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 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.
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.
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.
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.
Subiaco-based explorer Triton Minerals has secured a funding facility of up to $20 million over two years with Lone Star Investments, to assist in the development of its Nicanda Hill graphite and vanadium deposit in Mozambique.
Perth-based explorer Gold Road Resources will proceed with a pre-feasibility study on its Gruyere project east of Laverton, after conducting a scoping study which found it to be a robust, long life and large-tonnage gold project.
Gold miner Silver Lake Resources has cut its production guidance for the current financial year and reported higher costs, triggering a 23 per cent dive in its share price.
Sirius Resources has chopped $30 million off the cost of developing its Nova nickel project after getting final prices from contractors, including Barminco, which started work at the remote site east of Norseman this week.
With the convention market in Perth showing no signs of slowing, the focus has turned to the city’s largest venues and their capacity to attract major national and international events.
Gold prices have fallen as investors take profits on the metal's recent rally after a victorious anti-austerity party in Greece didn't appear inclined to take the country out of the eurozone.
Oil prices have fallen to fresh six-year lows in New York trade despite a warning from OPEC that prices could surge to $US200 owing to a shrinking investment in exploration.
Three aspiring gold miners have announced an increase in projected free cash flow for their respective projects as a result of the strong gold price, coupled with falling fuel costs.
Perth-based Doray Minerals has confirmed solid growth in gold production and disclosed lower costs in the December quarter, as it moves toward completing its takeover of Mutiny Gold.
Mining entrepreneur Nik Zuks has put four Perth properties up for sale as he deals with the sharp slump in the iron ore market, which has slashed the value of his flagship company Bellzone Mining plc.
Mining and civil engineering contractor Maca has downgraded its full-year revenue guidance by $30 million after Sydney-based miner Arrium said it was closing one of its South Australian mines.
Oil prices have fallen on a jump in US petroleum stockpiles and the surge in the US dollar spurred by the European Central Bank's launch of a massive eurozone stimulus.
The head of gold miner Evolution Mining is confident about the year ahead but is warning the industry against losing its way again as the precious metal's value rises.
Macmahon Holdings boss Ross Carroll, who was one of the highest paid chief executives in Western Australia's contracting sector, has resigned with immediate effect, as the company increases its focus on cost cutting.
