Mining

Chairman and managing director of Alcoa of Australia, Alan Cransberg has announced his retirement in September after 35 years at the company.

Wesfarmers has acquired a 13.7 per cent shareholding in Quadrant Energy, less than three weeks after the oil and gas producer was established as an independent company.

The corporate watchdog has begun civil penalty proceedings against Padbury Mining and two of its directors over statements made last year claiming the company had lined up $6 billion in equity to fund construction of a port and rail network at Oakajee north of Geraldton.

Atlas Iron is confident of operating through another iron ore price rout after locking in forward sales above its break-even costs.

Programmed Maintenance Services’ six-month pursuit of its larger competitor, Skilled Group, has paid off, with the Melbourne-based company backing a $424 million takeover offer.

Gold prices have eased as the euro slid sharply against the US dollar, and as stock markets rallied on hopes that Greece would reach a deal with its creditors to stave off default.

Oil prices have climbed lifted by expectations of a further decline in US inventories and positive data in the eurozone that could signal stronger demand.

The state government expects to reap inabout $1 billion in revenue after signing a development agreement with the Woodside Petroleum-led Browse consortium to supply 800 perajoules of gas to the domestic market.

New research from publication The Economist indicates China will be the world’s largest economy by 2026, with a forecast nominal GDP nearing $US30 trillion, and predicts the rise of Asian nations will drastically affect global politics.

The state government has provided a further $4.6 million for drilling and prospecting activities at 44 projects in Western Australia, including Fortescue Metals Group’s Trifecta base metals project.

Federal Labor has agreed to back what it once labelled Tony Abbott's bowser bandit tax by reversing its opposition to indexation of the fuel excise.

Phoenix Gold has taken a planned vote on an alliance with Evolution Mining off the agenda of its general meeting, being held today, after Zijin Mining Group made a play to take ownership of the company in a cash deal worth $47 million.

Alcoa has been directed to improve its asbestos management procedures after workers were potentially exposed to it at two refineries in Western Australia.

Oil prices have risen modestly as dealers focus on hopes for a Greek bailout deal and a possible return of Iranian supplies to an oversupplied global market.

Gold prices fell more than one per cent as global equities jumped on possible signs of progress in Greek debt talks, which curbed safe-haven demand for the metal.

The environmental watchdog has given its nod for Rio Tinto’s proposed extension of the West Angelas iron ore project in the Pilbara.

The state government has appointed Donald Mackay-Coghill as chairman of Gold Corporation and Richard Hayes as chief executive, effective from next month.

The independent directors of Energy Resources of Australia have quit after a disagreement with major shareholder Rio Tinto over the future of its Ranger uranium mine in the Northern Territory.

The tussle for control of Phoenix Gold intensified today after Zijin Mining Group struck a pre-sales agreement with one of the miner's largest shareholders, boosting its interest to 17.9 per cent ahead of announcing a cash takeover bid that values the business at $47 million.

Perth-based Programmed Maintenance Services is set to strike a long-awaited takeover deal with labour hire company Skilled Group, with both companies entering into trading halts this morning ahead of a formal announcement.

Troubled Perth company Macmahon Holdings has flagged an impairment of up to $125 million in its full-year financial result after losing contracts with some of its biggest clients during the past six months, including Fortescue Metals Group.

The Wirlu-murra Yindjibarndi Aboriginal Corporation has continued to benefit from being one of Fortescue Metals Group’s preferred indigenous partners, having joined with Thiess to win an $85 million contract in the Pilbara.

Rutila Resources and Lemur Resources have both received ticks of approval by independent experts for their respective off-market takeover offers by foreign bidders.

Metals explorer TNG has signed a deal with a local renewable energy group for the supply and installation of a solar power system at its flagship Mount Peake vanadium project in the Northern Territory.

Local miner Western Areas has expanded its operations portfolio with the acquisition of Glencore Xstrata’s mothballed Cosmos nickel project in the Agnew Wiluna belt, for $24.5 million.

The Michael Ruane-led minerals explorer Reward Minerals has received firm commitments for a $5.2 million capital raising to fund ongoing work at its LD potash project in the Little Sandy Desert.

Oil prices have risen modestly, lifted by a weaker dollar that makes dollar-priced crude less expensive.

Gold rose above $US1,200 an ounce on Thursday, its biggest increase in almost a month, as the US dollar slid the day after the Federal Reserve indicated that interest rates may rise more slowly than many had expected.

The chairman of a state inquiry into the impact of fly-in, fly-out work practices on mental health is confident Western Australia can enact a raft of recommendations to reduce suicides and improve wellbeing for the state’s 60,000 Fifo workers, despite admitting the federal government’s response to a recent similar national inquiry was ‘lame’.

West Perth-based oil and gas explorer Orca Energy has been forced to abandon a $20 million capital raising after concerns were raised by the Australian Securities Exchange.

West Perth-based explorer Monto Minerals has joined the wave of backdoor listings, with the company announcing plans to acquire a US tech company for $13 million.

Nedlands-based sandalwood producer TFS Corporation will buy two US pharmaceutical companies for $US23.4 million ($A30.3 million) in cash and shares.