Continued growth of the Pilbara as an export-focused iron ore province received a huge boost today when Chinese steel giant Baosteel and Australian railway operator Aurizon teamed up to bid for the Perth company behind a $6 billion port and rail project.
Perth-based mining and exploration company Mindax will reduce its board membership from six down to four as a part of a company restructuring effort designed to minimise costs.
Cash Converters has entered into a joint venture with American pawn store giant EZCORP to launch the cash converters brand in Mexico and South America.
Western Areas is looking to raise $104 million to reduce debt and provide greater financial flexibility after a positive half-year report which saw the nickel miner turn a big loss to a modest $2.7 million net profit.
Perth-based Rumble Resources has signed an earn-in agreement with Blackham Resources for the acquisition of up to 75 per cent of the Zanthus project inside the Albany Fraser Tectonic Zone in the State’s south west.
Redstone Resources has raised $1.65 million to fund exploration of its 100 per cent owned Tollu copper project in the West Musgrave region of Western Australia.
Perth-based miner Integrated Resources Group has signed a conditional farm-in agreement of up to 85 per cent of four permits with more than 3000 square kilometres of prospective copper-filled land in Zambia.
Perth-based Volta Mining has raised $2.5 million to advance its exploration efforts at the DSO Newman iron ore project in the Pilbara and has completed the acquisition of Pilbara Commodities.
Struggling contractor Forge Group has forecast a loss of up to $25 million for the 2014 financial year, slashing its earnings guidance on the back of cost blow-outs at several projects.
US-based multinational Rollins Inc. has announced an agreement to acquire the assets and operations of Welshpool-based pest control company Allpest WA.
Sino-Australian investment house ASF Group will become the single largest shareholder in Perth-based Key Petroleum after agreeing to a 19.9 per cent placement of Key shares as the company expands its interests in Canning Basin oil and gas plays.
The state government has postponed some of its big transport infrastructure projects in order to reduce the projected increase in state debt, as it strives to regain its AAA credit rating.
Eden Energy will continue to wait to sell its entire UK coal seam methane and shale gas portfolio for up to £11.5 million ($21 million), due to UK-based buyer Shale Energy failing to complete a £7 million capital raising for the purchase.
McAleese Resources, a subsidiary of McAleese Group, has been awarded a four year, $250 million iron ore haulage contract for Atlas Iron’s Mt Webber mine in the Pilbara.
