Cape Lambert Iron Ore says any discussion to acquire more assets remain confidentional and incomplete as reports reveal the company has been in talks over OZ Minerals and CopperCo's assets.
Brisbane-based Intrepid Mines is set to benefit from a full exposure to the gold price as it closes its hedge book for its Paulsens gold mine in Western Australia.
Subiaco-based Red Emperor Resources plans to raise $25 million early next year as it enters into an agreement to acquire a majority stake in a Russian project for nearly $14 million.
Mining and market groups have called the federal government to fast track the implementation of its promised investment incentive scheme that is expected to encourage mineral exploration.
The weaker Australian dollar is expected to provide a buffer for Australia's commodity export earnings, which is forecast to drop by over 10 per cent for the 2009 financial year.
Shares in Andrew-Forrest-led Poseidon Nickel jumped as much as 30 per cent today on news the company had entered into exclusive talks to acquire a "significant" nickel project in Western Australia.
Grange Resources shareholders have overwhelmingly voted in favour of its merger with private Tasmanian magnetite iron ore pellet producer Australian Bulk Minerals.
Rio Tinto appears to have lost its rights to the northern half of a valuable mining concession in Guinea that is intergral to its iron ore production plans.
Nickel miner Albidon says it will slash its mining workforce in Zambia by half and downsize its Perth office as part of cost cutting measures following an operational review.
Western Australia has led the national job decline in November with the unemployment rate jumping up to 3 per cent seasonally adjusted, while economists are tipping the national jobless rate to rise to 5.5 per cent within a year.
Rio Tinto's shares surged over 10 per cent at the start of trade in response to its plans to slash 14,000 jobs, cut spending and costs and sell assets due to the global economic crisis.
THE recent encroachment of Chinese producers into the state's resource sector has brought into question the value of shareholder returns, with cost plus off-take deals playing into Chinese hands.
Perth-based energy group Aviva Corp has terminated its $22 million merger with Canadian coal producer Northern Energy and Mining Inc due to a lower than expected interest in a project.
Nickel miner Mincor Resources says it will suspend operations at its Miitel mine after Christmas as it details cost cutting measures to carry it through the mining downturn.
