Mining

Troubled mining services company Boart Longyear is confident demand for its services will pick up eventually, despite posting a $US333million first-half loss during the 2014 calendar year.

The financial incentives for higher cost mid-tier miners to either share infrastructure or merge is at an all-time high, according to accounting firm EY.

GR Engineering Services has recorded a reduction in net profit after tax despite substantially higher revenues during the first half of the financial year.

Quintessential Resources is set to relist on the ASX tomorrow after morphing into technology incubator Yonder and Beyond, but plans by three travel businesses, including George Michalczyk's Motive Travel, to undertake a backdoor listing through Red Gum Resources have fallen through. Click through to also see the BNiQ listing of 26 WA backdoor listings.

Mining and civil engineering contractor Maca has posted a 6.4 per cent increase in profit to $34.7 million for the six months to December, despite revenue taking a hit from recent mine closures, as the company shifted its focus onto gold projects in South America.

The board at Balamara Resources took drastic action last week in light of the dramatic fall in the company’s share price during the past 12 months, with managing director Mike Ralston announcing the intention to de-list from the ASX.

There's a flipside to being undervalued, according to Minotaur Exploration managing director Andrew Woskett, whose business has a $21 million market cap.

A depreciating currency and encouraging demand over the medium term spells good news for the state’s mining juniors, if they can ride out short-term fluctuations.

Standout junior explorers are finding investors for their mining projects, while others are cutting back on exploration and development to counteract a tough corporate finance market and increased government fees.

Macmahon Holdings’ shares have been smashed in early trading, falling by about 40 per cent after it was disclosed late on Friday that it had lost a major contract at Fortescue Metals Group’s Christmas Creek mine.

Engineering group UGL has suffered a first-half loss due to one-off write-downs and provisions as the slowdown in resource sector investment continues to bite.

Gold prices have fallen as a deal between Greece and its creditors took shape, easing worries about the eurozone and driving investors out of the haven metal.

Everything old seems to be new again in the resources sector, with a number of old projects being rebirthed under new management.

Power generation company Pacific Energy has trimmed its full-year earnings guidance after reporting a lower than expected interim profit, but says a contract at the Tropicana gold mine will help it return to growth in 2016.

Perth Mint says a new agreement allowing the Australian Crime Commission access to documents is not related to any investigation.

Perth-based Amcom Telecommunications has posted a 16 per cent slide in half-year profit to $9.3 million on the back of a fall in revenue from its IT services business.

Sixteen years after establishing Asphar Survey Group, and then building it into one of Western Australia’s largest surveying firms, Anthony Asphar is heading back to the jobs market after the demise of his business. Click through to also see the updated BNiQ list of WA's Top 10 surveying firms.

Adelaide-based oil and gas producer Santos has frozen its senior executives' salaries after falling to a $935 million full year net loss.

Oil prices have fallen after the US government reported crude inventories increased again to record highs, adding to concerns about the global supply glut.

Mid-tier nickel miner has posted a strong half-year with a 782 per cent surge in profit to $23.6 million thanks to lower costs, along with productivity and efficiency improvements.

Mineral Resources has highlighted its focus on its services business, including the development of innovative bulk transport solutions, after reporting interim results that were dragged down by its iron ore mining operations.

Following the money is always the best way to see what interests a rich man because it tells you two things – what he likes as an investment for future growth, and what he sees as having reached the limits of growth.

Perth-based minerals explorer ABM Resources has announced plans to tap investors for a $14.2 million capital raising to fund development of the Old Pirate gold deposit in the Northern Territory.

Iluka Resources has announced it will seek about 150 employees and contractors to restart operations at its rutile production plant and Tutunup South mine in Capel.

BHP Billiton and CSIRO have announced they will spend $5 million over five years in a partnership to increase the scientific community’s understanding of the Ningaloo Reef.

Engineering and construction contractor Decmil Group has posted a 4.9 per cent fall in first-half profit to $24.3 million as a result of lower construction margins in the tough market.

Oil prices have fallen before the release of a report on US crude inventories as traders kept an eye on unrest in crude exporter Libya.

Gold has reversed losses after minutes from the Federal Reserve's last meeting show some central bank officials were worried about raising rates too soon.

Iron ore miner and steel company Arrium has slammed the federal government for failing to crack down on the dumping of cheap foreign steel imports.

Sirius Resources managing director Mark Bennett said today the company could be a gold miner before it becomes a nickel producer, following positive drilling results at its Baloo deposit.

Carnegie Wave Energy has switched on its innovative CETO power plant, which will provide renewable electricity to the HMAS Stirling naval base on Garden Island.

Oil and gas explorer Tangiers Petroleum has raised $7 million in a discounted placement to complete its acquisition of the Icewine project in Alaska.