Andrew Forrest has emerged as a surprise backer of Energy and Minerals Australia, taking a major stake in the Perth-based uranium explorer through a much-needed $12 million investment. EMA has also struck a debt-for-equity swap with its noteholders.
Continued growth of the Pilbara as an export-focused iron ore province received a huge boost today when Chinese steel giant Baosteel and Australian railway operator Aurizon teamed up to bid for the Perth company behind a $6 billion port and rail project.
Shares in junior explorer Padbury Mining have plunged as the company resumed trade and revealed details of its short-lived $US6.47 billion ($6.89 billion) equity funding deal to construct a port and rail network at Oakajee.
Mining giant Rio Tinto is suing Brazilian miner Vale and an Israeli company over the rights to develop the massive Simandou iron ore deposit in Guinea.
Brierty and three Aboriginal contracting firms have won a $300 million contract with Rio Tinto to complete mining and civil works on a project in the Pilbara.
Mirabela Nickel has reported a 14 per cent drop in nickel production for the March quarter as the cash strapped company seeks to undertake a complex restructuring.
Perth-based mining and exploration company Mindax will reduce its board membership from six down to four as a part of a company restructuring effort designed to minimise costs.
Gold prices have edged lower after the Federal Reserve cut bond purchases as expected and said economic growth is back on track after dropping off during the winter.
Chevron Australia managing director Roy Krzywosinski and Rio Tinto Iron Ore chief executive Andrew Harding have joined some of Australia's top business leaders in being honoured by the American Australian Association.
Woodside chief executive Peter Coleman has urged the company's shareholders to be patient, as it works through multiple challenges affecting its growth projects and its operating costs in Australia.
Less than three weeks after announcing it had secured $US6.47 billion ($6.89 billion) in equity funding to construct a port and rail network at Oakajee, junior explorer Padbury Mining says the deal is now dead.
Perth-based miner Aditya Birla Minerals disclosed today it has stood down the majority of employees at its Nifty copper mine as it continues to investigate suspected ground subsidence.
Hancock Prospecting is being compelled to hand back a stake in the Rhodes Ridge iron ore project after the Gina Rinehart-led company dragged its heels after a court ruling.
Galaxy Resources has agreed to sell its Jiangsu lithium carbonate plant in China to Sichuan Tianqi Lithium Industries in a deal worth about $249 million.
Global oil prices have risen, supported by tensions over the Russia-Ukraine crisis and expectations of a drop in US commercial inventories at the key Cushing terminal.
Roc Oil and Horizon Oil have struck an $800 million deal to merge their assets, with the combined company looking to produce up to 20,000 barrels of oil per day.
Troy Resources managing director and chief executive Paul Benson has given notice of his resignation after nearly seven years at the head of the gold and silver producer.
Oil prices have fallen in London but edged higher in New York with fresh Western sanctions on Moscow milder than feared and Libya taking more steps to increase exports.
Troy Resources has warned it may not reach its financial year production target at its Casposo gold and silver mine in Argentina amid setbacks in accessing high grade ore sections.
BC Iron has beaten iron ore sales guidance from its Nullagine joint venture for the March quarter despite lower than anticipated production in the period.
Energy and Minerals Australia has extended its trade suspension period to almost a month after signalling it has been unable to complete a proposed capital raising.
The state government has signed a native title agreement with the Ngarluma people of the Pilbara over land intended for a deepwater port at Anketell Point.
Gold miner Troy Resources says it has secured the final funding required to develop its Karouni project in West Guyana, with Investec Bank agreeing to provide the company with a $100 million revolving credit facility.
