Iron ore prices may have softened significantly from about $US130 a tonne during the past year, but that has not stopped local miners ramping up exports.
Mid-tier iron ore miner Mineral Resources has increased its full-year net profit by 28 per cent to $231 million, with the help of a 93 per cent increase in iron ore export volumes.
Mid-tier iron ore miner Mineral Resources' $70 million investment in six new trains has kicked off its stated 20-year commitment to the Yilgarn region.
Driving up the Great Northern Hwy from Midland to Port Hedland, you can't help but marvel at the number of trucks on the road – and be concerned about what lies ahead for wheatbelt communities after the closure of the ‘tier 3' rail lines.
Baosteel and Aurizon are set to take control of Aquila Resources after another major shareholder threw their support behind the $1.4 billion takeover deal.
Aquila Resources' share price has stabilised at just below its $3.40 per share takeover offer, indicating the market is backing Baosteel and Aurizon to succeed with their $1.4 billion takeover.
Technically, Baosteel's $1.4 billion bid for control of Perth-based Aquila Resources is an iron ore deal; but looked at slightly differently and it's also a gold deal, because the Chinese steel gia
Baosteel and Aurizon look set to gain control of Aquila Resources after the iron ore hopeful rejected a takeover proposal from Mineral Resources, and instead recommended its shareholders accept the current $3.40 per share offer.
Aquila Resources and Mineral Resources placed their shares in a trading halt this morning, ahead of an announcement regarding a “potential corporate transaction”, due Wednesday.
In the latest twist for takeover target Aquila Resources, suitor Baosteel said it would not increase its $1.4 billion offer for the iron ore developer and that it would reconsider its 20 per cent shareholding in the company if the bid was unsuccessful.
Mineral Resources announced today that it plans to use its 12 per cent stake in Aquila Resources to push for a role building and operating the proposed $7 billion West Pilbara iron ore project.
The takeover bid for Aquila Resources took an unexpected turn today when a mystery buyer, believed to be Mineral Resources, spent about $192 million buying a large stake in the Perth company, paying well above the bid price.
One month after the state government named an Asciano-led consortium as preferred proponent for a major port expansion at Esperance, it has emerged that one of the key consortium members has withdrawn.
Mines and Petroleum Minister Bill Marmion has flagged new industry safety guidelines in the wake of five mining fatalities in Western Australia in nine months.
Two major events last week highlighted the private sector's desire to deliver new port infrastructure, and it's a trend the Barnett government could take even further.
Mineral Resources director Chris Ellison and TFS Corporation director Stephen Atkinson have sold shares in their respective companies worth a combined $28.2 million.
Shares in cashed-up Moly Mines have slumped after the company's two most senior executives left the business and it admitted it was likely to suspend trading on the ASX after failing to acquire a new business.
Aspiring iron ore miners Flinders Mines and Rutila Resources have joined forces, with backing from private New Zealand company Todd Corporation, to assess the development of an integrated rail and port project in the Pilbara.
Mining services company Mineral Resources is close to implementing ambitious plans to develop new transhipment facilities in the Pilbara and in Cockburn Sound to support growth in iron ore exports.
Iron ore miners in the Pilbara are on track to reach production and shipping targets, despite bad weather hampering operations and affecting some December quarter results.
Mineral Resources has confirmed the sale price of its Christmas Creek plant, saying Fortescue Metals Group will pay around $300 million for the processing facilities.
Fortescue Metals Group has assumed "full operational responsibility" at its Christmas Creek mine after two fatalities in less than five months, announcing it has purchased the mine's ore processing facilities from Mineral Resources subsidiary Crushing Services International.
Iron Ore Holdings had mixed news for shareholders yesterday, with lower costs likely to bolster its major project but heritage issues causing delays at a second project involving Mineral Resources.
Mineral Resources is expecting to defy the mining services downturn, telling shareholders today that it anticipates strong growth in net profit in the current financial year.
Property executives were the big movers in this year's Wealth Creators list, while the resources slowdown put the hurt on mining services directors' fortunes.
A pair of Mineral Resources subsidiaries have made progress on two fronts, one winning a processing plant contract worth an estimated $450 million at Rio Tinto's Nammuldi iron ore mine, while anoth
Mining industry pundits bemoaning the end of the ‘boom' will be pleasantly surprised to know that up to a dozen major projects could go ahead over the coming year.
Iron Ore Holdings is a step closer to kicking off its Iron Valley joint venture with Mineral Resources in the central Pilbara, after receiving approval today from the Department of Mines and Petrol
The appointment of Mineral Resources CEO Chris Ellison as the honorary consul for New Zealand piqued my interest in this unusual role – the official but unpaid representation of a nation.
A slowdown in the mining sector could have positive flow-on effects for employers in other industries, Business News' annual survey of the state's 100 largest employers has found.
Business leader Chris Ellison joins an eclectic elite with his appointment as New Zealand's honorary consul in Western Australia, joining 44 other local representatives of foreign nations in what h
