Staff Reporters

Litigation fund IMF Australia has secured a confidential settlement in the legal action against Quantum Securities and QBE Insurance in relation to the collapse of property developer Westpoint.

Matrix Composites & Engineering has announced it has recorded an $18.2 million net profit after tax for the 2010 financial year.

A Chinese miner has take a majority 51 per cent share in Northern Uranium.

West Perth-based Chalice Gold has announced plans to raise $12.6 million through a rights issue to existing shareholders which will be used to fund its gold project in East Africa.

Children's charity The Smith Family has welcomed Federal Labor's commitment to the not-for-profit sector.

The state government has committed $10.5 million to upgrade facilities at Barbagallo Raceway in an effort to bring the V8 Supercars Championship back to Perth for the next five years.

Iron Ore Holdings much vaunted alliance with Rio Tinto, trumpeted as an example of big miners supporting junior iron ore companies in the Pilbara, has come to nought, with the two companies terminating a sales agreement.

Mineral Resources has substantially bolstered its balance sheet this week, obtaining a $30 million capital injection from Gina Rinehart's Hancock Prospecting one day after finalising a deal to extract itself from the costly Windimurra Vanadium project.

Perth-based Beadell Resources has settled a long standing multi-million dollar claim relating to an alleged environmental disturbance of the William Creek system in Brazil.

Mines Minister Norman Moore has rejected calls for a full-scale inquiry into mine safety following the death of a miner in the Goldfields yesterday.

Melbourne-based Big Sky Financial Solutions (BSFS) has acquired Perth firm Westwide Financial Services.

Apex Minerals has successfully completed a $5 million capital raising through a share placement to institutional and sophisticated investors to fund operational improvements at its Wiluna gold project.

The state government says the Perth Convention Bureau has delivered a $93 million business events boost to the state's economy.

Atlantic has announced a complex series of deals worth more than $76 million to buy Mineral Resources out of the Windimurra Vanadium project and acquire the mothballed project's beneficiation plant.

Gloucester Coal has announced that it has raised $434 million through a share offer to institutional investors.

Paladin Energy has signed a wide ranging Memorandum of Understanding (MOU) with Chinese based CGNPC Uranium Resources setting up a framework of co-operation for long term sales of uranium.

Shares in Kalgoorlie-focused explorer Lawson Gold have commenced trading on the Australian Securities Exchange after it successfully completed a $4.7 million initial public offering (IPO).

Perth-based Amcom Telecommunications has recorded a net profit after tax of $17.2 million for the 2010 financial year.

Bristow Helicopters Australia has been awarded a contract worth $50 million to support Apache Energy's drilling and production operations in WA.

Shares in Downer EDI gained almost four per cent after the engineering firm said it won a six-year contract worth $3 billion to provide mining services to Fortescue Metals Group.

The director of one of the UK's largest and oldest arts festivals, Jonathan Holloway, has been appointed to take over as artistic director of the Perth International Arts Festival from 2012.

Solco has announced an exclusive supply deal with Chinese solar company Astronergy to distribute Astronergy's solar modules throughout Australia and much of the Oceanic region.

Grand Gulf Energy, previously Alto Energy, has announced it is proceeding with a $7 million capital raising to fund an expanded drilling program.

Continental Coal has announced a US$35 million deal to acquire a majority stake in South African coal company Mashala Resources.

Small to medium-size businesses will start to receive the state government's one-off $100 million payroll tax rebate this week.

Shares in Perth-based Apex Minerals have been placed in a trading halt ahead of an announcement relating to a $5 million capital raising.

Litigation fund IMF (Australia) has agreed to fund claims on behalf of current and former branch owners of the Bank of Queensland.

Channel 10 has agreed to broadcast the Hopman Cup after the ABC decided it would no longer show the tournament earlier this year.

An annual survey by Consult Australia has warned that engineering skills shortages will continue to constrain Australia's growth and limit innovation.

West Perth-based Automotive Holdings Group has purchased land at Castle Hill in Sydney's north-west for $24.5 million where it expects to develop a new dealership.

The state government has announced up to 75 staff at the Forest Products Commission are to be offered voluntary redundancies as part of a restructure plan, following big losses at the forestry agency.

Pro-Pac Packaging has announced it's expanding into Western Australia with the acquisition of Goodman Packaging.