Mining

MIRABELA Nickel plans to tap the equity market again to help pay for cost overruns at its Santa Rita nickel project in Brazil.

PREMIER Colin Barnett was understandably chuffed to announce this week that Chinese steel giant AnSteel would spend the next 18 months studying the viability of a potential steel mill, at Oakajee.

Subiaco-based resources company TNG says its Mount Peake vanadium project in the Northern Territory is economical despite a $500 million price tag.

Dominion Mining says revenue for the 2009 financial year reached $110 million as a higher gold price offset lower production.

Fortescue Metals Group has released a maiden resource for its Glacier Valley tenement area in the Pilbara, which is subject to a joint venture with China's Baosteel Group Corporation.

Dioro Exploration has capitulated to Avoca Resources' hostile $68 million takeover after the fellow gold miner increased its bid and a rival deal with a Canadian miner fell through.

Dioro Exploration's defence against Avoca Resources' hostile takeover bid has collapsed after its white knight, Northgate Minerals Corporation, terminated talks over the proposed acquisition of Dioro's stake in a key gold asset.

West Perth-based Sipa Resources has signed a $16 million joint venture deal with Malaysian investment company Affluent Net over its two copper projects in the Gascoyne.

The Chamber of Minerals and Energy has backed Premier Colin Barnett's suggestion of relaxing foreign worker restrictions with the state potentially requiring an additional 26,000 employees by 2013.

West Perth-based Alchemy Resources has entered an agreement with Barrick Gold over the potential processing of gold from its Hermes project at the latter's Western Australian facilities.

Western Australian business are getting quicker at paying bills with the average time reduced by 2.7 days, the latest Dun & Bradstreet quarterly trade payment analysis shows.

Perdaman Chemicals and Fertilisers have appointed Societe Generale as its financial advisor for the $3.5 billion Collie urea project.

Fox Resources has paid $100,000 for the 2 per cent net smelter royalty that was payable to De Beers Australia Exploration on Pilbara tenements under the access agreement.

Shares in Mirabela Nickel have been placed in a trading halt as it undertakes another capital raising to help pay for cost overruns at its Santa Rita nickel project in Brazil.

Tokyo Electric Power Co is reportedly considering buying a stake in Inpex's $20 billion Ichthys liquefied natural gas project.

Belmont-based Independence Group and partner AngloGold Ashanti will proceed with a bankable feasibility study over the $710 million Tropicana gold project, which could be in production by early 2013.

Shares in takeover target Dioro Exploration have been placed in a trading halt ahead of an announcement regarding a Canadian company's proposal to buy it's flagship asset while hostile suitor Avoca Resources extends its takeover offer again.

Newmont Mining Corporation has revised down its full-year gold sales forecast as the $US3 billion Boddington gold project started operations yesterday, slightly behind schedule.

Premier Colin Barnett has furthered his Chinese investment intentions for WA, today witnessing the signing of a letter of intent between Asia Iron, which holds a Mid West iron ore project, and Chongqing International.

Miner Mount Gibson Iron says it has started legal proceedings in Hong Kong to recover money owed from iron ore sales to a Chinese company.

Osborne Park-based Fairstar Resources has secured a $5 million funding facility from Melbourne-based Fortrend Securities, to be used for exploration and working capital.

Nomad Building Solutions is the latest recipient of a Gorgon gas project contract, with work awarded as part of an overall $500 million contract to build the accommodation village.

MINING identity Andrew Forrest has continued his philanthropic ways, donating his all-scrip director payment from Poseidon Nickel to his charity, The Australian Children's Trust.

RESULTS of this year's branding survey highlight the difficulty associated with maintaining a positive brand for a person or company.

IN a time when a number of not-for-profit organisations are slashing non-core programs and tightening their purse strings, West Perth-based St John of God Health Care has taken a contrary approach and expanded its initiatives.

REAFFIRMING the importance of Western Australia's trade relationship with China is sure to be a high priority for Premier Colin Barnett on his relationship-building visit this week.

China faces an ongoing inability to translate unrivalled financial clout into a dominant relationship with its key Australian suppliers.

West Perth-based software and services provider Stratatel has acquired private IT company Resource Systems and Services for $500,000.

Subiaco-based Liberty Resources has signed an agreement with private company Clean Global Energy to develop an underground coal gasification project in Queensland.

Shares in nickel miner Mincor Resources closed nearly 20 per cent higher today, driven by a positive quarterly report where higher production and lower cash costs generated a net cash flow of $17.9 million.

Mining identity Andrew Forrest has donated around $10,000 worth of share to his charity, The Australian Children's Trust.

Atlas Iron says it will increase the size of its $11.7 million share purchase plan by 28 per cent to accommodate for a substantial amount of oversubscriptions.