Private companies and not-for-profit businesses play a prominent role in the West Australian economy, with annual revenue at the top 20 exceeding $32 billion, according to data compiled by Business News.
Saracen Mineral Holdings has sold its 10.5 per cent interest in Red 5 for $39 million, completed through a book build process at 30 cents per share prior to the ASX market open today.
Shares in Panoramic Resources have plunged by more than 33 per cent, falling to their lowest price since 2016, after the company downgraded production guidance for the underground Savannah mine in the Kimberley.
Fortescue Metals Group is anticipating iron ore exports to be at the upper end of guidance after posting record shipments for the first half of 2020, while also announcing plans to spend $US450 million ($A668 million) on a solar-gas power facility.
Gold Road Resources shares rose by more than 11 per cent today after the company announced higher than expected cash generation from its Gruyere gold mine in Western Australia.
Northern Star Resources said it was on track to meet production guidance of around 1 million ounces of gold this year, helped by its recent acquisition of a 50 per cent stake in the Kalgoorlie Super Pit and strong performance across its Australian operations, but also disclosed today an increase in its operating costs.
Rio Tinto has scrapped a practice that allowed it to discount payments to small business suppliers, two weeks after the state government forced the Water Corporation to make a similar change.
Rio Tinto has confirmed it will proceed with the next phase of its exploration joint venture at the Citadel copper-gold project, located in the Pilbara's Paterson province, but has extended the time it has to spend $14 million from three years to five years.
Emeco Holdings has expanded its service offering after signing a $72 million agreement to acquire Australian underground mining equipment and services provider, Pit N Portal.
Barrick Gold has resolved a three-year tax dispute with the Tanzanian government, which has lifted a ban on minerals exports, potentially providing a pathway to production for a contingent of Western Australia-headquartered miners and exploration firms.
More than 80 per cent of spending on the Eliwana iron ore project has been through local contractors, Fortescue Metals Group said today, while Premier Mark McGowan announced a major approval had been fast tracked to enable the mine to be completed on schedule.
A decision by Wesfarmers and partner SQM to pause investments at the Mount Holland mine and Kwinana refinery bring to about $3 billion the value of lithium projects deferred in Western Australia during the past year.
Perth-based Castile Resources and Kaiser Reef are set to raise up to $25 million ahead of stock market listings next month, despite tough market conditions affecting a number of ASX aspirants.
Gold explorer Emerald Resources is seeking to raise $75 million through a share placement to develop its Okvau project in Cambodia, while also finalising a $US60 million ($A88 million) loan with Sprott Private Wealth.
Shares in national contracting groups CIMIC and Downer have plummeted more than 20 per cent after the companies reported significant write-downs and higher costs respectively.
Shares in St Barbara eased today after the company downgraded production forecasts at two of its goldmines, while fellow miner Regis Resources reported a strong quarterly result.
Indian state-owned corporation NMDC recently lifted its stake in local mining hopeful Legacy Iron Ore to more than 90 per cent in a deal that minor shareholders say dramatically diluted their equity, with regulators powerless to take action.
Civil and mining contractor MACA has secured another contract with First Quantum Minerals, worth $20 million, and further contracts with VicRoads totalling $19.5 million, while also announcing the closure of its Brazil operations.
Resolute Mining has agreed to repay all amounts outstanding under a $US130 million loan agreement with Taurus Funds Management, which it said would be funded by an equity raising.
A private business has lodged documents with the environmental regulator for a new bauxite mine in the Kimberley, a project estimated to be worth around $35 million.
First Quantum Minerals has reached a new milestone as it moves closer to re-opening its Ravensthorpe nickel project, while fellow nickel miner Western Areas has signed new offtake contracts with BHP and Jinchuan.
BHP has detailed the rapid expansion of its recently established Operations Services subsidiary, which it says is delivering better results than the maintenance contractors it has displaced from its iron ore and coal operations.
Atlas Iron is planning to start development of its Corunna Downs iron ore project in the Pilbara by mid-year, at a cost of around $50 million, after the Environmental Protection Authority recommended approval.
Emerald Resources has announced plans to raise $75 million to fund its Cambodia-based Okvau gold project, via two placements of 1.9 billion new shares.
Nine WA-linked resources businesses are ranked among the country’s top 20 corporate taxpayers, despite a widespread perception the industry does not pay its way.
Junior gold miner Kalamazoo Resources has announced an $8 million placement to billionaire investor Eric Sprott and his Canada-listed company, Novo Resources Corporation.
Perth-based Resolute Mining has finalised the sale of its Ravenswood gold project in Queensland to a private equity and mining consortium for up to $300 million.
Fortescue Metals Group won a Supreme Court decision today over an exploration licence application that had been declined because it was processed seconds after the regulator’s deadline.
EcoGraf, formerly Kibaran Resources, has signed a letter of intent with GR Engineering Services for its proposed battery graphite facility in Kwinana, which is budgeted to cost just more than $100 million.
