Mining

Two Rio Tinto iron ore project expansions worth a total of $367 million have been approved by the state government, extending the life of the operations and helping the company maintain its production levels in the medium term.

The state government-controlled Perth Mint has thwarted a security breach by one of its contractors.

Local miner Doray Minerals has achieved first gold pour at its Deflector mine in the Murchison region, with its first shipment to be made next month.

Does BHP Billiton really want to expand its loss-making Nickel West division, or is it engaging in a strange game of promoting an expansion plan of the Western Australian business in order to restart the sales process that collapsed last year?

Engineering and infrastructure group RCR Tomlinson has won two major packages of work, including a $35 million contract on Rio Tinto’s Cape Lambert power station.

Fortescue Metals Group has broken BHP Billiton’s monopoly on tug services at Port Hedland, after being named the successful bidder for a second towage licence at what is the world’s biggest bulk export port.

Miner and metals producer Alumina has fended off allegations it is trying to obstruct the global demerger of US aluminium giant Alcoa, and says it will defend its rights in US court proceedings.

Nickel miner Panoramic Resources has made a further 70 job cuts at its Savannah mine in the Kimberley, with the remaining workforce at the site to be made redundant in the coming months.

Perth miner Galaxy Resources has announced plans to merge with joint venture partner General Mining Corporation to create a larger lithium-focused company, in a deal worth $216 million.

Mining group South32 has made about 270 roles redundant across its Australian and South African offices, on top of more than 1,000 job cuts earlier this year.

German company K+S Group is planning to evaluate development of a $350 million salt project south-west of Onslow, six years after another salt project in the area was scrapped after facing widespread opposition.

Programmed Maintenance Services has returned an annual net loss as a result of lower demand for marine services following the steep drop in oil and gas prices.

Rio Tinto executive Greg Lilleyman is leaving the company after 25 years, and will be replaced as group executive technology and innovation by the miner’s current head of exploration.

With a strong focus on cutting costs in mining, many WA small businesses are developing ways to dig up resources smarter and cheaper.

Junior miners Azure Minerals, Cazaly Resources, Antipa Minerals and First Graphite have raised a combined $25.1 million to fund ongoing work at their respective projects.

Mining services business Ausdrill has sold one of its subsidiaries to a Finnish manufacturer for $66 million.

Local gold explorer Echo Resources has received firm commitments for a $3.23 million capital raising to fund ongoing work at its Julius project in the Goldfields.

BC Iron managing director Morgan Ball is stepping down from the junior iron ore company, to be replaced by one of Kerry Stokes top executives.

Loss-making engineering services company Ausgroup has breached a key financial covenant after its total equity fell below $160 million.

The return of gold mining as Western Australia’s fastest-growing industry is becoming more interesting, with a near-record price for the metal in Australian dollars triggering increased exploration and a pair of possible mine developments in the Wheatbelt.

Employment prospects for geoscientists in Australia have hit fresh lows, with new figures revealing nearly one in five is out of work.

Local gold miner Doray Minerals is seeking to expand its exploration portfolio through a $10 million joint venture deal with Rox Resources.

In the first of a series of interviews with top WA business figures for Business News, Leadership WA chief executive officer Robin McClellan spent 10 minutes with Rio Tinto chief executive, iron ore, Andrew Harding, who said he looked to hire smart, reflective and curious people, and revealed mindfulness meditation had helped him be a better leader.

Subiaco-based Lithex Resources will make a second attempt at a backdoor listing, announcing plans to acquire an Israel-based battery technology company in a deal worth $28.7 million.

Shares in North Fremantle-based Kingston Resources have surged on news the company plans to raise $6.8 million to fund the purchase and exploration of several lithium tenements in Western Australia and the Northern Territory.

Gold has fallen as a strengthening US dollar prompted some buyers to cash in gains after its biggest daily rise this month, briefly paring losses after downbeat US jobs data.

The state budget assumes iron ore prices will average about $US47.70 a tonne in the coming financial year, substantially higher that what most forecasters have been tipping, and also includes a $41 million royalty concession for magnetite producers.

Junior gold miners Dynasty Resources and Orinoco Gold have announced plans to raise a combined $2.6 million to fund ongoing work at their respective projects.

Subiaco-based Paynes Find Gold is seeking to become a lithium miner through the reverse takeover and backdoor listing of a European mining company backed by local businessman Tony Sage.

BHP Billiton boss Andrew Mackenzie is confident that the resources behemoth can boost its value by more than 70 per cent, even without a significant recovery in commodity prices.

Local explorer IMX Resources is back on track to spin-off its graphite portfolio into a new ASX-listed entity, after addressing concerns raised by the corporate watchdog.

Local gold companies Azumah Resources and KIN Mining have released updates on their respective projects, with Azumah slashing the capital cost of its Wa gold project in Ghana by $US54 million ($A73 million).