Drama arose when Bounty Mining began negotiating a recapitalisation and new funding package with Amaroo Blackdown Investments. In response to this proposal, QCoal Group delivered other refinancing proposals to Bounty.
The Australian Aboriginal Mining Corporation (AAMC) has secured $27.1 million in debt funding for the development of the First Iron project in the Pilbara.
QCoal has accused Bounty Mining of misleading its shareholders by prioritising a funding proposal it has deemed inferior from Amaroo Blackdown Investments.
Paladin Energy intends to raise up to $37.2 million in a bid to cut costs and capitalise on growing demand in the uranium market.
Capricorn Metals will raise $65 million to advance development of the Karlawinda gold project in the Pilbara region of Western Australia.
Venturex Resources has received $US70 million ($100 million) in funding from global commodity trader Trafigura to develop its Sulphur Springs copper-zinc project near Port Hedland, Western Australia.
Capricorn Metals has secured a $107 million funding package that will be used to advance development of the Karlawinda gold project in the Pilbara, Western Australia.
Drone company Airobotics has raised $US30 million ($42.2 million) in its latest funding round to push its total capital to $US101 million.
Graphex Mining has taken a major step towards becoming a significant supplier of premium, coarse flake graphite by securing up to $US85 million ($119.8 million) with Castlelake to advance its Chilalo project in Tanzania.
Northern Minerals has entered into two separate agreements for $27 million in funding for the development of its Browns Range heavy rare earth pilot plant in Western Australia.
Australian Mines has made an agreement with a New York-based company for $12 million in funding that will be put towards completing the acquisition of the Flemington project in New South Wales.
Gascoyne Resources has raised $19 million through an oversubscribed placement.
Cokal is on track to secure the funding it requires to develop the Bumi Barito Mineral (BBM) coking coal project in Indonesia.
National Australia Bank (NAB) will no longer fund new thermal coal projects in Australia, making it the first of the country’s ‘big four’ banks to officially quit support of the sector.
The Western Australian Government is offering support for the Minerals Research Institute of Western Australia (MRIWA) in the form of a $3 million funding injection launched by Treasurer Ben Wyatt.
Fortescue Metals Group has tapped into strong support from investors to complete a $US1.5 billion ($2.04 billion) bond offering.
With the release of the latest Federal Budget there have been fewer changes than expected, with small business and middle income tax payers the big winners, but how will affect the mining sector?
Three Queensland scientists have been awarded more than half a million dollars for research into innovative solutions for the mining industry. According to QLD minister for innovation, science, and the digital economy Leeanne Enoch, the $540,000 research funding – part of a wider $10 million funding program – will aid the state’s resources industry. “Queensland … Continue reading Mining innovation research wins QLD Gov funding
Queensland federal MPs have called for further ministerial support for a $100 million innovation fund aimed at the mining industry in Central and Northern Queensland.
A fresh round of funding for exploration in Western Australia is expected to boost the industry and help continue a recent surge in gold exploration spending.