Martin Purvis is leaving his post as managing director and chief executive of Troy Resources to take on the same responsibilities at mineral sands miner MZI Resources, following Trevor Matthews’ resignation in November.
Perth entrepreneur Steve Tobin is gearing up for an expansion of oil and gas and minerals exploration in Australia, after selling a majority stake in Terrex Seismic to a private equity group to fund the acquisition of what he believes is a breakthrough technology.
Shares in Pilbara Minerals were up 20 per cent on news the company has inked a major offtake and $US20 million investment agreement it says will pave the way for final funding of development of its Pilgangoora lithium project.
Perth junior Salt Lake Potash has tapped investors for $17.6 million to fund development of a pilot plant at its Goldfields salt lakes project near Laverton.
SPECIAL REPORT: West Perth-based junior Metalicity is developing a plan to take the Admiral Bay zinc deposit in the Canning Basin to production, two years after the project was bought from the collapsed Kagara Mining.
SPECIAL REPORT: The value of investment into WA gold projects is about four times as much as this time last year, while growth in spending on lithium has been even more substantial.
MACA has won a $6 million contract to provide mining services to Northern Minerals’ Browns Range heavy rare earths pilot project, while an additional $4 million bulk earthworks contract is also due to be awarded to the Perth-based company.
The Town of Port Hedland has voted to support BHP Billiton’s ambition to ship out an extra 5 million tonnes of iron ore a year from the port, as the mining giant pushes for a licence to ship 290mtpa by the 2019 financial year.
Premier Mark McGowan has gently chided the mining and energy sector, saying it needs to lift support for local manufacturing, apprentice training and local employment.
Perth explorer Orinoco Gold has announced plans to buy out its joint venture partners at the Cascavel mine for $US6.3 million in cash and shares, while both its managing director and chairman have tendered their resignation.
Mount Gibson Iron will spend nearly $100 million on the redevelopment of its Koolan Island iron ore mine, with the company’s board giving the green light to bring the operation out of care and maintenance.
Aspiring lithium miner Tawana Resources has raised $15 million from investors to fund ongoing development of its Bald Hill project in the Goldfields, a day after signing a $25 million offtake deal for the operation.
Bligh Resources has recommended shareholders vote in favour of an improved takeover offer by Zeta Resources, having previously backed an acquisition proposal by Saracen Mineral Holdings for its Bundarra gold project.
OPINION: A worldwide shake-up of the fertiliser industry may play out in WA, according to the investment bank, which has been watching Wesfarmers’ CSBP division.
Neometals will be relying on third-party interest for the sale of its stake in the Mt Marion lithium mine, after joint venture partners Mineral Resources and Jiangxi Ganfeng Lithium declined pre-emptive rights to buy the stake.
BHP Billiton has cut its full-year copper production guidance and outlined plans to sell some of its US shale acreage, while also announcing record iron ore production and reaffirming plans for its South Flank development in the Pilbara.
Ausdrill-Barminco joint venture African Underground Mining Services has won a $US280 million ($A373 million) contract to provide its services to Newmont Mining’s Subika underground gold operation in Ghana.
Nearly 4,000 shareholders in West Perth company Moly Mines have effectively become stranded in the $63 million cashbox after a stand-off between its board and the ASX ended in a delisting of its stock.
The Chinese company angling to buy a 50 per cent stake in the Kalgoorlie super pit has reportedly dropped the $US1.3 billion bid due to more rigid Chinese controls on capital outflows, while its bid to buy Southern Cross gold mine owner Hanking Australia has been completed.
Mining giant Rio Tinto has made a sluggish start to the year, with first-quarter shipments and production of iron ore affected by bad weather in Western Australia.
The dramatic fall in the price of iron ore since the start of March could punch a $1.4 billion hole in the state’s finances in the next financial year.
Investment group Zeta Resources has announced plans to make an all-cash takeover offer for gold-focused Bligh Resources, competing with Saracen Mineral Holdings which had agreed to buy the target’s core asset in February.
Dacian Gold has formally awarded GR Engineering Services a $107.1 million contract to build processing infrastructure at its Mt Morgans gold project near Laverton.
Lithium Australia is pushing ahead with its takeover plans for Lepidico, extending the deadline by two weeks despite only a small portion of the target’s shareholders taking up the offer so far.
