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.
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.
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 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.
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.
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.
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.
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.
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.