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Mining

Resolute, Westgold invest $26m in junior explorers

Two local gold miners have announced equity investments in junior explorers today, with Resolute Mining investing $22.5 million in Canadian company Orca Gold while Westgold Resources has taken a 15 per cent stake in Musgrave Minerals.

Independence sells Jaguar for $73m

Independence Group has agreed to sell its Jaguar base metals operation near Leonora for $73.2 million to diversified investment company Washington H. Soul Pattinson and Company.

Fortescue to invest $1.7bn in new mine

Iron ore miner Fortescue Metals Group has approved development of its Eliwana mine and rail project in the Pilbara, which has an estimated $US1.28 billion ($1.7 billion) capital cost.

Ausdrill JV secures $US211m contract

A joint venture between Ausdrill and Barminco has secured a mining services contract worth $US211 million ($280 million) for the Siou mine in Burkina Faso.

Perilya, Creasy invest $19m in Myanmar

Chinese-owned mining company Perilya will take a 20 per cent stake in Myanmar Metals as part of a planned capital raising worth up to $35 million to fund its share of the Bawdwin base metals project.

Rinehart and Forrest top WA rich listers

Iron ore maganates Gina Rinehart and Andrew Forrest remain in the top 10 of the nation’s wealthiest people, according to the 2018 AFR Rich List, which included 20 Western Australians out of 200 people listed this year.

McGowan sets up lithium taskforce

Moves to encourage downstream lithium processing in Western Australia continued today, with the state government announcing a taskforce to develop a strategy for the sector.

Caravel board resigns

Caravel Minerals has announced the resignation of its entire board today, while the outgoing directors have agreed to withdraw legal proceedings against incoming director Alasdair Cooke.

Battery plant rumoured for Wesfarmers

Interest is growing in Kwinana as a possible battery manufacturing hub, with Wesfarmers mooted to be considering a move into the sector and representatives from US electric car manufacturer Tesla in Perth to meet with Premier Mark McGowan today.

BGC cuts Perth staff

BGC Contracting has announced personnel cuts within its Perth head office as part of a restructure that will also move its mining chief operating officer to Brisbane as the company shifts its focus to the east coast.

Resources tech ripe for startups

The startup space supporting the resources sector is Australia’s game to lose, according to Unearthed director Justin Strharsky, but vision and wise investment are needed amid growing competition.

Titan raises $11m

Titan Minerals has announced an $11 million capital raising to fund the purchase of a processing plant and exploration work at its Torrecillas and San Santiago projects in Peru.

De Grey in $6m raising

De Grey Mining has raised $6 million, with ASX-listed DGO Gold investing $5 million in the placement, to expand exploration work at the company’s Pilbara gold project.

Concerns for local lithium if Musk’s Tesla tanks

Recent comments by Tesla’s Elon Musk, and his company’s price dive immediately after, will be of interest to the state’s lithium miners.

Pilbara Ports moves on Lumsden Point facility

A long-mooted port development at Lumsden Point adjacent to existing operations at Port Hedland has taken a step forward with the Pilbara Ports Authority opening expressions of interest for potential investors in the project.

Paringa raises $30m

Shares in the Ian Middlemas-led Paringa Resources fell sharply today after the company completed a $30.2 million capital raising at a heavily discounted price of 22 cents per share, with the proceeds to fund construction of its Poplar Grove coal mine located in the US.

Antipa in $7m raising

West Perth-based Antipa Minerals has announced a capital raising of $3.3 million, and is planning an entitlement offer for an additional $4.3 million, with the funds to be spent on exploration work at the company’s projects in the Paterson region of Western Australia.

Confidence in China relationship

Australian businesses can be confident that strong personal relationships with their partners in China can help overcome any short-term problems between the governments of the two countries, according to two local business executives with close ties to the Asian powerhouse.

$9m BHP win for Minetec

Bibra Lake-based Minetec has been awarded a $9.5 million contract to supply BHP’s Olympic Dam mine in South Australia with an underground fleet management system, while the tech firm’s parent company, Codan, has posted a profit upgrade.

Rio's driverless trains gain approval

Rio Tinto’s autonomous train program at its iron ore operations is one step closer to full implementation after it received approval from the National Rail Safety Regulator.

Battery in $20m raising

David Flanagan-led Battery Minerals has boosted its coffers with a $20 million capital raising to fund construction of its Montepuez graphite project in Mozambique.

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