Mining

Special Report: Falling commodity prices have led some mining contractors to circle the wagons, but others are cautiously targeting opportunities.

Newcrest Mining's first-half profit has fallen 55 per cent due to lower gold and copper prices and a shutdown at a major mine.

It’s likely more nickel operations will need to be closed before there’s any improvement in prices for the steel-making commodity.

Potash explorer Elemental Minerals has received a $123.1 million cash takeover offer from a Hong Kong investment group, but the company was quick to list a number of reasons why the proposal wouldn’t succeed.

WorleyParsons has denied a media report that it is considering an equity raising to offset rising debt levels.

Mining giant Rio Tinto has reported an $US866 million ($A1.2 billion) annual loss, and has responded by cutting its future dividends, operating costs and capital spending, though the long-planned Silvergrass mine in the Pilbara is shaping up as one of the company's few big projects to proceed.

Highly indebted mining companies with limited cash flow need to make brave decisions as they face a protracted period of low commodities prices, Deloitte says.

Gold Road Resources has appointed GR Engineering Services to undertake a lead engineering role in a feasibility study for its Gruyere gold project near Laverton.

The state government has officially commissioned the $140 million Eastern Goldfields Pipeline, which will support the ongoing development of mining projects in the region and benefit operators of existing mines due to reduced costs

Shares in Perth-based gold and nickel explorer Nickelore doubled in price today after the company announced it would acquire a Brazilian renewable energy provider.

Iron ore miner Roy Hill has officially taken control of its mine, rail and port operations in the Pilbara from lead construction contractor Samsung C&T, with the company now commencing ramp-up of production to target the nameplate 55 million tonnes per annum capacity.

Construction and contract mining firm CIMIC Group is set for a solid 2016 after lifting its underlying annual profit by 20 per cent.

A custom mouthguards maker that boasts AFL coach John Worsfold as a director has announced plans to list on the ASX through the reverse takeover of Perth-based explorer Mount Magnet South.

Mincor Resources has reported a half-year net loss of $34.7 million while fellow nickel miner Panoramic Resources has cut its directors’ fees and board size to further slash costs.

Murchison-focused gold miner Ramelius Resources expects to report a boost in net profit to $28.7 million for the six months to December, on the back of increased sales.

Perth-based explorer Image Resources has entered into an agreement for the purchase of a wet concentration plant, and an offtake deal for product from its Boonanarring mineral sands project near Gingin, with a Chinese zircon company to emerge as a major shareholder.

A Newcrest Mining worker is believed to be trapped nearly 300 metres underground at the company’s Gosowong gold mine in Indonesia, after a ‘geotechnical event’ triggered a rock fall.

A pre-feasibility study has confirmed the viability of Gold Road Resources’ Gruyere gold project near Laverton, with the study predicting a $455 million cost to bring it into production.

Perth-based gold explorer Tanga Resources has launched a $3.5 million capital raising for its Singida project in Tanzania.

Mining giant BHP Billiton can defend its credit rating by scrapping its controversial progressive dividend policy, ratings agency Standard and Poor's says.

Local explorer Northern Minerals plans to build a test pilot plant at its Browns Range project near Halls Creek at a cost of about $US18 million ($A25 million), rather than proceeding with full-scale development in light of the depressed rare earths market.

Engineering and contracting group Downer EDI has trimmed its full-year profit guidance after posting a nearly 24 per cent drop in first-half profit, with one of the few positives being increased work on oil and gas projects in Western Australia.

Soon-to-be renamed Malagasy Minerals has welcomed Regis Resources as a substantial shareholder as the company completes its acquisition of the Karlawinda gold project near Newman, while also announcing the appointment of local gold mining executives to its board.

Programmed Maintenance Services has flagged a $75 million impairment resulting from poor performance in its marine services division, but expects to lift earnings to over $100 million by FY17 as it benefits from growth in other sectors of the economy.

BHP Billiton spin-off South32 will slash 620 jobs in Africa and has warned of widespread job losses in Australia after revising down its commodity price forecasts.

Deals and capital raisings in the mining and metals sector fell in 2015, according to EY, although asset sales from distressed parties coming onto the market could lead to an uptick in volumes in the year ahead.

Neometals shares have closed more than 9 per cent higher on news its Mt Marion joint venture partner Jiangxi Ganfeng has exercised its option to acquire an additional 18 per cent in the lithium project for $US27 million.

The long-running saga of the Windimurra vanadium project has taken a new turn, with listed company Atlantic pitching a low-ball offer to buy the $560 million development from one of its own subsidiaries.

Colleagues have paid tribute to Troy Resources chairman and Aquarius Platinum director David Dix, who passed away overnight.

Mining contractor Byrnecut has won a contract to expand OZ Minerals’ Prominent Hill copper-gold project in South Australia, with the work expected to cost about $12 million.

Former oil and gas explorer Emerald Resources has confirmed plans to transition to the gold sector, announcing today a joint venture deal to earn-in to Renaissance Minerals’ Cambodian gold project.

Despite some green shoots, 2016 isn’t expected to provide miners with much good news after a tough 2015.