Mining

Gindalbie Metals chairman Keith Jones has told shareholders at today’s annual general meeting that the last twelve months had been “confronting” for the company, and “as close to a perfect storm as one can get”.

Abundant supply is driving commodity prices lower, but the good news is that Chinese demand for Australian resources will continue as its economy evolves, the Reserve Bank of Australia says.

Andrew Forrest bought $11 million worth of shares in his Fortescue Metals Group when their value hit a five-year low this week.

Two Melbourne-based foreign exchange brokerage founders have been named the Ernst & Young 2014 Australian Entrepreneurs of the Year, with Aurora Oil and Gas founder Jonathan Stewart also being named one of six category winners.

Gold prices have fallen for a second day as investors refocus on the prospect of higher interest rates from the Federal Reserve.

Outgoing Commonwealth Scientific and Industrial Research Organisation chief executive Megan Clark will join mining giant Rio Tinto's board of directors.

BHP Billiton chairman Jac Nasser has told shareholders the company's multi-billion dollar plan to demerge some of its assets will benefit them.

Gold prices have extended their declines in aftermarket trading as the Federal Reserve's meeting minutes quashed any hopes the central bank could delay raising interest rates.

Oil prices in New York have finished little changed on a mixed US inventory report as Morgan Stanley analysts said they expect OPEC to take action to defend prices.

An uncertain future for Pluton Resources’ Cockatoo Island iron ore project has led Watpac Civil & Mining to flag a hit to its net profit of between $2 million and $4 million for the 2015 financial year.

Shares in Adelaide-based Flinders Mines plummeted on the stock market today after it announced a $6.7 million capital raising to complete a feasibility study on its Pilbara iron ore project.

Chevron Australia’s former general manager greater Gorgon area, Colin Beckett, has been appointed to the board of Australia’s largest onshore oil producer, South Australian company Beach Energy.

A subsidiary of mining services group Ausdrill has won its first international contract, which will be to supply drilling services at a tenement in Papua New Guinea held by Heritage Oil for an undisclosed sum.

Mining magnate Gina Rinehart has lost her bid to keep secret details of her two estranged children's latest court challenge.

Mining services companies WesTrac and Orica have both announced further restructuring moves, including a reduction in their workforce, with Orica also announcing the sale of its chemicals business to a private equity group.

Oil prices have declined on scepticism that an OPEC meeting later this month will result in action to address mounting supplies.

Gold prices have closed at their highest level in nearly three weeks, spurred by a drop in the US dollar and tensions in Eastern Europe and the Middle East.

Skilled Group says it will buy-out its partner in the Offshore Marine Services Alliance joint venture for $6.9 million, and plans to merge it with its Broadsword Marine operations to create a single marine services business.

TFS Corporation non-executive director Dalton Gooding has been promoted to the role of non-executive chairman after joining the company just one month ago, after Patrick O’Connor stood down from the role at a board meeting this morning.

Mining groups fear standards could slip at Australian mines if Chinese companies are allowed to bring in their own workers.

The uranium industry is hoping to make trial shipments to India next year.

Burswood-based Programmed Maintenance Services has recorded a drop in after-tax profit for the six months to September to $9.8 million as a result of a continued fall in available work in the resources sector.

The Environmental Protection Authority has given conditional approval for Rio Tinto’s Koodaideri iron ore project in the Pilbara, but is cautious about the potential spread of asbestos that could result from where the mining giant proposes to construct a rail corridor.

Mining services contractor Viento Group has forecast a trading loss in the current half year after disclosing that recently acquired subsidiary HVLV has run into problems on one of its contracts.

Oil prices have dipped on news that Japan slipped back into recession and scepticism that OPEC will reach a deal to cut output.

Gold prices have ended lower as a stronger US dollar edges out investors' worries about tensions between Russia and the West.

Mining giant Rio Tinto will hold talks with China's Sinosteel Corporation to extend a joint venture iron ore project in the Pilbara.

Australian farmers and dairy processors will get a better deal than their New Zealand counterparts under a free trade agreement with China, the federal government says.

Gold miner Doray Minerals has inked a farm-in agreement with Iluka Resources for exploration in Iluka’s South Australian tenement portfolio.

IMX Resources will seek to raise $3 million as part of an entitlement offer for the exploration and evaluation at tenements on its Nachingwea property in Tanzania.

Aurizon's West Pilbara iron ore joint venture has won backing from one of Australia's big four banks, ANZ Banking Group.

Shares in Subiaco-based explorer TNG were up 20 per cent this morning, after the company announced it had signed a binding agreement with major Chinese steel-related raw material distributor Sinometal (Shanghai) Co., for its Northern Territory project.