Lithium projects in Western Australia are set to inject almost $1 billion of new investment into the state's economy as the past year's surge in commodity prices and stock valuations turn into tangible commercial benefits.
Fortescue Metals Group has started the search for a new chief financial officer after Stephen Pearce handed in his resignation to pursue an international role, on the same day the iron ore giant announced the appointment of a new director of operations.
Resource Capital Funds is set to emerge with a near 30 per cent stake in Vimy Resources when the uranium company completes a $22 million capital boost to fund ongoing work at its Mulga Rock project in the eastern Goldfields.
Recently revitalised Eastern Goldfields plans to begin producing gold at its Davyhurst operation by March next year, with the company awarding a $12.5 million contract to GR Engineering Services to bring the nearby processing facility out of care and maintenance.
BHP Billiton is locked in a $1 billion dispute with the Australian Taxation Office over the amount of taxes payable on the sale of Australian commodities to its Singapore marketing business, while its chief executive has seen his annual pay slashed in half follwoing the Samarco dam disaster.
Pilbara Minerals boss Ken Brinsden said today there was a reasonable chance the company would double the production capacity at its Pilgangoora lithium project, after releasing a definitive feasibility that confirmed the positve economics of its base-case development.
SPECIAL REPORT: Innovation is a key plank of Resolute Mining's strategy to keep costs down and extend mine life, managing director John Welborn told Business News, while acknowledging the pressures such a plan placed on capital and human resources.
SPECIAL REPORT: Some of Western Australia's biggest gold miners plan to boost their exploration spend in the coming year, with Saracen Mineral Holdings and Northern Star Resources among those committed to putting increasing amounts 'into the ground'.