Mining

China-based Citic Group has flagged a $US1.4 billion to $US1.8 billion impairment at its Sino Iron magnetite project in the Pilbara as a result of the falling value of iron ore.

Shares in Perth-based explorer Sirius Resources were up nearly 10 per cent today after it announced a gold discovery at its Polar Bear project near Norseman.

Atlas Iron is targeting further savings after revealing it sold iron ore at a loss during the December quarter, selling for an average price of $63 per tonne compared to an all-in cash cost of $66 a tonne.

Western Australia's biggest iron ore producer, Rio Tinto, has reported record sales for 2014, on the same day that its major customer, China, announced its slowest rate of economic growth in 24 years.

Gold prices were lower in Europe Monday, settling lower on reduced physical demand after the highs of the previous week.

Iron ore miner Fortescue Metals Group has recruited the former vice-president of global procurement at oil giant ExxonMobil to its board of directors, as it seeks to lift the efficiency of its business.

In just its second year in the tightly held retail gas market, Wesfarmers’ Kleenheat brand has stirred up intense competition among business customers.

Recent trading in the uranium market shows more buyers are expecting prices to rise.

Cost cutting may be the order of the day across the resources industry, but mining services provider Murray Engineering is marching to the beat of its own drum – hiring at its Pinjarra headquarters and opening a larger Kalgoorlie office.

MACA has signed a new $9 million deal to provide services to Doray Minerals at its Meekatharra gold project, as the mining and civil engineering firm winds down operations at Rosslyn Hill Mining's lead operation at Paroo Station near Wiluna, which will be put on care and maintenance next month.

Copper prices extended their rebound on Friday, as some investors judged Wednesday's drop to five and a half year lows as too extreme despite continued worries about demand.

Gold prices extended their rally on Friday to lock in a 5 per cent gain for the week as worries about global growth and turbulence in currency markets spurred investment demand for haven assets.

Laboratory services group ALS has beaten its own profit forecast by 15 per cent thanks largely to cost cutting.

Perth has maintained its trend of weekly price fluctuations at the petrol bowser, according to Australian Competition & Consumer Commission data, despite most other capitals moving towards longer fuel price cycles.

Atlantic is using a big insurance payout to rebuild the Windimurra vanadium plant nearly a year after a fire forced the project to shut down, but the company still faces major operational and financial challenges.

Two more mining companies have been targeted in drug raids in Western Australia's Pilbara region.

Nedlands-based TFS Corporation says a $24 million investment from a new Hong Kong institutional investor in its Beyond Carbon sandalwood plantation product has settled.

Miners don't need to be told times are tough but they must adapt quickly or perish, says a new report by consultants Deloitte.

The oil market has tumbled after OPEC said it produced more oil in December than its limit, despite sharply falling prices, and lowered its global demand outlook for its crude.

The price of the precious metal has hit a four-month high and is on track for its biggest percentage weekly gain in nearly a year.

Junior oil explorers angered by a sudden increase in government tenement fees are close to forming an alliance to fight the fee changes, including a 700 per cent increase for some onshore tenement fees.

Mineral sands miner Base Resources has admitted defeat in its attempt to take over World Titanium Resources.

West Perth-based explorer South Boulder Mines has tapped a private investor for nearly $2.1 million, through a placement of 10 million shares.

Lithex Resources has scrapped its planned purchase of internet marketing business Mpire Media, which was the second business Perth entrepreneur Zhenya Tsvetnenko was seeking to list on the stock market.

Gold miner Doray Minerals has declared its off-market takeover of Mutiny Gold unconditional, after increasing its stake to 75.3 per cent.

It might seem unimportant to know exactly why copper has been added to the list of sick commodities, but if it is more than a fright over excess supply and slack demand then we could be on the verge of a rerun of the GFC.

Gina Rinehart's Roy Hill iron ore project has been issued two prohibition notices over safety concerns.

Oil and gas giant Woodside Petroleum is seeking to cut costs after lower oil prices pushed revenue down 10.1 per cent during the December quarter.

Weak prices continue to hurt mineral sands miner Iluka Resources, which has revealed another fall in annual revenue.

Gold prices have stuck to the highest level in two-and-a-half months, even as investors sell the metal to take profits on recent gains and cover bets in other markets.

US oil prices have shot up more than five per cent in a move attributed to bargain-hunting after the contract sank to a new multi-year low the prior day.

Liberty Resources is set to proceed with its move into the IT sector, through the acquisition of Cirrus Networks, after taking the extraordinary step of having a board spill to hasten the removal of two directors.