Mining

BC Iron is close to completing its acquisition of Iron ore Holdings, which was part-owned by media magnate Kerry Stokes.

Perth-based contractor and surveyor OTOC has obtained approval for an $8.1 million debt facility from the Commonwealth Bank of Australia, on top of an $8.2 million facility it was awarded from the CBA last year.

Glencore International has abandoned its bid to merge with Rio Tinto, a day after it was first made public.

Oil prices have sunk amid concerns about slowing economic growth, with WTI dropping to a 17-month low on expectations of a rise in US crude-oil supplies.

Stavely Minerals has secured a $2 million share subscription agreement with its contracted drilling services company, Titeline Drilling, under which Stavely can partly pay its monthly drilling bill in lieu of Titeline’s share subscription payment.

Ironbark Zinc says it has lodged a formal application for a 30-year mining licence with the Greenland government for its Citronen base metal project.

Federal Labor is considering doing a deal with the government to exclude the aluminium industry from the renewable energy target.

Minbos Resources will issue more than 203.3 million new ordinary shares and 93.3 million new unlisted options to investors as part of its conversion of outstanding convertible notes and securities.

Fox Resources has announced plans to sell its Bundaberg coking coal project in Queensland, while shifting focus on developing its Western Australian projects.

Newcrest says it is on track to hit its gold production targets for a second consecutive year.

Glencore's hopes of striking a deal to become the world's largest miner remain just that, after an approach was rebuffed by Rio Tinto.

Crude oil prices have closed higher, staging a small rebound from last week's steep losses as a slightly weakening US dollar offered some support.

Ausdrill subsidiary Energy Drilling Australia has secured a contract extension of undisclosed value with Strike Energy for a three-month drill campaign in the Cooper Basin.

A University of Western Australia doctoral student has found major banks were exploiting price sensitive information through the London Gold Fix and has predicted the demise of the system before the end of the year.

Transport Minister Dean Nalder has announced that Fremantle Ports will go to market for the leasing of its container terminals on North Quay for undisclosed sums.

Removal of the carbon tax has dampened inflation, allowing the Reserve Bank of Australia to remain in wait-and-see mode on interest rates.

Tech firms Today We Learned, Circadyn and Freewheeler have been named the RAC of WA SeedSpark winners at an awards night last week, and have each received a cash prize to fund their projects.

Private operator White Rivers Exploration, majority owned by Mark Creasy, has joined Harmony Gold Mining Company in an exploration and development joint venture for its Beisa project in South Africa.

Mining giant BHP Billiton plans to overtake rival Rio Tinto to become Australia's lowest cost iron ore producer, detailing plans today for an expansion of its Pilbara operations despite the slump in the commodity's price.

Geraldton-based Bhagwan Marine has announced details of its first international acquisition, confirming speculation from last week.

Gold prices fell to a four-year low on Friday after stronger-than-expected US employment data intensified investors' concerns about how soon the Federal Reserve would raise interest rates.

Perth-based Resource Development Group has completed its acquisition of Central Systems today, as the new group looks towards growth and diversification.

Price cuts by key exporter Saudi Arabia have helped send global crude prices to their lowest point in more than two years before they recovered in late trade.

Final steps are underway for Perth-based global marketing venture Mpire Media’s reverse takeover of Lithex Resources, with the junior explorer appointing Shaw Stockbroking as lead manager to its $10 million capital raising.

Shares in Perth-based White Cliff Minerals have slumped on news it had signed a $US4 million funding agreement with New York-based investment firm Magna Equities to accelerate exploration at its Australian and Kyrgyz projects over the next two years.

Shares in Poseidon Nickel surged by over 10 per cent after it announced an offtake agreement with BHP Billiton Nickel West.

Perth-based Altona Mining announced the completion of its $US95 million Finnish assets sale to Swedish miner Boliden Mineral AB and has received $US89.2 million in cash as the first tranche of payment.

Oil prices have extended the prior day's steep losses despite an unexpected drop in US crude stockpiles, amid persistent worries about ample supplies.

West African-focused gold explorer Predictive Discovery plans to raise up to $1.85 million for further exploration, through a placement and a rights issue backed by its biggest shareholder.

The Department of Mines and Petroleum says it will return millions of dollars in unconditional performance bonds associated with dead tenements to mining companies and individuals through its rehabilitation fund program.

World oil prices have slumped, with the main US contract falling 3.6 per cent due to worries about a supply glut and the strengthening dollar.

Cassini Resources, the five cent explorer that quickly graduated to a 25 cent stock in April after acquiring BHP Billiton’s West Musgrave nickel-copper project has taken a share price hit in its stride as it seeks to educate the market on its as yet unrealised potential.