Mining

Diversified miner Independence Group has booked a $58.8 million net loss for the 2016 financial year, on the back of acquisition costs and lower commodity prices.

Higher revenue from gold and silver sales have helped Resolute Mining post a positive net profit result for the 2016 financial year.

Shares in civil and construction contractor Brierty tumbled after the company revealed a $50.4 million net loss.

Lower write-downs have helped Atlas Iron post a full-year net loss to $159 million, as the junior miner seeks to stay afloat amid weaker iron ore prices.

ASX-listed resources hopeful Lithium Australia has scored a $50,000 commercialisation grant from the federal government for a process the company has developed to process lithium.

Local gold and lithium explorer Berkut Minerals has enjoyed steady gains on its first day of trading on the ASX after completing a $3.5 million initial public offering.

Mining giant BHP Billiton says it was not aware that the tailings dam at its Samarco joint venture in Brazil was at risk of collapsing, despite a series of efforts over years to fix its structural defects.

Copper and gold miner Sandfire Resources has posted a softer profit result for the 2016 financial year on the back of lower copper prices, but was upbeat on the year ahead.

A Chinese company with a majority stake in world’s largest hard rock lithium mine will seek development assessment panel approval on Wednesday for a $300 million processing facility in Kwinana.

Civil contractor and mining services company SRG Limited says it is well positioned for further growth on the back of recent contract wins, after booking a 52 per cent lift in net profit in the 201

Pilbara Minerals has shortlisted three engineering consortia for construction of the processing infrastructure at its Pilgangoora lithium development, while also appointing Engenium to assist in delivery of the project.

Embattled mining services business McAleese Group has gone into voluntary administration after failing to secure a lifeline from Hong Kong-based debt trader SC Lowy.

Gold miner Saracen has more than doubled financial year net profit to $26 million on the back of higher gold production and a continuing strong local dollar gold price.

Perth-based Ausdrill has been named preferred proponent for a $300 million mining services contract at Toro Gold’s Mako project in West Africa.

A chemical plant making an ingredient for explosives in the Pilbara is an example of Western Australia’s economic diversity, according to Premier Colin Barnett, who predicted manufacturing would undergo growth in the state despite its years of lagging on the east coast.

A Federal Court ruling that was the first ever assessment of native title compensation in Australia is expected to lead to more claims by Aboriginal groups.

Perth-based Western Areas has dipped into the red with a full-year loss on the back of depressed nickel prices and write-downs.

Shares in mining services business Ausdrill surged on the company’s return to profitability and a bullish outlook on the year ahead.

Diversified miner South32 has slumped to a net loss of $US1.62 billion ($A2.13 billion) in its first full year as a listed company, after taking heavy write-downs in its manganese, coal and alumina operations to reflect the downfall in commodities prices.

Evolution Mining will pay Glencore $880 million in a deal to take an interest in the Ernest Henry copper and gold mine in Queensland.

Southern Cross Electrical Engineering has made a net profit for the 2016 financial year, turning itself around from last year's loss.

GR Engineering Services wrapped up the 2016 financial year with record revenue and increased profit, but says competition for design and construction opportunities remains high.

Perth-based Sheffield Resources has tapped investors for a $17.1 million capital raising to fund completion of a bankable feasibility study on its $271 million Thunderbird mineral sands project near Derby.

RCR Tomlinson says it has won $170 million worth of contracts for work across Australia, including at BHP Billiton’s operations in the Pilbara.

Rox Resources’ joint venture partner Teck Australia has voiced concern today with the company’s proposed sale of its stake in the Reward zinc-lead project to Marindi Metals, after competing bidder IM Medical said last week an exclusivity agreement had been breached.

Ventnor Resources has sold its stake in the Thaduna/Green Dragon copper project to joint venture partner Sandfire Resources.

Perth-based gold miner Troy Resources says it expects to record an $87 million impairment in its full-year accounts, with the majority of the charge attributed to the sale of its Casposo project in Argentina.

Perth-based contractor MACA is focusing on securing more work in the gold sector after reporting a slump in full-year profit.

Shares in engineering firm Monadelphous Group fell sharply today after it posted a 27 per cent slide in profit on the back of lower activity in the resources and energy sectors and predicted contracting margins would remain under pressure.

Local contractor Macmahon Holdings has returned to the black with a net profit of $1.7 million after a tough year in the mining sector.

Galaxy Resources has more than doubled the forecast profitability of its proposed Sal De Vida lithium mine, in an updated definitive feasibility statement released today.

Rio Tinto has announced the 50th anniversary of its first contracted iron ore shipment from the Pilbara, as debate continues around the adequacy of its royalty payments and the legacy for indigenous people in the region.