Mining

’Tis the season to be gloomy, that much we know from following financial markets; but an early nominee for the Dr Gloomy prize of the season goes to former ANZ Bank chief economist, Saul Eslake, who said earlier this week that the China-driven mining boom was “the last in human history”.

Australia's largest rail freight operator Aurizon has defended its decision to carry out share buybacks rather than offering a special dividend.

A joint venture that includes Perth-based Macmahon Holdings has won a $US170 million ($A238 million) contract for work at PT Agincourt Resources’ Martabe gold project in Indonesia.

BHP Billiton boss Andrew Mackenzie has described as "heartbreaking" the devastation wreaked by a deadly dam burst at a mine in Brazil and pledged to set up an emergency relief fund.

An optimisation study on Bannerman Resources’ Etango uranium project has found a 9 per cent reduction in pre-production capital costs to $US793 million ($A1.1 billion).

Friction between the resources industry and the mining town of Newman has escalated following the state’s decision to approve an extension for BHP Billiton’s 1,200-bed Kurra camp.

The Australian Petroleum Production & Exploration Association has seized on findings in the recently released International Energy Agency’s world energy outlook that natural gas consumption will increase by almost 50 per cent by 2040.

Perth-based Radar Iron is planning an exit from the resources industry through a reverse takeover of Israeli technology company Weebit-Nano.

Macmahon Holdings has won a contract at Newcrest Mining’s Telfer gold project in the Pilbara, which is expected to bring in $62 million in annual revenue.

Mount Gibson Iron has lifted its sales targets for fiscal 2016, saying it can navigate through uncertain market conditions.

Fortescue Metals Group chairman Andrew Forrest has strongly criticised the strategies of the state’s other major iron ore miners at the company’s annual general meeting today, although the board experienced a close shave on its remuneration report.

Goldfields fuel supplier Eagle Petroleum has started legal action against mining company BNM Australia Group over unpaid debts.

Gold miner Beadell Resources has come under new leadership, with the company appointing former Red Back Mining executive Simon Jackson as managing director and chief executive.

Mining services group Bradken has flagged more cost cutting as the mining downturn drags on for years.

Marine services company MMA Offshore has won a $50 million contract to provide services to Woodside Petroleum, but says low oil prices are placing significant pressure on market demand, with conditions unlikely to improve during the financial year.

NRW Holdings has accepted a payment of $30 million to settle its dispute with Samsung C&T over work on the Roy Hill iron ore project, despite having been awarded $35 million through adjudications under the Construction Contracts Act.

Doray Minerals has finalised a $51 million contract with GR Engineering Services for work at its Deflector gold project in the Murchison region, which is now fully funded and on-track for production by mid-2016.

Local explorer TNG has put plans to form a spin-out company by demerging its base metals portfolio on hold until market conditions improve.

ACA Lawyers has filed a class action against Macmahon Holdings on behalf of the contractor’s shareholders over its alleged delay in revealing information about problems with a major infrastructure project in 2012.

Local explorer Dacian Gold has kicked off a $25 million capital raising to fund ongoing work at its Mt Morgans project near Laverton, where it hopes to start construction in 2017.

Northern Minerals is cutting salaries and reducing its head count to reduce costs as it seeks to complete the next stage of funding for its Browns Range rare earth project near Halls Creek.

Global miner BHP Billiton does not yet know what caused a tailings dam to burst at an iron ore mine in Brazil, killing at least two people and leaving 28 missing.

The resources sector has dramatically increased productivity in the past year, as lower commodity prices drive a wave of cost cutting across the industry, according to the latest national accounts numbers from the Australian Bureau of Statistics.

A program that links PhD students with industry is attracting support from companies as diverse as iron ore miner CITIC Pacific Mining, software developer Lateral, and aged care provider Southern Cross Care.

Evolution Mining appears close to finalising a protracted takeover bid for smaller rival Phoenix Gold, with both companies announcing their boards had reached an agreement after Evolution increased the cash component of its offer.

A Perth technology company seeking to disrupt the mining and energy industries has highlighted how rapid changes in the clean energy sector will also disrupt its own plans to scale up its hydrogen and graphite production.

After nearly 20 years operating in the state’s South West, Schlam Engineering is making a move into the Pilbara.

Former mining services company Viento Group is under new leadership after a board restructure replaced all directors, including John Silverthorne, who in July struck a deal to buy all of the compan

Mining giant Rio Tinto says it will not curtail iron ore production to deal with weak prices and subdued steel demand in China.

BHP Billiton has signed a native title agreement with the Banjima people, calling the century-long deal one of the most significant of its kind in Australia.

Cloud-based asset management tracker Trackem has won the overall prize at Department of Commerce’s WA Innovation of the Year awards today.

Perth company Minemakers has struck a deal with an African investor that will deliver new funding of $28 million for its Baobab phosphate project in Senegal.