Mining

Western Australia has again retained the title of being one of the least desirable mining jurisdictions in Australia with inefficient exploration and mining approvals processes at the centre of the state's poor performance, a worldwide survey has found.

Engineering and construction company Clough today announced that Andrew Walsh has resigned his role of chief financial officer and executive director and will terminate his employment on 30 September 2009.

Perth-based Resolute Mining plans to raise up to $35 million through a convertible notes placement as it enters a conditional agreement Barclays Bank to restructure its debt facilities.

Iluka Resources has cut a further 54 jobs at its Western Australian operations as the company moves to focus on its Victorian and South Australian projects.

West Perth-based Shaw River Resources plans to raise up to $5 million through a placement with its largest shareholder, Atlas Iron, backing the raising.

Navigator Resources will press ahead with its acquisition of the Bronzewing gold operation after securing a $16 million debt facility and revealing plans for a $24 million capital raising.

Shares in Murchison Metals have surged as the company flags the potential to increase the scope of its Mid West iron ore operation after setting an additional exploration target of up to 1 billion tonnes.

WESTERN Australian tropical fruit growers and exporters have welcomed lower trade barriers to key markets such as China, but acknowledge there are challenges associated with that.

Experience has demonstrated that funnelling students into courses designed to fill a skills gap just doesn’t seem to work.

GROWING numbers of Australian organisations are offering paid maternity leave according to recent research by the Equal Opportunity for Women in the Workplace Agency and Alcoa of Australia.

LOCAL industry is demanding a say on the state government's next move on energy policy, after it finally scrapped unwelcome plans to merge electricity generator Verve with retailer Synergy.

Wesfarmers appoints two directors

The Western Australian Trade Opportunities Service is operated by the International Trade Centre of the Chamber of Commerce and Industry of Western Australia.

Regional learning looks for a white knight in an increasingly competitive educational marketplace.

AS Baosteel seeks to get the latest big decision across the line at the Foreign Investment Review Board, many share market investors may not realise what legally occurs with a transaction of this nature.

MOLY Mines has revealed plans to raise at least $30 million as part of debt restructure plans and to fund the $10 million development of its iron ore deposit while it progresses its Spinifex Ridge

TWO prominent directors of Western Areas have pocketed more than $11 million from the sale of shares as unrelated company Western Areas Exploration makes its way on to the share register after a lengthy court battle.

A major boardroom shakeup is believed to be imminent at Subiaco-based laterite nickel explorer Graynic Metals.

Panoramic Resources' net profit has slumped 89 per cent to $5.6 million for the year to June 30, down from $53.3 million the previous year after the company's revenues receded on the back of lower nickel prices.

West Perth-based Marengo Mining has welcomed several global investment funds, including Soros Funds Management, onto its register after it raised more than $16 million through a share placement in North America.

Moly Mines has jumped the final logistical hurdle for its $9.4 million Spinifex Ridge iron ore project in the Pilbara after securing port space at the new Utah Point facility in Port Hedland.

Uranium producer Paladin Energy has posted a $US480 million loss for the year to June 30 on the back of large impairment expenses but remains positive about its current operations and growth opportunities.

Perth-based business publisher Aspermont has posted a solid increase in revenue and underlying earnings but one-off restructuring costs have pushed its net result to a loss of $484,000.

West Perth-based Barra Resources has raised $3.5 million through an oversubscribed placement to advance drilling on its key Mt Thirsty nickel and Phillips Find gold projects in Western Australia.

Herald Resources has urged shareholders to reject Jakarta-based PT Bumi Resources' takeover bid, saying the offer is only a quarter of the price the shareholder paid 12 months ago for control of the West Perth company.

A further study to enhance the economics of Toro Energy's Wiluna uranium project in Western Australia has shaved 17 per cent off the capital cost to $162 million.

Scooter manufacturer Vmoto has delivered its fourth successive year of revenue growth but has posted a $4 million loss for the 2009 financial year, largely attributable to the development of its new facility in China.

West Perth-based Northern Iron plans to raise $61.4 million through a rights issue and has selected a new chief executive following a cost blowout at its iron ore project in Norway.

Tap Oil has rejected speculation that its legal battle with Burrup Fertilisers could result in damages worth hundreds of millions or even billions of dollars, instead putting its maximum liability at $US20-25 million.

Macmahon Holdings has offered Nick Bowen a new open-ended contract to remain as chief executive and managing director of the engineering company.

West Perth-based Dominion Mining has recorded a net profit of $31.1 million for fiscal 2009 as higher gold prices offset lower production volumes.

East Perth-based Metals X will pocket more than $16 million after its largest shareholder, Hong Kong company APAC Resources, agreed to lift its interest to 28.3 per cent.