Mining

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.

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.

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.

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.

South Perth-based Uranium Australia is gearing up for a local stock market listing in October as it receives expressions of interest from brokers to underwrite its $6 million initial public offer.

BC Iron is one step away from receiving full support from Fortescue Metals Group for its $43 million Pilbara iron ore project, with the miner requesting one further test.

West Perth-based Exco Resources has asked Barclays Capital to arrange a $16 million debt financing facility, which together with the recent $7 million equity raising, will be used for the development of the White Dam gold project.

Australasian Resources has stepped up negotiations with other companies after finance talks with Shougang Corporation over a $2.7 billion iron ore project in the Pilbara collapsed.

Nickel miner Panoramic Resources has confirmed it is running the ruler over Barrick Gold's Osborne copper-gold mine in Queensland as part of its acquisition plans.

Magellan Metals today announced that the Department of Environment and Conservation has given final sign off to all of the requirements of the Esperance Lead Removal Plan.

Breakaway Resources has sold its Earn-In Rights for the Mt Finnerty Joint Venture to Reed Resources Ltd for a total consideration of 500,000 fully paid ordinary shares.

Apollo Minerals has agreed to purchase from Thundelarra Exploration a tenement known as Mt Oscar East, with respect to all mineral rights.

THEY might be dirty words in environmentalists' lexicon, but coal and uranium remain hot property in the mining investment sector.

IRON ore veteran George Jones believes Australia and China must learn from the "spying" dispute involving Rio Tinto iron ore negotiator Stern Hu, given the importance of the relationship between the two nations.