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Mining

Kennards buys Belmont business

National hire equipment supplier Kennards Hire has acquired a Belmont-based company that offers similar services for an undisclosed sun.

$120m in new work for Monadelphous

Perth-based Monadelphous Group has received a number of contracts with multiple clients including Fortescue Metals Group, BHP Billiton and Chevron, with the work worth a combined $120 million.

Lithium-focused MetalsTech debuts on ASX

Subiaco-based lithium explorer MetalsTech has enjoyed steady gains on its first day of trading on the ASX, after completing a $4.3 million initial public offering.

Atlas shares down despite return to profit

Shares in Atlas Iron fell 9.3 per cent today despite the company returning to after-tax profit in the six months to December on the back of higher volumes and a lift in the iron ore price.

Lower prices and write-offs hit Alumina

Alcoa's Australian partner, Alumina, has slumped to a full-year loss due to restructuring-related write-offs and lower prices and volumes.

ACCC concerned about South32 coal assets deal

The competition watchdog has raised concerns over South32's proposed $US200 million acquisition of Peabody Energy Corporation's Metropolitan Colliery in NSW, on the grounds that it may lessen competition in the region.

Iluka slides to $224m loss

Mineral sands miner Iluka Resources has slid to a full-year loss of $224 million on the back of hefty write-downs related to a restructuring of the company's business amid the downturn.

Nickel price aids Western Areas

Nickel miner Western Areas has returned to positive territory with a net profit of $516,000 in the six months to December.

Doray flags $45m impairment

Gold miner Doray Minerals says it expects to report a $40 million-$45 million impairment charge against its Andy Well and Deflector gold mines, with the former operation also expected to deliver an operational loss for the financial year.

Dacian to raise $110m for Mt Morgans

Dacian Gold has reignited plans to undertake a large equity raising, announcing today a $110 million placement and entitlement offer to fund development of its Mt Morgans gold project near Laverton.

Fortescue tips moderating iron ore price

Iron ore miner Fortescue Metals Group has joined larger rival BHP Billiton in forecasting a near-term moderation in iron ore prices, downplaying the rally that has helped it boost profits and lift shareholder payouts.

BHP bounces back to half-year profit

BHP Billiton has posted a first-half profit of $US3.2 billion ($A4.2 billion) as a rebound in prices for iron ore and petroleum helped the resources giant swing back to profitability.

Aust Mines to raise $6m for project work

Perth-based explorer Australian Mines has announced plans to raise up to $6.3 million from investors to fund ongoing work at its Sconi and Flemington scandium-cobalt projects.

Beadell raises $51m for plant upgrades

Gold miner Beadell Resources has rattled the tin for $51 million to pay for plant upgrades and further exploration work at its Tucano mine in Brazil.

Monadelphous profit slips 24%

Engineering firm Monadelphous Group is looking to diversify into new markets such as infrastructure and renewables as revenue from mining and energy customers continues to decline.

Rinehart business to become state’s largest

Hancock Prospecting is poised to become Western Australia's biggest private company after a investment and acquisition spree in iron ore and agribusiness which is expected some time this year to push its revenue past that of the incumbent number one for the past 12 years, home builder BGC. A 2018 reranking appears certain following research for the Business News Private Companies list published today in a special report.

Arafura taps investors for $5m

Rare earths explorer Arafura Resources has announced a $5.1 million capital raising to fund ongoing work at its Nolans project in the Northern Territory.

AusQuest surges on South32 venture

Shares in local explorer Ausquest have surged on news the company has struck an agreement with BHP Billiton spin-off South32, with the two companies to form a joint venture over prospective projects.

WorleyParsons shares plunge on loss

Engineering and project management firm WorleyParsons says the slump in activity among its customers, which caused revenue to plunge by 35 per cent and pushed the company to a first-half loss, may have bottomed out.

Solid six months for Fleetwood

Perth-based Fleetwood Corporation has posted solid results for the half year, with revenue higher and profit surging, but no dividends declared.

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