Straits Resources will raise nearly $80 million through a convertible notes issue to the Standard Chartered Bank and has been granted an 18-month, $25 million senior debt facility by the bank.
The Chamber of Commerce and Industry of Western Australia today called for economic reform that will support local firms, encourage new investment and create jobs during the deepening global financial crisis.
The value of projects in Australia has declined by $37.2 billion since the September 2008 quarter, with new projects failing to replenish those being completed.
Sydney-based creative agency Host has secured the strategic planning contract for BankWest's $18 million media account while Ikon Communications will handle the bank's media buying duties.
Iron ore miner Fortescue Metals Group has booked a $1.1 billion net profit in its first full half-year of mining, though in line with previous periods its result has more to do with accounting adjustments than mining operations.
BHP Billiton could redeploy some of the sacked workers from its Ravensthorpe nickel mine to its iron ore operations in the Pilbara, as the miner confirms that it will buy back 60 houses in the Hopetoun area.
The state government has announced a raft of measures to reduce the burden of excessive red tape on businesses and consumers and to bar the way to unnecessary government regulation in the future.
Oil and gas giant Chevron has set aside over $A35 billion towards capital and exploration spending worldwide in 2009, including Western Australia's Gorgon, Wheatstone and North West Shelf projects.
Nickel miner Independence Group has booked an unaudited net loss of $1.2 million for the December quarter following a $7 million write-down in investments and exploration expenditure.
Nickel miner Albidon has reached an agreement with a private investment fund for a capital injection of up to $40 million through a convertible notes issue.
Mineral sands hopeful Image Resources has signed a deal with a Chinese organisation to investigate results from its North Perth Basin project and may lead to a joint venture.
West Perth-based Tap Oil says it expects to be generating revenue at near full capacity in the coming months following the Varanus Island incident, as quarterly production jumps 42 per cent.
OZ Mineral says it will book a small loss in carrying value from the sale of its stake in Nyrstar NV for $33 million as it details where 1200 job cuts were made.
The expansion of Kalgoorlie's Super Pit gold mine has been approved after Acting Environment Minister John Day signed off on the expansion under a new set of stringent environmental conditions.
A federal committee has endorsed a High Court decision related to the collapse of WA miner Sons of Gwalia that allows certain shareholders to rank equally with creditors.
The Office of Energy has recommended a 55 per cent increase in small business electricity prices, even higher than the increase it proposed in a draft report released last year.
Coordinator of Energy Jason Banks will chair a new committee that will review the state's gas supplies and examine ways to improve the management of energy emergencies.
The federal government's proposed changes to industrial relations laws could cause long-term financial harm to the state's businesses, the Chamber of Commerce and Industry WA explained to a Senate inquiry today.
West Perth-based Green Rock Energy, ARC Energy and Worsley Alumina are some of the preferred applicants chosen by the state government to harness geothermal energy in the Perth Basin.
Sirtex Medical says it is continuing to pursue the recovery of its legal costs and expenses of over $5.5 million as proceedings against the University of Western Australia and Bruce Gray approaches its third year.
Falling commodity prices during the December quarter has increased the payback amount by Kagara to its offtake partners as the miner delivers another period of record copper production.
Shares in industrial software provider ISS Group have slumped 32 per cent as the downturn forces the company to withdraw its profit guidance, cut jobs and a proposal to scrap the interim dividend.
Mining services company Imdex is banking on the oil and gas sector to help it through the mining downturn as it calls off an acquisition deal for Australian Drilling Specialities.
Shares in Wesfarmers have slipped today as the company launches the retail component of its capital raising efforts in a bid to reduce its debt position.
Malaga-based Advanced Engine Components has received a $1.2 million order for its natural gas vehicle system kits from Chinese company Aussen Engine (Dalian) Co.
Treasurer Troy Buswell has flagged further cuts in government spending as ratings agency Moody's warns the state's AAA credit rating will be at risk should the budget slide into deficit.
