News Articles for Mineral Resources

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.

A couple of smaller miners that rode out the slide in iron ore prices could be the early movers in a more widespread revival in the sector.

Lithium projects in Western Australia are set to inject almost $1 billion of new investment into the state's economy as the past year's surge in commodity prices and stock valuations turn into tangible commercial benefits.

Mineral Resources and Pilbara Minerals continue to lock horns over an offtake agreement for lithium mined at the Pilgangoora project, with the companies exchanging words over the ASX today.

Mineral Resources is a step closer to developing its bulk ore transport system (BOTS) in the Pilbara after the project was recommended for approval by the environmental watchdog.

The Environmental Protection Authority has recommended approval of global miner Cliffs Natural Resources' plans to extend its Koolyanobbing iron ore operations, as Mineral Resources continues to seek approval for its own expansion plans in the same region.

Diversified business Mineral Resources has increased the size of its dividend payout on the back of an improved underlying profit and despite a statutory net loss.

Peter McBain has stepped down as chief executive of mining and civil contractor Brierty after a series of financial and operational setbacks, and will be replaced by the company's chief operating officer.

Some users may have welcomed the removal of the port enhancement charge at Geraldton, but it may not be smooth sailing for all.

Shares in Tawana Resources were up 84 per cent today as the company moved focus from iron ore to lithium, while three more Western Australian companies announced new moves in the lithium sector as keen market interest in the metal continues.

Lithium hopeful Pilbara Minerals has scored an $18 million equity injection, offtake agreement and downstream processing deal with an unnamed Chinese company.

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.

Mineral Resources has bolstered its new relationship with Empire Oil & Gas, offering a $15.1 million facility to replace a previous deal with Viburnum Capital.

The state government has extended its discounted charges at the Utah Point bulk handling facility by another year, to help junior miners continue exporting iron ore, as debate around the sale of the port continues.

Mineral Resources was coy about its plans after today announcing it has agreed to buy mining tenements, including lithium deposits, and infrastructure at the Wodgina tantalum mine, which is owned by private group Global Advanced Metals.

Mineral Resources chairman Peter Wade has sold down a majority of his shareholding in the mining and contracting group, pocketing about $8.04 million.

Women are being appointed to ASX200 boards at a faster rate than ever, but a number of major Western Australian companies remain without any female representation on their boards.

Iron ore miner Mineral Resources has added another string to its bow, taking a 19.3 per cent stake in domestic gas supplier Empire Oil & Gas, a week after the company increased its slice of the Mt Marion lithium project.

Mineral Resources has upped its stake in the Mt Marion lithium project, one of the state's few mining operations under construction, to see out a week that had a series of deals for the metal.

Chinese manufacturer Ganfeng Lithium has more than doubled its offtake agreement with Mineral Resources and Neometals for the Mt Marion project, as interest in the commodity continues to build.

Fortescue Metals Group has broken BHP Billiton's monopoly on tug services at Port Hedland, after being named the successful bidder for a second towage licence at what is the world's biggest bulk export port.

With a strong focus on cutting costs in mining, many WA small businesses are developing ways to dig up resources smarter and cheaper.

SPECIAL REPORT: There's no doubt the boom has come to an end, but plenty of opportunities and projects remain in play.

The worst might be over for many of the state's mining services businesses, as they seek to bounce back from the effects of the slowdown in resources project development.

John McGloin and Alex Davidson, who were formerly directors of Amara Mining, have been appointed as non executive directors of Perseus Mining.

The founder of GR Engineering Services and long-serving director of Mineral Resources, Joe Ricciardo, has retired for undisclosed personal reasons.

A group of 30 Western Australian stocks selected by Business News has significantly outperformed the ASX200 in the March quarter, indicating stock investors are optimistic about the state's economic future.

Fortescue Metals Group plans to move to a full owner-operator model at its Christmas Creek mining operations after Downer EDI's contract expires at the end of September.

Smaller iron ore miners were the big winners today after the iron ore price surged overnight, whereas Fortescue Metals Group failed to sustain Monday's big gains despite announcing a joint venture

James Mactier has been appointed to the board of Regis Resources as a non-executive director.

Shares in miner and contractor Mineral Resources were up 13 per cent today after it announced dividends of 8.5 cents per share, about 60 per cent larger than what it committed to in November.

Neometals shares have closed more than 9 per cent higher on news its Mt Marion joint venture partner Jiangxi Ganfeng has exercised its option to acquire an additional 18 per cent in the lithium project for $US27 million.

Western Australia's highest paid mining contractor is set to lose that title, after NRW Holdings joined most of its peers in cutting the salary of its chief executive by 40 per cent.

SPECIAL REPORT: Funding for WA's tech sector is much healthier than a recent government-backed report concluded, research by Business News has found.

BC Iron shares plummeted today after the company announced production at the Nullagine joint venture would be suspended as a result of the weak iron ore price, with more than 200 jobs at risk.

A lack of vision from Perth planners of decades past has hamstrung efforts to get the most out of Perth's rail system.

SPECIAL REPORT: The 2015 CEO salary survey has some surprising names near the top of the list while some of the state's best chief executives are unexpectedly low down.

With the iron ore price falling to nearly $US40 per tonne, analysts can't see an end to the pain any time soon.

Perth technology company Hazer Group wrapped up its first day of trading on the ASX, after completing a $5 million initial public offering.

Innovation isn't just a buzzword drummed up by the new regime in Canberra.