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.
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.
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.
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.
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.
ENCOURAGING signs from two key biofuels players points to a potential recovery for the sector, recently besieged by rising feedstock costs and plant commissioning problems.
Initial study results into Heron Resources' Kalgoorlie nickel project has estimated capital costs at $US1.5 billion ($A2.2 billion) and a projected mine life of 34 years.
VDM Group is expecting a better second half performance after forecasting its first half profit to fall to $3 million, prompting its shares to fall by as much as 63 per cent in trade today.
The tax office has warned mining companies to be cautious before entering into arrangements that allow for immediate deduction claims for future obligations to rehabilitate a mine site.
