Perth-based explorer Lindian Resources has announced plans to acquire a majority stake in a bauxite mine in Tanzania in a deal worth nearly $2 million, despite recently introduced legislation mandating increased government ownership of local projects and higher royalties on some minerals.
Saracen Mineral Holdings has flagged a $71 million investment in its Thunderbox operation near Leinster to develop an underground mine, after achieving record total ore reserves.
Fortescue Metals Group claimed today that a new power station built by Canadian company TransAlta Corporation at South Hedland had failed to achieve commercial production, while the miner also announced it would buy back a second power station it sold to TransAlta in 2012.
Junior miner Millennium Minerals could spend up to $46 million upgrading the processing infrastructure at its Nullagine gold operation to achieve a higher quality of output.
Geopacific Resources has acquired a majority stake in Kula Gold after the takeover target’s largest shareholder accepted Geopacific’s recently increased offer.
Six months after shutting down specialist oil and gas advisory firm Miro Advisers, Tim Woodall has joined the board of Melbourne-based explorer and producer FAR as a non-executive director.
Three local resources companies have announced successful raisings worth a total of $12 million today, with uranium hopeful Vimy Resources, gold focused Explaurum and gold explorer Catalyst Metals all raising capital.
West Perth-based miner Sandfire Resources has further lifted its interest in the Black Butte copper project in the US, taking its total share of project vehicle Tintina Resources to 78.1 per cent.
Saracen Mineral Holdings has named private company Byrnecut as its preferred contractor for a contract, valued at $440 million, for underground mining services at its Carosue Dam gold operation north of Kalgoorlie.
Fortescue Metals Group chief executive Nev Power says the value of minerals would be excluded from its looming compensation battle against the Yindjibarndi people, but that claim has been disputed by the native title group's legal team.
Marindi Metals has conceded defeat in its Supreme Court fight against Kidman Resources over rights to the Mt Holland lithium operation, and has accepted a small settlement payout from Rox Resources over a separate matter.
Chinese demand for Australian natural resources could be on a longer-term path of slow growth, although a major international development project could bring some benefits.
Fortescue Metals Group expects to trim its costs further this year and is targeting steady iron ore shipments in the 2018 financial year after posting a solid fourth quarter performance.
Oil and gas producer Santos has recruited former Nido Petroleum and BHP Petroleum executive Philip Byrne, who will take over from retiring executive vice-president John Anderson.
Perth businesswoman Bronwyn Barnes has joined minerals explorer Black Mountain Resources as its interim chief executive, following the departure of Julian Ford earlier this month.
Eastern Goldfields has poured first gold at its Davyhurst operation near Kalgoorlie, amid a looming court battle against the project’s refurbishment contractor, GR Engineering Services.
Pilbara Minerals has signed-off four major contracts for its Pilgangoora lithium project, with RCR Tomlinson, NRW Holdings, Action Industrial Catering and the Njamal traditional owners winning the lion’s share of the work.
Graphex Mining has tapped investors for $2.6 million as it moves ahead with development of its Chilalo graphite project in Tanzania, amid legislative changes to how the country’s government receives mining royalties.
The administrators of Paladin Energy have entered into an agreement with Deutsche Bank to refinance some of the troubled uranium miner’s debt and fund ongoing work at the Langer Heinrich mine in Namibia.
Newcrest Mining has posted a 2.4 per cent drop in full-year gold production driven by lower output at its Cadia mine in NSW, which was shut after an earthquake in April.
Paladin Energy says it is entitled to receive about $US416 million for its majority stake in the Langer Heinrich uranium mine in Namibia, following an independent evaluation of the asset.
New Century Resources has enjoyed fruitful gains on its first day of trading on the ASX after completing a reverse takeover of Perth-based Attila Resources.
Fortescue Metals Group is likely to lodge an appeal after the Federal Court recognised the Yindjibarndi people have exclusive rights over Pilbara land where the company operates the Solomon iron ore operation.
Yindjibarndi Aboriginal Corporation will seek compensation from Fortescue Metals Group after the Federal Court recognised it has exclusive rights over Pilbara land where the company operates the Solomon hub.
Shares in South 32 have fallen after the diversified miner's annual production of several commodities, including coal, dropped and the company missed its full-year production guidance on some of them.
