Mining

Shares in Cape Lambert Resources gained 10 per cent on the ASX today, after the company announced a plan to buy back 10 per cent of its shares.

Murchison explorer Fortunis Resources has made a successful debut on the Australian Securities Exchange after raising $2.8 million through an initial public offering last week.

Incitec Pivot has given shareholders an optimistic financial outlook for its explosives and fertilisers businesses in 2013 despite a tough year in 2012.

Sheffield Resources shares jumped 13 per cent on the ASX after it announced a maiden high grade resource for its Thunderbird prospect at the Dampier heavy mineral sands project near Derby.

Perth-based Peak Resources plans to tap the market for funding by mid-2013 amid plans to begin producing rare earths in three years.

Tungsten Mining has made its debut on the Australian Securities Exchange, after raising $5.1 million through its initial public offering last week.

Perth-based Firestone Energy has received an all-scrip takeover proposal from the Brian McMaster-chaired Range River Gold, that values it at $24.9 million.

Administrators for collapsed nickel miner Kagara have reached agreement to sell off the group’s North Queensland assets for $40 million.

The price of unleaded fuel is expected to fall by up to three cents a litre in the final two weeks of 2012.

Perth-based junior Kinetiko Energy has raised $3 million to fund drilling activities at its Amersfoot coal bed methane project in South Africa.

International investment bank Goldman Sachs has released a bullish outlook for the iron ore market, predicting average spot prices to hover around $US140 per tonne in 2013.

Engineering and construction group Clough has proven not all is doom and gloom in the mining services sector in the lead-up to the holidays, saying recent contract wins have it expecting a better p

Macmahon Holdings' shares have dropped by more than a fifth after resuming trade following an $80.7 million capital raising announcement and the sale of its construction business.

Atlas Iron has announced three new off-take agreements, covering more than 2.2 million tonnes of iron ore each year.

Perth-based Paringa Resources has raised $10 million through an initial public offering, which closed fully subscribed.

Caltex Australia has pleased the market by forecasting a return to full-year profit in 2012 but a slowdown in its marketing business has raised concerns.

Fortescue Metals Group says its Iron Bridge magnetite deposit near Port Hedland could be the next non-core asset it sells off, after it announced a significant increase in resources at the project.

Mermaid Marine has announced a $20 million contract win with Inpex at the Ichthys liquefied natural gas project off the Western Australian coast.

Australian retailers may be doing it hard, but they are fighting back with a new industry group designed to lobby governments on a range of issues affecting the struggling sector.

Shares in Iluka Resources fell by nearly six per cent on the ASX today after it said sales volumes to the end of November were at the bottom end of guidance.

Aquila Resources has announced it will begin arbitration with joint venture partner AMCI for its West Pilbara Iron Ore Project in February.

Forge Group has announced a $105 million contract win with Worley Parsons, to construct a power station for BHP Billiton near Newman.

Contractor Macmahon Holdings had more bad news for shareholders today, announcing that it would sell its construction business for just $16 million, raise more capital at a deeply discounted price,

BC Iron has raised $47 million from a share placement which will ensure the company has enough funds to complete the its acquisition of an additional 25 per cent stake in the Nullagine iron ore joi

Construction and engineering firm Decmil Group has won a $30 million contract with Rio Tinto to construct workshops and other minesite facilities in the Pilbara.

BHP Billiton has extricated itself from the contentious Browse gas project, agreeing to sell its interest to PetroChina in the third major ownership change the project has seen this year.

Cape Lambert Resources has agreed to pay the Australian Taxation Office $33 million as a provisional settlement for a dispute over $96 million in back taxes and penalties.

Engineering contractor Clough has extended its $200 million finance facility with a consortium of banks for a further three years.

Sirius Resources has raised $44 million to advance drilling programmes and project studies at its Nova copper-nickel discovery near Norseman.

Woodside managing director Peter Coleman has called for a broader debate on productivity issues, saying there has been too much focus on blue collar wage rates and not enough on costs the gas indus

Engineering contractor Sinclair Knight Merz has announced a renewal of its engineering, procurement and construction management agreement with Rio Tinto through to 2015.

A lack of uncommitted available reserves coupled with the demand for Australia's liquefied natural gas could create challenges for domestic gas supplies by 2016.