Mining

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

South32 will continue to explore AusQuest’s projects in Australia and South America after the companies extended their strategic alliance agreement by two years.

In celebration of International Women’s Day, inductees of the WA Women’s Hall of Fame and the winners of the Chamber of Minerals and Energy of WA Women in Resources Awards were announced over the weekend.

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.

Perenti Global subsidiary Barminco has received a letter of intent from Canada-based Barrick Gold to provide underground mining services at the Hemlo mine in north western Ontario, under a proposed

The benchmark iron ore price has jumped to more than $US89 per tonne, continuing its month-long recovery, with the resources sector confirming that shipments to China are continuing as usual.

Encounter Resources announced today that mid-tier miner IGO plans to build on their existing partnership by entering a farm-in and joint venture deal in the Paterson Province in the Pilbara.

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.

The Australian subsidiary of Spanish engineering contractor Duro Felguera has been placed into voluntary administration after becoming mired in multiple legal disputes related to construction of the Roy Hill iron ore project.

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.

Flinders Mines has gained shareholder approval to progress its Pilbara iron ore project, following months of questioning from minority shareholders over the role major shareholder Todd Corporation would play in developing the project.

Fortescue Metals Group chair Andrew Forrest has purchased an additional $242 million worth of shares in the company, shortly after Perth-based executives of other leading companies, including Peter Coleman, Ian Testrow and Bill Beament, also made big trades.

Rio Tinto today reported the discovery of around 200 million tonnes of iron ore reserves at its Western Range deposit, following the completion of a pre-feasibility study and the signing of a non-b

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.

Western Australia is the top jurisdiction in the world for mining investment, moving up from second place a year earlier, according to a recent survey from the Fraser Institute.

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.

Perth-based Medusa Mining has reported an accident at its Co-O gold mine in the Philippines, resulting in the death of two of its employees.

Rio Tinto has announced a record final ordinary dividend of $US3.7 billion ($A5.6 billion) on the back of solid full-year results.

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.

Swick Mining Services has begun a strategic review of its drilling and mineral technology divisions, while at the same time announcing its first interim dividend in five years.

WBHO Infrastructure has been awarded a $43.3 million sub-contract from Perth-based engineering firm Mondium for works at Rio Tinto’s Western Turner Syncline Phase 2 mine site.

NRW Holdings, which had been one of just six ASX 200 companies without a female director, has appointed Fiona Murdoch to its board.

Shares in mining contractor Macmahon Holdings have touched a new high for the year after the company reported a strong interim profit and upwardly revised its revenue and earnings guidance for the full financial year.

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.

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.

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.

Warring joint venture partners Northern Star Resources and Tribune Resources have been cautioned by a Supreme Court judge to avoid a 'Stalingrad' outcome of mutual commercial devastation.