Mining

The premier of Australia's mining capital has cautioned African nations against succumbing to pressure from resources companies for subsidies.

Prime Minister Tony Abbott has confirmed he hopes to sign a nuclear cooperation agreement that will enable Australia to sell uranium to India.

Perth-based Marine safety equipment developer Mobilarm has signed a $1.8 million rental contract for the supply of the new sMRT V100 beacon and sMRT life jacket to the international fleet of geoscience organisation Polarcus DMCC.

Energia Minerals' shares have jumped by nearly 30 per cent on the news that Euroz Securities and new investors had completed due diligence on its Gorno zinc project and confirmed that they would proceed with the $8.15 million funding package, which was announced last week.

Perth explorer Buxton Resources has made plans to raise $2.6 million to fund drilling at its Yalbra graphite project in Western Australia, along Oaktree North and Zanthus Ni-Cu projects in the Fraser Range.

Shares in Poseidon Nickel have surged after it announced it had agreed to buy Norilsk Nickel's Lake Johnston nickel project, located west of Norseman, for an undisclosed amount.

Iron ore explorer Sundance Resources says it has raised $40 million through a subscription for its convertible notes and options by resources investor Gennadiy Bogolyubov.

US oil prices have plunged more than $US3 following weak manufacturing data from China and Europe and amid generous supplies around the world.

Gold prices fell to a two-month low on Tuesday and palladium posted its steepest decline in two months, as pressure from a stronger dollar snuffed out investor appetite for the haven assets.

Businessman Joseph Gutnick has reduced his stake in a Western Australian gold explorer a week after resolving his stoush with the company's board.

Shares in oil and gas explorer AWE have bounced by more than 3 per cent on news it has made a significant gas discovery in the Perth basin.

West Africa-focused explorer Minbos Resources has appointed former Aviva Corporation head Lindsay Reed as its new chief executive officer.

Engineering firm Downer EDI has won a construction contract worth up to $170 million at the Chevron-operated Gorgon gas project on Barrow Island off the north-west coast of Western Australia.

The price of gold rose on the European spot market on Monday, pushed up slightly by the escalation of the conflict in eastern Ukraine.

BCP Energy International has altered its conditions in its takeover of Nido Petroleum, making the offer nearly unconditional upon 50.1 per cent acceptance.

BHP Billiton and Rio Tinto may be powering ahead, but Australia's mining sector has taken a serious hit in the wake of sliding commodity prices.

The Abbott government is making a new attempt to repeal the mining tax - and axe a suite of associated welfare measures.

Gold Miner Troy Resources has appointed former Singapore-based Sakari Resources head Martin Purvis as its new chief executive officer, after managing director Paul Benson left the company in July.

Subiaco-based Mission NewEnergy has sold its Kuantan Port biodiesel refinery for $24 million to a newly formed joint venture company in which it will retain a 20 per cent stake.

Shares in Perth explorer Empire Oil & Gas have surged after the company said it would buy ERM Power's Western Australian gas assets for $16.3 million.

Palladium closed above $US900 a troy ounce for the first time in more than a decade, extending its recent rally as rising tensions between Russia and Ukraine stoke fears about supply.

Perth-based Paladin Energy has been hit by the weak uranium price, reporting a $338 million net loss for the full year.

Copper and gold miner Sandfire Resources has recorded a slightly less profitable financial year for 2013-14 but declared a maiden dividend of 10 cents per share.

Several former BHP Billiton employees made redundant from their positions at Mount Whaleback mine have engaged law firm Slater & Gordon to fight for their Newman homes amid claims the company altered aspects of its home ownership scheme.

Silver Lake Resources continues to be buffeted by a low gold price, with operating losses at its Murchison operation and impairments dragging it to a $170 million loss.

Maintenance and asset management firm Transfield Services has returned to profit and expects its positive momentum to continue.

Nedlands-based TFS Corporation has achieved a record full-year profit of $82.5 million, up 48 per cent on the back of increased plantation asset ownership.

Oil prices have traded mixed amid renewed tension between Ukraine and Russia and a batch of encouraging US economic reports.

Gold and nickel producer Independence Group has raised its full-year profit by 60.7 per cent to $46.6 million on the back of the production commencement at Tropicana and an improved nickel price in the second half of the year.

Shares in Perth contractor OTOC have surged after it announced it had taken a first step towards creating a national surveying business by acquiring Victorian firm Bosco Jonson for $17 million.

Tiger Resources says it will acquire the remaining 40 per cent shareholding in Société d'Exploitation de Kipoi for $118.6 million, to gain full ownership of its Kipoi copper project.

Gold miner Troy Resources has flagged a net loss of $59.1 million on the back of a $61.2 million asset impairment of its Karouni gold project in Guyana.