Mining

Western Australia continues to evolve into a globally significant energy metals province, with Pilbara Minerals securing funding to support a second stage of its Pilgangoora lithium mine in the north of the state, while US chemicals giant Albemarle Corporation has begun work on its $1 billion lithium hydroxide facility near Bunbury.

The state government’s Koolyanobbing mine bail out will cost $182 million, according to budget details released today.

A pre-feasibility study released today by Peter Bradford-led Independence Group has confirmed the viability of an underground mine at the Tropicana gold project.

Woodside Petroleum’s Browse and Scarborough LNG developments are the biggest of $95 billion of major projects under way or likely in Western Australia, with 96 ongoing and a further 68 probable.

The board of Explaurum has backed a revised takeover offer from Mark Zeptner-led Ramelius Resources for the gold explorer.

Private equity investor Potentia Capital has acquired a majority stake in Nedlands-based Micromine, eight months after the mining software developer hired PwC to find a new owner.

WestStar Industrial has won a $4.5 million contract with Rio Tinto for works at the Cape Lambert port facility, taking the local contractor’s order book to $30 million.

The state government has selected former Rio Tinto boss and current Mitsui & Co director Sam Walsh as the new chair of Perth Mint operator Gold Corporation.

BHP is handing back the last of the $US5.2 billion from the sale of its onshore US assets through a special dividend.

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Subiaco-based Birimian has announced plans to raise $8.2 million for its Goulamina project in Mali, while the lithium aspirant also flagged a business review and two separate agreements with Chinese companies.

A revised feasibility study released by Explaurum has detailed a reduced capital cost of $111 million for its Tampia project in the Wheatbelt, as Ramelius Resources increased its stake in the gold explorer to 20 per cent.

Gold aspirant Capricorn Metals has locked in a $107 million debt package, while Subiaco-based TNG has appointed a German bank to lead a $US600 million ($850 million) debt raising.

Ramelius Resources has revised its hostile takeover offer for gold-focused Explaurum, adding a 2 cents per share sweetener to its original deal.

Diversified family business CFC Group has registered a big jump in profit for the 2018 financial year, aided by strong performances across its three primary operations.

MACA has been awarded a $28 million contract for work at Adaman Resources’ Kirkalocka gold project near Mt Magnet.

Alumina producer Alcoa of Australia has signed three supply deals with BHP Group, Woodside Petroleum and Chevron to provide about 23 petajoules of gas between them annually from 2020 for its Western Australian refineries.

WestStar Industrial has secured an $8 million contract for construction work at Tianqi Lithium’s Kwinana processing plant.

Local gold explorers Intermin Resources and MacPhersons Resources have announced plans for a $62 million merger to form Horizon Minerals, which will hold significant assets in the Kalgoorlie region.

Resources veteran Ian Burston has called time on his career at the age of 83, after retiring as chairman of iron ore-focused Kogi Iron.

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The $6 billion Balla Balla infrastructure project has experienced two setbacks, with the deadline for meeting its obligations under a State Agreement extended by 18 months and recent exploration work failing to live up to promise.

Kidman Resources has reached a settlement with parties in relation to a minimum expenditure obligation for a series of tenements at its Mt Holland project near Southern Cross.

Sheffield Resources has announced plans to raise up to $19 million, enabling the company to formally evaluate potential strategic partners for its Thunderbird mineral sands project in the Kimberley.

Pindan has been awarded a $45 million contract to build a 780-room construction camp at Rio Tinto’s $3.5 billion Koodaideri project in the Pilbara.

Peter Bradford-led Independence Group has taken a $4 million stake in junior explorer Buxton Resources.

Westgold Resources has tapped investors for $23.4 million, while also announcing the sale of its lithium royalties at Mt Marion and Buldania for $15 million.

Gold miner Tribune Resources has purchased Singapore-based explorer Prometheus Developments in a deal worth $30.3 million.

Gold Road Resources has increased the forecast annual output for its half-owned $621 million Gruyere gold project, while confirming first production remains on track for mid-2019.

Three local exploration companies have tapped investors for up to $60 million, led by a $48.2 million capital raising from West African Resources for its Sanbrado gold project in Burkina Faso.

Echo Resources has signed a letter of intent to award two mining contracts to MACA for its Yandal gold project near Leinster, while also announcing a $6.5 million capital raising backed by major shareholder Northern Star Resources.