The Kerry Stokes-backed BCI Minerals has agreed to co-fund further development of the Iron Valley mine in the Pilbara, as part of a package of deals that will see Mineral Resources buy its Buckland
Mineral Resources boss Chris Ellison has struck a deal with his brother Andrew Ellison's company to sell two of its non-core manganese assets while also providing project funding and mining services assistance.
Mineral Resources is focused on ramping-up its iron ore operations after a major restructuring last year of its lithium assets, with the company also declaring an increased dividend today.
Businesses are facing a challenge locking in gas contracts for major projects in Western Australia, including Coogee's planned $1 billion Burrup Peninsula methanol plant, which the company is now pursuing without partner Wesfarmers.
Ten years after paying a record WA price of $57.5 million for their Mosman Park property, mining magnate Chris Ellison and his wife Tia Ellison are planning to demolish the existing dwellings and build two new houses.
At least $1.6 billion of equity has been raised by WA-linked critical minerals hopefuls in the past five years, but achieving consistent returns is another battle.
About $300 million will be invested by Mineral Resources into expansion projects in the 2020 financial year, led by moves to boost Yilgarn iron ore output nearly 50 per cent.
The $600 million Wodgina lithium project is being placed on care and maintenance, after its ownership was transferred to a joint venture between US company Albemarle Corporation and local company Mineral Resources.
Mineral Resources has terminated a joint venture agreement with Hexagon Resources, while Independence Group bolstered its JV deal with Buxton Resources.
The number of long-serving chief executives at WA listed companies is shrinking rapidly. We look at recent retirements by several 'veteran' CEOs and a small group of individuals who have lasted more than 10 years.
Mineral Resources managing director Chris Ellison's base salary will be reduced by $300,000, as the miner's full-year net profit after tax slumped 39 per cent to $165 million.
A $1 billlion-plus lithium refinery planned for the Pilbara has been put on hold and a second refinery under construction in the South West has been reduced in size as local company Mineral Resources and its US partner restructure their joint venture after a sharp fall in lithium prices.
Mineral Resources has secured Chinese regulatory approval for its $US1.15 billion Wodgina stake sale, and was the best performer among the ASX 200 today, despite the miner also releasing weak quarterly results.
Shares in Mineral Resources fell sharply early today befor recovering some lost ground, after the company reported an interim net profit of $13 million, due in part to an unrealised loss on its stake in Pilbara Minerals.
SPECIAL REPORT: Three businessmen will have more impact than most on the state's economic future, with Peter Coleman leading an oil and gas revival, Chris Ellison building a lithium empire, and Rob Scott reshaping Wesfarmers.
SPECIAL REPORT: There can be wide differences between the statutory pay reported by listed companies and the ‘take home' pay of their senior executives.
SPECIAL REPORT: There has been a notable reduction in the number of high-earning executives in WA, though some individuals do well year after year, research by Business News has found.
Mineral Resources has struck a deal to sell a 50 per cent stake in its Wodgina lithium project for $US1.15 billion ($1.6 billion), with the company set to form a joint venture with US outfit Albemarle Corporation.
ANNIVERSARY SPECIAL: The annual Business News Biggest Employers survey has tracked changing employment patterns in WA over 13 years. This article is part of a special series to mark Business News' 25-year anniversary.
Mineral Resources has suffered a minor delay in the construction of its $610 million lithium concentrate processing plant at the Wodgina project in the Pilbara.
A strong run over the past month from listed companies Mineral Resources, Woodside Petroleum and Seven Group Holdings has helped push Business News' index of 30 local stocks to a record high this week.
Gina Rinehart's Hancock Prospecting has conditionally upped its takeover offer for Atlas Iron in a bid to win over Fortescue Metals Group, which holds a blocking stake.
Mineral Resources has continued to diversify its interests, taking a $2 million stake in West Perth-based Barra Resources, which is developing the Mt Thirsty cobalt project near Norseman.
Chris Ellison-led Mineral Resources has posted a big increase in profit to $272 million for the 2018 financial year, helped by a strong performance in the company's mining services division.
Mineral Resources and Brockman Mining have announced plans to jointly develop a major iron ore mine that will underpin construction of a new rail line and port facilities at Port Hedland.
Mineral Resources has struck a deal to purchase the Koolyanobbing iron ore mine from US-based Cleveland Cliffs, after getting support from the state government and railway owner Arc Infrastructure for a deal that will save up to 400 jobs around Southern Cross and Esperance.
Andrew Forrest-chaired Fortescue Metals Group has taken a surprise 19.9 per cent stake in Atlas Iron, and says it will block the $280 million takeover proposed by diversified mining services business Mineral Resources.
Shares in Galileo Mining, which is backed by Mark Creasy and Chris Ellison, have closed up strongly on their first day of trading after the company raised $15 million via an initial public offering.
Iron ore maganates Gina Rinehart and Andrew Forrest remain in the top 10 of the nation's wealthiest people, according to the 2018 AFR Rich List, which included 20 Western Australians out of 200 people listed this year.
Applecross-based Mineral Resources is looking to sell a 49 per cent stake in its Wodgina lithium project, as work to investigate the feasibility of a lithium hydroxide or carbonate processing plant at the site continues.
