Mining

Perth-based Rox Resources accepted a revised offer from Marindi Metals for its stake in the Reward zinc-lead project in the Northern Territory, with the new cash-and-scrip deal worth $21 million.

Miner BHP Billiton has posted a loss of $US6.4 billion for the 2016 financial year following its $7.2 billion impairment of US shale assets in January, a slightly better result than had been anticipated by the market.

Engineering group RCR Tomlinson has won a $120 million contract to build processing infrastructure at Rio Tinto's Silvergrass iron ore mine in the Pilbara.

Regis Resources chairman Mark Clark has sold half of his stake in the Perth-based gold miner, pocketing just under $10.5 million.

Litigation funder IMF Bentham has announced it will fund a shareholder class action against former directors of collapsed miner Kagara, which went into administration in 2012.

Subiaco-based Perseus Mining has awarded engineering company Lycopodium a $38.4 million contract to carry out work at its Sissingue gold project in Cote D'Ivoire, Africa.

Newcrest Mining will pay a dividend for the first time in three and a half years despite a 12 per cent drop in full-year profit.

A new uranium mine in the eastern Goldfields region has been recommended for approval, with a number of strict conditions imposed by the Environmental Protection Authority.

Former federal Liberal MP Sophie Mirabella has found a new career after last month's second consecutive election defeat - working in mining with Gina Rinehart.

Local explorers Danakali and Duketon Mining have raised a combined $11.6 million to fund ongoing work at their respective developments.

The decline in mining investment is set to end by mid-2017 following four years of decline, according to banking giant HSBC.

Perth-based Ausdrill has won a $157 million contract to provide mining services to Perseus Mining's Edikan gold mine in Ghana.

Local minerals explorer Kasbah Resources has received a takeover offer from a Vietnam-focused nickel miner, which values the target at about $21.1 million.

USA-focused gold explorer Anova Metals has raised $9 million from investors to progress development of its Big Springs project in Nevada, USA.

Scarborough-based West African Resources has tapped investors for a $21 million capital raising to pay off debt and fund ongoing development of its Tanlouka gold project.

Heron Resources is the latest company to announce plans to spin-out its non-core assets into a new company, following similar recent movements by Metals X, TNG and Indiana Resources.

Rio Tinto and BHP Billiton have labelled the reinstalled WA Nationals leader's plan to slug them with higher taxes "ill-conceived" and "damaging".

Rox Resources has received a competing offer for its stake in the Reward zinc project in the Northern Territory, with Marindi Metals saying its offer will expire at 5pm today if it is not accepted.

Brendon Grylls has snatched back leadership of the WA Nationals and will press the Barnett government to support his plan to slug BHP Billiton and Rio Tinto with a $5 per tonne mining tax.

A move flagged by National Party leadership challenger Brendon Grylls to effectively double the rate of the royalty paid by the state's two biggest iron ore miners would make Western Australia one of the most punitive jurisdictions for taxes on production of the commodity.

Legend Mining has sold its stake in gold and nickel miner Independence Group for $4 million, with the local explorer netting about $2.5 million profit from the sale.

Local innovators and resources industry professionals, including Karara Mining, Barminco and Fortescue Metals Group, were recognised at two separate awards ceremonies held this week.

Craig Munro-chaired Gulf Manganese Corporation has received a $US10 million ($A13 million) equity commitment from an Indonesian investor to progress development of its Kupang smelting hub in West Timor.

Shares in mining equipment supplier Emeco Holdings were up 50 per cent today after the company revealed an earnings uplift despite continued tough conditions.

Diversified miner Metals X has confirmed a $115.6 million capital raising and plans to demerge its gold assets into a new company, which will be led by existing chief executive Peter Cook.

The employment market for geoscientists improved in the three months to June, in a sign that the resources industry might have reached the bottom in this cycle, although more than a third are still getting less than their desired amount of work.

Local explorer Primary Gold has purchased a gold mine from Adelaide-based MacPhersons for $10 million in cash and shares.

Local engineering company Lycopodium has won a $68.5 million contract to build processing facilities at a gold mine in Senegal.

The environmental watchdog has recommended rejection of a new uranium mine in the Goldfields after the proposal failed to meet one of nine strict factors.

Rio Tinto says it will spend $US338 million developing its Silvergrass iron ore mine in the Pilbara, on the same day it disclosed a slump in underlying earnings and dividend payments.

Kerry Stokes' diversified media, mining equipment and energy group, Seven Group Holdings, has swung to an annual profit and is cautiously confident that trading conditions will stabilise this year.

Rare earths hopeful Northern Minerals has attracted another Chinese investment group for a $30 million equity injection into its Browns Range project.