Shares in engineering and construction firm Clough have skyrocketed 60 per cent in trade today on hopes its previously terminated contract for work on the Reindeer gas field will be resurrected.
Perth-based copper miner Aditya Birla expects to save up to $5 million a month after it revealed a raft of cost saving measures in the wake of falling commodity prices.
Some 5000 jobs at Alcoa's Western Australian operations will be safe from a planned 13 per cent cut to Alcoa's global work force as part of sweeping measures to reduce costs as the global economic crisis curbs demand.
Perceptions of a softer housing market and better mortgage management have boosted the number of Western Australians intending to take out a home loan within the next year, a survey has found.
The board of Citic Pacific, which is developing a $6 billion iron ore project in the state, is reportedly under investigation by Hong Kong securities regulators over a trading scandal.
Takeover target Perilya has urged shareholders to vote in favour of a $45 million major acquisition by a Chinese company, in what has been described as "not fair but reasonable" by an independent expert.
Subiaco-based Golden State Resources has entered into a $3 million share facility agreement to raise additional funds for its Golden Eagle oil and gas project in Utah.
Low oil prices have forced Incremental Petroleum to defer non-essential exploration at its Edirne gas project in Turkey as it prepares for first gas sales for later this year.
Shares in miner Aditya Birla soared as much as 37 per cent today as the company revealed it has renegotiated its working capital facilities with HSBC Bank.
Despite a positive start following a near three-month trading hiatus, shares in Resolute Mining have closed down over 11 per cent following a $55 million capital raising, some $18 million short of its target.
Chinese steelmaker AnSteel is set to lift its stake in Gindalbie Metals to 36 per cent as the miner sets a date for a shareholders meeting for the approval of a $162 million placement.
Tourism Minister Liz Constable has welcomed a decision by the Foreign Investment Review Board that will make it easier for overseas investors to invest in holiday accommodation.
Perth-based alternate energy explorer Eden Energy expects to start trading on the local market by March next year after it entered a deal to sell its stake in a Welsh coal bed methane project for over $5 million.
Magellan Metals, the miner at the centre of the Esperance lead contamination drama, has agreed to a $10 million commitment towards the clean up of the town and the establishment of a community fund.
The development and successful completion of Western Australian projects will be at risk under the federal government's proposed industrial relations changes, a state business lobby group says.
Fortescue Metals Group expects to hold a steady production rate of 55 million tonnes per annum over the course of 2009, setting aside earlier plans to hit that rate by the end of the March next year.
