Mining

Millennium Minerals has boasted better-than-expected gold production at its Nullagine project, with costs in-line with previous targets.

Panoramic Resources has today confirmed plans for a spin-out of its Gum Creek gold project into a new ASX-listed company, while Metals X is considering the possible sale of its Rover gold project.

SPECIAL REPORT: The dramatic rise and fall of iron ore producers and the recent surge in gold and lithium stocks have been highlighted by a historic review of WA’s major listed companies.

A ramp-up of iron ore exports has lifted annual throughput at Port Hedland to a new record of 460.4 million tonnes, with the combined Pilbara Ports Authority tracking for a figure of 633.5mt per year.

SPECIAL REPORT: Mining stocks are again leading the way in shareholder returns, but this time it’s not the iron ore players doing the business.

Perth-based explorer Geopacific Resources has entered into an agreement to farm-in to Kula Gold’s Woodlark Island gold project in Papua New Guinea, in a deal worth up to $18.6 million.

Shares in Tawana Resources were up 84 per cent today as the company moved focus from iron ore to lithium, while three more Western Australian companies announced new moves in the lithium sector as keen market interest in the metal continues.

Local resources company GWR Group has backed out of plans to provide about $1.6 million to Excelsior Gold through a share placement.

Gold hopeful Cardinal Resources has rattled the tin for $21.7 million to fund ongoing work at its Namdini project in Ghana.

Perth-based GR Engineering Services has won a $36 million contract to design and build a processing facility in Queensland for private equity-backed Auctus Resources. 

A government body has slashed its 2017 iron ore price forecast by nearly 20 per cent on expectations of slowing demand growth in an oversupplied market, underlining the threat to the federal government's finances.

Perth-based gold producer Silver Lake Resources is bullish after hitting its annual sales target and repaying all its bank debt.

Copper and gold miner Sandfire Resources has announced record production at its flagship DeGrussa mine near Meekatharra.

Local explorers Hot Chili and Orinoco Gold have raised a combined $9 million from investors to fund ongoing work at their respective projects.

Rio Tinto's decision to shelve development plans for its $US20 billion Simandou iron ore project in Guinea could risk the project falling into the hands of a Chinese competitor.

Andrew Forrest has lost his battle to stop Yarri Mining from being granted mining tenements on land near the mining magnate’s Minderoo cattle station in the Pilbara.

Spanish contractor Duro Felguera has suspended ongoing obligations to Samsung C&T, after the Roy Hill project head contractor refused to pay out on five recent court adjudications.

Local gold miners Resolute Mining, Saracen Mineral Holdings and Ramelius Resources have hit their production targets for FY16 at lower-than-expected costs.

Local explorer Bass Metals has restructured its management team after acquiring a graphite mine in Madagascar and kicking off a $5.5 million capital raising.

Perth-based explorer Burey Gold has tapped investors for an $11.6 million placement to fund ongoing development of its Giro project in Africa.

Western Australia’s largest indigenous contractor has elected a new chairman and confirmed plans to lift both Aboriginal ownership and Aboriginal participation on its board.

Slightly more than 1,000 Western Australian companies had external administrators appointed in the 12 months to May this year, an increase of 29 per cent on the previous period, according to the latest numbers from the Australian Bureau of Statistics.

Lithium hopeful Pilbara Minerals has scored an $18 million equity injection, offtake agreement and downstream processing deal with an unnamed Chinese company.

A corporate finance firm and a private gold company have put forward competing proposals to recapitalise troubled graphite explorer Triton Minerals.

The local arm of Watpac has won a $45 million contract extension to continue providing mining services to Ramelius Resources’ Mt Magnet gold mine.

BHP Billiton will appeal against the decision by a Brazilian court to reinstate a $8.4 billion public civil claim over last year's deadly Samarco mine disaster.

Western Australian companies have outperformed the broader stock market over the six months to June 30, judging by the performance of Business News' BN30 index.

Mineral Resources has bolstered its new relationship with Empire Oil & Gas, offering a $15.1 million facility to replace a previous deal with Viburnum Capital.

Amid a few bright spots on the earnings front, the WA economy’s rebound is being thwarted by still-low global prices for iron ore.

Resolute Mining will develop underground at its majority-owned Syama gold mine in Mali after confirming a $US95 million ($A128 million) capex.

Justin Mannolini has taken over as chairman of local minerals explorer Jindalee Resources, less than two months after leaving his executive role at Macquarie Capital.

Australian resources company Alumina has reiterated its claims over its joint venture with Alcoa, a day after the US aluminium giant filed a plan with US regulators for the spin-off of its global upstream business.