Mining

Energy giant Woodside Petroleum has lifted its first quarter revenue despite a small slide in production.

Padbury Mining has sought another extension to its suspension from trading, saying it needs more information from its mystery backer to determine whether they have the capacity to provide a massive $US6.47 billion ($6.89 billion) funding deal to construct a port and rail network at Oakajee.

West Perth-based gold miner Red 5 has cleared a key regulatory hurdle on the way to resuming production at its mothballed Siana gold mine in the Philippines.

Iluka Resources shares have fallen six per cent after the mineral sands miner recorded a drop in production and revenue.

Fortescue Metals Group shipped record quantities of iron ore in the first three months of 2014, despite posting softer production on the back of seasonal wet weather.

BHP Billiton has raised its full year guidance for iron ore and metallurgical coal production after achieving record output so far this fiscal year, but has trimmed guidance for petroleum production.

Perth-based private company QCG Resources has agreed to purchase the mothballed Avesbury nickel mine in Tasmania from Chinese-controlled miner MMG for $40 million.

Premier Colin Barnett says he can't see "a great deal of substance" in junior explorer Padbury Mining's claims it has secured a massive $US6.47 billion ($6.89 billion) funding deal to construct a port and rail network at Oakajee, as the company missed a self-imposed deadline to reveal its mystery backer.

Perth-based rail services business Momentum Rail has been awarded a $4 million contract to supply rail workers and train drivers to the Roy Hill iron ore project in the Pilbara.

OZ Minerals says its copper production in the first quarter of 2014 was in line with the previous quarter, while gold production fell.

Rio Tinto produced and shipped less iron ore during the first three months of 2014 after bad weather affected its ports and mining operations in Western Australia.

Rio Tinto is tipped to beat rival BHP Billiton on iron ore growth in their latest quarterly updates, but the latter's petroleum division should make up for that.

Aquila Resources says it has resolved its differences with joint venture partner Vale, with the two parties agreeing to the settlement of a long-running legal dispute related to their Eagle Downs coking coal project.

Perth-based surveying firm Asphar Survey Group has appointed administrators to one of its key subsidiaries, with difficult trading conditions forcing the company to restructure its operations.

Civil construction activity in Western Australia is set to fall by about 25 per cent over the next five years as a number of major resources projects are completed, according to a new report by forecaster BIS Shrapnel.

Coalspur Mines has dumped Forge Group's still-active North American business as its preferred engineering, procurement and construction contractor, as the fallout from the failed engineering company's collapse continues.

Buru Energy has announced a major change in its Canning Basin exploration program after disappointing early results, saying today it was looking to release the specially-built rig it had contracted to use this year.

The owners of the Karara iron ore project have transfered Gindalbie Metals boss Dale Harris to a chief executive role at Karara Mining, in an apparent bid to bring the trouble-plagued project back on track.

Cassini Resources has raised $10 million via a share placement with the proceeds earmarked for exploration activities its recently acquired West Musgrave nickel project.

Hours after announcing it had secured $US6.47 billion ($6.89 billion) in equity funding to construct a long-heralded port and rail network at Oakajee, junior explorer Padbury Mining has put its shares in a second trading halt in anticipation of revealing the identity of the investors.

Perseus Mining has launched an investigation into the cause of a fire in the processing plant at its Edikan gold mine in Ghana yesterday.

Minrex Resources has agreed to a reverse takeover by private firm Skin Elements, a sunscreen and cosmetics company steered by former New Tel head Peter Malone and corporate advisor Luke Martino.

MZI Resources will start construction within months on its Keysbrook mineral sands project in Western Australia after securing a US$64 million debt facility to help fund the development.

Shares in cashed-up Moly Mines have slumped after the company's two most senior executives left the business and it admitted it was likely to suspend trading on the ASX after failing to acquire a new business.

Alcoa lost $US178 million in the first quarter as revenue fell on lower aluminium prices, but profit beat expectations after excluding charges to idle capacity at aluminum smelters and mills.

Global engineering group WorleyParsons will cut more jobs in a new restructure that will hit this year's bottom line by $35 million.

Global oil prices have jumped on renewed Ukraine tensions after pro-Russian protesters seized government buildings in the eastern city of Donetsk.

Federal Industry Minister Ian Macfarlane today launched a new centre dedicated to research in the resources sector, but was coy on whether Canberra would support a similar body that Woodside has been pushing for the oil and gas sector.

Heron Resources says it can dramatically reduce capital costs at its Kalgoorlie nickel project by pursuing a smaller-scale plant option, describing the results of a scoping study as a step-change improvement in the economics of the project.

Perth-based explorer Kin Mining has agreed to purchase the Leonora gold project in the Goldfields from the administrators of Navigator Resources for $2.7 million.

Shares in Perth-based explorer Tawana Resources are trading lower after the company announced it has raised $5 million through a discounted share placement.

Global oil prices have fallen after rebels agreed to reopen two of the four blockaded oil-export terminals in eastern Libya, suggesting the country's blockaded supplies might come back on the market.