Mining

Balcatta-based drilling services company Imdex has confirmed reports it is seeking to undertake a $35 million capital raising to pay off debt, while also announcing a net loss of $22.5 million for the 2015 financial year.

Perth-based Stonehenge Metals has attracted a new partner for its Daejon joint venture uranium joint project in South Korea.

Iron ore miner Mount Gibson Iron has fallen into the red with a $911.4 million full-year loss after being hit by huge impairment charges.

Woodside Petroleum says its key Browse project must break even at current prices before getting the go ahead next year.

Oil prices have risen modestly as traders looked ahead to weekly US commercial inventory data that could provide insights into demand in the world's largest consumer of crude oil.

Gold has fallen, as the US dollar rebounds following upbeat US housing data that supports views of a looming Federal Reserve interest rate rise, while silver tumbles on the heels of falling copper prices.

Securing Australia’s economic future will require a strong focus on harnessing the nation’s energy resources and further developing the global connections that provide pathways to both imports and exports. This is especially true in Western Australia, where energy is emerging as a sector of key state economic importance.

Marine services business MMA Offshore is predicting a tough year ahead after posting a net loss of $51.3 million for the 2015 financial year, on the back of a $125 million impairment flagged last month.

Monadelphous Group says it will be looking to reduce costs to weather the current market conditions, with the company announcing a 23.6 per cent slide in net profit for the 2015 financial year, to $105.8 million.

Mineral sands miner Iluka Resources has lifted its first-half profit by 74 per cent, to $20.4 million, on the back of a weaker Australian dollar.

Sirius Resources has sold off all of the nickel and copper it plans to produce out of its Nova mine in the first three years, after signing an offtake agreement with Glencore today.

Fortescue Metals Group has played down speculation that it is considering a $2 billion-plus sale of its Chichester hub in the Pilbara.

Naracoota Resources has announced plans to exit mining and enter the tech sphere through the reverse takeover of a health informatics company backed by Perth technology entrepreneur Nathan Buzza, in a deal worth $12.4 million.

Crude oil prices have fallen, deepening a long slide as traders expect US production will remain strong, adding to abundant global supplies.

Gold has firmed, building on its biggest weekly rise in three months, buoyed by weaker-than-expected US data and lingering uncertainty over the implications of China's yuan devaluation.

Pluton Resources has formed a royalty payment plan with the state government and is seeking funding to meet ongoing debt repayments.

Newcrest Mining has returned to profit and decided to retain its Telfer gold mine in Western Australia, one of its main assets.

Rail operator Aurizon has cut the capex estimate of its West Pilbara iron ore project by 25 per cent to $4.5 billion, while also announcing a 15 per cent rise in underlying net profit to $604 million for the 2015 financial year.

A new iron ore mine proposed by BHP Billiton, and revisions to conditions placed on Rio Tinto’s Marandoo iron ore project near Tom Price, have been recommended for approval by the environmental watchdog.

Santos has hosed down speculation that it was about to launch an equity raising.

Monadelphous Group and Tempo Australia have won more work on the Chevron-operated Gorgon gas project on Barrow Island.

Gold has turned slightly lower as the US dollar shifts higher on encouraging US data and as investors weigh the impact of China's currency intervention on the timing for the first US interest rate increase in nearly a decade.

Mining giant BHP Billiton has contributed about half a million dollars towards the construction of a walk trail on Rottnest Island, making it the largest contribution to the island by a corporate entity.

Clive Palmer's private company has suffered a resounding loss in legal battle with China’s CITIC Pacific, with a court judgement describing Mineralogy’s claims as astonishing, farcical and without substance.

Atlas Iron has posted a $1.4 billion annual loss due to massive falls in the price of iron ore.

Gold fell 1 per cent on Thursday, snapping five sessions of gains, on the back of upbeat US data and concerns eased over further losses in the yuan after the devaluation of the currency by China.

Oil prices have skidded to a fresh six-year low amid worries about excess supply.

Perth-based precious metals companies Black Mountain Resources and Torian Resources both announced capital raisings today.

Investors have welcomed the results of a pre-feasibility study on Carbine Resources’ Mount Morgan gold and copper project, conducted by GR Engineering Services, which found it to be a potentially low-cost and viable operation.

Perth-based gold miner Renaissance Minerals has announced a revised royalty deal with OZ Minerals that will remove the requirement for Renaissance to pay $22.5 million in milestone payments associated with its Cambodian gold project.

A planned backdoor listing by technology company Yatango, which was backed by top-shelf advisers and boasted iiNet founder Michael Malone as one of its directors, has fallen through after being hit by tough market conditions and a run-in with the corporate regulator.

Local explorer NSL Consolidated has tapped one of its foreign investors for a $5 million loan to fund construction of its phase two Kurnool iron ore wet plant in India.