Mining

Explaurum has asked shareholders to accept an $8 million placement from Alkane Resources on the same day a report from independent expert BDO said a hostile takeover bid from Ramelius Resources undervalued the gold explorer.

Perth rich lister and Mineral Resources director Tim Roberts has bought a $29.6 million stake in the diversified mining company.

A state government report released today on Fifo mental health has prompted an immediate response, with the Chamber of Minerals and Energy of WA and mental health organisation Lifeline WA announcing a new partnership.

thyssenkrupp Industrial Solutions Australia will design and build the world’s largest rail-mounted stackers in Western Australia after winning a $250 million contract for BHP Group’s $4.6 billion South Flank iron ore project.

Valmec has secured $25 million worth of construction contracts, including at Mineral Resources’ Wodgina project, while fellow local contractor Weststar Industrial was awarded a $4 million contract at Rio Tinto’s West Angelas mine near Newman.

Verdant Minerals has entered into a non-binding agreement for a $160 million debt facility from the Northern Australia Infrastructure Fund, adding to a string of mining projects in recent months to reach a funding agreement with the fund.

Piedmont Lithium has tapped investors for $12.2 million to fund an expansion and upgrade at the company’s namesake project in the US state of North Carolina.

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.

Decmil has been awarded a $65 million contract extension with BHP Group for expansion works at the Mulla Mulla village in the Pilbara.

Shares in Norwest Minerals fell 10 per cent to close its first day of trading at 18 cents each, after the company raised $6.6 million via an initial public offering.

Eastern Goldfields has been placed into administration, a day after announcing its proposed $75 million recapitalisation plan had fallen through.

Andrew Forrest has made a $23 million share purchase in Fortescue Metals Group, confirming his position at the top of Business News’ director shareholdings list.

Perth-based gold exploration company Genesis Minerals has announced the appointment of mining executive and company director Tommy McKeith as chair.

Rio Tinto has approved a $3.5 billion investment to develop its Koodaideri iron ore mine in the Pilbara, lifting the total amount to be spent on new iron ore projects in Western Australia to $12 billion.

A recent deterioration in profits among China’s steel producers is boosting the prospects of lower-grade iron ore producers such as Fortescue Metals Group, with steelmakers expected to shift their focus to reducing costs rather than boosting volumes if margins continue to decline.

Opinion: Talk of lowering migration targets is small thinking that misses the opportunity.

Shares in Gascoyne Resources have fallen more than 12 per cent today, after the gold producer downgraded its production guidance for the second time in less than a month.

Eastern Goldfields is at risk of collapse, after the $75 million recapitalisation plan it announced in late September was scrapped today.

West African Resources has awarded a five-year, $152 million underground mining contract to fellow Perth-based miner Byrnecut at its Sanbrado gold project in Burkina Faso.

Rio Tinto has appointed former CSIRO chairman and 2011 Australian of the Year Simon McKeon as an independent non-executive director.

SPECIAL REPORT: Four prominent WA mining executives took big paydays in 2018.

SPECIAL REPORT: Asset sales and M&A action were the highlights of a busy year for WA's wealthiest.

Resolute Mining has announced plans to list on the London Stock Exchange, just a day after fellow Africa-focused miner MOD Resources was admitted to the LSE.

BHP Group has identified a new copper find near its Olympic Dam operations in South Australia, as speculation continues that Rio Tinto has also made a big copper discovery, in the Pilbara.

Resolute Mining has signed a joint development agreement with Africa-focused power developer Ignite Energy to set up a 40-megawatt hybrid solar, battery and fuel oil plant at its Syama gold mine in Mali.

Global miner Rio Tinto says it will sell its entire stake in Rossing Uranium to China National Uranium Corp for up to $106.5 million.

WestStar Industrial subsidiary Simpec has won a $1.7 million contract at Iluka Resources’ Cataby mineral sands project, located approximately 150 kilometres north of Perth.

David Southam has resigned as the executive director of Western Areas to succeed Peter Muccilli as the managing director of Mincor Resources.

Two separate reports from consultancies PwC and EY have flagged an uptick in mining costs as demand within the local resources industry continues to improve.

Lithium Australia has reported the manufacture of lithium-ion batteries generated directly from mine waste.

SPG Law, a British offshoot of a US litigator, represents 240,000 individuals in Brazil, 24 municipal governments, a Roman Catholic Archdiocese and members of the Krenak indigenous community, and has filed three legal claims for unlimited damages over the failure of the Fundao dam in 2015.