Andrew Forrest has emerged as a surprise backer of Energy and Minerals Australia, taking a major stake in the Perth-based uranium explorer through a much-needed $12 million investment. EMA has also struck a debt-for-equity swap with its noteholders.
Continued growth of the Pilbara as an export-focused iron ore province received a huge boost today when Chinese steel giant Baosteel and Australian railway operator Aurizon teamed up to bid for the Perth company behind a $6 billion port and rail project.
Shares in junior explorer Padbury Mining have plunged as the company resumed trade and revealed details of its short-lived $US6.47 billion ($6.89 billion) equity funding deal to construct a port and rail network at Oakajee.
Brierty and three Aboriginal contracting firms have won a $300 million contract with Rio Tinto to complete mining and civil works on a project in the Pilbara.
Mirabela Nickel has reported a 14 per cent drop in nickel production for the March quarter as the cash strapped company seeks to undertake a complex restructuring.
Perth-based mining and exploration company Mindax will reduce its board membership from six down to four as a part of a company restructuring effort designed to minimise costs.
Chevron Australia managing director Roy Krzywosinski and Rio Tinto Iron Ore chief executive Andrew Harding have joined some of Australia’s top business leaders in being honoured by the American Australian Association.
Woodside chief executive Peter Coleman has urged the company’s shareholders to be patient, as it works through multiple challenges affecting its growth projects and its operating costs in Australia.
Less than three weeks after announcing it had secured $US6.47 billion ($6.89 billion) in equity funding to construct a port and rail network at Oakajee, junior explorer Padbury Mining says the deal is now dead.
Perth-based miner Aditya Birla Minerals disclosed today it has stood down the majority of employees at its Nifty copper mine as it continues to investigate suspected ground subsidence.
Galaxy Resources has agreed to sell its Jiangsu lithium carbonate plant in China to Sichuan Tianqi Lithium Industries in a deal worth about $249 million.
The Perth Mint is set to spend $16 million to expand its manufacturing facilities, in response to increasing demand for bullion and precious metal blanks, which are used to make coins.
Troy Resources managing director and chief executive Paul Benson has given notice of his resignation after nearly seven years at the head of the gold and silver producer.
Troy Resources has warned it may not reach its financial year production target at its Casposo gold and silver mine in Argentina amid setbacks in accessing high grade ore sections.
BC Iron has beaten iron ore sales guidance from its Nullagine joint venture for the March quarter despite lower than anticipated production in the period.
