Mining

Local gold explorer Echo Resources has received firm commitments for a $3.23 million capital raising to fund ongoing work at its Julius project in the Goldfields.

BC Iron managing director Morgan Ball is stepping down from the junior iron ore company, to be replaced by one of Kerry Stokes top executives.

Loss-making engineering services company Ausgroup has breached a key financial covenant after its total equity fell below $160 million.

The return of gold mining as Western Australia’s fastest-growing industry is becoming more interesting, with a near-record price for the metal in Australian dollars triggering increased exploration and a pair of possible mine developments in the Wheatbelt.

Employment prospects for geoscientists in Australia have hit fresh lows, with new figures revealing nearly one in five is out of work.

Local gold miner Doray Minerals is seeking to expand its exploration portfolio through a $10 million joint venture deal with Rox Resources.

In the first of a series of interviews with top WA business figures for Business News, Leadership WA chief executive officer Robin McClellan spent 10 minutes with Rio Tinto chief executive, iron ore, Andrew Harding, who said he looked to hire smart, reflective and curious people, and revealed mindfulness meditation had helped him be a better leader.

Subiaco-based Lithex Resources will make a second attempt at a backdoor listing, announcing plans to acquire an Israel-based battery technology company in a deal worth $28.7 million.

Shares in North Fremantle-based Kingston Resources have surged on news the company plans to raise $6.8 million to fund the purchase and exploration of several lithium tenements in Western Australia and the Northern Territory.

Gold has fallen as a strengthening US dollar prompted some buyers to cash in gains after its biggest daily rise this month, briefly paring losses after downbeat US jobs data.

The state budget assumes iron ore prices will average about $US47.70 a tonne in the coming financial year, substantially higher that what most forecasters have been tipping, and also includes a $41 million royalty concession for magnetite producers.

Junior gold miners Dynasty Resources and Orinoco Gold have announced plans to raise a combined $2.6 million to fund ongoing work at their respective projects.

Subiaco-based Paynes Find Gold is seeking to become a lithium miner through the reverse takeover and backdoor listing of a European mining company backed by local businessman Tony Sage.

BHP Billiton boss Andrew Mackenzie is confident that the resources behemoth can boost its value by more than 70 per cent, even without a significant recovery in commodity prices.

Local explorer IMX Resources is back on track to spin-off its graphite portfolio into a new ASX-listed entity, after addressing concerns raised by the corporate watchdog.

Local gold companies Azumah Resources and KIN Mining have released updates on their respective projects, with Azumah slashing the capital cost of its Wa gold project in Ghana by $US54 million ($A73 million).

Pilbara-focused Flinders Mines has recommended its shareholders accept an improved takeover offer from private New Zealand company Todd Corporation that values the target at about $74 million.

Swiss commodities multinational Glencore has taken an 8.5 per cent stake in battling iron ore miner Atlas Iron through subsidiary Maru Sky.

SPECIAL REPORT: There’s no doubt the boom has come to an end, but plenty of opportunities and projects remain in play.

Billionaire Gina Rinehart has appointed a new executive director and a new chief executive at Hancock Prospecting and foreshadowed plans to recruit additional senior executives to run its commercial and agribusiness operations.

WA business leaders have bemoaned the state government’s failure to plan for life beyond the mining construction boom, but still see opportunities in other sectors.

BHP Billiton shares have stemmed their slide after Brazil's federal court ratified a settlement reached with the country's authorities over a deadly dam spill.

Junior explorers Coventry Resources, Metals of Africa and Consolidated Zinc have tapped investors to raise a combined $13.7 million to fund ongoing development of their respective projects.

Decmil Group has lowered its revenue guidance after announcing a number of one-off costs relating to the closure of one of its local business divisions, coupled with delays to a project and further restructuring, as it seeks to direct its business away from the resources sector.

Chevron is the latest major resources player in the state to announce a change in leadership, after selecting a successor to current managing director (Australia) Roy Krzywosinski, who will hand over the reins in June.

Perth-based Swick Mining Services has flagged a $3 million net loss for the financial year, as the company works to improve productivity to weather the tough times for mining contractors.

The worst might be over for many of the state’s mining services businesses, as they seek to bounce back from the effects of the slowdown in resources project development.

Mining giant Rio Tinto plans to continue its cautious approach as it expects the tough operating environment to remain in the foreseeable future.

Junior miner Orecorp has raised $16.2 million from investors to fund development of its Nyanzaga gold project in Tanzania.

Fortescue Metals Group has taken its latest round of debt repayments to more than $US1.2 billion, with a $US650 million buy of its 2019 senior secured term loans.

BHP Billiton is facing a near 20-fold increase in compensation Brazilian authorities want for last year's deadly Samarco mine disaster.

How do you budget for an iron ore boom that no-one believes will survive more than a few months?