Mining

Oil prices have drifted lower, with the market lacking major news for direction as traders continue to worry about abundant global supplies of crude oil.

Two local enterprises have joined forces to leverage off each other’s niche offerings amid a declining resources sector and limited growth opportunities for indigenous businesses.

AN iron ore price bounce of almost 30 per cent from 10-year lows earlier this month will no doubt bring some relief to many in the industry and in the Department of Treasury.

Two local firms are using drone technology to reduce the cost of mine surveying and environmental assessments.

Engineering firm Clough and its recently acquired US subsidiary CH.IV International have been appointed owner's engineer on the planned Magnolia LNG project in the US state of Louisiana.

Nextgen Group has signed a deal to supply Hancock Prospecting’s Roy Hill iron ore project in the Pilbara with a high-speed data connection.

Marine services provider MMA Offshore said it was progressing towards its previously announced $15 million cost savings target, while the company suffers reduced demand and lower fleet utilisation.

WA’s private colleges are finding it tough to bounce back from the once-high $A and perception of the state as an expensive destination.

Road haulage business McAleese Group has flagged a number of impairments and a significant hit to its earnings as it prepares to recommence haulage services at Atlas Iron’s Abydos and Wodgina mines this month.

Gold fell to a six-week low on Friday as the dollar strengthened on US economic data and investor sentiment was undermined by longer-term expectations for a US rate rise.

CBH Group signed an interim access agreement with Brookfield Rail "under protest" late on Friday, allowing CBH to start running its rolling stock on Brookfield's rail network, but the two companies

Former gold explorer International Goldfields has become the fourth Western Australian company to move into the cannabis industry, with the acquisition of Uruguayan business Winter Garden Biosciences.

Troy Resources has announced a $40 million capital raising to fund exploration and development of its Karouni gold project in Guyana.

Macmahon Holdings has received a $19 million settlement almost two years after its shaft sinking project at Glencore’s CSA copper mine in New South Wales was terminated.

Evolution Mining has bought a large stake in a local gold mining company with tenements near La Mancha's mines and processing plant near Kalgoorlie, which Evolution is also buying.

Atlas Iron has announced a surprise reversal of last month's decision to shut down, and will keep two of its three mines operating.

Gold fell two per cent on Thursday after better than forecast US jobs data encouraged investors to sell the traditional safe-haven market, reviving expectations the Federal Reserve could raise interest rates soon.

Oil prices have risen again on data suggesting the US crude glut is easing as the dollar weakened against the euro.

Iluka Resources looks set to snare Irish company Kenmare Resources after proposing a scrip takeover offer valued at $363 million.

The competition watchdog has decided against pursuing Fortescue Metals Group chairman Andrew Forrest over comments he made at a business dinner last month, in which he called on iron ore producers to cap production.

Executives of oil and gas producer Santos have narrowly avoided a first strike by investors protesting against their salaries as its shares and the oil price fall.

Perth-based Swick Mining Services says it made a number of redundancies to minimise costs during the March quarter and plans to make an impairment adjustment at year’s end, despite an increase in demand for underground drilling from its existing clients.

Minerals Corporation, which in 2013 was one of the first Perth-based mining companies to attempt a backdoor listing, has announced plans to exit the resources sector by acquiring an online music competition business.

Sandfire Resources has dropped Federal Court proceedings against the research body at the centre of the Australian National University’s controversial divestment action late last year, following an admission the researchers failed to meet their own standards.

Gold miner Ramelius Resources has signed an agreement to farm-in to Clancy Exploration’s Condobolin project in New South Wales.

Gold has extended its losses after the US Federal Reserve signalled it was taking a meeting-by-meeting approach on when to raise its interest rate for the first time since 2006.

Oil prices have moved higher, buoyed by a weaker US dollar and a slight drop in US crude inventories at the key Cushing terminal, the first in more than four months.

Mines and Petroleum Minister Bill Marmion has hailed Western Australia as a top destination for research and resources development, following the awarding of prestigious scholarships to a number of overseas students.

Oil and gas explorer Odin Energy has struck an agreement to acquire a local cannabis and hemp 'aggregator', making it the third WA-based listed company to explore the cannabis sector in recent months.

Shares in resources developer Mungana Goldmines have shot up 33 per cent today after an off-market takeover proposal backed by private equity group Denham Capital.

Fortescue Metals Group is believed to have made another round of redundancies today, mainly affecting workers at its Cloudbreak mine in the Pilbara.

The company behind the reverse takeover of local cloud-based technology company Norwood Systems has raised $5.5 million in an oversubscribed share offer.