A new survey of Australia's chief executives in the manufacturing, construction and services industries has painted a grim picture for 2009, with sales for all sectors expected to weaken as the country starts to experience a significant slowdown.
A higher gold price has boosted Dominion Mining's quarterly revenue by 27 per cent despite a dip in production and higher cash costs at its Challenger mine in South Australia.
Perseus Mining plans to raise over $8 million through a share placement to fast track the completion of the feasibility study at its Ayanfuri gold project in Ghana and for working capital.
BHP Billiton has reported a rise in iron ore production for the first half of the 2009 financial year but said it had received requests from some iron ore customers for deferrals to shipments amid the weak economic environment.
BHP Billiton has today announced plans to cut 2100 jobs in Western Australia as it suspends operations at its Ravensthorpe nickel mine indefinitely and scales back production at its Mt Keith nickel mine on the back of a falling metal price.
Wall Street plunged yesterday adding to losses from the markets' worst week since November 2008, as fears about the banking sector offset optimism surrounding the inauguration of US President Barack Obama.
Bentley-based mining services company TeamTech has been acquired by Vancouver-headquartered Gemcom Software International, which will complement the latter's mine performance division.
West Perth-based explorer Advance Energy has received a return on investment of over 100 per cent as it finalises the $3 million sale of its Lone Camp gas project in Texas.
Shares in nickel miner Albidon have slumped over 41 per cent as it posts "disappointing" production figures and suspends some development work at its Zambian mine.
Nickel miner Western Areas says it has probably recorded the lowest cash costs in Australia as production at its Flying Fox mine in Western Australia exceeded its yearly target.
The US sharemarkets were closed overnight for the Martin Luther King Jr public holiday, and no major local data was due for release on today, although the Australian dollar was expected to stay under $US0.6775.
The Forest Product Commission has estimated the damage from a fire, which swept through more than 2,500 hectares of pines near Yanchep, at around $100 million to industry and $10 million in stumpage value to the state government.
Hundreds of unionised Alcoa workers in Western Australia have today voted in favour of job security over pay increases in a bid to work with the company in the current economic uncertainty.
A prominent Western Australian economist and Treasurer Troy Buswell have both said the state is unlikely to dip into recession in 2011, as projected by economic forecaster Access Economics.
West Perth-based Carnegie Corporation has entered into a preliminary agreement with the Department of Defence to investigate the feasibility of a wave energy facility at Garden Island off Western Australia.
Shares in BHP Billiton have climbed higher despite a report the miner could close its Ravensthorpe nickel mine and some 700 employees may lose their jobs.
Western Areas Exploration Pty Ltd has been ordered by the Full Court of the Court of Appeal to pay for the appeal costs for Terry Streeter, chairman of unrelated company Western Areas, and his colleague.
West Perth-based oil and gas explorer GB Energy says it has the option to spend over $2 million to acquire a major interest in Protean Power which was developed a concept for a wave energy converter.
Shares in Balcatta-based Target Energy have fallen as the company withdraws from two gas joint ventures in the United States which is expected to save them over $2.5 million.
In what has been continuously described as a difficult market to raise funds, gold miner Avoca Resources has exceeded its $25 million capital raising target with stock issued at a slight discount to its share price.
Debt-laden Centro Properties Group completed a long-term refinancing agreement with lenders today, delivering its lenders 90 per cent of the company's equity and reducing pressure for asset sales.
Share bloodbath on fears of recession; Job losses send shares tumbling; Rio chairman takes fall for BHP bid debacle; CanWest may be forced to can Ten; Gillard defiant on jobs
OM Holdings says it has received overwhelming support from its shareholders for the introduction of Takeover Protection Provisions, which have been criticised by major shareholder Consolidated Minerals.
A study into the Mount Thirsty cobalt-nickel-manganese project in Western Australia has found the $606 million operation could catapult the joint owners into the world's top five cobalt producers.
The $4 billion price tag for the Oakajee port and rail project is expected to come down as the global economic downturn lowers the price of iron ore and mining project deferrals free up contractors.
Shares in Rio Tinto have fallen by as much as 10 per cent today as the miner posts a significant drop in iron ore output during the fourth quarter as the global market weakened amid the global economic slowdown.
The state government says it will provide an additional $31 million from the Royalties for Regions Scheme to increase support to country residents needing to travel away from their homes to access specialist medical services.
