Atlas Iron has shrugged off concerns about current market conditions and its thin margins, using its annual general meeting yesterday to remind shareholders of its development track record in an intensely competitive environment as proof it is a survivor committed to doing what it takes.
The City of Geraldton has sold an 8.8-hectare parcel of land for $880,000 to Tersum Energy which expects to spend between $60 million and $80 million to build a 30-megawatt gas fired power station, and is in ongoing negotiations for offtake power.
Melbourne-based gold miner St Barbara has announced plans to appoint former Gindalbie Metals managing director Tim Netscher as chairman, as part of its ongoing board renewal.
White Star Resources has gained backing from Perth businessmen Rod Jones and Brent Stewart, who plan to invest in a $4 million capital raising to support the acquisition of Spookfish and Geospatial Investments.
Buxton Resources has appointed former Fortescue Metals Group exploration and evaluation director Eamon Hannon as its new chief executive officer, as Anthony Maslin steps down as managing director.
Liberty Resources has announced its intention to exit the mining industry by entering into an option agreement to acquire local IT firm Cirrus Networks for an undisclosed amount.
Jolimont-based gold explorer RMG says it will buy its joint venture partner Chile Metals Consulting’s 25 per cent interest in the Tuina copper project in South America for a share package worth $2.4 million.
New Zealand-based Todd Corporation has more than doubled its interest in aspiring Pilbara iron ore miner Rutila Resources to 46 per cent, by electing to convert a $5 million loan into ordinary shares.
Perth engineering firm Clough is targeting small-scale liquefied natural gas (LNG) projects as a new growth area, after signing a ‘teaming’ agreement with global company GE Oil & Gas.
Mining at Mount Gibson Iron’s Koolan Island main pit in the Kimberley has been suspended, after a slump on Friday resulted in an area of instability in the seawall.
Antares Energy has sold its Southern Star project to US-based Breitburn Energy Partners for a $152 million cash and share package, after spending the past 14 months attempting to offload its Permian Basin asset.
The demand for support and education for fly-in, fly-out workers shows no signs of slowing down, with FIFO Families outsourcing components of its operations to cope with its rapid growth.
Subiaco-based metals explorer TNG has secured $5 million through a placement to fund the definitive feasibility study on its Mount Peake vanadium-titanium-iron project in the Northern Territory.
Mining contractor Macmahon Holdings has again extended talks with Mongolian government-owned coal miner Erdenes Tavan Tolgoi concerning $30 million it is owed in overdue payments.
The weak iron ore price has cast a shadow over the state government’s asset sales agenda and raised concerns the commodity’s slump will affect the sale price for the Kwinana Bulk Terminal and the Utah Point port.
Peak Resources says it has received an investment proposal from International Finance Corporation, which wants to join a consortium with Appian Natural Resources Fund in its $US25 million funding deal.
