Mining

Brierty Contractors Ltd has joined the rush of mining services and contracting groups planning to list on the Australian Securities Exchange with the launch this week of a $60 million initial public offering.

West Perth-based private company Asia Resources 168 Ltd has signed a farm-in deal with Carnegie Minerals Plc, which will see the UK-based company fund a nickel and iron exploration program on Asia Resources' tenements on Indonesia's Obi Island.

Funding problems surrounding West Perth-based Sphere Investments Ltd's Guelb el Aouj iron ore project in Mauritania have been resolved, with one party to a joint venture planning to take a 49.9 per cent stake deciding to go it alone.

It's been a bumper day for capital raisings on the Australian Securities Exchange, with six Western Australian mining and mineral services companies in the midst of raising $250 million in additional funding.

Leederville-based iron ore explorer Cape Lambert Iron Ore Ltd has acquired three tenements adjacent to its namesake project for $4 million in cash and scrip, the company has announced.

View Resources Ltd has suspended its shares amid speculation of a $10 million placement, roughly equal to 10 per cent of its current market capitalisation.

Osborne Park-based Fairstar Resources Ltd has hit back at a claim by its takeover target, Leederville-based gold explorer Golden West Resources Ltd, that the company had failed to outline tax consequences for shareholders accepting the offer.

One of the many Western Australian law firms to benefit from the local resources boom has recognised an opportunity on another continent where local miners are prominent. Minter Ellison’s Perth office has established an African centre of excellence to

Grange Resources Ltd managing director Geoff Wedlock (above) has resigned from his position and is due to leave the company in January next year.