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Exploration spend up 13 per cent: BDO

Exploration spending among ASX-listed resources juniors increased about 13 per cent in the December quarter, the third consecutive uptick, according to recent research by professional services firm BDO.

Sheffield's Thunderbird to cost $348m

Sheffield Resources has moved to the next stage of progressing its Thunderbird mineral sands project near Derby, after releasing a bankable feasibility study which revealed a development capex of $348 million.

Paladin to take action against JV partner

Uranium miner Paladin Energy says it has started arbitration proceedings against its Chinese joint venture partner over complications with its plans to sell a stake in its Langer Heinrich mine.

Construction deal for $6bn Balla Balla iron ore project

Todd Corporation-controlled BBI Group has signed an agreement with a Chinese firm for construction of the $6 billion Balla Balla iron ore project in the Pilbara.

Downer down on $1.01bn raising plans

Shares in infrastructure and mining services company Downer have fallen more than 20 per cent after institutional investors showed limited enthusiasm for a capital raising to help fund its $1.26 billion takeover of cleaning and catering firm Spotless Group.

Fortescue to pay off another $US1bn debt

Iron ore miner Fortescue Metals Group is taking further advantage of stronger iron ore prices by paying off another large chunk of its debt.

Mitsui in the frame after Walsh appointment

The appointment of Sam Walsh as a director of Mitsui & Company this week has brought attention to the usually low-profile Japanese multinational, which according to BNiQ Search Engine data has been a major investor in Western Australia's resources industry and is one of the state's largest exporters.

Alara signs copper offtake agreement

Perth-based explorer Alara Resources has signed an offtake agreement for copper from its Al Hadeetha project in Oman, with the deal including a $US6 million ($A7.8 million) pre-payment.

Pharmanet to relist as gold company

Dormant Perth-based biotech company Pharmanet Group will re-emerge as a gold explorer after entering into an agreement to acquire Keras Australia by way of a reverse takeover.

BGC wins $720m Arrium contract

Arrium administrators KordaMentha has awarded BGC Contracting a $720 million contract to continue work at the Iron Knob and South Middleback Ranges iron ore projects in South Australia through to 2022.

OECD calls on China to cut steel capacity

Almost 500,000 workers would need to be laid off in China's steel industry by 2020 to reduce excess capacity, according to a report released by the international Organisation for Economic Cooperation and Development this week.  

Emeco taps market for $20m to fund merger

Heavy equipment supplier Emeco Holdings has launched a fully underwritten $20 million capital raising to fund its three-way merger with east coast companies Orionstone and Andy's Earthmovers.

Raising brings New Horizon back in play

Dormant explorer New Horizon Coal has extended its deadline for an $18.8 million capital raising after receiving an underwriting commitment for 70 per cent of the target amount, as it looks to shift its focus to oil.

Cash to lead Millennium

Local gold miner Millennium Minerals has found an internal candidate to replace outgoing chief executive Glenn Dovaston, who has resigned after two years at the helm.

Gascoyne, Intermin reach milestones

Perth-based gold juniors Gascoyne Resources and Intermin Resources have both reached milestones, with Gascoyne earmarking GR Engineering Services for construction of processing infrastructure while Intermin has achieved first production.

Kidman to buy more Western Areas tenements

Kidman Resources has entered into an agreement to farm-in to 19 lithium-prospective tenements in Western Australia owned by nickel miner Western Areas, with the scrip-and-spend deal worth up to $11.6 million.

MinRes increases Hazer stake

Graphite-focused tech company Hazer Group has announced plans to form a joint venture with diversified business Mineral Resources, after MinRes boosted its stake in Hazer by subscribing for $5 million worth of shares.

TNG spin-out raises $6m

TNG spin-out Todd River Resources has raised $6 million from its initial public offering ahead of its ASX debut, which could occur before the end of the month.

Mod raises more funds for copper project

Copper explorer MOD Resources launched its second capital raising in three months, tapping investors for $14.6 million to fund ongoing work at its T3 project in Botswana.

Lepidico taps market for $5.7m

Takeover target Lepidico has tapped investors for nearly $5.7 million, a day after Breakaway Research recommended the Perth lithium company as a 'speculative buy'.

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