Engineering and contracting group Downer EDI has trimmed its full-year profit guidance after posting a nearly 24 per cent drop in first-half profit, with one of the few positives being increased work on oil and gas projects in Western Australia.
Soon-to-be renamed Malagasy Minerals has welcomed Regis Resources as a substantial shareholder as the company completes its acquisition of the Karlawinda gold project near Newman, while also announcing the appointment of local gold mining executives to its board.
Programmed Maintenance Services has flagged a $75 million impairment resulting from poor performance in its marine services division, but expects to lift earnings to over $100 million by FY17 as it benefits from growth in other sectors of the economy.
BHP Billiton spin-off South32 will slash 620 jobs in Africa and has warned of widespread job losses in Australia after revising down its commodity price forecasts.
Deals and capital raisings in the mining and metals sector fell in 2015, according to EY, although asset sales from distressed parties coming onto the market could lead to an uptick in volumes in the year ahead.
Neometals shares have closed more than 9 per cent higher on news its Mt Marion joint venture partner Jiangxi Ganfeng has exercised its option to acquire an additional 18 per cent in the lithium project for $US27 million.
The long-running saga of the Windimurra vanadium project has taken a new turn, with listed company Atlantic pitching a low-ball offer to buy the $560 million development from one of its own subsidiaries.
Mining contractor Byrnecut has won a contract to expand OZ Minerals’ Prominent Hill copper-gold project in South Australia, with the work expected to cost about $12 million.
Former oil and gas explorer Emerald Resources has confirmed plans to transition to the gold sector, announcing today a joint venture deal to earn-in to Renaissance Minerals’ Cambodian gold project.
Ratings agency Standard & Poor's could force BHP Billiton's hand on its controversial dividend policy after lowering the resources giant's credit rating by a notch and putting it on negative watch.
WA is one of the world’s largest producers of lithium, but a plan to diversify from mining into advanced manufacturing opportunities will be tricky to shore up.
Fortescue Metals Group reduced cash production costs around 45 per cent in the 12 months to the December quarter and has plans to further buy back debt in the months ahead, chief executive Nev Power said today.
A joint venture between mining services companies Ausdrill and Barminco has been named the preferred contractor for work at AngloGold Ashanti’s Geita gold mine in Tanzania, with the deal worth about $US70 million ($A99.5 million).
Southern Cross Electrical Engineering has flagged its return to the black, saying it expects to report a $3.5 million first-half profit and remain profitable throughout the financial year.
The Samarco mine in the southeastern city of Mariana, where last November a huge toxic waste spill caused Brazil's worst environmental disaster, has had a new spill although no victims have been reported, the company says.
VDM Group has finalised terms for an $18 million loan facility with its largest shareholder to fund an investment in a copper project located in the Republic of Angola.
Gold miner Evolution Mining has lifted its full-year production guidance after strong output from recently acquired mines took production to record levels.
Panoramic Resources and Mincor Resources have announced plans to put their last operating mines on care and maintenance in response to the depressed nickel market, with Panoramic cutting 50 jobs today with more to follow at both companies.
West Perth-based Shaw River Manganese has become the third manganese miner to announce fallout from depressed ore prices, with the company entering voluntary administration this morning.
Up to 380 employees will be made redundant when Perth-based manganese miner Consolidated Minerals puts its Woodie Woodie mine in the Pilbara on care and maintenance next month.
BHP Billiton spin-off South32 has slashed its debt and sharply cut costs as it races to stay ahead of weaker earnings amid a slump in commodities prices.
Perth-based contractor AusGroup has recruited former Southern Cross Electrical Engineering boss Simon High as chief executive of its engineering services arm.
Gold and nickel miner Independence Group plans to make about 40 employees redundant after announcing it would cut exploration spending by $20 million in response to weak base metals prices.
