Mining

Western Australia is once again the key player in a money flood, though this time it’s outgoing rather than incoming.

The Deflector copper-gold mine in the Mid West will be simplified and optimised, after an internal review conducted by owner Mutiny Gold.

Western Australian based stocks rose 18.9 per cent in the twelve months to Hune 30, but most of the gains were in the first six months of that period, according to the Deloitte WA Index released today.

Gold futures have ended higher, erasing the previous day's losses, after a lacklustre US labour market reading fanned trader interest in the protective asset and eased jitters over higher interest rates.

US-based oil and gas company Apache Corporation has admitted it intends to completely exit liquefied natural gas projects, including its 13 per cent interest in Chevron’s Wheatstone project.

Drilling company Swick Mining Services has announced it should beat its downgraded guidance for the year in its quarterly update today.

Cape Lambert has reached a settlement with the Australian Tax Office regarding its $96 million tax dispute, agreeing to make a final net payment of $2.4 million.

Oil prices in New York have tumbled to their lowest level since mid-March helped by unplanned refinery shutdowns in the US midwest.

Energy Resources of Australia (ERA) has reported a first half net loss as the uranium price hovers around nine year lows amid weak demand.

Gold miner St Barbara might sell its Gold Ridge operations in the Solomon Islands, where production has been suspended since 3 April due to Tropical Cyclone Ita’s torrential rain and flooding.

Copper today, nickel tomorrow?

The Maritime Union of Australia has called off a strike at Mermaid Marine's Dampier supply base, saying recent constructive talks will hopefully lead to settlement of a new enterprise bargaining agreement.

Gold miner Northern Star has easily beaten its quarterly production target following a string of acquisitions.

Woodside Petroleum's plan to buy back $US2.7 billion worth of shares from Royal Dutch Shell appears set to fail.

Gold futures have continued their losses after the Federal Reserve's monetary policy statement turned out to be in line with investors' expectations.

Oil prices have fallen, putting the US benchmark futures contract within a whisper of $100 a barrel despite a larger-than-expected decline in US crude supplies and heightened geopolitical tensions.

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.