BHP Billiton says it is not keen on boosting iron ore supplies in a weak market, signalling a change in its long-held position, as it shifts focus to maintaining financial discipline.
A recent participant in Fortescue Metals Group’s VTEC program has notched up another notable achievement, having slipped into the role of ‘chief executive for a day’ as part of the miner’s unique approach to creating opportunities for Aboriginal people.
Shares in gold hopeful Alicanto Minerals have surged on news the company has signed a $US10 million ($A14 million) earn-in agreement with Canadian mining giant Barrick Gold for its Arakaka project in Guyana.
Hong Kong-based Brockman Mining has scored another legal victory in its long-running battle to gain access to railways built by Fortescue Metals Group’s infrastructure subsidiary.
After nearly eight years of inactivity on the ASX, Michael Fotios’s Eastern Goldfields could be reinstated as early as next month after announcing today its capital raising had closed oversubscribed.
Energy giant Woodside Petroleum has bolstered its board with the appointment of a former Shell executive, while Dacian Gold has welcomed a prominent lawyer to its board.
ANALYSIS: Rubbery figures and projections aside, WA’s iron ore miners are breathing a little easier thanks to improving prices and a favourable exchange rate.
Shares in Decmil Group tumbled 18 per cent today after the contractor posted a big half-year loss, cut its dividend, and indicated more restructuring was needed.
Copper and gold miner Sandfire Resources has reported a near-50 per cent fall in half-year profit, but shareholders will still receive an interim payout.
After a solid start to the financial year, mining equipment supplier Emeco Holdings has posted a $107.2 million half-year loss as a result of impairments to its Canadian business.
Mining group South32 plans to cut 390 jobs at its Worlsey Alumina operation in Western Australia’s South West, as part of a global cost-cutting drive following its $US1.7 billion ($A2.4 billion) loss for the half year to December.
Blackham Resources hopes to begin producing at its Matilda gold project near Wiluna within six months, after a definitive feasibility study confirmed it will cost $32 million to bring the mine into production.
Local gold miners Saracen Mineral Holdings, Silver Lake Resources and St Barbara reported a profitable six months, however shareholders won’t be seeing any returns in the form of dividends.
Waste management company Tox Free Solutions has posted a slight increase in profit despite a dip in revenue, but has increased its return to shareholders.
The downturn in mining and construction activity in Western Australia has delivered a mixed bag of results for several contractors today, with the major surprise being a downgrade in MACA's revenue outlook.
Iron ore miner Fortescue Metals Group will continue slashing costs after first-half profit dropped 4 per cent to $US319 million ($A442 million), as fellow miner BC Iron reported a half-year loss of $62.9 million amid falling prices.
Power generation company Pacific Energy has won a contract to supply electricity to Doray Minerals’ Deflector gold project in the Murchison region for an undisclosed sum.
Local waste management company Tox Free Solutions has won a new contract for work at BHP Billiton’s Olympic Dam mine in South Australia, along with an extension for ongoing work at Chevron’s Western Australian assets, for an undisclosed sum.
Perth-based GR Engineering Services has delivered a strong result despite the doom and gloom of the resources sector, announcing today a rise in profit and an increased dividend payout.
The legal battle between BC Iron and Watpac Civil & Mining has intensified with the mining services company serving a counterclaim to the iron ore miner and its joint venture partner, now seeking about $52.8 million.
BHP Billiton has responded to its mammoth interim loss and the prospect of a prolonged downturn by slashing its dividend and adopting a new management structure that leaves Western Australia without a representative in the company’s leadership group.
Perth-based contractor NRW Holdings has enjoyed another active day on the ASX, closing nearly 50 per cent higher after nearly tripling in value on Friday.
Local gold miners continue to prove there is still money to be made in Western Australia’s resources playground, with Northern Star Resources, Metals X, Ramelius Resources and Saracen Mineral Holdings all closing higher on the ASX.
