Mining

Nedlands-based sandalwood producer TFS Corporation has posted a massive 1,598 per cent surge in half-year profit to $55 million.

Two of Western Australia's most successful gold miners are competing to gain control of Tanami Gold’s Central Tanami project, indicating the growing investor interest in the gold mining sector.

Mining services firm Ausdrill will cut more jobs as tumbling commodity prices drove a $177 million half-year loss.

Capital spending on major mining, energy and infrastructure projects in Australia is set to drop more than 60 per cent over the next three years, according to analysis by ANZ Banking Group.

Perth-based contractor Southern Cross Electrical Engineering has reported a 34 per cent slide in profit to $4.1 million for the six months to December, with the company facing challenging and competitive conditions in the sector.

Fly-in, fly-out workers are increasingly afraid to report mental health issues because they don't want to be made redundant by struggling mining companies, a Western Australian parliamentary inquiry has heard.

Shares in Canada-focused coal developer Coalspur Mines surged after the company announced it had received a $15 million takeover proposal from KC Euroholdings.

Shares in engineering and maintenance business WorleyParsons have tumbled on news its first-half profit had fallen 7 per cent to $104.3 million.

Shares in Kerry Stokes' Seven Group Holdings have soared on the firm's plans for a share buy-back and despite a 74 per cent drop in first-half profit to $68.4 million.

Troubled mining services contractor Macmahon Holdings has fallen into the red with a first-half loss of $112.45 million.

Oil prices have slipped as traders estimated a key report will show another increase in US crude inventories that already are at record levels, exacerbating the global oversupply.

Gold prices fell to the lowest level in almost two months on Tuesday after Federal Reserve chair Janet Yellen waxed positive about the economy's performance, even as she appeared to temper any expectations of an imminent rate increase.

Perth-based waste management company Tox Free Solutions has posted a 30 per cent boost in first-half profit to $12.4 million on the back of improvements in its industrial services operations.

BHP Billiton has scrapped the sale of its US Fayetteville shale assets in the face of weak oil prices, less than four months after it was announced, and announced big cuts to its capital spending.

Mungana Goldmines shares closed 20 per cent higher today on news former Mutiny Gold managing director Tony James would be the company’s new boss.

Shares in Perth-based contractor Brierty slumped after it announced a 7 per cent slide in first-half profit to $4.06 million, as competitiveness ramps up in the sector.

Atlas Iron and BC Iron have both reported big losses following impairments and a race to cut costs as iron ore prices remain depressed.

Subiaco-based gold producer Northern Star Resources will become Alchemy Resources’ largest shareholder by purchasing the company’s Hermes deposit in the Bryah Basin for $1.45 million.

Mining giant BHP Billiton's half-year net profit has dived by 47.4 per cent to $US4.3 billion ($A5.52 billion) after a period of plummeting iron ore prices.

Oil prices have fallen, extending last week's slide as US crude supplies linger at historic levels.

Gold prices have fallen, as a deal between Greece and its European creditors calms nerves in asset markets and lessens the need for holding gold as a hedge against uncertainty.

Perth-based uranium developer Toro Energy has announced the appointment of Fiona Harris as the company’s new chair, while also announcing a reduction in the number of directors as a result of the current market conditions.

WA Skills Training has secured an estimated $2 million per year deal with the Malaysian government to deliver training for both Malaysians and Australians seeking work on major resource projects.

Fremantle-based MMA Offshore has announced a lift in interim revenue and profit, but its shares slumped today on a lower dividend and predictions of a weaker second half.

Troubled mining services company Boart Longyear is confident demand for its services will pick up eventually, despite posting a $US333million first-half loss during the 2014 calendar year.

The financial incentives for higher cost mid-tier miners to either share infrastructure or merge is at an all-time high, according to accounting firm EY.

GR Engineering Services has recorded a reduction in net profit after tax despite substantially higher revenues during the first half of the financial year.

Quintessential Resources is set to relist on the ASX tomorrow after morphing into technology incubator Yonder and Beyond, but plans by three travel businesses, including George Michalczyk's Motive Travel, to undertake a backdoor listing through Red Gum Resources have fallen through. Click through to also see the BNiQ listing of 26 WA backdoor listings.

Mining and civil engineering contractor Maca has posted a 6.4 per cent increase in profit to $34.7 million for the six months to December, despite revenue taking a hit from recent mine closures, as the company shifted its focus onto gold projects in South America.

The board at Balamara Resources took drastic action last week in light of the dramatic fall in the company’s share price during the past 12 months, with managing director Mike Ralston announcing the intention to de-list from the ASX.

There's a flipside to being undervalued, according to Minotaur Exploration managing director Andrew Woskett, whose business has a $21 million market cap.

A depreciating currency and encouraging demand over the medium term spells good news for the state’s mining juniors, if they can ride out short-term fluctuations.