Mining

One-time WA iron ore miner Moly Mines, which was delisted from the ASX early this year with nearly 4,000 shareholders and $63 million in the bank, has struck a deal to buy copper stock Queensland Mining Corporation.

Mineral Resources has disclosed that its planned lithium processing projects in the Pilbara will cost in excess of $600 million to build, with managing director Chris Ellison also revealing ambitions for more downstream processing projects.

National Australia Bank says it will stop lending for new thermal coal mining projects, becoming the first major Australian bank to phase out support for the sector.

Perth-based CITIC Pacific Mining has hit its 2017 production target of 15 million tonnes of magnetite concentrate at its Sino Iron project in the Pilbara, while also releasing a study that shows spending of $51 billion in Western Australia over the next 40 years.

Listed company Mineral Commodities has signed a memorandum of understanding to assess the use of Doral's fused alumina plant in Kwinana for downstream processing of natural flake graphite from its proposed mine in WA's great southern region.

Pilbara Minerals has announced multiple changes to its Pilgangoora lithium project, with the company planning to: spend an extra $50 million on development; export unprocessed ore to boost early cash flow; and outsource ore crushing to Mineral Resources.

Plymouth Minerals has tapped investors for $6.5 million through a strongly supported share placement to develop its San Jose lithium project in Spain.

Iluka Resources has approved its $275 million Cataby mineral sands project, which is set to provide 250 construction jobs, after securing offtake agreements for 85 per cent of production from the deposit.

The latest insolvency statistics indicate that the mining industry shake-out is slowing, with a significant decline in insolvencies in recent months for the industry compared with 2016.

A joint venture between Njamal Services and Pilbara Resource Group has secured a 12-month labour contract with BGC Contracting at the Mt Webber iron ore mine in the Pilbara.

Aspiring minerals sands miner Sheffield Resources has signed an offtake agreement with a Chinese processor for more than half the zircon concentrate produced at its planned $348 million Thunderbird project near Derby.

Finders Resources has received the backing of some high-profile Perth investors in its opposition to a hostile takeover offer, with Euroz’s Tim Lyons, billionaire Ralph Sarich and Brettney Fogarty among a list of shareholders to have indicated they will not accept the 23-cents-a-share bid.

A joint venture between engineering groups Downer and Ausenco has secured an engineering, procurement and construction contract for OZ Minerals' Carrapateena copper gold project in South Australia.

The Environmental Protection Authority has recommended conditional approval for Tellus Holdings to develop a clay mine and waste storage facility at its proposed Sandy Ridge project in the Goldfields.

The environmental watchdog has given the green light for BHP Billiton’s planned 80 million tonnes per annum South Flank iron ore development, with first ore targeted in 2021.

BGC Contracting announced today that it has been awarded two contracts with mining giant BHP Billiton at its Pilbara iron ore facilities.

Belmont-based Zenith Energy has signed a power purchase agreement to build a 15-megawatt power station at Gascoyne Resources’ Dalgaranga gold project.

The joint owners of the Tropicana gold mine have approved spending of $48 million to underpin a new mining strategy that will see waste material from new pits tipped back into the original open pit mine, delivering increased production and a longer mine life.

Finders Resources’ second-largest largest shareholder, Taurus Funds Management, has rejected a 23-cents-a-share bid for the copper miner by Indonesian group Eastern Field Developments.

Byrnecut executive chairman Steve Coughlan has slammed the state government’s decision to crack down on payroll tax exemptions, saying his company will no longer receive the exemption for courses being undertaken by 1,200 employees.

West Perth-based Gascoyne Resources has secured a $60 million debt facility with two major Australian banks as it aims for its Dalgaranga gold project to be in production in mid-2018.

Dutch company KOTUG and local subcontractor Westug have been selected to provide towage services for Fortescue Metals Group at Port Hedland, 18 months after the iron ore miner won a tender that broke BHP Billiton’s monopoly at the port.

Incitec Pivot has warned that its 2020 and 2021 full-year profits will be hit by the end of a contract to supply ammonium nitrate prill to mining giant BHP Billiton.

Aspiring gold miner KIN Mining has signed a binding term sheet for a $35 million debt package with Canada-based Sprott Private Resource Lending.

Shares in junior lithium explorers MetalsTech and Force Commodities have spiked after the companies announced funding and joint venture agreements, while European Lithium will tap investors to progress its lithium project in Austria.

Finders Resources has urged its shareholders to reject a takeover bid from Indonesian group Eastern Field Developments after independent expert Deloitte valued the copper miner well above the 23 cents offer price, despite Finders’ share price continuing to hover near that mark.

Fortescue Metals Group will appeal the Federal Court ruling granting exclusive rights to the Yindjibarndi people over Pilbara land where the company operates its Solomon hub, three weeks after the state government welcomed the decision.

Mineral Resources founder Chris Ellison has raised $36.9 million from the sale of some of his shares in the mining services group, adding to a string of big share sales by WA company directors who have cashed in on strong market rallies.

Mining giant Rio Tinto has appointed former Anglo-American Plc executive Simon Thompson as its new chairman to succeed incumbent Jan du Plessis.

European Cobalt will raise $20 million through a share placement as the junior miner advances exploration work at its Dobsina copper, nickel, cobalt project in central Slovakia.

Elizabeth Gaines’ selection last week as the incoming chief executive of Fortescue Metals Group has shot her to the top of a very short list of genuinely powerful women in business in Western Australia. Click through to read more and see our listing of 12 leading WA women in business.

Shareholders in uranium miner Paladin Energy will end up owning just 2 per cent of the company under a recapitalisation plan that will include a major debt for equity swap and a $US115 million high yield secured note raising.