Jessica Mascione

FYI Resources has edged closer to production at its high purity alumina project in Western Australia after completing a definitive feasibility study and securing equity financing with a European investment group.

The Perth Mint’s gold, silver and platinum holdings stored on behalf of clients have reached $5 billion in value, with the mint citing a flight to safety by investors as a result of the coronavirus outbreak.

A subsidiary of Perth-based Southern Cross Electrical Engineering has secured a $40 million contract with CIMIC Group to complete works on a train station in Sydney.

SPECIAL REPORT: Capital for the junior mining sector is drying up amid growing concern the traditional business model for small explorers is broken.

Lithium producer Altura Mining has received a three-year extension on its existing $244 million loan facility, but at a price of adding 5 per cent to the total loan amount and issuing additional shares to the lenders.

The amount of money raised by ASX-listed explorers increased by 19 per cent to $1.61 billion in the December quarter, primarily for larger companies with lower-risk projects, according to a new report from accounting firm BDO.

Paladin Energy has received formal approval from the government of Malawi to proceed with the sale of its Kayelekera uranium project to Perth-based Lotus Resources and Lily Resources.

Gold explorer Antipa Minerals has entered a joint venture agreement with Newcrest Mining, which could invest up to $60 million to explore the company’s tenements in the Paterson province.

Struggling miner Dacian Gold has slashed the mineral resource estimate for its Mt Morgans operation in Western Australia and reduced expected production over the next three years.

SRG Global has secured a major portion of construction works at Chevron’s new headquarters, currently being built at Elizabeth Quay, under a $72 million contract with Multiplex.

Struggling gold producer Blackham Resources is seeking to raise $52 million at 1 cent per share, while also planning to secure a $40 million loan with a European trading group to expand production at its tenements in Western Australia.

Mineral sands company Strandline Resources is raising $6.5 million through a share placement and fully-underwritten rights issue to accelerate work at its flagship Coburn project in Western Australia.

Perenti Global said it was on track to meet its earnings guidance for the full financial year despite problems in its African business denting first-half results.

Former AFL footballer and Wirrpanda Foundation executive Jarrad Oakley-Nicholls is off to a flying start in the business sector, after establishing Oaks Civil Construction and buying a traffic management business in Geraldton.

The state government’s most accomplished minister is planning to retire at next year’s state election, dealing a blow to premier Mark McGowan, with a handful of current ministers seen as potential successors should Labor be re-elected.

Gold explorer Apollo Consolidated is raising $10 million through a share placement to advance drilling activities at its flagship Lake Rebecca project in Western Australia.

Junior gold explorer Alto Metals has received an off-market takeover bid from Chinese-owned Goldsea Australia Mining in an all-cash deal worth $20.7 million.

Australian Finance Group has reported a 20 per cent rise in first-half net profit to $17.7 million, sending its shares 10 per cent higher at the market close today.

Galaxy Resources has disclosed a $US284 million ($A430 million) loss for the 2019 financial year, driven by lower lithium prices and non-cash write-downs and impairment at its Mt Cattlin mine near Ravensthorpe.

Fashion accessory chain Colette by Colette Hayman will close five of its stores in Western Australia, including both stores in the CBD, after the struggling retailer was placed into voluntary administration earlier this month.

Civil and mining contractor NRW Holdings has reported strong profit and revenue gains in its interim results, with the company saying its completed acquisitions and plans for alliance-style contracts would support strong future growth.

Mineral sands company Iluka Resources is planning to demerge its BHP iron ore royalty business into a new ASX-listed entity, while at the same time announcing its 2019 full-year results.

Mining services provider Perenti Global has secured $155.5 million in new and extended contracts for works in Australia and Africa through its surface mining operation.

Rio Tinto has purchased a third jet for Western Australia’s aeromedical fleet, as part of a six-year partnership extension with the Royal Flying Doctor Service (RFDS).

Contractors Monadelphous and Emeco Holdings enjoyed solid share price gains today after reporting their interim results, with Emeco posting higher profits and improved margins while Monadelphous forecast a 10 per cent increase in revenue for the full financial year after a soft first-half.

Panoramic Resources has sold a portion of shares in its Perth-based subsidiary, Horizon Gold, to the company’s major shareholder for $5.5 million.

NSW-based contractor Downer has secured the road portion of works for the Denny Avenue level crossing removal in Kelmscott, ahead of Perth construction company Decmil.

Subiaco-based Firm Construction has secured a $47 million contract with the state government to build an assembly and high-voltage testing facilities at the new Bellevue railcar depot.

Saracen Mineral Holdings has reported strong growth in its interim profits, helped by increased production and the recent acquisition of its stake in the Kalgoorlie Super Pit. Fellow gold miner Regis Resources and mining technology company Imdex have also reported positive first-half results.

Mineral sands company Sheffield Resources says it will scale back activities at its flagship Thunderbird project in Western Australia and seek ways to develop the project at a lower cost, after failing to secure a strategic partner.

A joint venture between diversified engineering consultancy Calibre Group and indigenous company Tocomwall has been contracted by the state government to develop a monitoring program for the Aboriginal rock art on Murujuga (Burrup Peninsula).

Woodside Petroleum has won a long-running contractual dispute with Melbourne-based explorer FAR over its purchase of a stake in the Sangomar oil project, off the coast of Senegal.