Mining

BHP Billiton is revelling in the commodities boom and on track to record pre-tax profits of $30 billion for the financial year, according to reports.

Severe water shortages in Western Australia's wheatbelt region has led to an official declaration of water deficiency by the state government.

Investor dissatisfaction over what they say is an inadequate buyback proposal by Rio Tinto has led to the miner's shares losing ground on the London and Australian stock exchanges despite bumper profits.

Perth-based miner Perilya has given the green light for the development of the Potosi/Silver Peak zinc-lead-silver project, near Broken Hill in New South Wales.

The owner of the Toronto Stock Exchange, TMX Group, has bought a 50 per cent interest in MinesOnline, a West Australia-based company that connects buyers and sellers of mining assets and projects around the world.

Premier Colin Barnett says there are "grave risks" in pursuing new laws to ensure local firms gain work from major projects, after the steel industry and unions launched a campaign to keep resources fabrication and manufacturing jobs in Western Australia.

Australia's biggest gold miner, Newcrest Mining, has more than doubled its first half net profit due to record gold production and higher commodity prices.

Perth-based software developer ISS Group says it will consider paying an interim dividend, after reporting a significant lift in profit in the December quarter.

Shares in Perth-based mineral sands hopeful Latin Resources have jumped after it announced a major expansion of its Guadalupito iron and mineral sands project in Peru.

Shell Australia and Woodside Petroleum have bolstered their relationship, entering a deal to redevelop fuel supply facilities at Dampier's King Bay.

Chevron has announced its tenth offshore discovery in Australia over the past 18 months, with a significant Carnarvon Basin find that will feed into its $43 billion Gorgon natural gas project.

Independence Group has launched a friendly all scrip takeover offer for base metals miner Jabiru Metals, in a deal that values the target at $532 million.

Perth-based resources sector services provider NRW Holdings has flagged a rise in first half net profit of about 30 per cent, compared to the previous corresponding period.

Rio Tinto has announced plans to extend its Marandoo iron ore mine, with the international miner committing $US933 million to stretch its life by 16 years.

Hang on to your hat and watch your savings because if last night's sharp rise in the price of gold is an accurate guide, a long-predicted wall of inflation is about to break over the world.

Mount Gibson Iron has announced a first half profit of $140 million, despite experiencing a fall in production.

Pan Asia Corp's share value has jumped, after it announced a 73 per cent increase in its resource estimate at its TCM coal project in Indonesia.

Plexal Group has underpinned the opening of its Bangladesh office by winning a $15 million contract to provide engineering services for Chevron.

Two of Western Australia's top sharemarket performers of 2010, Doray Minerals and Hunnu Coal, have seen their share prices dip after announcing resource estimates.

The state's environmental watchdog has recommended the state government knock back a plan by Central West Coal to supply the proposed Coolimba Power Project in the Mid-West.

Westgold Resources has announced it seeks to snap up the remaining shares it does not already own in Aragon Resources, to create a mid-tier mining house with potential annual gold production of 200,000 ounces.

Mining contractor MACA has won its first job outside Western Australia, after being appointed to provide mining services at WPG Resources' Peculiar Knob iron ore mine in South Australia for $285 million.

Nomad Building Solutions has been slapped with a $4.25 million claim for damages, over delays in designing and building central facilities for Chevron's Gorgon liquefied natural gas project.

Ausdrill has announced the acquisition of hydrogeological drilling firm Connector Drilling.

Catalpa Resources has reported its $23.4 million capital raising has been oversubscribed by strong demand from existing shareholders and new investors, just two days after it was announced.

Atlas Iron shares have risen 5 per cent, after it announced a 24 per cent increase in its direct shipping ore resources.

Reed Resources and its joint venture partner, Mineral Resources, have received final approval to commence construction of the Mt Marion lithium project near Kalgoorlie.

Strategic Marine has cashed in on Chevron's Gorgon liquefied natural gas project, winning a contract to build four workboats for the consortium developing the gas jetty and other marine structures.

West Perth-based minerals hopeful Northern Uranium has reflected its shift to a diversified focus by rebranding itself as Northern Minerals.

The resources sector says workplace relations have become substantially more difficult under Labor's Fair Work Act, with unions having an increased influence, according to a recent survey of employers.

Apex Minerals says it will seek to raise $22.6 million through a 1 cent per share rights issue and a 1.8 cents per share placement to institutional investors to pay out its gold upside participation notes.

Wah Nam International says it will proceed with its takeover bid for Brockman Resources, after the Takeovers Panel rejected an application that Wah Nam had acquired Brockman shares in breach of the Corporations Act.