Mining

Africa-focused lithium explorer AVZ Minerals has attracted a Chinese miner for the bulk of a $15 million capital raising, which has been priced to take advantage of a recent doubling in its share price.

CBH Group has announced a surprise selection as its new chief executive, recruiting former BHP iron ore boss Jimmy Wilson to succeed Andrew Crane.

Fortescue Metals Group is likely to join mining giant Rio Tinto in raising dividends as the price of iron ore remains elevated.

Northern Star Resources boss Bill Beament has called on the state government to commit $100 million towards the development of a mining education hub in Kalgoorlie through Curtin University’s WA School of Mines (WASM).

ANALYSIS: Two local lithium players will be hoping their early move into the sector justifies the hefty interest rates on their loans.

Northbridge-based Matsa Resources has locked in a $4 million loan facility agreement to fund ongoing exploration work at its Lake Carey gold project near Laverton.

Northern Minerals has received backing from the federal government for an $8.1 million Aboriginal training-to-work program at its Browns Range project in the Kimberley.

The push for increased local content on big projects appears to be paying dividends, with Rio Tinto announcing a $70 million order for port equipment and local businesses Civmec and Doina Construction and Engineering undertaking work for coal and gold projects.

A new gold exploration company led by former Doray Minerals boss Allan Kelly and backed by Evolution Mining has announced plans to list on the ASX, whilst two other junior miners have joined the bourse after completing backdoor listings.

Peter Stokes has tendered his resignation as chief executive of Barminco, with the mining contractor to begin searching for his successor.

Local explorer De Grey Mining has progressed plans to develop its Pilbara gold project with the release of a scoping study today, which revealed a development cost of $96 million.

Red 5 has struck agreements to buy Gold Fields' Darlot mine and Saracen Mineral Holdings' King of the Hills mine for a combined $34 million in cash and shares.

The Supreme Court has ordered privately owned mining company Global Advanced Metals to open its books to a minority shareholder, despite the shareholder being a competitor, a litigation adversary in the US, and having a chief executive who was found to have carelessly handled confidential information supplied earlier this year.

UPDATED: Eastern Goldfields is expected to be confronted at next week’s Diggers and Dealers conference by local contractors who claim they have not been paid by the Perth gold miner.

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.

Rio Tinto has almost doubled its half-year net profit to $US3.3 billion due to higher iron ore and coal prices.

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.

The value of a strong team in a crisis was highlighted by mining chief David Flanagan during his recent discussion with Business News.

A Perth-based investment group has lined up about $17 million to farm-in on Azumah Resources’ Wa gold project in Ghana.

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.