract variations, while at the same time maintaining its full-year earnings guidance.

Goldminer Red 5 is raising $125 million from a two-tranche share placement to fund the final feasibility study for its King of the Hills gold mine in Western Australia.

Buru Energy said today it has maintained production at its Ungani oil project in the Kimberley but has joined other resources companies, including Australian Vanadium, in cutting salaries, directors fees and other spending to preserve cash during the COVID-19 pandemic.

Saracen Mineral Holdings has maintained its full-year production guidance, saying COVID-19 measures would have minimal impact on March quarter production, in contrast to yesterday's update from fellow gold miner Northern Star Resources.

South32 has temporarily suspended its manganese and coal production in South Africa, while also withdrawing full-year guidance for its international operations, in response to coronavirus-related g

Blue-chip miner Northern Star Resources has predicted the rest of the industry will be forced to follow its lead in making radical and costly changes to their operations to deal with the fallout from the COVID-19 pandemic.

Pilbara Minerals has signed a five-year offtake agreement with China-based Yibin Tianyi to supply lithium from its Pilgangoora project in Western Australia.

Perenti Global has put dividends on hold to boost its financial position in response to the COVID-19 pandemic, but says the virus has not yet affected the business.

Bellevue Gold has received commitments to raise $26.5 million through a share placement, as the company seeks to upgrade resources at its flagship project in Western Australia.

Mining companies are scaling back their operations, with Newmont Corporation and Kirkland Lake Gold cutting exploration in Australia and others including Rio Tinto shelving some of their international mines.

Fortescue Metals Group said today it expected to meet its annual shipments guidance, as the mining sector started adapting to travel restrictions that will crimp fly-in, fly-out operations.

BHP has announced it is establishing a $50 million Vital Resources Fund to help support regional Australian communities in areas of its operations, including the Pilbara and Goldfields regions, fac

Strandline Resources has completed a raising announced in January, while Southern Gold has cut the size and pricing of a planned capital raising.

Lynas Corporation and Galaxy Resources have suspended operations in response to tighter overseas government controls, while explorer Whitebark Energy has also felt the impacts of COVID-19.

Lithium miner Neometals has declared a partially franked dividend of 2 cents per share, despite challenging economic times and after the company delivered $45 million to shareholders over the past four years.

BHP will hire 1,500 temporary workers across the country on six month contracts, with at least 400 to be at Western Australian iron ore operations, Business News understands, while Woodside has pledged to cut payment times for contractors.

BHP will start paying invoices from small business suppliers after just seven days and has created a $6 million fund to support labour hire companies affected by COVID-19.

Mineral Resources boss Chris Ellison has struck a deal with his brother Andrew Ellison's company to sell two of its non-core manganese assets while also providing project funding and mining services assistance.

Engineering and construction contractor Monadelphous no longer expects its revenue to grow by 10 per cent this financial year, saying the economic slowdown and uncertain outlook meant it was unable

More than half of Spectrum Metals shareholders have accepted $208 million takeover by Ramelius Resources, resulting in a wholly unconditional offer.

Civil and mining contractor NRW Holdings has been awarded an airport upgrade contract with BHP at its Olympic Dam project in South Australia.

Hancock Prospecting subsidiary Atlas Iron has awarded a $38 million contract to MACA for early civil work at the Corunna Downs iron ore project in the Pilbara, nearly two months after it was a

Russia-based Nordgold is looking to expand its operations in Africa by making a takeover bid for Cardinal Resources after increasing its stake in the West Perth-based company to nearly 20 per cent.

Horizon Minerals has executed a $4 million loan facility with a German investment group, while also announcing a share placement to raise $2 million to fund the development of its Boorara gold project in Western Australia.

SRG Global has secured a five-year contract with Saracen Mineral Holdings to provide drill and blast services at the Thunderbox and Carosue Dam operations in Western Australia.