Mining

Shares in Altura Mining, which is on the brink of lithium production, jumped this morning after the $770 million company confirmed it was in discussions with its largest shareholder in relation to a potential control transaction.

Tawana Resources has opened the state’s fifth lithium operation, with the ASX-listed company announcing today that production has started at its jointly owned Bald Hill project in the eastern Goldfields.

The Takeovers Panel has dismissed an application from Indonesian group Eastern Field Developments regarding its takeover target Finders Resources, with the panel determining that appropriate action has been taken by the company in relation to its Wetar project.

The state, which is not a big steel exporter but produces some of the key raw materials, could suffer collateral damage in a full trade war.

Gulf Manganese Corporation has secured a $15 million funding package, led by an Indonesian investment group, to complete construction of the company’s first two smelters at its Kupang smelting hub in West Timor.

Lithium explorer AVZ Minerals has signed a memorandum of understanding with a major Chinese battery producer for potential investment and offtake opportunities.

Image Resources has launched a $25 million capital raising that will contribute to the construction of its Boonanarring mineral sands project near Gingin, which is targeting production by the end of the year.

Peel Mining spin-out Saturn Metals began trading on the ASX today after the gold explorer raised $7 million through an initial public offering.

Core Drilling Services has secured a contract with BCI Minerals for a major drilling program planned at its Buckland iron ore project located in the Pilbara.

The Conservation Council of Western Australia and traditional owners are continuing their fight against Cameco’s planned Yeelirrie uranium mine, lodging an appeal against a Supreme Court decision to uphold the environmental approval.

A number of local mining companies have moved up the stock market rankings, with contractor Ausdrill included in the S&P ASX 200 index, while South32 has been admitted into the top 20 as part of the market’s quarterly rebalance.

Indonesian group Eastern Field Developments has increased its stake in Finders Resources as the major shareholder pursues a hostile takeover of the copper miner valued at around $177 million.

40under40: First Amongst Equals winner Raleigh Finlayson has drawn on his childhood experiences in WA’s outback to run one of the state’s biggest gold mining companies.

Gold hopeful Egan Street Resources has secured $11.9 million of funding via the exercise and underwriting of the company’s listed options, with the proceeds to be used at its Rothsay project.

Gold miner Northern Star Resources has agreed to purchase the South Kalgoorlie mine from Westgold Resources in a cash and scrip deal worth $80 million.

Saracen Mineral Holdings managing director Raleigh Finlayson has received the top honour at Business News’ 2018 40under40 awards, named First Amongst Equals ahead of a diverse field of Western Australia’s young business and community leaders.

ANALYSIS: From ride-sharing to mining, WA should embrace opportunities flowing from digital disruption.

Gina Rinehart's four children have joined their mining mogul mother among the world's richest people, with nine Western Australians included in Forbes' latest world billionaire rankings.

Rio Tinto has announced it will expand its autonomous haul truck fleet to a fifth site in the Pilbara, with the iron ore miner set to add 15 driverless trucks at the West Angelas mine in May.

Investors are warming to the concept of gold mining in the Wheatbelt, with share prices of three active players moving higher in recent weeks.

The CFMEU is about to get another 'M' after the Fair Work Commission approved a merger of three of Australia's most prominent unions.

Copper explorer MOD Resources has tapped investors for $18.3 million, with the proceeds set to be used on exploration work at its T3 and T20 Dome projects in Botswana.

Australia’s corporate watchdog has commenced legal proceedings against Rio Tinto and two former executives over its disastrous $US4 billion foray into Mozambique coal, 17 months after regulators in the UK and US took action on the same matter.

Lithium Australia has secured an $18.2 million funding package from US institutional investor Arena Investors LP via a multi-tranche convertible note facility, with the proceeds to be spent on developing a lithium processing pilot plant.

Finders Resources’ largest shareholder, Eastern Field Developments, which is currently making a hostile takeover bid for the copper miner, has submitted an application to the Takeovers Panel requesting the company disclose details regarding its Wetar project and revise the independent expert report.

The managing director of Rio Tinto’s Pilbara iron ore mining operations has left the company after 11 years.

Talison Lithium has engaged MSP Engineering to conduct a feasibility study into another expansion at its Greenbushes project while a $320 million upgrade, set to double production, is already under way.

Melbourne-based explosives manufacturer Orica has secured supply contracts in the Pilbara with BHP Billiton and Roy Hill, but expects operational issues and write-downs to cut its first-half earnings by nearly $400 million.

West Perth-based Vimy Resources has acquired a uranium project in the Northern Territory from Canadian miner Cameco for $6.5 million.

Decmil Group has launched a major board restructure that includes the retirement of company founder Denis Criddle, as it posted an interim loss but pointed to strong revenue growth in the coming year.

South Korean steel giant POSCO has signed a long-term offtake agreement with ASX-listed lithium miner Pilbara Minerals and agreed to invest in its upcoming project in Western Australia.

Heavy equipment supplier Emeco Holdings has recorded its first period of net profit since 2013 as the company cited improving market conditions as a key driver of increased earnings.