Mining

Sandfire Resources has withdrawn its full year production guidance, citing uncertainty over the impacts of COVID-19, but says operations at its DeGrussa copper-gold mine in Western Australia remain largely unaffected.

Salt Lake Potash has moved a step closer to developing its Lake Way project in Western Australia after receiving $20 million in commitments from a capital raising.

Rio Tinto is maintaining its 2020 production guidance for ore, bauxite, alumina and aluminium but expects mined and refined copper to drop further amid COVID-19 restrictions.

The liquidator of Kimberley Diamonds, which was placed into administration in 2015, has announced the full return of money owed to around 125 former company employees.

Centurion has received a three-year contract extension to provide integrated logistics services for CITIC Pacific Mining’s Sino iron project in the Pilbara.

Chalice Gold Mines’ shares were up more than 80 per cent today after releasing drilling results this morning while Mandrake Resources had big gains yesterday after announcing a farm-in deal with Andean Energy Resources on adjacent ground.

Panoramic Resources has announced the temporary closure of its Savannah nickel mine in the East Kimberley.

Anova Metals has cut the pricing of its planned entitlement offer from 1 cent per share to 0.7 cents to reflect the downturn in equity markets.

The COVID-19 pandemic is forcing investors who have shunned Western Australian mining companies for decades (because they prefer buying shares in banks) to smarten their game or risk being left holding yield-free assets as bank dividends dry up.

Swift Media has signed $1.2 million in contracts to provide communications equipment at Rio Tinto and Atlas Iron’s workforce accommodation villages in the Pilbara.

Mineral sands company Iluka Resources has withdrawn its full year earnings guidance, citing market uncertainty as a result of COVID-19, but says it will proceed with its proposed iron ore royalty demerger.

Dacian Gold has announced details of a partially underwritten capital raising priced at just 30 cents per share as it seeks to strengthen its balance sheet and rebuild its mining operations.

Blackstone Minerals is raising $6.8 million from a share placement to an overseas nickel manufacturer, as part of an agreement to co-develop a nickel processing facility in northern Vietnam.

Drilling contractor Swick Mining Services will proceed with its first interim dividend payout in five years, while also announcing a $1 million share buy-back program.

Strandline Resources is on track to develop its first project in Tanzania after signing a $US26 million ($A43 million) finance facility agreement with an Africa-based lender.

Rio Tinto has disclosed that 700 fly-in, fly-out workers have moved to Perth from interstate or overseas because of new travel restrictions, more than twice the number at mining rival BHP.

Australis Oil & Gas is taking action to preserve cash reserves through a number of cost-reduction measures as it deals with the current low oil price and impacts of COVID-19.

Panoramic Resources will receive an $8 million unsecured loan from major shareholder Zeta Resources to fund activities at the Savannah nickel mine in Western Australia.

Northern Star Resources has reported a confirmed COVID-19 case in its Alaskan operations, saying an employee tested positive while at home on rostered leave.

Collaboration across the resources industry is one of the key changes Chamber of Minerals and Energy of WA CEO Paul Everingham has witnessed as the sector has sought to overcome the challenges of COVID-19. Click through to see the video interview.

Mining contractor Macmahon Holdings has maintained its full-year earnings guidance but will delay previously planned capital expenditure in an effort to preserve cash.

EcoGraf has cut its executive and management salaries by half and further reduced operational expenditure in West Africa in a bid to save costs during the COVID-19 pandemic.

Surveying firm Veris has made a number of changes to its board, including Adam Lamond stepping out as managing director, as it deals with the impacts of the coronavirus pandemic.

In an initiative led by the Chamber of Minerals and Energy of WA, the Western Australian resources sector has pledged $6.6 million to Royal Flying Doctor Service Western Operations, Foodbank WA and Lifeline WA.

Mining services company Mader Group has taken the decision to withdraw all personnel from its overseas operations, with the US the only exception.

I was involved in a private discussion group today where the question was asked whether we would experience a V-shaped or U-shaped recovery.

The Kerry Stokes-backed BCI Minerals has agreed to co-fund further development of the Iron Valley mine in the Pilbara, as part of a package of deals that will see Mineral Resources buy its Buckland

Emerging iron ore company Flinders Mines is looking to raise up to $14.52 million under a non-renounceable rights issue, with the funds primarily used to repay a loan from its major shareholder Todd Corporation.

SRG Global has withdrawn its full-year earnings guidance and deferred an interim payout to shareholders, citing the uncertain situation around COVID-19 and rapidly evolving virus-related measures.

UPDATED: Woodside Petroleum has dropped plans for a 14-week fly-in, fly-out roster after presenting the option to its staff, opting instead for a less radical change as the oil and gas giant, along with mining companies, seeks to reduce the amount of travel to its remote sites.

Engineering company Primero Group has secured further work with Rio Tinto under $20 million in contract variations, while at the same time maintaining its full-year earnings guidance.

Goldminer Red 5 is raising $125 million from a two-tranche share placement to fund the final feasibility study for its King of the Hills gold mine in Western Australia.