Mining

MORE than 750 people filled the front steps of Parliament House last month to witness one of Western Australia's most successful young mining entrepreneurs recognised in the WA Business News 40under40 Awards.

Inpex says it remains committed to developing its $12 billion gas processing plant, located in Darwin, after a Liberal Senator said the company could move to offshore locations due to the Rudd government's emissions trading scheme.

Coal baron Ken Talbot will increase his holding in Sundance Resources to 22 per cent after purchasing $5 million worth of shares in the iron ore explorer.

Miner Jabiru Metals has paid down $US15.5 million ($A24 million) of its bank debt after closing out part of its hedge book while its Jaguar copper and zinc mine achieves record monthly production.

Kalahari Minerals has withdrawn legal proceedings against Extract Resources following a unanimous agreement to appoint a new chairman and the resignation of two directors.

Chinese steel maker Hunan Valin Iron and Steel Group Company is set to increase its stake to 17.4 per cent in Fortescue Metals Group by subscribing for a further $87 million in shares.

Acceptance of Sinosteel Corporation's takeover offer for Midwest Corporation has kept Murchison Metals' net profit after tax in the black at $17.5 million.

The Brian Gilbertson-led Pallinghurst Resources and associated company Red Rock Resources is set to take control of Jupiter Mines, which holds several exploration tenements in Western Australia, following shareholder approval.

Mirabela Nickel will need to raise less equity after securing a further $US40 million towards its $US150 million debt facility.

Woodside Petroleum has reportedly signed an agreement with state-owned Korea Gas Corporation to invest in three exploration permits in the Browse Basin.

Nomad Building Solutions has secured contracts worth nearly $30 million from Woodside Petroleum for the construction of two housing lots in the Pilbara, which will house workers for the Pluto liquefied natural gas project.

CHEVRON says it is a step closer to commercialising its Wheatstone project after exploration of two natural gas fields showed there were enough resources to support a two-train development.

Mining and the environment have been lifelong passions for prospector Denis O' Meara

CHINESE company CITIC Pacific Mining is doing more than its fair share to counter the downturn in mining and construction jobs in Western Australia, announcing that the peak workforce on its Sino Iron project will peak at a larger than expected 4,000 peop

Dozens of mining companies are at risk of operating illegally after failing to comply with new security guidelines covering the handling of explosives.

SHARES in Fortescue Metals Group fell as much as 14 per cent in trade as the miner called off its widely mooted $500 million capital raising to institutions.

Thirty Western Australian mining services companies were in Indonesia last week for the annual Ozmine Conference, which aims to align Australian suppliers with the Indonesian mining industry, delivering positive results for those involved.

COMMODITY exports are forecast to fall by 17 per cent in the 2010 financial year but farm export earnings are tipped to rise over the next two years, a report for the nation's commodities forecaster says.

THE changing face of Perth's jazz music scene was highlighted this month by the approval of redevelopment plans for one historic venue coinciding with the opening of another.

Eight mining deals done in Western Australia have featured in the top 250 deals completed globally in 2008 as the value of transactions in the country fell 11 per cent.

Mirabela Nickel has secured a $US150 million ($A238 million) facility from a consortium of lenders to fund development works at its Santa Rita nickel project in Brazil.

Shares in Catalpa Resources have jumped as high as 56 per cent as the company executes a $67.5 million project financing deal with Macquarie Bank and plans to launch a $30 million capital raising.

Chinese company Sinosteel has formally become a substantial holder in Mid West iron ore miner Murchison Metals.

Perth-based Tasman Resources has demanded that former joint venture partner WCP Resources pay $713,848 after it declared force majeure on the Lake Torrens project in South Australia.

Shares in Albidon have slumped as much as 43 per cent as the nickel miner places its Munali operation on care and maintenance and lays off some 350 employees and contractors.

Commodity exports are forecast to fall by 17 per cent in the 2010 financial year but farm export earnings are expected to rise over the next two years, a report for the nation's commodities forecaster says.

Two Japanese companies will buy into the Lake Maitland uranium project in Western Australia after owner Mega Uranium sold a 35 per cent stake for $77 million.

Mount Gibson Iron has booked a $13.3 million half-year net profit amid a deteriorating iron ore environment.

Write-downs totaling $17.6 million and a sharp fall in the nickel price has resulted in Panoramic Resources reporting an $8.6 million loss for the half-year.

TWO peak mining industry bodies have applauded the state government's announcement of an $80 million minerals exploration incentive, to be delivered over four years.

BURSWOOD Entertainment Complex has become the first major Western Australian employer to sign up to the Australian Employment Covenant, a scheme designed to provide 50,000 jobs for indigenous Australians.

Drilling contractor Ausdrill has delivered a record net profit after tax of $25 million for the first half of fiscal 2009, up 52 per cent on the previous corresponding period.