Belmont-based contractor GR Engineering Services lifted its full-year profit by 89.3 per cent to $14.2 million, despite a drop in revenue of 0.4 per cent to $114.2 million.
Perth gold company Resolute Mining says the combination of lower gold prices and higher costs were behind a 60 per cent drop in full-year profit, to $33 million..
FEATURE: Having gained notoriety in the 1996 movie Jerry Maguire, the phrase ‘show me the money’ will be heard often, and loudly, in business in Western Australia in coming years as capital inflows become capital outflows and funds become harder-than-ever to raise.
Drilling services provider Swick Mining Services has released its earnings and dividend for the 12 months to June 30, with net profit after tax down 83 per cent year-on-year to $1.5 million.
Exploration firm Energia Minerals has reached an agreement with Euroz Securities to take an $8 million funding package to help fast-track development of its Gorno zinc project near Bergamo in north Italy.
Southern Cross Electrical Engineering has won a $70 million electrical and instrumentation works contract from CITIC Pacific for its Sino Iron project at Cape Preston, adding to a $10 million job won two weeks ago.
FEATURE: Two Perth-based organisations – one well established and one relatively new – are taking giant strides towards normalising and encouraging more women in mining workforces.
FEATURE: A stubbornly high dollar, falling prices and high operating costs are combining to exert real pressure on smaller players in the iron ore sector.
FEATURE: Industrial uncertainty and an urgent need for more infrastructure are putting the squeeze on iron ore exports through Port Hedland, while productivity increases and transshipment options are also being mulled over statewide.
FEATURE: Mining sector players are creating innovative solutions – particularly in the iron ore, uranium, and base metals areas, and the graduate labour market – to deal with the changing economic environment.
Welshpool-based contractor MACA has raised its full-year net profit by 12 per cent to $55.4 million despite weather setbacks during the year, and increased revenue by 25.2 per cent to $595.4 million.
Perth nickel miner Western Areas has returned to the black with a full-year net profit of $25.5 million, on the back of an improvement in the price of nickel and lower production costs.
Waste management company Tox Free Solutions has announced a 60 per cent increase in net profit to 21.7 million on the back of a 30 per cent rise in revenue to $369.9 million.
Iron ore exporter Atlas Iron has taken a $25 million hit to earnings as a result of restructuring and valuation changes to its Centaurus Metals investment.
Iluka Resources says it will continue cutting production until conditions improve and blamed lower prices for a fall in first half net profit by two thirds.
Santos has lifted its dividend to shareholders, despite suffering a 24 per cent slide in its first half profit as writedowns in Indonesia offset higher production and sales.
Engineering and infrastructure company RCR Tomlinson has returned a fifth straight year of revenue growth, delivering a statutory net profit after tax of $43.3 million.
Pilbara iron ore miner BC Iron has flagged lower production and haulage rates from its Nullagine joint venture operation with Fortescue Metals Group while initiatives are put in place to more efficiently process iron ore from the site.
Emeco Holdings has reported a net loss of $21.6 million, down from a $28.5 million profit last year, following a series of downgrades and write-downs on the back of a slowdown in the mining sector.
