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Mining

Asic challenges Forrest's Poseidon deal

The corporate regulator has objected to an underwriting deal under which Andrew Forrest’s Squadron Resources could end up with as much as 61 per cent of Poseidon Nickel.

Hancock raises Atlas offer to $413m

Gina Rinehart's Hancock Prospecting has conditionally upped its takeover offer for Atlas Iron in a bid to win over Fortescue Metals Group, which holds a blocking stake.

Texas miner continues local nickel pursuit

Panoramic Resources has agreed to sell the Lanfranchi nickel project for $15 million to Texas-based Black Mountain Metals, showing the American business is still on the hunt for nickel opportunities in Western Australia.

RCT launches new mining tech

Kewdale-based RCT has installed its latest technology at AngloGold Ashanti’s Sunrise Dam gold mine, which gives an operator control of numerous machines from a singular station.

$5m IPO for nickel, cobalt hopeful

Shares in nickel and cobalt hopeful Aldoro Resources will begin trading on the ASX tomorrow, after a $5 million initial public offering.

Volt Power loses biggest client

ASX-listed Volt Power Group has suffered a major setback after BHP suspended its long-runing service relationship with wholly-owned subsidiary Wescone Distribution, less than a year after Volt bought Wescone.

Aus Mines' $US12m deal for cobalt work

Perth-based Australian Mines has secured a $US12 million convertible note facility with a New York fund, as it seeks to continue development of a Queensland cobalt project and completes the acquisition of a second cobalt deposit.

Altura in $US15m debt raise

Lithium producer Altura Mining has secured an additional $US15 million of debt funding to support a second stage expansion and the ongoing ramp-up of its Pilgangoora operation, after officially opening the project last week.

MinRes takes position in cobalt hopeful

Mineral Resources has continued to diversify its interests, taking a $2 million stake in West Perth-based Barra Resources, which is developing the Mt Thirsty cobalt project near Norseman.

Todd to raise $4.2m

Subiaco-based copper hopeful Todd River Resources plans to raise $4.2 million for drilling work at its Mt Hendy discovery in the Northern Territory.

RDG plans $15m gold buy

Resource Development Group has announced plans to acquire a 30 per cent stake in a gold project from Bullseye Mining, which is currently the subject of a takeover offer and board spill.

Ramelius lobs $59m Explaurum bid

Ramelius Resources has launched a $59.2 million hostile takeover bid for exploration company Explaurum, which is aiming to develop its Tampia Hill gold project in the Wheatbelt.

Thiess wins $190m Leinster contract

CIMIC Group subsidiary Thiess has won a $190 million contract extension for mining services at BHP Billiton Nickel West’s Leinster underground mine, where it has operated since 2016.

Peel to raise $12m

Junior explorer Peel Mining has raised $12.3 million, with gold miner St Barbara subscribing for $1.8 million as part of the placement.

Resolute appoints Shugg

Gold producer Resolute Mining has appointed Sabina Shugg as a non-executive director, while new data from the Australian Institute of Company Directors has revealed an uptick in female participation on ASX 200 boards.

Barminco locks in $700m extension

Barminco has secured a five-year extension to its mining services contract at AngloGold Ashanti’s Sunrise Dam gold mine, worth about $700 million.

Pantoro to raise $15m

Gold producer Pantoro has announced a capital raising for up to $15 million as the company aims to expand production at its Halls Creek operation to 80,000 ounces in 2019.

Coolgardie signs $10m sales deal

Newly-listed Coolgardie Minerals has signed an ore sale agreement with Northern Star Resources for production from its Geko gold mine, which is set to come online next month.

Altura mine WA’s seventh as lithium players dig in

The opening of Altura Mining’s Pilgangoora operation last week provides a good opportunity to evaluate the state of the local lithium industry.

Unlocking stranded gold

Smaller gold miners are among the potential beneficiaries of a new technique for gold extraction being developed in WA.

POZ to bid for Ellendale diamond mine

POZ Minerals, which operates the Blina diamond project in the Kimberley, has announced it will bid in the state government’s tender to reopen the neighbouring Ellendale mine.

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