Mining

Rio Tinto has sold its Rio Tinto Coal Mozambique subsidiary, including the major assets acquired in its $3.9 billion purchase of Riversdale Mining in 2011, for just $US50 million.

Perth based junior airline Cobham Aviation Services has been awarded a contract to provide fly-in, fly-out services to two Gold Fields Australia mine sites in Western Australia.

Chevron Australia has awarded a five-year contract for the supply of hire equipment services to Coates Hire West.

Gold miner Ramelius Resources has reduced its cash costs and produced more than 25,000 ounces of gold in the June quarter.

Valmec Australia, formerly known as MCore Services and Marsh Civil, has secured contracts worth $10.5 million through its gas and multi-discipline divisions across a number of WA based industries including land infrastructure, engineering services and civil works.

Gold and mineral explorer Renaissance Minerals has completed a $6 million equity placement to fund acceleration of exploration and drilling activity at its fully owned Cambodian gold project.

The latest mining tax take would barely cover the annual salary of a single senior public servant.

Oil prices in New York have fallen on a weak US crude demand outlook, while European oil prices have risen on concerns about Libya and new European Union sanctions on Russia.

Potash West has announced it will farm into a historic potash producing region of Germany under a joint venture agreement, with a right to earn 55 per cent if it funds early exploration activities in the South Harz potash district.

Poseidon Nickel has released its June quarter update, after acquiring the Black Swan project from Norilsk for $1.5 million.

In the final installment of our four-part series on EY Entrepreneur of the Year nominees, we talk to chief executives of six contracting and consulting businesses.

Owners of graphite stocks have enjoyed strong returns during the past year on the back of demand for the mineral’s use in lithium ion batteries, however it is the potential to tap new markets that has some in the sector even more excited.

Gold producers Resolute Mining and Troy Resources have released their quarterly activities reports for the June quarter, with Troy’s share price falling more than 22 per cent on the results.

Perth-based engineering groups Kerman Contracting and Monadelphous Group have announced contract wins collectively worth more than $300 million at CITIC Pacific Mining's Sino Iron development near Cape Preston.

Shares in former Perth-based company IMX Resources have more than doubled today, as the company has announced a significant graphite deposit at its Nachingwea property in Tanzania, with a graphitic unit up to 500 metres wide and more than 10 kilometres long.

Mining magnate Gina Rinehart has joined the leaders of other major resources companies in calling for the scrapping of the mining tax.

The state government has completed a $6.7 million upgrade to the water supply scheme for Halls Creek to support the future growth of the town.

Formerly Perth-based IMX Resources has announced a significant graphite deposit at its Nachingwea property in Tanzania, with a graphitic unit up to 500 metres wide and more than 10 kilometres long.

The mining sector has reached a new five-year low, with confidence levels likely to take years to recover, according to industry leaders surveyed in the latest Mining Business Outlook report.

Chemical giant Orica said it has regretted a series of pollution incidents which resulted in it being fined more than $750,000 and has pledged to improve the facilities where the problems happened.

Oil prices have dropped in spite of worsening violence in Libya and ongoing trouble in other petroleum hotspots as traders focus on the lofty state of oil supplies.

Stonehenge Metals has signed a deal with Korea Resources Investments and Development to provide the framework for a joint venture between the two companies.

Alicanto Minerals has today announced it has received firm commitments for a placement of 10 million shares to raise $1.5 million, and will be offering an additional $300,000 share purchase plan to eligible shareholders.

ACA Lawyers has obtained funding to mount a class action against mining services firm WorleyParsons, claiming that it lacked transparency around the company's performance last year.

Perth-based Liquefied Natural Gas has agreed to buy out Anadarko Petroleum Corporation’s Bear Head LNG project for $US11 million.

Mermaid Marine Australia managing director Jeff Weber has defended the company’s stance on negotiations with the Maritime Union of Australia, after employees at its Dampier Supply Base said on Friday they would strike for 10 days.

Perth based copper explorer Avanco Resources has finalised a deal with global resources funds management giant BlackRock, which will provide $US12 million to fund development of the Antas North site in Brazil.

Mining services company Boart Longyear has said the fall in demand for its products may be over, but warned analysts are over-estimating what the company will earn in 2014.

Kalgoorlie-based MacPhersons Resources has announced a new share placement to raise up $10.4 million to fund a bankable feasibility study on its Nimbus silver project.

Gold and copper explorer Silver Lake Resources has reached agreement with Newcrest Mining for acquisition of its share of the Mount Monger joint venture for around $1.5 million.

Gold prices have rebounded as investors step in to scoop up the metal amid conflicts in Ukraine and the Middle East.

Great Western Exploration has announced the appointment of Terry Grammer to its board as a non-executive director.