Mining

Jonathan Price has announced his resignation as managing director of Phoenix Gold, in a board shake-up that bumped Dale Rogers up to executive chairman.

Local IT company ASG Group has won a $15 million contract to provide its services to gas and electricity provider Synergy, and has flagged further possible contract wins potentially worth over $80 million.

Gold extended losses into a second day on Thursday as a firm US dollar and early strength in bond yields dented its investment appeal, and weighed also by uncertainty over the timing of a US interest rate increase.

Oil prices have dived a day after hitting 2015 highs as worries about global oversupply reemerged as traders scrutinised a mixed US inventories report.

Rio Tinto reaffirmed today plans to continue its brownfield iron ore expansions in the Pilbara but has noted all new mine developments are still on hold, leaving a question mark over when it will reach its 360 million tonnes per year production target.

Mathematically it’s impossible, but in about 11 days Australian investors will discover whether one plus one can add up to more than two – because that’s the day the son of BHP Billiton, South32, lists on the ASX.

Former federal Treasury secretary Ken Henry will take the helm of National Australia Bank’s board when chairman Michael Chaney retires at its next annual general meeting in December.

Boutique Subiaco-based technology company Velpic has signed a $5.2 million deal to finance international growth plans, as part of a reverse takeover by east coast-based International Coal.

Atlas Iron has appointed its project adviser and former Western Australian politician Cheryl Edwardes to its board as a director.

Half of the board of Southern Cross Electrical Engineering has walked off the job, including chairman John Cooper, after it flagged a change in direction, a number of redundancies and cost-saving initiatives in response to the tough climate for local contractors.

South32 chief executive Graham Kerr says he is confident the diversified mining company will be ready to operate as an independent entity later this month, after BHP Billiton shareholders strongly endorsed the demerger.

Gold prices edged down on Wednesday, as the impact of higher US real yields counteracted the effects of a sharply weaker dollar, soft US data and doubts the Federal Reserve will raise interest rates at its June meeting.

Oil prices have scored new 2015 peaks after weekly data showed US commercial crude stockpiles unexpectedly slumped in the first decline in four months.

West Perth-based oil and gas explorer Orca Energy has announced former mining magnate Nathan Tinkler will be its new executive chairman after participating in the company’s $20 million capital raising.

Engineering and construction firm Valmec has won a contract to supply its services to APA Group’s $140 million Eastern Goldfields Gas Pipeline project for an undisclosed sum.

Gold futures prices rose on Tuesday as the US dollar turned lower and global shares fell ahead of US non-farm payroll data later in the week.

US oil prices have shot up above $US60 a barrel for the first time this year as reports of rising tensions in petroleum-producer Libya fuelled bullish momentum.

Australia recorded a bigger than expected trade deficit in March, largely due to sagging prices for iron ore and coal exports.

Subiaco-based Atrum Coal has signed a deal with a Chinese enterprise that will provide a $US100 million ($A127 million) facility and mining equipment to develop a section of its flagship Groundhog anthracite project in Canada.

Gold climbed one per cent on Monday, buoyed by weak Chinese factory data and US earlier dollar weakness.

Oil prices have drifted lower, with the market lacking major news for direction as traders continue to worry about abundant global supplies of crude oil.

Two local enterprises have joined forces to leverage off each other’s niche offerings amid a declining resources sector and limited growth opportunities for indigenous businesses.

AN iron ore price bounce of almost 30 per cent from 10-year lows earlier this month will no doubt bring some relief to many in the industry and in the Department of Treasury.

Two local firms are using drone technology to reduce the cost of mine surveying and environmental assessments.

Engineering firm Clough and its recently acquired US subsidiary CH.IV International have been appointed owner's engineer on the planned Magnolia LNG project in the US state of Louisiana.

Nextgen Group has signed a deal to supply Hancock Prospecting’s Roy Hill iron ore project in the Pilbara with a high-speed data connection.

Marine services provider MMA Offshore said it was progressing towards its previously announced $15 million cost savings target, while the company suffers reduced demand and lower fleet utilisation.

WA’s private colleges are finding it tough to bounce back from the once-high $A and perception of the state as an expensive destination.

Road haulage business McAleese Group has flagged a number of impairments and a significant hit to its earnings as it prepares to recommence haulage services at Atlas Iron’s Abydos and Wodgina mines this month.

Gold fell to a six-week low on Friday as the dollar strengthened on US economic data and investor sentiment was undermined by longer-term expectations for a US rate rise.

CBH Group signed an interim access agreement with Brookfield Rail "under protest" late on Friday, allowing CBH to start running its rolling stock on Brookfield's rail network, but the two companies

Former gold explorer International Goldfields has become the fourth Western Australian company to move into the cannabis industry, with the acquisition of Uruguayan business Winter Garden Biosciences.