Aquila Resources will respond to a $1.4 billion joint takeover bid from listed railway operator Aurizon and Chinese steel giant Baosteel within the next two weeks following the dispatch of a bidders' statement today.
The slump in the price of iron-ore to near 20-month lows has failed to halt the development of assets in Australia and overseas, despite ongoing cost cutting across the sector.
Chinese steel giant Baosteel and listed railway operator Aurizon have cleared a key hurdle in their $1.4 billion joint takeover bid for Perth-based Aquila Resources, with the Foreign Investment Review Board giving the green light to the proposed deal.
It may not be a feeding frenzy, yet, but the flood of deals in the Australian mining industry is a pointer to a significant and very positive mood swing.
The $1.4 billion joint bid by Baosteel and Aurizon for control of Perth-based Aquila Resources marks a new wave of Chinese investment interest in WA's iron ore.
Two major events last week highlighted the private sector's desire to deliver new port infrastructure, and it's a trend the Barnett government could take even further.
Continued growth of the Pilbara as an export-focused iron ore province received a huge boost today when Chinese steel giant Baosteel and Australian railway operator Aurizon teamed up to bid for the Perth company behind a $6 billion port and rail project.
The state government has signed a native title agreement with the Ngarluma people of the Pilbara over land intended for a deepwater port at Anketell Point.
Aquila Resources says it has resolved its differences with joint venture partner Vale, with the two parties agreeing to the settlement of a long-running legal dispute related to their Eagle Downs coking coal project.
Aspiring iron ore miner Aquila Resources has appointed former Gindalbie Metals managing director Tim Netscher to its board as an independent director, while long-serving Aquila non-executive direct
Property executives were the big movers in this year's Wealth Creators list, while the resources slowdown put the hurt on mining services directors' fortunes.
Aquila Resources is considering legal action after talks broke down with a South African government-backed company over alleged overlapping mining rights to a manganese deposit in South Africa.
Mining industry pundits bemoaning the end of the ‘boom' will be pleasantly surprised to know that up to a dozen major projects could go ahead over the coming year.
The outlook for Aquila Resources' Queensland coal project appears gloomy with the company admitting it has revised its work plan and reduced the workforce.
Founding director and chairman of Aquila Resources Charles Bass has sold off almost $6.2 million worth of shares, as part of moves that reduced his beneficial interest in the company to 10.7 per ce
Aquila Resources shares slumped today after the company disclosed that it would continue to restrict spending at its ambitious West Pilbara iron ore project to "minimum" levels for the rest of the
Aquila Resources has disclosed that it has still not reached agreement with its joint venture partner AMCI on a 2012-13 budget for their West Pilbara iron ore joint venture.
The value of shares held by some of the biggest names in mining have slumped along with the companies they lead, but there are pockets of good news in what has been a tough year on the markets.
Iron ore and coal miner Aquila Resources has reported a net loss of $238,000 for the year ended June 30, down from a $3.1 million profit in financial year 2011.
At the very end of an extraordinary week, a late announcement from an unlikely source – Transport Minister Troy Buswell – gave one of the few clear signals about future growth in the mining sector.
Aquila Resources says it is going to slash spending at its West Pilbara iron ore project, as equity capital markets remain tight and clouds of uncertainty swirl around the global economy.
A DECADE ago, engineering and construction contractor Monadelphous Group just made it into a listing of the state's 50 largest companies, with a market capitalisaton of $71 million.
WITH some experienced campaigners suggesting the current mergers and acquisitions market is the worst they have ever seen, there is plenty of finger pointing to overly exuberant deals of the past f
Aquila Resources is a step closer to realising its $6 billion West Pilbara iron ore project after studies showed that two mines that would supply the overall development were economically and techn
Aquila Resources says it has secured nearly all of the funding required for the development of its West Pilbara iron ore project, after selling its main coal asset to Japan's Sumitomo Corporation.
Aquila Resources says it is in advanced negotiations with an Indian consortium regarding the sale of its Washpool coal project in Queensland but is yet to receive an acceptable offer.
Aquila Resources has secured a $250 million, 12 month interim finance facility as it deals with delays in obtaining the main funding for the $6 billion Anketell Point port and West Pilbara iron ore
