WITH much front page hype, the federal government last week announced what it claimed was Australia's biggest ever deal when PetroChina agreed to buy 2.25 million tonnes of LNG a year for 20 years, worth $50 billion.
Uranium exploration company, Extract Resources has launched a $91 million capital raising via a non-renounceable rights issue and private placement to institutional investors to accelerate exploration activities at its Rossing South project in Namibia.
Dramatic drops in key commodity prices, and the effect of the economic downturn, have impacted heavily upon the bottom line of exploration and mining outift, Kagara.
Reed Resources has raised $6.4 million and will raise a further $4.5 million in a share purchase plan to step up exploration and development activities on three separate projects.
Australia's largest gold producer, Newcrest Mining has awarded Nedlands-based mining software provider, ISS Group a $4 million contract for its Mining Intelligence Layer project, utilising ISS's BabelFish product.
Cazaly Resources has secured engineering firm, Lycopodium to complete the pre-feasability study at the Parker Range Iron Ore Project, located in the Yilgarn district of Western Australia.
For companies operating in the mining and metals sector, costs, consolidation and capital have been identified as the greatest risks, an annual report has found.
Manganese and iron ore miner, OM Holdings' operating profit after tax for the half year ending June 30 has plunged to $10.8 million, down from $96.9 million the previous corresponding period, impacted by sharp falls in global commodity prices.
An increasing number of Australian organisations are offering paid maternity leave according to research released yesterday by by the Equal Opportunity for Women in the Workplace Agency (EOWA) and Alcoa of Australia.
Gold producer Norton Gold Fields has achieved earnings before interest, tax, depreciation and amortisation (EBITDA) of $36.6 million for the year to June 30, an increase of $11 million on the previous year, driven by higher gold prices and and production.
Straits Resources is poised to sell two of its Pilbara base metal projects to West Leederville-based mineral exploration company, Venturex Resources in return for a substantial shareholding as part of a deal worth up to $11 million.
Gold producer, Avoca Resources managed to raise its stake in takeover target Dioro Exploration to more than 44 per cent by the close of business yesterday, ending the four-month acquisition proposal.
WESTERN Australia may be an isolated state and its industry dominated by the resources sector, but that need not be a major issue for a technology firm entering the global marketplace.
THE impact of the global financial crisis on the drilling industry was painted in stark relief this week in a flurry of news from key players in the sector.
FRENCH energy giant GDF SUEZ, formerly Gaz de France, is expected to beef up its presence in Perth following a $US370 million-plus deal with Santos to develop floating LNG facilities off the state's far north coast.
HEAVY-LIFT shipping carrier Schiffahrtskontor Altes Land (SAL) has expanded its Australian operations, opening an office in Fremantle as part of a strategic plan to service the Australasian resourc
PERTH students seeking commerce skills to engage with Chinese business have a new avenue open to them with the launch of a program at Murdoch Business School.
Engineering and construction company, AusGroup has delivered record earnings thanks to it work in the resources sector over the last 12 months, with revenue and profit surging 26 per cent and 52 per cent respectively.
Globe Metals & Mining has teamed up with South African engineering outfit, Thuthuka Group to invest $US10.6 million into Globe's Kanyika Niobium Project, in return Thuthuka will receive a 25 per cent stake in the project.
Mineral sands producer Iluka has posted a net losst after tax loss of $55.8 million in the half year to June 30 after cutting production earlier this year and selling its interest in Consolidated Rutile (CRL).
Shares in iron ore pellet producer Grange Resources fell after it unveiled plans to raise $167 million in new equity in a deeply discounted offer to key stakeholders including a Chinese investor.
Southern Cross Electrical Engineering have posted a record net profit after tax of $15.5 million, an increase of more than 36 per cent, thanks to record revenues of more than $100 million, up by more than 19 per cent on the previous year.
Mining services companies Brandrill and Ausdrill have proposed a friendly scrip merger to create whay they say will be a larger, more diverse company able to better serve existing clients and with greater financial capacity to fund future growth.
Iron ore miner Fortescue Metals Group has agreed to a price for all the iron ore it sells to Chinese steel mills for the six months to the end of December.
Leighton Holdings has demanded that a standstill agreement regarding its shareholding in Macmahon Holdings be scrapped should a partnerhship arrangement continue beyond this year's deadline.
Integra Mining has selected GR Engineering Services as its preferred contractor for the refurbishment and commissioning of a processing plant for the $64 million Randalls gold project.
The Western Australian Trade Opportunities Service is operated by the International Trade Centre of the Chamber of Commerce and Industry of Western Australia.
