Mining

Shares in the Chile-focused copper play closed 16 per cent higher after confirming its biggest shareholder had reserved more than half of copper output from its Costa Fuego project.

Peter Wade has stepped down as Mineral Resources’ non-executive chair after spending a decade in the role and 23 years overall with the WA iron ore play.

WA’s internal economy grew just 0.1 per cent in the December quarter as spending on mining equipment slowed, while national GDP rose 3.4 per cent.

Atlas Iron’s Miralga Creek mine has produced its first iron ore, with the project built by a joint venture including Indigenous contractor East West Pilbara.

IGO has walked away from talks first reported last month regarding Glencore’s CSA copper mine in New South Wales without a commercial agreement.

Gina Rinehart-led Hancock Prospecting’s Mulga Downs iron ore project will be subject to a major review by the environmental watchdog.

Sandfire Resources has cited stronger copper prices and operational performance in posting a 24 per cent increase in net profit to $US55.2 million over the first half of the financial year.

Perseus Mining has struck a friendly $C219 million deal to acquire full ownership of Canada’s Orca Gold Inc, which owns 70 per cent of a development project in Sudan.

Two former directors of collapsed Capital Mining have faced court accused of dishonestly using their position to gain $2.6 million.

Record sales and a buoyant market have led to Lynas Rare Earths reporting a 286 per cent increase in first-half profit to $157 million.

Australian Gold Reagents has flagged a significant expansion to its sodium cyanide plant in Kwinana in efforts to keep up with increased demand for gold.

Rio Tinto will shell out its highest dividend ever after delivering a record $US21.1 billion ($A29bn) profit for 2021.

Nev Power has stepped down as chairman of Perth Airport and taken a leave of absence from Strike Energy and APM, ahead of his sentencing for breaching COVID travel rules.

Peel Mining is seeking to raise $23 million to advance its South Cobar copper project in NSW while making a number of board and management changes.

The explorer-turned lithium producer delivered a maiden profit but downgraded its production forecast for the second time in two months.

WA contractors Monadelphous and Perenti both enjoyed improved revenues during the first half of the financial year, but labour and productivity constraints continue to hamper the sector.

Perth business Ardea Resources has secured funds through a share placement to continue exploring its Kalgoorlie nickel project.

Goldminer Regis Resources has said it won’t declare an interim dividend for the 2022 financial year after its first-half profit fell almost 70 per cent.

Shares in Carawine Resources rose 33 per cent following an all-cash takeover bid from Christopher Wallin-affiliated company QGold, which also took up a large stake in the explorer.

WA house prices may escape a predicted slide due to several factors, include the state’s acute labour shortage.

MACA’s revenues and earnings were driven by a strong pipeline of work during the half year despite a stifled labour market.

Revisions to Hastings’ rare earth project have more than doubled its forecast return to $1 billion, but higher labour and commodity prices have run up capital costs by $142 million.

With its Western Areas acquisition still in progress, IGO has responded to media speculation surrounding a copper mine deal with Glencore.

The pace of the WA’s Environment Online rollout is too slow, the state opposition said today, while the federal government has announced $47 million for a national digital approvals platform.

NRW Holdings has reported steady earnings and revenue for the six months to December, sending the Perth contractor’s shares up by more than 15 per cent.

Andrew Forrest’s Wyloo has agreed to back IGO’s $1.1 billion purchase of Western Areas as well as collaborate on nickel downstream processing opportunities under a newly formed partnership.

Fortescue Future Industries has hired Minderoo Foundation deputy chief executive Felicity Gooding as commercial general manager amid leadership changes at the company.

Bill Beament-led Develop will pay up to $100 million for Heron Resources and the Woodlawn copper-zinc mine in NSW, seven months after the developer went into administration.

Subiaco-based SRG Global has secured work on three goldmines, including a satellite deposit near Red 5’s Darlot operation in Western Australia.

Surging construction activity in the lithium sector will provide increased opportunities for local workshops and sub-contractors.

Rio Tinto will release documents to MinRes after being dragged into the Chris Ellison-led company's row with Destec over confidential information claims.

Liontown has struck a five-year lithium concentrate supply deal with electric vehicle manufacturer Tesla.