Mining

A sharp fall in the nickel price, the Varanus Island gas explosion and write downs have all contributed to a red calendar year for Minara Resources, which reported a net loss of $19.8 million, down from the previous year's $270.5 million net profit.

Premier Colin Barnett remains optimistic that Inpex may change its mind over the location of its $15 billion liquefied natural gas project after meeting with the company's senior executives.

A boardroom battle at Rio Tinto may be looming as leading shareholders reportedly want former chairman-elect Jim Leng reinstated.

Mining entrepreneur Tony Sage has been appointed to the board of Perth-based gold explorer Tianshan Goldfields, taking over from Graham Woolford who has tendered his resignation.

Gold miner St Barbara, which holds operations in Western Australia, expects to extend its half-year loss to some $44 million as a result of write downs and lower carrying values of listed investments.

Administrators for Monarch Gold Mining say the Minjar gold project is likely to be sold within the next few days as a mixture of local and overseas parties express interests in other assets.

Fortescue Metals Group says investment talks with a number of parties remain incomplete as new details emerge over its $3 billion expansion plans.

This year’s 1st Amongst Equals winner, David Flanagan, sees himself as part of a new generation of mining entrepreneurs.

FROM a sailing career that began at age 16 on the STS Leeuwin to becoming the first female and youngest ever offshore installation manager of an oil-producing facility, Suzannah Vaughan (pictured right) packed a lot into life.

A DIRECTOR at Compass Hotel Group has bought shares at a very favourable rate compared to the company's initial public offer price some 13 months ago.

Shares in Fortescue Metals Group have surged as much as 25 per cent today as the iron ore miner confirms it has been in talks with companies from China and the UK over investment opportunities.

Extract Resources has revealed that Rio Tinto has boosted its interest in dissident shareholder Kalahari Minerals, as its shares soared nearly 40 per cent over the past five trading days.

Perth-based Arafura Resources has become the latest miner to sign an investment deal with a Chinese company, which has agreed to inject at least $8 million in return for a major shareholding.

Stirling Resources has expanded its resources investments with a $4.8 million investment in the assets of collapsed mineral sands miner, Matilda Minerals.

Engineering and construction firm Clough has confirmed it has decided to sell its 82 per cent stake in PT Petrosea Tbk.

Miner Aditya Birla says it is exploring various funding options after it revealed it will be hit by $112 million in liabilities on the back of the falling copper price.

A scoping study into Scotgold Resources' Cononish gold and silver project in the United Kingdom has confirmed the economic potential of the operation, which has estimated capital costs of $27 million.

Civil contractor Brierty expects a steady second half despite softer market conditions as it posts a profit rebound for the first half of fiscal 2009.

Subiaco-based Western Metals has agreed to buy Sub Sahara Resources' interests in a number of gold projects in Tanzania for an initial $1.25 million.

Mining lobby groups have today welcomed the state government's plan to introduce an $80 million, four-year exploration incentive program.

After nearly three months in a trading hiatus, shares in OZ Minerals have jumped as much as 33 per cent in early trade today, boosted by yesterday's $2.6 billion takeover by China's Minmetals.

A Chinese white knight for Oz Minerals may give stressed shareholders some relief but it will only add to the mounting pressure on federal Treasurer Wayne Swan who has the final word on foreign investment.

Cost-cutting measures have reached new heights with Osborne Park-based Northern Mining going to extremes to reduce the company's overheads and its ongoing operating costs in light of the current economic environment.

Shares in Western Areas have been placed in a trading halt pending the release of details of a nickel offtake agreement.

Uranium miner Paladin Energy has significantly extended its interim net loss on the back of a $US527 million ($A804 million) impairment charge to its Mt Isa assets and investment write downs.

Integra Mining will raise almost $14 million through a share placement, with proceeds to be applied to feasibility studies and exploration at its Randalls and Aldiss-Randalls projects.

Uranium miner Paladin Energy will move to compulsorily acquire the remaining shares it does not own in Fusion Resources, after its takeover offer for the minnow closed yesterday.

Rio Tinto has reported a 50 per cent drop in net earnings for the 2008 calendar year which includes an asset impairment charge of $8.4 billion, mostly attributed to a write down of its aluminium business.

Mining giant Rio Tinto has sold minority interests in some of its most valuable assets, including iron ore miner Hamersely Iron, to Chinese group Chinalco as part of a transformational US$19.5 billion deal.

East Perth-based Metals X has reached agreement to sell its Collingwood tin project to Icon Resources for an upfront payment of $250,000.

Shares in Leighton Holdings have surged as much as 10 per cent today as Australia's biggest construction company reports a 56 per cent fall in first-half net profit and a $239 million write down on the value of its infrastructure investments.

Trade opportunities The Western Australian Trade Enquiry Service is operated by the Chamber of Commerce and Industry WA with the support of the WA Government's Department of Industry and Resources.