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Palladium slumped more than seven per cent overnight, adding to the previous session's sharp slide, on concerns an economic slowdown could dent demand and as a weak technical picture pushed investors to book profits after a record run.

Oil futures were near flat overnight after recovering from the day's worst losses that came when US President Donald Trump called for OPEC to boost crude output in an effort to lower prices that were headed for their best quarterly gains in a decade.

Albany and Bunbury Ring Roads, Fremantle Traffic Bridge, and an extension of Tonkin Highway were among the list of local road projects to receive $1.6 billion of funding from Prime Minister Scott Morrison in Perth today.

Australian shares have bounced back with an afternoon rally that lifted every sector.

Construction has officially commenced at Albemarle Corporation's Kemerton lithium plant, which is expected to cost in excess of $1 billion and create 500 construction jobs and another 500 operational jobs in the south-west of Western Australia.

Pilbara Minerals has announced it is considering selling between 20 per cent and 49 per cent of its Pilgangoora lithium project, as it declared commercial production from the processing plant.

Industrial assets across Perth have become increasingly sought after, with plunging vacancies expected to accelerate sales activity throughout 2019.

Monadelphous has won a second contract for BHP Group's South Flank iron ore project, just over a month after it secured an $108 million contract at the site.

Struggling gold miner Gascoyne Resources has announced a share placement and rights issue at a 50 per cent discount to its previous closing price, as it seeks to pay down some of its mounting debts.

The McGowan government has brought a sudden end to long-running plans for a $28 million wave park on the Swan River, ironically just one day after the Tourism Council WA complained that the wave park was one of 16 new tourist experiences being held up by government red tape.

Tennis Australia and Tourism Minister Paul Papalia have today officially confirmed the demise of the Hopman Cup, to be replaced by a men's ATP Cup from January next year.

Free to read: As WA's tech sector continues to develop, Business News spoke to some of the people helping Perth's entrepreneurs score wins in global markets.

Free to read: Easier movement of goods, capital and people driven by improved technology and economic reform have helped an isolated region become one of the wealthiest in the world. We've collated highlights of how WA connects into the global marketplace.

Free to read: Western Australia has been home to mining for centuries, evolving from ochre pits excavated by Aboriginal peoples for rituals, art and ceremonies, to a high-tech industry that can economically supply enormous quantities of resources worldwide. Global leadership in innovation and technology adoption has supported this growth. Here are seven of the best local examples.

Free to read: The Square Kilometre Array will provide a boost for science in WA, but there was a point nearly a decade ago where the project could have been lost to the state.

Over the years, WA business has finessed its offering, from commodities to services, the arts and sophisticated technologies.

As editor of Business News, I'm delighted to introduce a new feature that highlights the best of Western Australia. Great for the State is a 12-page lift-out that will be published each month over the course of 2019.

Geopacific Resources has raised $4.3 million via a share placement, with the funds set to advance due diligence in relation to the financing of its $198.5 million Woodlark gold project.

The independent directors of Sydney-based Riversdale Resources have urged shareholders to reject the $2.20 per-share offer lobbed by Gina Rinehart's Hancock Prospecting last month.

Tropicana gold project joint venture partners AngloGold Ashanti and Independence Group have approved the development of a new underground mine at a cost of $105 million.

Curtin University and a French research institute are sharing expertise across a range of disciplines related to the defence sector.

Congested roads around Perth will benefit from $1.6 billion worth of road and rail projects across Western Australia, as Scott Morrison tries to woo voters in the west.

Australian shares have moved marginally lower, with miners and utilities the only sectors of the market able to eke out gains.

Rare earths key to minerals strategy

Oil prices slumped overnight after government data showed US crude inventories grew more than expected last week as a Texas chemical spill hampered exports.

Palladium prices plummeted about 7 per cent overnight - the biggest daily percentage drop in more than two years - as investors worried that prices had risen too far too fast and breaks below technical levels triggered automatic selling.

Outer suburbs such as Alkimos, Baldivis and Ellenbrook are continuing to account for most of the growth in Perth's population while inner suburbs like Mosman Park and Subiaco are shrinking, despite long-standing policies to boost urban infill.

Australian shares have rebounded from a broad slump to close slightly higher for a second day in a row.

ANALYSIS: As many retailers struggle to deal with the internet revolution, Wesfarmers is undertaking two significant experiments in managing the disruptive influence of online trading to bricks-and-mortar businesses.

Gascoyne Resources has written down the value of its flagship Dalgaranga gold project by $33.5 million, as the company's half-year results revealed its liabilities are greater than its assets.

Lendlease's Australian Prime Property Fund Industrial has added a second Western Australian property to its portfolio, investing $4.1 million in an industrial property in Gnangara's Northlink Industrial Park.

Mondium, a joint venture between local contractors Monadelphous and Lycopodium, has secured an early start engineering contract at Mineral Commodities' (MRC) Munglinup graphite project.