Latest Mining Industry News

Invictus Energy has entered FY2027 with A$10.89 million in cash and a funded November drilling target, but its annual report warns that further financing may be required to continue operations. The company also reported a wider A$6.54 million loss for FY2026.

Iron Bear Resources says a new federal-provincial assessment framework, major Labrador clean-energy investment and strategic-project coordination could improve the development pathway for its Canadian iron ore project. The initiatives are supportive, but they do not yet represent project approvals, secured power or construction funding.

Moody’s has affirmed Emeco’s Ba3 corporate family rating with a stable outlook, citing lower leverage, strong liquidity and the growing contribution from maintenance services. The rating remains constrained by Emeco’s smaller scale and exposure to mining-sector cycles.

Maronan Metals appoints experienced mining executive Andrew Graham as Managing Director and CEO, marking a key leadership transition to advance its Maronan Project through drilling and feasibility milestones.

Duratec Limited (ASX:DUR) reported a 4.1% rise in net profit after tax to $23.8 million for FY26 on stable revenue, underpinned by a record $650.8 million order book and multiple strategic acquisitions expanding its service portfolio.

Diablo Resources has secured an 80% stake in the historic Horn Silver Project in Utah, unlocking a portfolio of high-grade silver, gold, copper, and antimony targets. The acquisition complements its nearby Star Range assets and aligns with US critical minerals priorities.

Papyrus Australia updates its timeline for delivering biodegradable fibre board to TBS Mining Solutions, following trial results that require product refinements. Commercial supply is now expected from November 2026, with acceptance testing due by September.

CZR Resources has launched a recommended takeover bid for Zuleika Gold, backed by a robust $65 million cash position and promising drilling results at its Croydon Gold Project.

RooLife Group (ASX:RLG) is expanding its renewable energy footprint by acquiring a battery storage and microgrid business and raising $1.06 million in a placement to fund growth and project delivery.

Cavalier Resources has lifted the net present value of its Crawford Gold Project by 50%, securing a $23 million financing package and advancing pre-production activities as it moves closer to development.

Canadian Phosphate has secured a five-year exploration permit for its Wapiti Phosphate Project and commenced a 3,000m drilling campaign, while progressing the pending acquisition of the Diamond Mountain Project in Utah. A $5.2 million capital raise positions the company to accelerate its North American phosphate ambitions.

Mitchell Services reported a robust FY26 with EBITDA up 67% and a net cash position of $3.5 million, driven by a shift towards gold projects and rising rig activity.