Mining

Mining boss Andrew Forrest says he's not particularly concerned about sagging Chinese equities markets, despite the slump sparking worries about growth in the world's second biggest economy.

Belmont-based NRW Holdings has been awarded a $140 million contract with Rio Tinto.

Oil prices have slumped for a fourth straight day as the steepest drop in Chinese equities since 2007 fuelled fresh fears about reduced demand in the world's top energy consumer.

Spot gold has lost ground, moving closer to last week's five-and-a-half- year lows below $USUS1,100 per ounce, with expectations for a near-term US interest rate hike seen keeping momentum firmly with the bears.

Monday was a horror first day back to the trading room for Atlas Iron as the Pilbara miner's share price plunged by more than 70 per cent.

With science increasingly giving hydraulic stimulation, or ‘fracking’, the thumbs up, the practice could be used to unlock enormous amounts of tight gas in WA.

SPECIAL REPORT: Global oil prices may have halved in the past 18 months, but WA onshore energy players like their prospects.

Subiaco-based Lucapa Diamonds raised $4 million from a placement of shares to grow cash flows at its Lulo Diamond Project in Angola.

Atrum Coal shares almost halved in price after the company announced a heavily discounted entitlement offer to raise $5 million.

Goldminer Northern Star Resources sold a record amount of gold in the June quarter, putting it well within its sales guidance for the full year.

Spot gold has turned higher after sliding more than one per cent to its lowest since early 2010 on Friday, as the US dollar fell from its highs and US stocks extended losses, but the precious metal was on track to see the biggest weekly decline since March.

Sydney-based Perth Basin player AWE has announced it won't need to further use hydraulic fracturing at its Drover-1 well, after existing drilling results gave it a clear assessment of shale gas potential in the field.

Heron Resources has announced an equity funding package with London-based private equity fund Greenstone Resources of up to $20 million.

Local minerals explorer IMX Resources has announced plans to delist from the Toronto Stock Exchange due to a lack of demand for its shares in the Canadian market.

Gold has turned lower, dipping back below $US1,100 an ounce as a steeper-than-forecast drop in US jobless claims helped the US dollar recover from earlier lows, though prices remain under pressure after this week's plunge.

Oil prices have slipped on persistent concerns about abundant supplies in a slowing global economy.

Architects have a saying about ‘less being more’. The mining industry has flipped that around with ‘more being less’, as shown in this week’s production reports and share prices of Fortescue Metals and BHP Billiton.

BC Iron has released its quarterly activities report, announcing successes in cutting costs but has foreshadowed a future impairment.

Gold miner Newcrest Mining is expected to post its best earnings figures in years after lifting its profit margins thanks to lower production costs and a weaker Australian dollar.

Fortescue Metals Group's cost cutting is delivering benefits to the iron ore miner, amid wild movements in the price of Australia's key export commodity.

Oil prices have fallen after US government data showed higher crude stockpiles, adding to concerns about a global supply glut.

Gold fell more than one per cent to a five year low as a bounce in the US dollar fueled downside momentum, with investors continuing to pull away from the metal after its dramatic slide earlier this week.

A nearly $50 million national research facility opened in Perth yesterday is set to further define Western Australia’s place in the world as a resources hub, but has its work cut out for it convincing the public of its benefits according to industry leaders.

After a prodigious drop in exploration spending during the past decade, miners and governments have unveiled a blueprint to kickstart greenfields programs.

Gold miner Silver Lake Resources plans to boost its exploration spending by 60 per cent in the current financial year on the back of a strong improvement in its current and forecast cash position.

Local oil and gas explorer 88 Energy has received firm commitments for a $12 million capital raising to fund ongoing work at its Icewine project in Alaska.

Southern Cross Electrical Engineering shares jumped nearly 13 per cent today to their highest price since March, after the company announced an annual loss but maintained its dividend and was cautiously positive about its outlook.

One of the state’s largest Aboriginal trusts is being forced to further tighten its belt as its royalties from Rio Tinto’s Yandi iron ore project continue to fall.

In a move to expand its presence in the mining services market, BGC Contracting will be forming a joint venture with South African firm DRA, the two companies announced today.

The engineering arm of property and infrastructure group Lendlease has won a $96 million contract to build BHP Billiton’s new tug harbour at Hunt Point in Port Hedland.

BHP Billiton spin-off South32 will write down $US1.9 billion of its manganese and coal businesses after suspending capacity at its South African smelter.

BHP Billiton has beaten its full-year iron ore production guidance but has flagged a hit to its full-year profit of up to $US650 million ($A876 million) due to weakness in its copper business.