Strong gold prices and higher production levels have helped lift revenue at gold miners Saracen Mineral Holdings and Regis Resources, with Saracen’s net profit up 22 per cent to $92.5 million.
Mining technology supplier Imdex has announced the forthcoming retirement of its managing director Bernie Ridgeway after delivering record revenue and higher earnings for the 2019 financial year.
Mid-tier goldminer Saracen Minerals Holdings has reported record full-year profit of $92.5 million, up 22 per cent from the previous financial year, while Regis Resources reported a profit decrease.
Gold explorer Orecorp is raising $13.3 million from an institutional share placement to fund its move to full ownership of the Nyanzaga gold project in Tanzania.
Ora Banda Mining, formerly known as Eastern Goldfields, has continued its revival after gaining commitments to raise $18.5 million through a share placement.
Newcrest Mining has posted a 22.2 per cent increase in annual profit, buoyed by robust gold and copper sales volumes from its flagship Cadia mine in NSW, while its Western Australian Telfer project also performed well.
Northern Minerals is set to raise $20 million via a private placement, the latest in a string of significant capital raisings the rare earths hopeful has undertaken this year.
Millennium Minerals has appointed Warren Hallam as managing director, marking Mr Hallam’s return as the leader of a junior miner since his short-lived stint at Capricorn Metals ended abruptly in March.
Shares in Castle Minerals have risen by as much as 150 per cent today, after the junior gold explorer signed a $US11.7 million ($17.2 million) farm-out agreement for two of its licences in Ghana.
Civmec has announced $120 million of new work, led by a contract to build and instal the primary crushing and ore processing facility at Fortescue Metals Group’s Eliwana iron ore mine.
ANALYSIS: An $A record gold price has the sector abuzz, while the sharp correction in iron ore prices will expose the looming reliance on WA’s vast deposits of low-grade ore.
Monadelphous has secured a $60 million contract for work on Rio Tinto’s Pilbara rail network, the latest of a string major contracts it has received from the mining giant.
Twelve big companies have pledged to lift their indigenous procurement to 3 per cent of their annual spend, seeking to match targets the federal and state governments have already set for their own agencies.
PCF Capital has struck a joint venture deal with Zhaojin International Mining, as the Hong Kong-based company looks to invest in the Australian gold sector.
Altrad Services has become one of the largest contractors in Western Australia after the privately owned French group merged and rebranded its Cape Australia and Hertel businesses.
Galaxy Resources said it expects to record a non-cash impairment charge of between $US150 million ($222 million) and $US185 million ($274 million) for the first half of 2019, reinforcing the current bleak conditions in the lithium sector.
Shares in Australia's big three iron ore miners have broadly stabilised today after suffering big falls in recent trading sessions, in line with a dramatic collapse in the iron ore price, which is down more than $US23 per tonne since its peak last month.
Macmahon Holdings and Newcrest Mining are heading towards a legal battle, after talks over a mining services contract dispute at the Telfer gold mine fell through.
Ausdrill subsidiary African Mining Services has been selected as preferred open-pit mining contractor for West African Resources' Sanbrado gold project in Burkina Faso.
Lynas Corporation's licence to operate a rare earths processing plant in Malaysia appears set to be extended, though it could be for a shorter duration than the usual three years, two sources with direct knowledge of the matter say.
Claremont-based Arrow Minerals and Subiaco-based Dreadnought Resources could soon be embroiled in a legal battle, after Arrow raised issues with Dreadnought’s acquisition of the Illaara gold project from Newmont Mining.
Monadelphous has announced about $150 million of new contracts in Western Australia and Queensland, less than a week after it won a big contract on Rio Tinto's West Angelas iron ore mine in the Pilbara.
Mining project approval delays will be the target of a one-year Productivity Commission review looking at how to streamline regulation across Australia's resources sector.
WA-based juniors Titan Minerals, Coziron Resources, Galan Lithium, Anglo Australian Resources, and Big River Gold have announced share placement activity on the ASX today.
The entire board of Redbank Copper has been spilled and replaced today after the company’s largest shareholder, Wyllie Group, requested the motion just over a month after chairman Michael Fotios was declared bankrupt.
