Fortescue Metals Group's cost cutting is delivering benefits to the iron ore miner, amid wild movements in the price of Australia's key export commodity.
Shares of Apple tumbled 4.3 per cent and Microsoft fell 3.7 per cent as disappointing earnings from the two technology titans weighed on the broader market.
Gold fell more than one per cent to a five year low as a bounce in the US dollar fueled downside momentum, with investors continuing to pull away from the metal after its dramatic slide earlier this week.
A nearly $50 million national research facility opened in Perth yesterday is set to further define Western Australia’s place in the world as a resources hub, but has its work cut out for it convincing the public of its benefits according to industry leaders.
Total sales recorded by REIWA member have fallen by 2% to 557 for the week ending 21 July 2015. This fall was due to land and house sales dropping with Units remaining strong.
After a prodigious drop in exploration spending during the past decade, miners and governments have unveiled a blueprint to kickstart greenfields programs.
The University of Western Australia is offering a new program to encourage and foster entrepreneurship among researchers and post-graduate research students.
Gold miner Silver Lake Resources plans to boost its exploration spending by 60 per cent in the current financial year on the back of a strong improvement in its current and forecast cash position.
Local oil and gas explorer 88 Energy has received firm commitments for a $12 million capital raising to fund ongoing work at its Icewine project in Alaska.
Southern Cross Electrical Engineering shares jumped nearly 13 per cent today to their highest price since March, after the company announced an annual loss but maintained its dividend and was cautiously positive about its outlook.
One of the state’s largest Aboriginal trusts is being forced to further tighten its belt as its royalties from Rio Tinto’s Yandi iron ore project continue to fall.
Changes to residential development guidelines – designed to ensure density is built in appropriate locations – have the potential to drive up the price of housing, put pressure on existing infrastr
In a move to expand its presence in the mining services market, BGC Contracting will be forming a joint venture with South African firm DRA, the two companies announced today.
The engineering arm of property and infrastructure group Lendlease has won a $96 million contract to build BHP Billiton’s new tug harbour at Hunt Point in Port Hedland.
An interest rate cut is still possible, but evidence of further economic weakness will not automatically trigger such a move, Reserve Bank of Australia governor Glenn Stevens warns.
BHP Billiton spin-off South32 will write down $US1.9 billion of its manganese and coal businesses after suspending capacity at its South African smelter.
BHP Billiton has beaten its full-year iron ore production guidance but has flagged a hit to its full-year profit of up to $US650 million ($A876 million) due to weakness in its copper business.
