Mining

Gold prices have locked in the largest weekly drop since September as simmering worries over the likely end of US stimulus efforts sent futures down 3.4 per cent.

Embattled miner Mirabela Nickel has formally acknowledged “significant uncertainty” about whether it will continue as a going concern, after Canadian regulators issued a ‘cease trade' order.

Empire Oil & Gas has conceded defeat in its bid to stave off efforts by major shareholder ERM Power to overthrow its board, saying it now believes ERM's proposal is the best way forward for the company.

Fortescue Metals Group chairman Andrew Forrest says there is strong demand to employ indigenous Australians but "soft racism" tied to Australian larrikinism needs to go

Junior oil and gas company Pura Vida Energy has named Jeff Dowling as its new chairman and Ric Malcolm as a non-executive director, with current chairman Bevan Tarratt to resign from the board.

Gold futures have extended their early losses as minutes from the Federal Reserve's most recent policy meeting show some officials still expect a wind-down of the central bank's bond buying in coming months.

Perth engineering firm Clough has ceased trading on the ASX after securing the green light from shareholders and the Federal Court to proceed with a $462 million takeover by South African group Murray & Roberts.

Perth-based junior exploration firm Walkabout Resources says a deal signed last month with coal technology group Coalswana could underpin its four-pronged approach to developing its Takatowane coal

Perth-based Paladin Energy is persisting with negotiations on the sale of a minority stake in its Langer Heinrich uranium mine in Namibia, and has assured shareholders it will give them an update by the end of the month.

Ausdrill managing director Ron Sayers says he no longer plans to step down from the role next year, despite the prospect he could face a retrial on tax fraud charges.

Long-time chairman Terry Streeter has announced he is stepping down from the board of nickel miner Western Areas.

BHP Billiton's annual meeting in Perth today resembled a debate on climate change, with chairman Jac Nasser expressing frustration that the company's achievements in that field were not being recognised.

Gold futures have extended their early losses as minutes from the Federal Reserve's most recent policy meeting show some officials still expect a wind-down of the central bank's bond buying in coming months.

Mineral Resources is expecting to defy the mining services downturn, telling shareholders today that it anticipates strong growth in net profit in the current financial year.

Gindalbie Metals says it will continue to purchase iron ore from third parties to make up for a shortfall of concentrator production at its Karara mine, as the company warned shareholders it will need additional capital investment before it can reach capacity at its main magnetite project.

Northern Star Resources has weathered a fluctuating gold market with low costs and strong profits, and is looking forward to new acquisition opportunities, chairman Chris Rowe announced at its annual general meeting today.

RCR Tomlinson says it's confident its newly acquired infrastructure business will provide significant growth in the year ahead as the company looks to diversify its revenue streams.

Perth-based miner Viking Ashanti will merge with Mongolia-focused coal developer Auminco Mines under a share exchange transaction, with a capital raising of $4.5 million planned for the consolidated company in early 2014.

The Clough AMEC joint venture has been awarded a two-year contract extension worth $150 million to continue to provide operations and maintenance services at ConocoPhillips' Bayu-Undan oil and gas facilities in the Timor Sea.

Labor has launched a last-ditch fight to keep the mining tax as the federal government prepares to scrap the measure in a parliamentary vote.

Perth-based Legend Mining has entered an agreement for the $17.5 million sale of its 90 per cent share in the Ngovayang iron ore project, in the Republic of Cameroon to Indian company Jindal Steel and Power.

Consulting engineering firm AMEC is the latest contractor to be awarded work on the $10 billion Roy Hill iron ore project.

Paladin Energy boss John Borshoff has been granted a contract extension, just over a week after the company moved to pacify angry shareholders by slashing his termination entitlements.

Dampier Gold and Ord River Resources have announced a farm-in and joint venture exploration at Dampier's Plutonic Dome project.

West Perth explorer Azure Minerals has raised $2.1 million through a share placement as it looks to undertake further drilling at its Cascada and Promontorio projects in Mexico.

Monadelphous Group has flagged softer revenue levels in the second half of the 2014 financial year but says its final revenue figures will be dependent on a number of major tenders still to be awarded.

Mining equipment supplier WesTrac says its coal customers are still hurting and looking for cost cuts due to lower prices and a high Australian dollar but the iron ore sector in Western Australia continues to provide opportunities for the company.

Energy Metals is seeking to raise $9.4 million for its Bigryli uranium and Ngalia regional prospects in the Northern Territory.

Global oil prices have fallen, with the New York benchmark contract hitting the lowest level in more than five months amid ballooning US crude-oil supplies.

Forge Group has requested a third extension to its voluntary trading suspension after admitting that the scale of losses on two power station projects won't be known until it completes negotiations with a customer and key sub-contractor.

Parent company Resolute Mining intends to officially purchase Noble Mineral Resources' Bibiani project and sell off its remaining assets with a proposed deed of company arrangement.

Emeco Holdings expects improved trading conditions at its operations in Canada and Chile but still anticipates a net operating loss for the 2014 financial year as it struggles to combat ongoing softness in its main commodity sectors of thermal coal and gold.