Mining services company Ausdrill may be $8 million out-of-pocket after Western Desert Resources announced it had fallen into the hands of administrators on Friday.
FEATURE: Les Davis and Bill Beament are two of the Western Australian gold industry’s most influential people, but the person who has infinitely more power over gold in WA than the chief executives of Silver Lake and Northern Star doesn’t live here.
FEATURE: If the adage ‘three strikes and you’re out’ applied to the gold mining industry, the curtains would already have been drawn; but some determined locals are fighting on.
Graphite explorer Uranex has signed a memorandum of understanding for an off-take agreement with the China-based Sinosteel Liaoning and Dalian InterContinental New Materials Corporation joint venture.
Engineering and project services firm Clough says its AMEC joint venture has been awarded a $70 million contract for Arrow Energy’s Bowen gas project in Queensland.
Speculation is mounting that Apache Energy is set to spin-out its Western Australian assets into a separate entity, with Macquarie Capital Advisers appointed to act on its behalf.
Copper-gold explorer AusAmerican Mining is set to add an operating copper-lead-zinc mine and a major copper development project in the Republic of Congo to its portfolio of assets, with the transaction worth $US49 million.
Perth-based coal miner Ascot Resources has received commitments from global commodity trader Gunvor Group for a $5 million equity capital investment in its $11.2 million raising.
Court action filed by both Santos and Apache is set to continue in the Western Australian Supreme Court over several disagreements relating to a joint venture of gas fields offshore in the Carnarvon basin.
Leading mining lawyer Michael Blakiston has criticised Premier Colin Barnett's comments urging African mining leaders not to be intimidated by global mining companies and to ensure their citizens received a fair return for their resource exploitation.
Paladin Energy has backed its decision to place its Kayelekera uranium plant on care and maintenance in February and says the market fundamentals needed to restore it to economic production are now heading in the right direction.
Perth-based Marine safety equipment developer Mobilarm has signed a $1.8 million rental contract for the supply of the new sMRT V100 beacon and sMRT life jacket to the international fleet of geoscience organisation Polarcus DMCC.
Energia Minerals’ shares have jumped by nearly 30 per cent on the news that Euroz Securities and new investors had completed due diligence on its Gorno zinc project and confirmed that they would proceed with the $8.15 million funding package, which was announced last week.
Perth explorer Buxton Resources has made plans to raise $2.6 million to fund drilling at its Yalbra graphite project in Western Australia, along Oaktree North and Zanthus Ni-Cu projects in the Fraser Range.
Shares in Poseidon Nickel have surged after it announced it had agreed to buy Norilsk Nickel’s Lake Johnston nickel project, located west of Norseman, for an undisclosed amount.
Iron ore explorer Sundance Resources says it has raised $40 million through a subscription for its convertible notes and options by resources investor Gennadiy Bogolyubov.
