SPECIAL REPORT: The potential for mass production of electric cars is among a number of high-technology trends sparking interest in Western Australia's lithium sector, with a series of companies touting projects to meet a forecast surge in demand.
Perth companies Neometals and Mineral Resources have marked the start of construction at the Mt Marion lithium project, with first production targeted for mid-2016.
Australia is likely to emerge as the clear leader in global lithium production after Perth companies Neometals and Mineral Resources today announced an offtake and funding agreement with a Chinese producer for the planned Mt Marion mine.
Metals X is aiming to become one of Western Australia's biggest gold miners after announcing updated plans to develop its Central Murchison project, with mining to set to commence in July this year.
West Perth-based miner Metals X has reported a 332 per cent full-year profit increase to $37.4 million, alongside a 247 per cent surge in revenue to $238.6 million.
Perth exploration firm Hannans Reward has entered into a joint venture agreement with Reed Resources for 20 per cent interest in its Lake Johnston nickel sulphide project west of Norseman.
Metals X has been forced to increase the price it is paying for Reed Resources' Meekatharra gold project to $9.9 million after administrators announced a surprise competing bid had been lodged just before a creditors meeting on Thursday.
Metals X has bought the Meekatharra gold operations for $7.7 million less than a year after the holding company – a subsidiary of Reed Resources – was placed into the hands of administrators.
Mining and engineering contractors were the biggest losers today when the S&P Dow Jones rebalanced all of its Australian indices, with RCR Tomlinson one of the few to buck the trend.
Reed Resources has announced a $26 million write-down following the collapse of a potential sale by the administrators of the company's Meekatharra gold project.
Struggling miner Reed Resources has agreed to sell its Comet Vale gold project to a private bidder for $2 million, about a third of the price offered by Crest Minerals in its terminated bid for the project last year.
Reed Resources chief executive Luke Tonkin has tendered his resignation, after just more than 14 months at the helm of the struggling gold miner, which also detailed $70 million of asset impairment
Power generator Pacific Energy has reported record earnings for FY2013 but revised down its earnings guidance for the current financial year after being hit by project closures and the general slow
Gold miner Reed Resources has launched a full review of its operations after seeking a voluntary suspension of its shares, one trading day after its Meekatharra gold project was placed into adminis
Two more miners are feeling the squeeze in the state's gold sector, with Reed Resources and PMI Gold announcing plans to cut costs, reduce staff and defer project development spending.
Gold miner Reed Resources has announced a series of operational setbacks at its recently opened Meeekatharra operation, triggering a slump in its share price to a new closing low of 3.7 cents.
Junior mining stocks Crest Minerals and Avalon Minerals have announced they will not be proceeding with planned acquisitions, after failing to get the backing of investors.
One of Western Australia's most prolific residential builders, Dale Alcock, is the latest high-profile CEO to help tackle the issue of homelessness by committing to the St Vincent de Paul Society's
Reed Resources has struck a deal with Crest Minerals over the Comet Vale gold project near Kalgoorlie, which is anticipated to be brought back online next year.
Reed Resources has launched a $10 million placement and share purchase plan, to boost working capital as it moves towards start-up at its Meekatharra gold project.
Mineral Resources and Reed Resources are considering floating a new lithium company to develop the Mt Marion project, approximately 40 kilometres south-west of Kalgoorlie-Boulder.
Diversified junior explorer Reed Resources has announced a discounted $40 million capital raising to fund the purchase of the recently acquired Meekatharra gold project.
Reed Resources and joint venture partner Mineral Resources have agreed to amend the ownership structure of the Mt Marion lithium project to achieve a greater alignment of interests for the downstream processing of the minerals for use in batteries.
Reed Resources and its joint venture partner, Mineral Resources, have received final approval to commence construction of the Mt Marion lithium project near Kalgoorlie.
Reed Resources has appointed Gresham Advisory Partners to advise it in relation to several approaches the company has received for its Mount Marion Lithium project near Kalgoorlie.
Reed Resources has entered into an agreement with Chinese conglomerate China Nonferrous Metal Industry's Foreign Engineering and Construction (NFC) for its Barrambie Vanadium Project.
Reed Resources has completed a $7.5 million capital raising through a placement and will use the money to develop several of its projects including the Mt Marion lithium downstream processing project.
