BCI Minerals has confirmed it is in discussions with multiple parties over the sale of its Pilbara iron ore assets, including three current producers and one aspiring port developer.
A strong run over the past month from listed companies Mineral Resources, Woodside Petroleum and Seven Group Holdings has helped push Business News' index of 30 local stocks to a record high this week.
Gina Rinehart's Hancock Prospecting has conditionally upped its takeover offer for Atlas Iron in a bid to win over Fortescue Metals Group, which holds a blocking stake.
Mineral Resources has continued to diversify its interests, taking a $2 million stake in West Perth-based Barra Resources, which is developing the Mt Thirsty cobalt project near Norseman.
Pacific Energy has added a 17-megawatt power station to its recent contract at Mineral Resources' Wodgina lithium project, taking the total contract value to $30 million.
Chris Ellison-led Mineral Resources has posted a big increase in profit to $272 million for the 2018 financial year, helped by a strong performance in the company's mining services division.
Nearly 140 major projects are either under way or planned for WA, new research by Business News has found. Click through to access the new list on the BNiQ Search Engine.
The loss of iron ore haulage contracts with Cliffs Natural Resources and Mount Gibson Iron is expected to dent rail operator Aurizon's earnings by about $50 million in the 2019 financial year.
Fortescue Metals Group has reduced its stake in Atlas Iron but crucially still holds more than 10 per cent, meaning Gina Rinehart's Hancock Prospecting will not be able to acquire full ownership of the takeover target.
Mineral Resources and Brockman Mining have announced plans to jointly develop a major iron ore mine that will underpin construction of a new rail line and port facilities at Port Hedland.
Mineral Resources has for the first time revealed the cost of two major projects, saying it will spend $610 million building its lithium concentrate processing plant, which is due to start production later this year, and up to $1.6 billion on its proposed lightweight rail system.
Lithium advocates have been cautioned to separate facts from hype as it is not yet clear if battery manufacturing in Western Australia will be practical, although refining plans should proceed immediately, according to Mckinsey & Co partner Prabhav Sharma.
Mineral Resources' diversification strategy continues to gain ground as its joint venture with Hexagon Resources has begun a feasibility study at the McIntosh graphite project in the Kimberley.
SPECIAL REPORT: Battery metals businesses such as Pilbara Minerals, Altura Mining, and Western Areas have joined AusCann Holdings, Buru Energy and OM Holdings among the best-performing stocks in the year to June.
The future of Atlas Iron has been further muddied today after the takeover target said the state government had indicated to media it could compromise on its policy regarding development rights at Port Hedland if either Fortescue Metals Group or Hancock Prospecting takes control of the junior miner.
Three weeks after acquiring a strategic blocking stake in Atlas Iron, Fortescue Metals Group has for the first time confirmed that its main interest in the takeover target is the rights to develop new berths at Port Hedland.
Chris Ellison-led Mineral Resources has decided against making a counter offer to Gina Rinehart's $390 million takeover bid for junior miner Atlas Iron.
Atlas Iron has disclosed it no longer holds exclusive port development rights at Port Hedland that were central to the takeover battle that has involved three mining heavyweights buying shares in the company.
Mineral Resources has struck a deal to purchase the Koolyanobbing iron ore mine from US-based Cleveland Cliffs, after getting support from the state government and railway owner Arc Infrastructure for a deal that will save up to 400 jobs around Southern Cross and Esperance.
Gina Rinehart's Hancock Prospecting has acquired a 19.6 per cent shareholding in takeover target Atlas Iron, joining Mineral Resources and Fortescue Metals Group in the battle for control of the mid-cap iron ore miner.
Shares in Ausdrill slumped more than 20 per cent today after the mining services company said its $180 million contract at Mineral Resources' Wodgina lithium project was set to halve in value.
Mineral Resources has agreed to allow takeover target Atlas Iron to enter discussions with other parties, one day after the Andrew Forrest-chaired Fortescue Metals Group purchased a blocking stake in the junior iron ore miner.
Andrew Forrest-chaired Fortescue Metals Group has taken a surprise 19.9 per cent stake in Atlas Iron, and says it will block the $280 million takeover proposed by diversified mining services business Mineral Resources.
Mineral Resources has forecast a capital expenditure of $US600 million ($792 million) to build two lithium hydroxide processing modules at its Wodgina mine in the Pilbara, after announcing plans to sell a minority stake in the project earlier this month.
Iron ore maganates Gina Rinehart and Andrew Forrest remain in the top 10 of the nation's wealthiest people, according to the 2018 AFR Rich List, which included 20 Western Australians out of 200 people listed this year.
A long-mooted port development at Lumsden Point adjacent to existing operations at Port Hedland has taken a step forward with the Pilbara Ports Authority opening expressions of interest for potential investors in the project.
Business News' index of 30 Western Australian stocks hit an all-time high this week, helped by solid gains by copper miner Sandfire Resources, oil and gas giant Woodside Petroleum and engineering and construction contractor Monadelphous Group.
Atlas Iron will record a non-cash impairment of up to $100 million in its full-year results after rising costs led to an operating loss in its third quarter.
Kwinana has been selected as the site for what is likely to be the fourth lithium refinery in Western Australia, with investment in the boom sector estimated to exceed $4 billion in the next few years.
Applecross-based Mineral Resources is looking to sell a 49 per cent stake in its Wodgina lithium project, as work to investigate the feasibility of a lithium hydroxide or carbonate processing plant at the site continues.
