Mining

Mining giant Rio Tinto has been hit with an additional tax bill of $447 million over a dispute on transfer pricing of commodities to its Singapore marketing hub.

The top Western Australian company in this year's Energise accelerator program is developing an ambitious plan for robotic on-site manufacturing of equipment it believes will boost safety and dramatically cut costs at open pit mines.

Bronwyn Barnes has been appointed the new chair of West Perth-based Indiana Resources, on the same day the company went to the Takeovers Panel to fight attempts by a group of shareholders to oust existing directors.

Ian Middlemas-chaired coal explorer Paringa Resources has secured a $US20 million ($A26 million) facility to fund ongoing development of its Poplar Grove project in the US.

Perth-based Geopacific Resources has put forward a takeover bid for its joint venture partner, gold-focused Kula Gold, in an all-scrip deal that values the target at about $9.3 million.

Aspiring mineral sands miner Sheffield Resources has entered into offtake agreements for 20 per cent of zircon produced from its planned $348 million Thunderbird project near Derby.

Gold miner St Barbara has taken a 9.5 per cent stake in junior explorer Peel Mining for $3.3 million, with the funds to be put towards development of Peel's copper-gold deposits in NSW.

A suite of contract announcements has been made for Gold Road Resources' $507 million Gruyere project, including for GR Engineering Services, Maca and Civmec, while Macmahon Holdings said today it had been selected as preferred contractor for a new Queensland coal mine.

Shares in gold producer Blackham Resources fell by 21 per cent today after the company revealed a raft of problems at its Matilda project, where operations have been affected by heavy rain and lowe

Paladin Energy's planned $US10 million sale of a 30 per cent stake in the Manyingee uranium project to Avira Energy has been thwarted, with Avira unable to secure financing in time.

Draig Resources has a new management team that includes former Gryphon Minerals managing director Stephen Parsons, who will focus on the company's recently acquired Bellevue gold project west of Laverton.

Junior explorer Dragon Mining has announced plans to delist from the ASX as it progresses its listing on the Hong Kong Stock Exchange, while also revealing a $17.5 million capital raising.

Gold explorer GBM Resources has been forced to terminate merger plans with Canadian company WCB Resources after a loan agreement with a funding party fell through.

Mines and Petroleum Minister Bill Johnston says the McGowan government will keep a close check on usage of the industry's mine rehabilitation fund to ensure unscrupulous operators don't shift costs onto honest players, while also confirming the existing state exploration incentive scheme will continue operation.

Nickel miner Western Areas will progress plans to develop a new deposit at its mothballed Cosmos project, after today revealing a $210 million capex to bring the mine into production.

Perth businessman David Flanagan has taken on a larger role at aspiring graphite miner Battery Minerals, that of executive chairman, as part of a management restructure ahead of the company's planned transition to the production phase.

Water is being pumped out of a disused iron ore mine on a Western Australian island after pit walls slumped, sparking fears it could collapse and contaminate the ocean on the other side.

Investment plans for BHP Billiton's South Flank project can proceed with greater certainty following the defeat of the Nationals WA's proposed iron ore levy hike at the ballot box earlier this month, according to the company's asset president of WA iron ore, Edgar Basto.

Pilbara Minerals has signed a farm-in deal with Atlas Iron over its Mt Francisco lithium project, and the two companies have also struck a preliminary agreement allowing Pilbara to use Atlas Iron's existing infrastructure to support early shipments from the Pilgangoora project.

Potash explorer Agrimin has announced plans to raise up to $13.2 million from investors to fund ongoing work at its Mackay project in Western Australia.

Lepidico has formally rejected rival Lithium Australia's $23.8 million takeover bid, after an independent expert labelled the offer as neither fair nor reasonable.

Gold miner St Barbara has approved a major extension of its Gwalia operations, which will extend the historic mine to a depth of 2,000 metres below surface over the next seven years.

Perth-based Spitfire Materials is seeking to grow its gold exploration portfolio through the acquisition of a private company led by Pilbara Minerals directors Neil Biddle and John Young, in a scrip deal worth $4.7 million.

Perth-based miner South32 is launching a $US500 million ($A655 million) on-market share buyback as the BHP Billiton spin-off continues to benefit from the recovery in commodity prices.

Exploration spending among ASX-listed resources juniors increased about 13 per cent in the December quarter, the third consecutive uptick, according to recent research by professional services firm BDO.

Sheffield Resources has moved to the next stage of progressing its Thunderbird mineral sands project near Derby, after releasing a bankable feasibility study which revealed a development capex of $348 million.

Uranium miner Paladin Energy says it has started arbitration proceedings against its Chinese joint venture partner over complications with its plans to sell a stake in its Langer Heinrich mine.

Todd Corporation-controlled BBI Group has signed an agreement with a Chinese firm for construction of the $6 billion Balla Balla iron ore project in the Pilbara.

Shares in infrastructure and mining services company Downer have fallen more than 20 per cent after institutional investors showed limited enthusiasm for a capital raising to help fund its $1.26 billion takeover of cleaning and catering firm Spotless Group.

Iron ore miner Fortescue Metals Group is taking further advantage of stronger iron ore prices by paying off another large chunk of its debt.

The appointment of Sam Walsh as a director of Mitsui & Company this week has brought attention to the usually low-profile Japanese multinational, which according to BNiQ Search Engine data has been a major investor in Western Australia's resources industry and is one of the state's largest exporters.

Perth-based explorer Alara Resources has signed an offtake agreement for copper from its Al Hadeetha project in Oman, with the deal including a $US6 million ($A7.8 million) pre-payment.