Macquarie Bank

Australia's Western Desert calls administrators as iron ore price plunges

Australian junior iron ore miner Western Desert Resources Ltd said it had called in administrators after failing to negotiate a deal with its bankers, due largely to plunging iron ore prices.

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Irish oil firm PetroNeft raises $6.7M to fund Russian oilfield development

Dublin, Ireland-based oil exploration firm PetroNeft Resources raised $6.7 million (€4.8 million) in combined share placement and debt facility to support the development of its oilfield in Russia.

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