Western Areas will have the right of first refusal over Kagara's Lounge Lizard nickel project after it struck a multi-million dollar deal to grant the latter company access.
West Perth-based miner Kagara has revised down its annual zinc production target as it restarts trucking operations after heavy rainfalls in Queensland.
Falling commodity prices during the December quarter has increased the payback amount by Kagara to its offtake partners as the miner delivers another period of record copper production.
West Perth-based miner Kagara has been granted an extension to its $100 million facility by the National Australia Bank while Westpac has provided a $50 million facility.
West Perth-based miner Kagara Ltd expects to save some $70 million this financial year as it releases details from its review of operations and expenditure following a plunge in commodity prices.
Falls in commodity prices and rapidly changing market conditions have prompted two Perth miners, Minara Resources Ltd and Kagara Ltd, to explore cost cutting measures.
A fall in commodity prices and a rising Australian dollar have cut West Perth-based Kagara Ltd's earnings in fiscal 2008 by 28 per cent despite achieving record copper production over the year.
West Perth-based miner Kagara Ltd has expanded its resource portfolio after agreeing to pay $6.5 million plus royalties to Glengarry Resources Ltd for the Maitland copper deposit in Queensland.
AFTER almost five years Western Australia's Kagara Zinc has
completed the purchase of the Admiral Bay zinc-lead deposit, located 140
kilometres south of Broome.
