Mining

World oil prices have advanced following data that showed US oil companies cut drilling activity in response to low prices.

Gold futures have closed slightly lower after a volatile session that saw investors weigh higher oil prices against signs of weakness in the US economic recovery.

Rio Tinto Iron Ore chief executive Andrew Harding hit the streets this morning in a fluoro vest and holding an armful of copies of The Big Issue, joining a regular vendor to sell the magazine on St Georges Terrace as part of a week-long national event.

The number of people working on the Gorgon gas project on Barrow Island has jumped to 8,000, as project operator Chevron strives to meet its targeted start-up around the middle of this year.

Shares in Perth-based oil and gas explorer Titan Energy have surged on news it has signed a $US50 million funding deal with an undisclosed US-based investor to pursue drilling programs at its Allen Dome oil project in Texas.

The strong rise in the Australian dollar gold price has encouraged gold companies to press ahead with low-cost mine developments, despite uncertainty over royalties.

Copper futures have closed much higher on the London Metal Exchange, as end-of-month purchases to cover open positions boosts red metal prices.

Gold prices have rallied after a weaker-than-expected reading of US economic health fanned investor interest in the haven asset.

Perth company Atlantic, which is in the midst of rebuilding its Windimurra vanadium plant after a fire last year, has received a big cash boost this month in the form of further insurance payments

BHP Billiton is laying off hundreds of workers at its Olympic Dam mine in South Australia.

Pilbara iron ore producer BC Iron is making deeper cost cuts as it weathers a falling iron ore price.

Mid-tier iron ore miner Mineral Resources has criticised port charges after digging into its stockpiles to export 2.8 million tonnes in the December quarter.

Black Range Minerals shares closed on a high today on news it had received a takeover proposal from Canadian-based Western Uranium Corporation for all of the company’s shares.

Oil prices have closed higher after a volatile session that saw the New York price drop below $US44 a barrel for the first time since March 2009.

Gold prices saw their sharpest drop in more than a year Thursday, as investors interpreted the Federal Reserve's comments from a day before to be on the hawkish side, denting the case for owning the precious metal.

The Water Corporation has announced plans to sell its in-house engineering and construction services team, which has 152 permanent employees.

Southern Cross Electrical Engineering managing director Simon High has announced his impending retirement after spending nearly five years at the helm.

Explosives and mining services provider Orica does not know when there could be a significant turnaround in the mining sector.

Metals X is aiming to become one of Western Australia’s biggest gold miners after announcing updated plans to develop its Central Murchison project, with mining to set to commence in July this year.

Plunging commodity prices have knocked Clive Palmer off Australia's top 50 rich list, and slashed the estimated wealth of other mining moguls.

Doray Minerals has refinanced a $55 million debt facility with Westpac to help fund development of its Andy Well stage 2 gold project in the Murchison region of Western Australia.

Fortescue Metals Group surprised investors earlier today with a better-than-expected December quarter production report, but that should not stop speculation that it could be a key player in Western Australia’s deal of the decade.

Shares in Poseidon Nickel have surged after it flagged a major resource upgrade at the recently purchased Lake Johnston nickel project near Norseman.

Shares in Fortescue Metals Group lifted today after it reported an 11 per cent cut in production costs and flagged further reductions. For more on FMG, Tim Treadgold's opinion column (see below) outlines reasons why mining giant BHP Billiton should buy the iron ore miner.

Oil has tumbled to near a six-year low as US crude stocks soared to a record high, sparking fresh fears over the growing global supply glut.

Gold futures have pulled lower after the Federal Reserve signalled it would keep interest rates near zero at least until midyear.

Oz Minerals has made the decision to relocate its headquarters from Melbourne to Adelaide, as the South Australian government today announced it would invest $10 million in a new research partnership with the resources company and local universities.

Perth-based Sandfire Resources has extended the mine life of its DeGrussa copper and gold mine near Meekatharra to mid-2021.

West Perth-based iron ore miner Mount Gibson Iron has flagged an $850 million to $950 million impairment after the company put its Koolan Island mine on care and maintenance in December.

Oil prices have rebounded from six-year lows as the US dollar weakened after disappointing US economic data.

Gold prices have risen as some investors sought to protect their wealth from losses in stocks and a weaker US dollar.

Gindalbie Metals has commenced a review of its strategy and investment options, after reporting that the Karara iron ore project is still not cash flow positive despite achieving a solid lift in production volumes.