Troubled iron ore miner BC Iron has sold its majority stake in the Nullagine joint venture to Fortescue Metals Group for just $1, along with some royalty payments.
The Business News index of 30 Western Australian companies outperformed the ASX200 in the September quarter on the back of stronger showings from a handful of miners and contractors.
Fortescue Metals Group has started the search for a new chief financial officer after Stephen Pearce handed in his resignation to pursue an international role, on the same day the iron ore giant announced the appointment of a new director of operations.
Indigenous corporations in Western Australia have experienced a fall in average income for the first time in five years, though the state's largest Aboriginal corporations, listed in the BNiQ Search Engine, have defied the downturn.
The Australian share market lost its early morning gains to close at its lowest level since July on concerns about future stimulus programs by central banks.
Iron ore exporter Fortescue Metals says it will repay $US700 million ($A925 million) of its debt, generating annual interest savings of about $US26 million.
The Australian share market has slumped to a two-month low as investors dumped stocks from all sectors on fears the US Federal Reserve could hike interest rates this month.
The Australian share market has made some solid gains as the prospect of an interest rate hike in the US in September was pared back following some weaker-than-expected US jobs figures on Friday night.
Hong Kong-based Brockman Mining has continued its run of legal victories in its efforts to gain access to Fortescue Metals Group's rail infrastructure.
SPECIAL REPORT: Discussion about a sale of Western Power is taking place against a backdrop of rapid technological change in the sector, as networks brace for an onslaught of competition from battery storage.
Fortescue Metals Group has hoisted its final dividend to a record high after a partial rebound in iron prices and lower costs helped the Pilbara miner more than treble full-year profit.
The share market has closed only modestly higher, despite US markets hitting record levels overnight, weighed down by weakness from market heavyweights Westpac and Telstra.
Brendon Grylls was something of a change-agent when he got the Royalties for Regions policy implemented, but his plan to tax iron ore tonnages has business worried.
A move flagged by National Party leadership challenger Brendon Grylls to effectively double the rate of the royalty paid by the state's two biggest iron ore miners would make Western Australia one of the most punitive jurisdictions for taxes on production of the commodity.
ANALYSIS: Politics and business never mix well, which is something the state government is about to discover with news that former Nationals WA leader Brendon Grylls is eyeing a return to his party's top job.
Local innovators and resources industry professionals, including Karara Mining, Barminco and Fortescue Metals Group, were recognised at two separate awards ceremonies held this week.
Iron ore shipments contributed more than $45 billion to the Western Australian economy in the 12 months to June, a figure well down on last year, according to BNiQ, despite a pick-up in volumes by the state's major producers.
TransAlta Corporation has had a small win in the Supreme Court after successfully defending an entitlements claim by Monadelphous Group, but the engineering firm is still pursuing about $33 million from a joint venture comprising a Pilbara-based subsidiary of the Canadian power utility and DPB Development Group.
WAIITA Incite startup of the year Family Zone is Techboard's top trending startup for this fortnight, after launching a $4.5 million IPO and capturing significant mindshare as a result.
Fortescue Metals Group is targeting further cost reduction in the current fiscal year as it seeks to match the cost structure of larger rival Rio Tinto in an effort to boost returns.
Indian sandalwood producer TFS Corporation has refinanced $US200 million of debt through a note issue overnight in the US, while also raising extra funds for working capital.
Chief executive salaries in WA are continuing to ratchet down, and companies are seeking more flexibility, a study of nearly 30 new appointments this year has found.
SPECIAL REPORT: The dramatic rise and fall of iron ore producers and the recent surge in gold and lithium stocks have been highlighted by a historic review of WA's major listed companies.
Andrew Forrest has lost his battle to stop Yarri Mining from being granted mining tenements on land near the mining magnate's Minderoo cattle station in the Pilbara.
Local contractor Pindan has won the tender for construction of the new $70.7 million marine control tower in Port Hedland, which is one of four major projects worth nearly $800 million at the port.
Western Australian companies have outperformed the broader stock market over the six months to June 30, judging by the performance of Business News' BN30 index.
Fifteen local broking, legal and advisory firms have teamed up to put forward their concerns with the ASX's proposed changes to its listing requirements, and to advocate three particular amendments.
BC Iron has announced settlement of its dispute with former contractor Watpac, with the settlement including a final payment by BC Iron and its joint venture partner Fortescue Metals Group.
EY has named 13 West Australian finalists in its annual Entrepreneur of the Year awards while also announcing Adrian Fini as its latest Champion of Entrepreneurship.
Fortescue Metals Group will lop off another $US500 million ($A665 million) from its debt pile next week, after issuing a repayment notice for part of its 2019 term loan.
Stephen Pearce has been appointed to the board of Fortescue Metals Group, but will retain his current role as chief financial officer of the iron ore giant.
