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Premier Alan Carpenter has retained his party's leadership after a meeting of cabinet ministers today as the Liberal Party closes in on Labor in the crucial seat of Albany.

A scoping study into Perth-based Heron Resources Ltd's Yerilla operation, which includes the Jump-up Dam project, has estimated a capital cost of $1.2 billion with a payback period of six-and-a-half years.

Brisbane-headquartered contractor John Holland secured a $125 million contract for construction works at the $2 billion expansion of the Worsley Alumina refinery in Western Australia.

Chinese company Sinosteel Corporation has today emerged with a 70.2 per cent holding in takeover target Midwest Corporation Ltd following yesterday's surprise acceptance by former suitor Murchison Metals Ltd.

Ausdrill Ltd has blamed a fall in the company's share price on hedge fund selling after comments from suitor Macmahon Holdings Ltd that its takeover bid was unlikely to succeed.

$3bn costs delay Newmont mine; Jobs surprise adds to RBA rate dilemma; NAB woes aren't over, ABN warns; ANZ Capital chief leaves in lending review; Grylls says no deal with Labor unless Carpenter is in charge

Sinosteel is a step closer to full control of Midwest Corporation Ltd after Midwest shareholder Murchison Metals Ltd reversed its previous opposition to the Chinese company's takeover offer.

Unites States company Cleveland-Cliffs is looking to spend nearly $600 million on acquisitions in Western Australia as it moves to fully own iron ore miner Portman Ltd and acquire a 30 per cent slice in explorer AusQuest Ltd.

Some 50 per cent of shareholders have passed up Perth-based Axiom Properties Ltd's rights issue, with the company managing to raise $5.7 million from a targeted $11 million.

Shares in Perilya Ltd have dropped by over 40 per cent on news it will sell its Mount Oxide copper and cobalt project to West Perth-based Chalice Gold Mines Ltd in a scrip deal worth $25 million.

AusQuest Ltd director John Ashley said he is not concerned of a takeover by acquisitive US company Cleveland-Cliffs, which will take a 30 per cent stake in the Ardross-based minerals explorer.

Western Australia's Nationals party has been handed more power in the outcome of the state election, with independent member for Kalgoorlie John Bowler announcing he will side with the party, potentially strengthening the Liberal claim to government.

The Federal Court of Australia has ordered a meeting of Aquila Resources Ltd's shareholders in October to consider the 'scheme' for the demerger of certain of the company's exploration interests in new company Aquila Exploration Limited.

The schedule for Australia's largest gold mine could be extended as manager Newmont Mining Corporation said work on the Boddington operation is now 83 per cent complete.

The Western Australian Electoral Commission is aiming to have an election result by the end of this weekend as postal votes make their way to the counting room.

Ausdrill Ltd joint venture vehicle, African Underground Mining Services, has won a four-year $90 million production mining contract with the West African Red Back Mining.

Air passengers travelling with Skywest will be able to save a few dollars with the recent decline in oil prices prompting the airline to decrease it fuel surcharges, however Qantas and Virgin Blue have indicated they won't be moving any time soon to cut t

The Chamber of Commerce and Industry WA said the introduction of an emissions trading scheme could potentially present the biggest challenge to business and industry over the last 50 years, as it lodged its submission with the federal government today.

Western Australia has recorded the country's lowest jobless rate for August with the latest national figures surprising economist who say the overall fall lessens the chance of an October interest rate cut.

Rio Tinto has emerged as the mystery buyer behind an 11 per cent parcel of shares in uranium explorer Extract Resources Ltd, which could be a hurdle in the company's planned merger with West Perth-based Kalahari Minerals Ltd.

The Kimberley Land Council has released its shortlist of potential site suitable for the development of a liquified natural gas hub with the government's Northern Development Taskforce to release its shortlist after the election result is known.

Western Australia's Treasury has thrown an obstacle in the path of negotiations on the formation of a state government.

US stocks wobbled higher today as investors mulled troubled investment giant Lehman Brothers' news of hefty losses and plans to sell assets to shore up its finances.

Nats demand 'risks rating'; Seven's $320m buyback will hand Stokes majority control; Lehman woes rattle global markets; Sinosteel talks Midwest chief into leaving, eyes 13.2pc stake; Dollar sinks below 80 US cents

THE standout feature of Saturday's panic-driven premature election was that neither Alan Carpenter nor Colin Barnett pulled their party over the line to govern Western Australia in their own right.

The iron ore, nickel and gas sectors have grown to dominate new investment in Western Australia's resources sector, but there continues to be substantial investment in other mineral sectors across the state.

Could the emergence of Brendon Grylls as a power broker in Western Australian politics create a shockwave that reverberates across the country and around the globe? It is possible that a few thousand regional and rural voters could have a major impact on

Increased downstream processing of Western Australia's mineral resources has for many years been the goal of successive governments.

Smartrider, Perth's public transport integrated ticketing system, is the leading contender in the process to introduce a smartcard system in New Zealand.

WHOEVER forms government after last weekend's amazing state election, the challenges will remain the same; and one of the first the new administration will need to tackle is the perception that has been Alan Carpenter's undoing - that not enough has been

Marine building contractor McDermott Industries Australia has been cleared of allegations relating to unlawfully underpaying foreign workers on a gas pipeline project 130 kilometres off the coast of Karratha.

The wealth in human and material capital can bring a prosperous future for WA, according to James Pearson, if we choose to embrace the opportunities.