Fortescue Metals Group reduced cash production costs around 45 per cent in the 12 months to the December quarter and has plans to further buy back debt in the months ahead, chief executive Nev Power said today.
Up to 380 employees will be made redundant when Perth-based manganese miner Consolidated Minerals puts its Woodie Woodie mine in the Pilbara on care and maintenance next month.
BC Iron shares plummeted today after the company announced production at the Nullagine joint venture would be suspended as a result of the weak iron ore price, with more than 200 jobs at risk.
Billionaire Gina Rinehart has seen off the first shipment of iron ore from her $10 billion Roy Hill project, on the same day BC Iron entered a trading halt ahead of a review of its Nullagine joint venture project.
It is one of the most overused quotes of all time, but if you look at the old and the new of Western Australia's mining industry it is impossible to avoid thinking about the first words in Charles Dickens' novel, A Tale of Two Cities: “It was the best of times, it was the worst of times”.
Former mining services company Viento Group is under new leadership after a board restructure replaced all directors, including John Silverthorne, who in July struck a deal to buy all of the compan
BC Iron expects to save about $2.3 million over three months after joint venture partner Fortescue Metals Group agreed to set the rail and port tariff for the companies' Nullagine project in accordance with varying iron ore prices.
Iron ore miner BC Iron has continued its run of cost saving initiatives at its Nullagine operation by awarding a $40 million road haulage contract to QUBE Holdings.
Atlas Iron says it achieved its annual production rate target four months early while reducing costs during the September quarter, and has started working towards a new iron ore mine in the Pilbara.
The median salary paid to chief executives at Australian mining companies fell by 12 per cent over the past two years, and is set to decline further after recent cost-cutting moves by the likes of BC Iron, Sundance Resources, Paladin Energy and Poseidon Nickel.
Iron ore miner BC Iron has fallen into the red with a net loss of $158.5 million for the financial year, on the back of impairments and falling commodity prices, and has declared no dividend payout.
There is no prize for guessing that iron ore companies have plunged to the bottom of the resources component of this year's TSR survey; but what is interesting is the rise of uranium hopefuls, despite few signs of an imminent increase in the uranium price.
It has been a tough year for WA's once-vaunted resources stocks, as our annual TSR survey reveals. Click through to see more on our Shareholder Returns feature.
The Pilbara Ports Authority lifted throughput to a record 619.8 million tonnes in 2014-15, primarily on the back of a 21 per cent jump in iron ore shipments through Port Hedland offsetting a small decline at Dampier.
Atlas Iron has accepted the state government's iron ore royalty relief program, which will deliver an up-front cash injection of $12.5 million and an expected total benefit of $23 million.
Mining services company Viento Group has gone into administration, despite having won major new contracts in the past month with iron ore miners BC Iron and Rio Tinto.
Atlas Iron has launched an extensive review of its operations, finances and possible asset sale opportunities in response to steep falls in the iron ore price.
Andrew Forrest's worst nightmare is that he will one day relive his painful experience with pioneering low-grade nickel ore processor Anaconda Nickel; so surely he must have suffered an ‘Anaconda moment' when the iron ore price fell below $US50 a tonne overnight.
BC Iron has terminated a mining services contract with Watpac Civil & Mining three months early as it seeks to cut costs at its Nullagine joint venture operation in response to the plunging iron ore price.
A Western Australian iron ore industry group has reluctantly mothballed its activities, citing the difficult economic circumstances facing the industry.
BC Iron has moved forward with its cost-cutting initiatives by awarding a $40 million contract to Viento Group to provide crushing and screening at its Warrigal hub, which forms part of the Nullagine joint venture.
You don't need to listen too closely to hear the pips squeaking in Western Australia's iron ore lemon after a week-long debate about the state's most important industry, which appears to be heading for a crisis that will hit companies and governments in equal measure.
Iron ore rivals BHP Billiton and Rio Tinto are united in their forecast more high-cost producers will leave the market, but have stopped short of predicting how Western Australia's higher-cost producers will fare over time.
Listed companies from Western Australia are on the outer in the most recent quarterly reshuffle of the S&P Dow Jones ASX Indices, with high-profile absentees including Iluka Resources, Mineral Resources and Monadelphous Group.
Independent schools across the state are benefiting from the experience some of Perth's most prominent business leaders have brought to their boards, providing greater diversity and structure to the decision-making process.
The falling price of iron ore is putting substantial pressure on local miners, particularly small and mid-sized players, but the price of the bulk commodity is still well above levels achieved just more than a decade ago.
BC Iron has announced it is working with Mineral Resources on potential new investments at the Iron Valley mining operation in the Pilbara, to improve its commercial viability.
