Mining

Oil and gas explorer Odin Energy has struck an agreement to acquire a local cannabis and hemp 'aggregator', making it the third WA-based listed company to explore the cannabis sector in recent months.

Shares in resources developer Mungana Goldmines have shot up 33 per cent today after an off-market takeover proposal backed by private equity group Denham Capital.

Fortescue Metals Group is believed to have made another round of redundancies today, mainly affecting workers at its Cloudbreak mine in the Pilbara.

The company behind the reverse takeover of local cloud-based technology company Norwood Systems has raised $5.5 million in an oversubscribed share offer.

Gold has risen one per cent after disappointing US data hit the greenback and dampened expectations that the Federal Reserve will hint at this week's policy meeting at an interest rate rise in coming months.

Crude oil prices have traded mixed amid reports that Iran had seized a cargo ship in Iranian territorial waters in the strategic Strait of Hormuz, a key oil transit route.

A Rio Tinto subsidiary has admitted failing to provide a safe working environment after the death of an employee at a Western Australian mine.

Iron ore miner Mineral Resources is pressing ahead with plans for innovative ‘skyrail’ and trans-shipping projects in the Pilbara, saying that together they can cut $25 per tonne off its operating costs.

BHP Billiton has committed $22 million towards influencing the perception of mathematics among girls and young women, in partnership with the Australian Mathematical Sciences Institute.

A subsidiary of mining services business Ausdrill has received a contract offer from global miner Peabody Energy to supply equipment to its Australian coal assets.

Shares in local gold miners have dominated on the ASX today after the spot price for the precious metal jumped by over 2 per cent overnight to $US1,203.30 an ounce

West Perth-based explorer South Boulder Mines has announced another capital raising to fund ongoing work at its Colluli potash project in East Africa.

Gold has jumped more than two per cent - to be back above $1,200 an ounce.

World oil prices have traded narrowly mixed as traders assessed escalating violence in Yemen and the prospect of another rise in US crude inventories.

The receivers who took charge of the Windimurra vanadium project in February have put the trouble-plagued mine up for sale, with Gresham Advisory Partners appointed to find a buyer.

Western Australia is another step towards developing a uranium export industry, with Canadian giant Cameco receiving federal environmental approval at its Kintyre deposit in the East Pilbara.

East Africa Resources has become the 36th Perth-based company to announce a backdoor listing deal in the past 18 months, with plans to exit uranium exploration and acquire local security services business Threat Protect Australia.

Mount Gibson Iron has cut 20 per cent of its staff in the past quarter as it focuses on reducing costs and preserving cash to combat weak iron ore prices.

The mining industry is adopting new technology it hopes will raise flexibility and lower costs in a changing environment.

Two Karratha businesswomen believe cheaper commercial rents are vital to ensuring the sustainable growth of small businesses as part of a plan to diversify the Pilbara’s economy.

Production has declined at uranium player Paladin Energy's biggest mine after a well failed, but the company is upbeat about the prospects of exports to Japan and India.

Loss making mining services contractor Macmahon Holdings will cut another 40 staff and alter its corporate rosters to cut costs.

Metals explorer TNG has secured a $2 million placement to progress a feasibility study on its planned Mount Peake vanadium project in the Northern Territory.

Gold rose from a three-week low on Thursday, following its biggest drop in over a month on Wednesday, as the dollar retreated on weaker-than-expected US economic data.

Global oil prices have advanced as the Saudi Arabia-led coalition renews airstrikes in Yemen, stoking new supply concerns about the crude-rich Middle East.

Exploration firm Resource Star has announced plans to acquire a 60 per cent interest in a Chinese company which holds an exclusive licence to produce and distribute Candy Crush confectionery in Asia.

Fortescue Metals Group shares surged today after it surprised the market by completing a $US2.3 billion ($A2.9 billion) debt refinancing, while also benefiting from a much-needed lift in iron ore prices.

Sandfire Resources shares moved higher after the copper and gold producer increased production at its DeGrussa mine.

Maca and GR Engineering Services have become the preferred contractors for work at Cassini Resources’ Nebo-Babel nickel project while also committing to the mining company’s $8 million capital raising.

Treasurer Joe Hockey has welcomed moves by BHP Billiton to curb iron-ore production, which has boosted prices and in turn the prospect of a better budget outcome.

Sino Gas & Energy Holdings has completed an $80 million capital raising to fund a development plan for its onshore gas projects in China.

Mining services company Viento Group has gone into administration, despite having won major new contracts in the past month with iron ore miners BC Iron and Rio Tinto.