Mining

Sinosteel Corporation's plans to mine old iron ore stockpiles at Koolanooka in the Mid West have been put on hold because low commodity prices have made the project uncommercial.

West Perth-based miner Kagara has revised down its annual zinc production target as it restarts trucking operations after heavy rainfalls in Queensland.

The state's Court of Appeal has overturned a Supreme Court ruling that two years ago found against Jubilee Mines and awarded $1.86 million to former managing director Kim Riley.

Anvil Mining has revealed that its remaining employees and board members have taken a 20 per cent pay cut as the company books a full-year net loss of $US138.5 million ($A209 million).

The state's corruption watchdog has found there was no evidence that lobbyist John Halden received leaks of confidential cabinet information, despite conflicting media reports.

Perth-based Straits Resources has reiterated it may not be able to sell its 47 per cent holding in subsidiary Straits Asia Resources as talks continue.

Nexus Energy has placed its Crux oil project on hold and extended a voluntary suspension of its shares as the company seeks funding after an asset sale process fell through.

Iluka Resources has bought the mineral sands interests in the Eucla Basin from joint venture partner Mithril Resources for $550,000.

Litigation funder IMF (Australia) will pocket some $5 million following an unconditional settlement of a claim against certain directors of Centaur Mining, which formerly owned the Cawse nickel operation in the Goldfields.

Subiaco-based Western Metals plans to change its name to Indago Resources as it streamlines its minerals focus towards gold.

Mining services company NRW Holdings has received a letter of intent for a $57 million contract from Fortescue Metals Group for overburden mining and ore-rehandling at the Christmas Creek site.

The Andrew Forrest-led Poseidon Nickel has confirmed it is in talks with Russian miner Norilsk Nickel about the possible acquisition of the Cawse nickel operation in Western Australia.

Pilbara miner Atlas Iron has signed two new offtake deals with Chinese steel mills covering a further 50 per cent of iron ore from its Pardoo project.

Shares in Mirabela Nickel have been placed in a trading halt as the company prepares for a $US95 million ($A145 million) capital raising.

Some seven months after he was appointed to the helm of Golden West Resources, chief executive David Rose will step down as the company seeks to conserve cash.

Rio Tinto has pulled out of a uranium joint venture with West Perth-based Zambezi Resources, in what is the minnow's second blow this week.

Chinese company, East China Exploration, is set to take a 25 per cent in Perth-based Arafura Resources after subscribing to $24 million worth of shares at a significant premium.

MORE than 750 people filled the front steps of Parliament House last month to witness one of Western Australia's most successful young mining entrepreneurs recognised in the WA Business News 40under40 Awards.

WITH the sixth anniversary of his chairmanship at Paladin Energy quickly approaching, Rick Crabb says it's a "good business to be in at the moment".

WESTERN Australian exporters have received encouraging news about the economies of some of the state's key trading partners, in particular India and China, with strong signs of growth for the future.

THE acquisition by Geraldton-based Tanks2Go of rival tank hire business Clean Fuels Australia (CFA) last September marked a milestone for the business founded by managing director, Mark Westbrook.

DURING the past few months, gold has been about the only game in town where investors have been able to make money as stocks rise.

Inpex says it remains committed to developing its $12 billion gas processing plant, located in Darwin, after a Liberal Senator said the company could move to offshore locations due to the Rudd government's emissions trading scheme.

Coal baron Ken Talbot will increase his holding in Sundance Resources to 22 per cent after purchasing $5 million worth of shares in the iron ore explorer.

Miner Jabiru Metals has paid down $US15.5 million ($A24 million) of its bank debt after closing out part of its hedge book while its Jaguar copper and zinc mine achieves record monthly production.

Kalahari Minerals has withdrawn legal proceedings against Extract Resources following a unanimous agreement to appoint a new chairman and the resignation of two directors.

Chinese steel maker Hunan Valin Iron and Steel Group Company is set to increase its stake to 17.4 per cent in Fortescue Metals Group by subscribing for a further $87 million in shares.

Acceptance of Sinosteel Corporation's takeover offer for Midwest Corporation has kept Murchison Metals' net profit after tax in the black at $17.5 million.

The Brian Gilbertson-led Pallinghurst Resources and associated company Red Rock Resources is set to take control of Jupiter Mines, which holds several exploration tenements in Western Australia, following shareholder approval.

Mirabela Nickel will need to raise less equity after securing a further $US40 million towards its $US150 million debt facility.

Woodside Petroleum has reportedly signed an agreement with state-owned Korea Gas Corporation to invest in three exploration permits in the Browse Basin.

Nomad Building Solutions has secured contracts worth nearly $30 million from Woodside Petroleum for the construction of two housing lots in the Pilbara, which will house workers for the Pluto liquefied natural gas project.