Mining

Ausdrill has backed former Leighton Holdings chief executive Wal King to continue serving on its board despite allegations of bribery and corruption against Mr King and several other executives.

The value of Western Australia's resources industry has fallen slightly from last year's record level, but has still topped $100 billion for the third consecutive year.

Perth-based explorer Australian American Mining Corporation has announced further capital raising plans as it looks to bring its American copper interests to production.

Anatolia Energy has completed a $6.2 million capital raising and commenced development works at its Temrezli uranium project in Turkey.

Gold futures have declined as some investors worry that demand will falter after prices in the week climbed back above $US1,300 a troy ounce.

The war of words between Empire Oil & Gas and its joint venture partner ERM Power continues, with Empire directors warning shareholders that ERM lacks the experience needed to guide an oil and gas company.

Clive Palmer will have to wait at least another week to find out if he's made it into the federal parliament.

Resolute Mining says it remains on track to achieve its production guidance despite recording softer quarterly production figures and an increase in cash costs.

Petroleum producer Santos has warned its full year production will be at the low end of predictions.

Business News' annual export review charts the state’s reliance on a handful of major companies and commodities, despite the emergence of new players.

Tiger Resources has lined up $US50 million in funding towards construction at its Kipoi copper project in the Democratic Republic of Congo under a proposed offtake arrangement with commodity trader Gerald Metals.

Woodside Petroleum is confident of reaching its 2013 production targets after posting a 9.5 per cent boost in quarterly production.

TNG has bolstered its coffers after obtaining new funding commitments of $2.8 million, after previously battling to gain support for a share purchase plan.

Newcrest Mining has beaten expectations to produce 586,573 ounces of gold during the September quarter.

Sino Gas & Energy Holdings has reported an increase in reserves and resources for its production sharing contracts in China.

Gold prices have risen after US Senate leaders unveiled a deal to fund the federal government and raise the debt ceiling, prompting cautious optimism among investors.

Iron ore junior Pluton Resources has completed a $3 million placement.

Minera Gold has restructured its board of directors and cut costs following a comprehensive review of its business.

West Perth-based junior Avanco Resources has completed an $18.1 million share placement as it looks to fast-track development of its Pedra Branca copper project in Brazil.

Alumina producer Alcoa of Australia has revealed it's cutting dozens of jobs from its local operations and pushing all of its contractors to slash their rates by 12 per cent.

Vanadium producer Atlantic has secured a further $11.75 million in unsecured funding from its biggest shareholder, Droxford International, the latest in a series of cash injections to sustain its working capital.

Gold and nickel miner Independence Group’s managing director Chris Bonwick has taken a second stint of special leave this year.

The economic green shoots that boosted Iluka Resources' hopes of a recovering mineral sands market earlier this year have shrivelled, with the miner recording weaker quarterly revenue.

Northern Star Resources says its latest quarterly results demonstrate its status as a consistent performer as it looks to continue to court investors.

Shares in Mount Gibson Iron have risen on the back of a 13 per cent quarterly increase in iron ore sales.

Humphrey Hale has stepped down as managing director at Wolf Minerals Limited, while former Grange Resources managing director Russell Clark will take over the position effective today.

Oil prices have fallen as US lawmakers remained deadlocked over a budget and debt ceiling deal and as negotiations began on Iran's nuclear program in Geneva.

Global miner Rio Tinto is confident of hitting its 2013 iron ore production target of 265 million tonnes, after achieving further growth in the September quarter.

Mindax says it is a step closer towards developing its Mt Forrest iron ore project on the back of a binding joint venture agreement worth up to $52 million with Hong Kong-based investment company Perpetual Mining Holding.

Western Areas says its cost-cutting measures have paid dividends amid challenging conditions in the nickel sector.

Range Resources says it may no longer proceed with a planned $105 million takeover of International Petroleum in the wake of the oil and gas explorer selling its assets in Russia and Kazakhstan.

MZI Resources says it is in discussions with finance providers following news that one of the two lead arranging banks appointed to provide debt funding for its Keysbrook mineral sands project has withdrawn from the process.