Fortescue Metals Group has ended a tough week for the iron ore sector by halving its projected capital expenditure for the 2015 financial year to $US650 million, in response to the continued weakening of the iron ore price.
Rio Tinto has deferred making an investment decision on its proposed billion-dollar new iron ore mine in West Australia's Pilbara region but is sticking with plans to ramp up production of the commodity.
Gold has fallen to the lowest level in a week as assets in the largest exchange-traded product backed by the metal shrank to the smallest in more than six years. Silver, platinum and palladium also decreased.
Sirius Resources has named the preferred contractors for various works at its $473 million Nova nickel project near Norseman, however contract values have not been disclosed as final terms are yet to be completed.
The Woodside Petroleum-led North West Shelf venture has agreed to proceed with its $1.2 billion Persephone gas project off the Western Australian coast.
Gold prices are virtually unchanged in quiet, pre-holiday trade as investors find little direction in lacklustre US economic data and a flat stock market.
Oil and gas producer Neon Energy has said the result of its recent shareholder meeting gives it a mandate to pursue a merger with Melbourne-based MEO, despite receiving renewed notice that key shareholder Evoworld Corporation will call a meeting to remove directors.
The Woodside-led North West Shelf joint venture has struck a new supply agreement that will deliver a small increase in the amount of gas coming into the local market but there is still no word on the future of contracts that account for more than half the state’s domestic supply.
Nickel miner Western Areas says it has awarded an offtake agreement to Jinchuan Group, building on a five-year relationship with the Chinese nickel producer.
Shares in Perth-based junior Lucapa Diamond Company have surged on news it has signed a 35-year licence to mine alluvial diamonds at the Lulo diamond concession in Angola.
Mining giant Woodside Petroleum will expand its presence off the Moroccan coast after entering into a contract with the country's national oil company for a licence to explore another block of the Doukkala basin.
Oil prices have tumbled, with the US benchmark down 2.2 per cent, on expectations that the OPEC cartel will not agree to cut output despite ample global supplies.
Gold prices have edged higher, after a day of shuffling between gains and losses as two sets of economic data gave varying pictures of the state of US recovery.
NRW Holdings chairman Ian Burston has told shareholders the contractor will not be "jerked around by anybody" after revealing it is in a dispute over its largest project at Roy Hill.
MZI Resources has signed a deal to sell most of the high value titanium dioxide production from its Keysbrook mineral sands project to US-based DuPont Titanium Technologies, and is still looking for a buyer for the balance.
A new report from BIS Shrapnel has forecast a surge in mining production over the next four years as the mining industry’s focus shifts away from the investment and construction phase of the boom.
A downturn in mining activity has contributed to a 40 per cent fall in half year profit for laboratory services company ALS, but it expects earnings to grow in the current quarter.
