Premier Colin Barnett says he can't see "a great deal of substance" in junior explorer Padbury Mining's claims it has secured a massive $US6.47 billion ($6.89 billion) funding deal to construct a port and rail network at Oakajee, as the company missed a self-imposed deadline to reveal its mystery backer.
Hours after announcing it had secured $US6.47 billion ($6.89 billion) in equity funding to construct a long-heralded port and rail network at Oakajee, junior explorer Padbury Mining has put its shares in a second trading halt in anticipation of revealing the identity of the investors.
Australian liquefied natural gas projects can continue to be competitive against new developments planned for the United States, Canada and east Africa, industry consultant RISC has found.
Two years after selling its stake in the failed Oakajee port and rail project, Murchison Metals is set to be absorbed by major shareholder Mercantile Investment Company.
Woodside Petroleum has inked a deal to supply about 1.5 million tonnes of liquefied natural gas over three years to Japanese utility Chubu Electric Power.
Apache Energy is set to farm-in to the Canning Basin, signing a $25 million agreement to earn a stake in oil and gas exploration permits held jointly by Buru Energy and Mitsubishi Corporation.
Shell Australia boss Andrew Smith has defended his company's decision to walk away from an onshore gas development at James Price Point at an at-times heated parliamentary committee inquiry.
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.
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.
Unconventional gas developments could ensure Western Australia's energy security and provide significant economic benefits within the decade, Mines and Petroleum Minister Bill Marmion says.
Western Australia has an abundance of gas and explorers are looking for more, both offshore and onshore, but there are questions over how much growth the industry can sustain.
Supporters of the Oakajee Port & Rail project were insisting today the ambitious development was not dead, after its owner Mitsubishi cut spending and two thirds of its staff were abolished.
Helix Resources has signed an agreement with Japan's Mitsubishi Materials Corporation for the development of the Joshua copper project in Chile that could be worth up to $19.5 million.
MID West iron ore projects have the potential to produce 67 million tonnes of iron ore per year, earning the state annualised royalties in the range of $42 million.
OAKAJEE Port and Rail and other sponsors are keen to grow opportunities for indigenous artists in the Mid West by building on the success of the Good Heart Mid West Aboriginal Art Exhibition.
FOUR major resource and infrastructure projects have reached notable milestones this week, signalling the positive outlook for the Western Australian economy.
Mitsubishi Corporation says recent press speculation claiming the Japanese conglomerate wants to pull out of building a new iron ore export port at Oakajee near Geraldton is "completely groundless".
