Mining

Pluton Resources says its major shareholder General Nice Resources has appointed KordaMentha as the company’s receivers, after secured creditor Rizhao Port Group Logistics yesterday tried to appoint representatives from FTI Consulting to the same role.

Oil prices have plunged late in the day, after reports that Saudi Arabia was slashing its export prices for the US market while hiking them for Asia.

Gold has extended its four-year low as the US dollar advanced against other currencies and stocks hit new record highs.

Perth-based oil and gas company Range Resources entered into a memorandum of understanding with investor Core Capital Management for the provision of about $US50 million in cash and shares.

Perth-based uranium explorer and developer Toro Energy has secured a $10 million cash injection from global investor The Sentient Group, with a further $10 million to directly fund Toro’s Wiluna project still to come.

Pluton Resources is in the midst of a battle between creditors, with major shareholder General Nice Resources and secured creditor Rizhao Port Group Logistics fighting over who gets to appoint receivers to the iron ore miner.

Embattled collier Continental Coal has struck a $70 million deal to offload its interest in its South African subsidiary, leaving the company debt free and with excess cash reserves.

Our annual Biggest Employers feature has the latest BNiQ data on employment trends in WA, including the companies that are expanding and those that are shrinking, and in-depth analysis of what's happening in mining, construction, health care, accounting, law and other industries.

Global private equity group Denham Capital has teamed up with former Karara Mining chief executive Steve Murdoch to establish a venture that will invest in a handful of new and established mining projects.

Mining and civil engineering firm MACA announced today that it had won $47.9 million worth of project contracts from Main Roads WA and mining giant Rio Tinto in the past three months.

Gold futures have sunk to a four-year low after Japan's plans to expand stimulus efforts catapulted the US dollar near a seven-year high against the yen and breathed new life into the equities rally.

Regis Resources has shown signs of improvement with increased quarterly gold production and lower costs, in both cases delivering a better outcome than the company's own guidance.

BHP Billiton says it will consider expanding its Olympic Dam copper and uranium mine in South Australia only after it improves efficiencies and can run the existing operation at full capacity.

Australia is expected to become the world's largest exporter of liquefied natural gas within four years, according to an HSBC report.

Legacy Iron Ore founding director Sharon Heng has resigned after a board review of financial transactions during the past three years found Ms Heng owed the firm about $868,000.

Electrical contractor ECM Global Project Partners has signed two contracts for work on the Roy Hill and Sino Iron projects in the Pilbara worth $110 million collectively.

Newcrest Mining is considering changing its remuneration structure in response to criticism over what some see as the company's generous salary packages.

Pluton Resources has disclosed that its joint venture partner at the Cockatoo Island iron ore mine wants it removed as manager of the project and has called for it to halt mining operations.

World oil prices have fallen back after two days of modest gains, as the market was not encouraged by a stronger-than-expected estimate of US economic growth in the third quarter.

Gold prices have slid to the lowest level in nearly a month and other precious metals have also fallen sharply, as hawkish comments from the Federal Reserve and strong US economic data indicate the central bank could raise interest rates sooner than expected.

Nickel miner Western Areas is getting closer to marketing a unique bacterial leaching project that will improve its profits by enhancing the grade of concentrate it can produce.

Shares in Blackham Resources have plummeted after it announced it had received commitments for $3.15 million at 11.5 cents per share to fund exploration and development studies at its Matilda gold project.

The price that Empire Oil & Gas will pay, to buy out joint venture partner ERM Power from their Perth Basin assets, has been cut to $15.1 million.

Shares in Kimberley Diamonds closed 25 per cent higher today after the company announced it had entered into a subscription agreement to raise $4.37 million from a Chinese institutional investor.

Melbourne-based nickel explorer PLD Corporation has signed an option agreement to buy collapsed miner Kagara’s Admiral Bay zinc project in the Canning Basin for a cash and shares package worth up to $7 million.

Atlas Iron has shrugged off concerns about current market conditions and its thin margins, using its annual general meeting yesterday to remind shareholders of its development track record in an intensely competitive environment as proof it is a survivor committed to doing what it takes.

World oil prices have rallied after a smaller-than-expected increase in US crude inventories and the OPEC chief's comments that recent price falls are unjustifed.

Gold prices have extended their losses in electronic trading Wednesday, after the Federal Reserve said it would end its bond-purchase program and modestly upgraded its view on the job market.

The City of Geraldton has sold an 8.8-hectare parcel of land for $880,000 to Tersum Energy which expects to spend between $60 million and $80 million to build a 30-megawatt gas fired power station, and is in ongoing negotiations for offtake power.

Melbourne-based gold miner St Barbara has announced plans to appoint former Gindalbie Metals managing director Tim Netscher as chairman, as part of its ongoing board renewal.

White Star Resources has gained backing from Perth businessmen Rod Jones and Brent Stewart, who plan to invest in a $4 million capital raising to support the acquisition of Spookfish and Geospatial Investments.

Global oil prices have risen, lifted a bit by a weaker dollar and ahead of the weekly US inventories report.