Architects have a saying about ‘less being more'. The mining industry has flipped that around with ‘more being less', as shown in this week's production reports and share prices of Fortescue Metals and BHP Billiton.
Gold miner Newcrest Mining is expected to post its best earnings figures in years after lifting its profit margins thanks to lower production costs and a weaker Australian dollar.
Fortescue Metals Group's cost cutting is delivering benefits to the iron ore miner, amid wild movements in the price of Australia's key export commodity.
Gold fell more than one per cent to a five year low as a bounce in the US dollar fueled downside momentum, with investors continuing to pull away from the metal after its dramatic slide earlier this week.
A nearly $50 million national research facility opened in Perth yesterday is set to further define Western Australia's place in the world as a resources hub, but has its work cut out for it convincing the public of its benefits according to industry leaders.
After a prodigious drop in exploration spending during the past decade, miners and governments have unveiled a blueprint to kickstart greenfields programs.
Gold miner Silver Lake Resources plans to boost its exploration spending by 60 per cent in the current financial year on the back of a strong improvement in its current and forecast cash position.
Local oil and gas explorer 88 Energy has received firm commitments for a $12 million capital raising to fund ongoing work at its Icewine project in Alaska.
Southern Cross Electrical Engineering shares jumped nearly 13 per cent today to their highest price since March, after the company announced an annual loss but maintained its dividend and was cautiously positive about its outlook.
One of the state's largest Aboriginal trusts is being forced to further tighten its belt as its royalties from Rio Tinto's Yandi iron ore project continue to fall.
In a move to expand its presence in the mining services market, BGC Contracting will be forming a joint venture with South African firm DRA, the two companies announced today.
The engineering arm of property and infrastructure group Lendlease has won a $96 million contract to build BHP Billiton's new tug harbour at Hunt Point in Port Hedland.
BHP Billiton spin-off South32 will write down $US1.9 billion of its manganese and coal businesses after suspending capacity at its South African smelter.
BHP Billiton has beaten its full-year iron ore production guidance but has flagged a hit to its full-year profit of up to $US650 million ($A876 million) due to weakness in its copper business.
Gold has edged higher, the day after it took its deepest dive in years and hit five-year lows, with many dealers bracing for more losses on expectations for a rise in US interest rates and subdued demand from India.
Evolution Mining has recorded record quarterly and annual production on the back of an “outstanding” result at its Edna May mine, adding to the ranks of gold miners to post impressive results this month.
Otto Energy is seeking to participate in exploring for oil and gas in Alaska through a $US4 million ($A5.4 million) investment in Austrian company Borealis Petroleum.
Mining giant BHP Billiton has announced plans to construct a new eight-pen tug harbour at Hunt Point in Port Hedland, as well as purchase six additional tugs, for $US240 million ($A326 million).
KPMG has named the eight businesses it has selected to participate in its recently announced technology accelerator Energise, which will be held in Perth.
Gold prices have plunged more than four per cent to five-year lows as a sudden bout of selling across Shanghai and New York markets during the illiquid early Asian trading hours triggered a mini flash crash, deepening bullion's biggest rout in years.
The market appetite for backdoor listings of tech stocks continues unabated, with Magnolia Resources securing $7 million in funding commitments and Potash Minerals becoming the fifth exploration company from Western Australia to head down the tech path this month.
Kimberley Diamonds has announced that it is injecting $14.6 million into its Lerala diamond mine in Botswana, less than three weeks after it abruptly closed its Ellendale mine with its workers left out pocket.
Atlas Iron managing director David Flanagan has described the results of the iron ore miner's capital raising as an immense vote of confidence in the business, despite achieving just less than half of its $180 million target.
Company director and accountant Graham Anderson, who held positions with about 10 listed companies, has passed away after suffering a heart attack yesterday.
Mining services company Austin Engineering has launched a $31.6 million entitlement offer through broking firms Argonaut and Bell Potter, with the proceeds to be used to reduce debt.
Energy utility owner Duet Group is set to become a bigger player in the WA market, after announcing an agreed $1.4 billion takeover of remote power producer Energy Developments.
Local company Prairie Mining has raised $15 million from UK-based CD Capital for the development of its Lublin coal project, with the potential for the private equity fund to invest a further $68 million.
