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Mining

Breaker raises $11m

Breaker Resources has tapped investors for $10.5 million to progress a study at its Lake Roe gold project east of Kalgoorlie.

Court blocks FMG report access

Fortescue Metals Group has failed to get its hands on a crucial engineering report at the heart of a legal dispute with Canadian company TransAlta Corporation.

Poseidon flags board changes

Poseidon Nickel has announced the resignations of long-time board members David Singleton and Chris Indermaur, with their replacements coming from major shareholders Black Mountain Metal and Squadron Resources.

Rio approves $2.1bn iron ore spend

Rio Tinto and its joint venture partners have given the green light to invest $2.1 billion across two iron ore projects that will employ 1,200 people in the Pilbara.

Regis pulls pin on Capricorn deal

Regis Resources has withdrawn its $85.3 million takeover proposal for Capricorn Metals, after the gold aspirant’s largest shareholder, Hawke’s Point, rejected the indicative deal.

FMG sells off Atlas stake

Fortescue Metals Group has sold its blocking stake in Atlas Iron, after Gina Rinehart’s Hancock Prospecting increased its takeover offer for a second time last week.

Civmec expands maintenance contracts

Henderson-based Civmec will start a maintenance services contract with iron ore miner Roy Hill Holdings next month, building on work it is undertaking for major players Rio Tinto, Alcoa of Australia and Fortescue Metals Group.

Eastern Goldfields secures $75m recapitalisation

Struggling gold producer Eastern Goldfields has announced a $75 million recapitalisation deal and board overhaul led by private mining services company Adaman Resources.

Tawana secures $40m funding deal

Lithium producer Tawana Resources has secured a $40 million funding package with a consortium led by Tribeca Investment Partners, with its planned merger with joint venture partner Alliance Mineral Assets expected to be completed in November.

Grounded in $15m Iluka project

West Perth-based Grounded Construction Group is nearing completion of a $15 million project to install two mining villages for Iluka Resources’ Cataby mineral sands project north of Perth.

Vanadium players mark potential

Improving market conditions have led to positive news for a number of local vanadium outfits.

‘The Hulk’ cuts through on mental health

Contractors Macmahon Holdings and AK Evans Earthmoving have found different ways to bolster mental health programs.

Black Rock signs graphite agreement

Black Rock Mining has signed a strategic agreement with a Chinese machinery company to supply plant equipment and source up to $US40 million ($55 million) for the graphite explorer’s Mahenge project in Tanzania.

Blackham in $23m deal

Gold producer Blackham Resources has announced a $23 million funding deal with New York-based fund manager The Lind Partners to repay lender Orion and finalise an expansion study for the Wiluna project.

Executives perform for $38.7m share

Twenty local executives acquired $38 million of shares at no cost over the past 3 months, research by Business News has found.

$100m for Oakajee, Sundance projects

A private Chinese company is planning to invest $100 million in two major iron ore projects that have been dormant for the best part of a decade - the Oakajee port in WA's Mid West and Sundance Resources' Mbalam Nabeba mine in Cameroon.

WA prospector finds $110k gold nugget

A massive gold nugget worth at least $110,000 has been uncovered by a prospector in the northern Goldfields, weeks after Canadian gold miner RNC Minerals made an even bigger discovery near Kambalda.

Rolek plans $5m IPO

West Perth-based Rolek Resources has launched a $5 million initial public offering, with the company planning a backdoor listing via Shaw River Manganese.

Tribune, Rand flag $250m payout

Shares in local gold stocks Tribune Resources and Rand Mining have soared today, after each announced special dividends worth a combined $250 million, following an adverse ruling by the Takeovers Panel on Monday.

Sheffield gains on funding deal

Shares in mineral sands-aspirant Sheffield Resources touched an all-time high today after the federal government approved a $95 million debt facility to develop the company’s Thunderbird project in the Kimberley.

AIC in takeover deal

Joseph El-Raghy-led AIC Resources has agreed to a reverse takeover deal with NSW-based Intrepid Mines.

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