PT Bumi Resources TBK has gained majority control of Herald Resources Ltd, lifting its stake to 51.34 per cent after its former rival accepted the takeover offer yesterday.
Sinosteel Corp's holding in takeover target Midwest Corporation Ltd has crept up to 54 per cent while it stays quiet on whether it will extend its takeover deadline, due to expire tomorrow.
Cape Lambert Iron Ore Ltd has received a cash injection of over $15.5 million after an unknown entity converted options to acquire a 14 per cent stake in the company.
The higher price of purchasing gas through the state government's online bulletin board could bump up the price of hotel rooms as one of WA's largest linen service providers passes on the cost.
United States investment firm Harbinger Capital has further increased its stake in Midwest Corporation Ltd, following a raid on over 5.4 million shares yesterday.
Chinese-Indonesian consortium Antam-Zhongjin will pocket over $109 million after today condeding defeat in the takeover battle for Herald Resources Ltd and accepting its rival's higher offer.
The Association of Mining and Exploration Companies has congratulated the state government in reducing the backlog of mining tenement applications by 20 per cent but has urged the resources minister to do all he can to trim it down further.
Two major shareholders in Perth-based Paramount Mining Corporation Ltd, which instigated a motion to remove some of the company's directors last year, have reduced their shareholding and exited the share register.
West Perth-based mineral explorer Metex Resources Ltd will change its name to Carbon Energy Ltd tomorrow, the final touch on its repositioning as an energy focused company.
Takeover target Ausdrill Ltd has cast aside its share trading policy, in light of managing director Ron Sayers' recent share spending spree, justifying the move as not applicable during a hostile takeover scenario.
Western Australia has recorded a 10.3 per cent rise in bankruptcy levels over the June quarter while national levels over the past financial year were at their second highest on record.
Prevailing market conditions have prompted nickel miner Minara Resources Ltd to investigate standby banking facilities as it quashed speculation over plans to raise equity.
Monarch Gold Mining Company Ltd deputy chairman David Humann has stepped down from the boards of Territory Resources Ltd's and India Resources Ltd, a day after the gold company went into administration.
Despite announcing a $30 million lifeline package earlier this week, Monarch Gold Mining Company Ltd has today appointed Pitcher Partners as voluntary administrators.
GRD Minproc, a subsidiary of GRD Ltd, and GR Engineering Services Pty Ltd have secured study and development contracts with Exco Resources Ltd and Univeral Resources Ltd respectively.
Subiaco-based Riviera Resources Ltd has opened its $2.5 million initial public offer with funds to contribute to exploration costs at its Three Sisters project in Queensland.
India Resources Ltd has revealed it is in ongoing talks with the Michael Kiernan-led Monarch Gold Mining Company Ltd over a $3.5 million outstanding loan.
Mirabela Nickel Ltd has signed an offtake agreement with a Brazilian company and has secured an $84 million bridge financing facility with Barclays and Credit Suisse to fund ongoing construction at its Santa Rita project.
Western Australia's gas crisis has already cost $2.4 billion in lost turnover and is expected to rise to $6.7 billion as the state's peak business group predicts economic growth will ease this financial year.
Takeover target Midwest Corporation Ltd has issued $19.3 million worth of shares to Morgan Stanley Austrlaia Ltd as payment for advisory services relating to the Sinosteel Corp takeover offer.
Takeover target Ausdrill Ltd has fired back at Macmahon Holdings Ltd's claims that its share price is being propped up by its $400 million bid, saying its bidder had so far managed to secure 0.31 per cent of Ausdrill shares.
Western Areas NL said it is on track to produce more than 14,000 tonnes of nickel next year at low cash costs after posting a positive June quarterly report.
Construction industry hopes have suffered a blow, with Master Builders Australia's national survey revealing the fourth consecutive fall in builder sentiment in the June quarter.
Perth engineering company Macmahon Holdings Ltd has formed a new Aboriginal contracting business as it decides whether to extend its takeover offer period for Ausdrill Ltd.
Sinosteel is within reach of taking out a controlling stake in takeover target Midwest Corporation Ltd, increasing its interest today to 47.14 per cent after some Midwest directors decided to sell their stake to the steelmaker.
The Liberal party has today released a blueprint for a state energy policy focusing on the gas sector while the Chamber of Commerce and Industry said any such policy needed to be fully costed to ensure the best outcome is achieved.
Richfield Group Ltd and PharmAust Ltd have become the latest Western Australian companies to reveal their exposure to the affairs of besieged financial services provider Chimaera Capital Ltd.
Financing of Moly Mines Ltd's $1.1 billion Spinifex Ridge project has been given a boost after the environment minister today gave the go ahead for the project to proceed.
The Kwinana power station has been brought back to life but only partially as the Liberal party demands answers on the one-month delay to the re-commissioning of a Collie power plant and the shut down of another.
The mining boom is forecast to stay firmly between the nation's economy and recession for at least the next five years according to economic forecaster BIS Shrapnel, which today published a 15-year outlook for the mining sector.
Four Midwest Corporation Ltd directors have decided to accept Sinosteel Corp's takeover offer, a day after its merger with Murchison Metals Ltd was called off.
