Mining

The independent directors of Finders Resources have questioned some of the claims and assumptions used by Indonesian group Eastern Field Developments, which has announced a takeover offer for the West Perth company.

Perth-based Emeco Holdings has added to the acquisition of two east coast mining equipment rental businesses, today announcing a $70 million takeover of fellow Western Australian company Force Equipment.

Indigenous contracting group Eastern Guruma, which has contracts or joint ventures with the likes of Rio Tinto, Fortescue Metals Group, NRW Holdings and Carnegie Clean Energy, has been placed into administration.

Mark Creasy has emerged as a substantial shareholder of Myanmar Metals as the explorer continues to recover after a troubled year.

Fortescue Metals Group, Iluka Resources and Rio Tinto are among the five overall category winners in the 2017 state government’s Awards for Excellence.

Ausdrill's long-serving chairman, Terry O’Connor, has announced he is handing over the reins to his deputy Ian Cochrane later this year, putting to rest a 24-year career with the mining services business.

Gold miner Doray Minerals is considering a joint venture arrangement with Metals X spin-out Westgold Resources over its Gnaweeda project.

Perth-based Altech Chemicals has received firm commitments for a $17 million capital raising to fund ongoing development of its high-purity alumina plant in Malaysia.

Chinese company Tianqi Lithium has approved the second stage of its processing plant in Kwinana, a $300 million investment to double production capacity to 48,000 tonnes of lithium hydroxide per annum.

Fortescue Metals Group is on track to the meet its annual iron ore shipments forecast but has downgraded its guidance on the price it expects to realise.

Exports through Port Hedland could reach 700 million tonnes per annum within a decade, contributing an extra $4.8 billion to Australia’s GDP, according to a report by ACIL Allen, as debate continues about the impact of iron ore dust on the nearby township.

Local graphite companies Volt Resources and Sovereign Metals have announced plans to raise a combined $45.4 million from investors to fund development of their operations in Africa.

Local gold explorers Echo Resources and Kairos Minerals have raised a combined $22 million from investors to fund ongoing work at their respective projects in Western Australia.

Sheffield Resources has tapped investors for $32 million to fund ongoing development of its Thunderbird mineral sands project in WA.

Africa-focused gold explorer Cardinal Resources has attracted an equity deal through brokerage firm Clarus Securities for a $C12 million ($A12.2 million) investment in the business.

Phosphate explorer Avenira has announced plans to raise up to $15 million from investors, while flagging another ‘significant’ capital raising in the coming year for its Baobab project in Senegal.

Gold explorer Capricorn Metals has released a feasibility study for its Karlawinda gold project near Newman.

A cooperative research centre focused on minerals extraction has teamed up with mining industry groups and training providers to announce plans for an innovation hub based in Kalgoorlie.

Mining giant Rio Tinto has committed $2 million towards the development of a new curriculum in partnership with Tafe WA, which will focus on jobs around automation and future advancements in technology for the mining industry.

Global miner Barrick Gold has announced a deal with the Tanzanian government that involves a 50:50 sharing of benefits from its operations in the country, prompting sharp price movements in local stocks exposed to the region.

Lithium explorer Tawana Resources has attracted a $25 million funding package with one of its offtake partners, as it works towards first production at its Bald Hill project in the Goldfields by early next year.

New BHP Billiton chairman Ken MacKenzie has backed his chief executive's performance and cautioned activist shareholders that the board will ultimately determine the company's direction.

NRW Holdings has announced it has recently won $57 million worth of contracts through its Action Drill & Blast subsidiary, for work on five coal mines on the east coast.

Gold miner Northern Star Resources has posted a comfortable quarterly result, with funds committed to expand production beyond its 2018 output target of 600,000 ounces per annum.

Sheffield Resources has announced plans to spin-out its gold and base metals assets into a separate entity and list it on the ASX, as it progresses development of its flagship Thunderbird mineral sands project.

Aspiring gold miner Gascoyne Resources has tapped NRW Holdings for a $300 million mining services contract at its Dalgaranga project in Western Australia, while NRW's managing director has received a boost to his salary.

South32 shares have dipped after the diversified miner warned it may be facing cost pressures from rising raw material input costs and a weaker US dollar.

David Flanagan-led graphite explorer Battery Minerals has slashed the development cost of its Montepuez project in Mozambique by two-thirds, as the company restructures its plans for the operation.

Sheffield Resources has mandated finance group Taurus to arrange a $US200 million ($A255 million) debt facility for development of its Thunderbird mineral sands project, and also named GR Engineering Services as its preferred contractor.

Newcrest Mining will spend $93 million this quarter to expand its Telfer gold mine in Western Australia, after the state government was last week forced to abandon its planned gold royalty increase.

Mining giant Rio Tinto and two top former executives have been charged with fraud by US market regulators for allegedly inflating the value of an African coal business that cost the company a $2.9 billion write-down.

BHP Billiton has reaffirmed its full-year production guidance for all its commodities despite posting softer quarterly production for iron ore and copper.