Mining

Sandfire Resources has reported a 58 per cent fall in half-year net profit on the back of almost $60 million in depreciation and amortisation expenses and exploration costs.

Perth-based junior Mutiny Gold has launched plans to raise $4.1 million towards drilling at its Deflector copper-gold project in the Midwest, including a $1.5 million share placement to preferred mining contractor Ausdrill.

Engineering and construction contractor Decmil Group has posted a 10 per cent increase in half-year profit, despite reporting a decline in revenue.

Mining equipment supplier Emeco Holdings has posted a $180 million half-year loss, writing off $158 million in goodwill amid softness in the mining sector.

Litigation funder Bentham IMF and law firm Slater & Gordon will pursue a potential class action against failed engineering contractor Forge Group amid allegations of misleading and deceptive conduct by the company.

Oil prices hit their highest levels so far this year on Wednesday on the back of US winter weather and more turmoil in oil exporters Venezuela, South Sudan and Nigeria.

Embattled miner Atlantic is once again set to obtain extra funding from major shareholder Droxford International, which has proposed a new $32.6 million loan facility.

Northern Star Resources has been recognised for excellence in the resources sector, winning the fourth annual Craig Oliver award at the RIU Explorers Conference.

Royal Dutch Shell has reportedly sold its downstream assets in Australia, including petrol stations and its Geelong refinery.

Mount Gibson Iron has added to the run of strong half-year results from iron ore miners, more than doubling its net profit on the back of record sales. The market, however, marked down its shares after the company confirmed it would not pay interim dividends.

Oil and gas producer Woodside Petroleum has recorded a 41.4 per cent fall in full year net profit to $US1.75 billion ($A1.94 billion).

US oil prices have jumped to a four-month high due to the effects of a cold winter in the US and rising concerns about stability in some key oil exporters.

Perth-based gold companies Perseus Mining and Kingsrose Mining have strengthened their balance sheets after completing share placements worth a combined $40 million.

Panoramic Resources’ share price rocketed higher today after the company reported drill results that it described as a “potential game changer” for its Savannah nickel project.

Contractor Brierty has posted a 19 per cent half-year profit reduction as increased competition in the company's civil construction division squeezed its margins.

Seven Group Holdings chief executive Don Voelte has stepped down from his role as chairman of oil and gas junior Nexus Energy, saying the position was no longer appropriate as Seven Group eyes opportunities in the oil and gas sector.

Macmahon Holdings has returned to profitability but warned that tough conditions for companies servicing the mining industry are unlikely to pass anytime soon.

Engineering group RCR Tomlinson says its $140 million purchase of infrastructure business Norfolk Group is paying dividends, announcing a 14 per cent increase in half-year net profit.

Engineering contractor Monadelphous Group has posted a record half-year net profit of $87.1 million, with cost-cutting efforts offsetting softer revenue.

Alcoa of Australia has announced it will permanently close its Point Henry aluminium smelter at Geelong in August because it has "no prospect of becoming financially viable" in another blow to the nation's manufacturing sector.

Western Areas is looking to raise $104 million to reduce debt and provide greater financial flexibility after a positive half-year report which saw the nickel miner turn a big loss to a modest $2.7 million net profit.

BHP Billiton has delivered a better than expected half year profit based on cost cutting rather than commodity prices while predicting the good times to continue.

Gold and silver have hit fresh multi-month highs on the European spot market, although analysts say there are near-term risks to further gains.

Energy and Minerals Australia has appointed former state government minister Cheryl Edwardes as chairman, replacing Mike Young who has taken a new role as managing director.

The Australian Institute of Marine Science has teamed up with three universities for a major environmental study off the state's Kimberley coast that will be funded by gas project developers Shell

The Tony Sage-chaired Cauldron Energy is lobbying the state government to ignore the advice of the mining warden and allow the company to explore for uranium at pastoral leases on Andrew Forrest's

Battling vanadium producer Atlantic has revealed it could take up to nine months to repair fire damage to the processing plant at its Windimurra mine in the Mid West.

The failure of construction company Forge Group has forced Roy Hill’s major contractor, Samsung C&T, to consider alternative ways to continue work on the iron ore project, including the possibi

Drilling fluids and equipment supplier Imdex has reported another fall in net profit, after a record half-year performance by its oil and gas division was offset by further contraction in its minin

Engineering and property services group UGL is hopeful of growing earnings in 2014 despite fielding offers for its property business.

Oil and gas explorer Oilex has raised $6.8 million to fund development and drilling at its Cambay oilfield in India’s Cambay Basin.

Freight rail operator Aurizon has suffered a 39 per cent slide in first half profit due to asset writedowns and redundancy costs.