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Mining

Moly Mines delisted with $63m in the bank

Nearly 4,000 shareholders in West Perth company Moly Mines have effectively become stranded in the $63 million cashbox after a stand-off between its board and the ASX ended in a delisting of its stock.

Saracen ups bid for Bligh's gold project

Saracen Mineral Holdings has increased its offer for Bligh Resources' Bundarra gold project after Zeta Resources made a competing bid last week.

Sharp fall in CEO salaries

Newly appointed chief executives in WA are on substantially lower salary packages compared with recent years, a Business News survey has found. 

Super pit deal falls through

The Chinese company angling to buy a 50 per cent stake in the Kalgoorlie super pit has reportedly dropped the $US1.3 billion bid due to more rigid Chinese controls on capital outflows, while its bid to buy Southern Cross gold mine owner Hanking Australia has been completed.

Rio shipments hit by bad weather

Mining giant Rio Tinto has made a sluggish start to the year, with first-quarter shipments and production of iron ore affected by bad weather in Western Australia.

Ore fall a big dent to budget

The dramatic fall in the price of iron ore since the start of March could punch a $1.4 billion hole in the state's finances in the next financial year.

Zeta makes $8m play for Bligh

Investment group Zeta Resources has announced plans to make an all-cash takeover offer for gold-focused Bligh Resources, competing with Saracen Mineral Holdings which had agreed to buy the target's core asset in February.

GR awarded $107m Mt Morgans contract

Dacian Gold has formally awarded GR Engineering Services a $107.1 million contract to build processing infrastructure at its Mt Morgans gold project near Laverton.

Iluka set for stability after years of shifting sands

ANALYSIS: Several factors are combining to reshape the future options for titanium minerals and zircon miner Iluka Resources.

Lithium Aust extends Lepidico takeover deadline

Lithium Australia is pushing ahead with its takeover plans for Lepidico, extending the deadline by two weeks despite only a small portion of the target's shareholders taking up the offer so far.

Northern to build $56m pilot plant

Northern Minerals plans to spend $56 million developing a pilot plant for its Browns Range heavy rare earths project in Halls Creek, with first production expected next year.

MZI builds on offtake agreement

Shares in mineral sands miner MZI Resources were higher on news one of the company's existing offtake partners had agreed to take additional leucoxene product from its Keysbrook mine near Serpentine.

South32 scraps $US200m coal mine buy

South32 has scrapped its $US200 million purchase of a NSW coking coal mine after deciding against making what it called significant concessions to gain approval from the competition watchdog.

Eastern raises $28m for Davyhurst

Eastern Goldfields has announced a $28 million capital raising and share sale facility as it works towards commissioning of its Davyhurst gold operation near Kalgoorlie.

Indiana survives leadership spill

A day after the Takeovers Panel put restrictions on the voting power of a group of shareholders in Indiana Resources, the same group has withdrawn plans to seek a board restructure vote at an upcoming general meeting.

RUC wins Dacian mining work

A local subsidiary of South African company Murray & Roberts is set to be awarded an underground mining services contract for Dacian Gold's Mt Morgans project near Laverton.

Bad weather hits Fortescue shipments

Iron ore miner Fortescue Metals Group's shipments dropped 6 per cent in the March quarter due to heavy rainfall and port closures, the company says.

ICRG North set for liquidation

Contractor Indigenous Construction Resource Group has suffered two setbacks, with its half-owned joint venture ICRG North expected to go into liquidation owing creditors about $4 million.

Barminco refinances bond debt, signs $100m facility

Gresham Investment House-owned mining contractor Barminco has secured a $100 million credit facility and closed a $US350 million bond issue to refinance its bond debt.

Western Areas' mill expansion plans back on

Western Areas has reignited plans to upgrade its Cosmic Boy concentrator in the light of interest in nickel in the electric vehicle battery market, with GR Engineering Services to carry out the work.

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