Iron ore explorer Gindalbie Metals has detailed a $586 million loss for the financial year, which was previously flagged on the back of a write-down of its 48 per cent stake in the Karara project.
Iron ore miner Gindalbie Metals has extended its finance facility for its Karara magnetite project in the Mid West by three years and an additional $US400 million ($428 million).
FEATURE: Having gained notoriety in the 1996 movie Jerry Maguire, the phrase ‘show me the money' will be heard often, and loudly, in business in Western Australia in coming years as capital inflows become capital outflows and funds become harder-than-ever to raise.
FEATURE: A stubbornly high dollar, falling prices and high operating costs are combining to exert real pressure on smaller players in the iron ore sector.
LandCorp has placed a 4.55-hectare parcel of industrial land near Geraldton on the market, in an effort to meet rising demand from businesses seeking large plots of land near the Mid West city.
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.
The owners of the Karara iron ore project have transfered Gindalbie Metals boss Dale Harris to a chief executive role at Karara Mining, in an apparent bid to bring the trouble-plagued project back on track.
Chinese steelmaker Ansteel has taken majority ownership of the Karara iron ore project, lifting its stake above that of Gindalbie Metals after converting shareholder loans to new equity in Karara Mining.
Michael Fotios, who made a fortune backing gold miner Northern Star Resources, is heading back to the stockmarket to tap into what he calls “a marked increase in investor interest over the last 3 months”.
Never has the KISS management principle (keep it simple, stupid) been better demonstrated than in the dreadful condition of Western Australia's mineral processing sector, where crisis is piling on crisis.
Northern Star Resources has been recognised for excellence in the resources sector, winning the fourth annual Craig Oliver award at the RIU Explorers Conference.
Maintenance and construction contractor AusGroup has returned to the black in the December quarter, with a tax credit offsetting the adverse impact of falling revenue.
Former Gindalbie Metals boss Garret Dixon has joined Watpac as a non-executive director, signaling the company's interest in building up the Perth-headquartered mining contracting division of its b
Iron ore miners in the Pilbara are on track to reach production and shipping targets, despite bad weather hampering operations and affecting some December quarter results.
After five years in the financial sin bin there is a flicker of hope on the horizon for Western Australia's magnetite iron ore processing industry, with Gindalbie Metals and Sino Iron in line for a revenue boost emanating from an unlikely source – China's polluted environment.
Gindalbie Metals has agreed to sell its Shine hematite iron prospect to Mount Gibson Iron for $15 million as it focuses attention on bringing its Karara magnetite project to full production.
Gindalbie Metals says it will continue to purchase iron ore from third parties to make up for a shortfall of concentrator production at its Karara mine, as the company warned shareholders it will need additional capital investment before it can reach capacity at its main magnetite project.
Gindalbie Metals has appointed former Rio Tinto executive Dale Harris as its new managing director to succeed the departing Tim Netscher on a package that is about half of what his predecessor received.
The past year has been tough for listed WA companies looking to raise funds but a lift in activity during the past three months has the industry cautiously optimistic.
Chinese steelmaker Ansteel is set to provide a further $US230 million injection of working capital into the Karara iron ore project in the Mid West, in a deal that would dilute Gindalbie Metals' stake in the project to as little as 38 per cent.
The $10 billion tragedy of Western Australia's failed magnetite iron ore processing experiment risks becoming something worse next year, as the price is pushed down by a flood of iron ore supply an
Gindalbie Metals shares slipped on the ASX today after the iron ore producer said it would need extra working capital to see out the end of the year, having run into more issues at its Karara proje
Karara Mining has promoted chief financial officer Paul Sims to the newly combined role of chief executive officer and CEO, following CEO Steve Murdoch's (pictured) resignation.
Gindalbie Metals has received an $84 million cash injection from its joint venture partner Ansteel, to cover its working capital requirements at the Karara iron ore mine in the Mid West.
Construction contractor AusGroup has taken legal action against Mid West iron ore miner Karara Mining, suing the joint venture today after securing an injunction in secret hearings yesterday to pre
If Colin Barnett were in the habit of taking advice, which he's not, then he would stop pushing hard for development of the Oakajee port near Geraldton – because Oakajee is a dead duck.
