Shares in Sundance Resources have shot up by more than 11 per cent after it accepted a reduced takeover offer from China's Hanlong Mining.
Sundance said it had accepted a fresh $1.37 billion offer from Hanlong, which reduced its original offer by about one fifth.
Resources giant Rio Tinto has reported a 34 per cent drop in its underlying first half profit to $US5.2 billion ($A4.9 billion), with lower prices for iron ore and other commodities the main reason for the expected decline.
Treasurer and Attorney-General Christian Porter has stunned the state government by resigning immediately from his ministerial roles, and confirming that he plans to leave state politics and make a run for federal parliament.
Strike Energy was one of the few Australian stocks to end the day in positive territory, after drilling results intersected one of the thickest coal seams recorded to date in South Australia's Cooper Basin.
Monadelphous Engineering subsidiary KT Pipelines has appointed civil construction and services firm Central Systems for construction works at Chevron's Gorgon liquefied natural gas project on Barrow Island.
BHP Billiton has continued making big changes in key executive positions, appointing Ian Maxwell as president energy coal, following the move of Jimmy Wilson from energy coal to take up Ian Ashby's position of president iron ore, announced in March.