Trending financial news for Australia curated by Grafa

Raiden Resources (ASX:RDN) announced the approval of Program of Work for its tenements E47/4061 and E47/4062 at the Andover South Lithium Project.

Ballymore Resources (ASX:BMR) has initiated a 1,000m reverse circulation drilling program comprising 10 holes at its Cedar Ridge prospect, part of the Dittmer Gold Project near Proserpine, North Queensland.

Alcoa (ASX:AAI) is selling its 25% stake in the Ma'aden joint venture to Saudi Arabian Mining for $1.6 billion, simplifying its business.
Austal (ASX:ASB) has secured a $450 million contract with General Dynamics Electric Boat to expand production at its U.S. shipyard.
And finally, Beyond Bank has cancelled its merger with P&N Bank, though no reasons were provided for the deal’s cancellation.

Polymetals Resources (ASX:POL) has secured a US$20 million ($30 million) pre-payment/loan facility to fund the restart of its Endeavor silver, lead, and zinc mine north of Cobar, New South Wales, Australia.

Austal (ASX:ASB) said its subsidiary, Austal USA, has been awarded a substantial US$450 million ($670 million) contract by General Dynamics Electric Boat.

Cardno (ASX:CDD) has ceased efforts to sell its Entrix America business.

Northern Minerals (ASX:NTU) has confirmed strong support from institutional and sophisticated investors, securing $43 million through a two-tranche placement.

Alcoa (ASX:AAI), a bauxite, alumina and aluminium products company, announced a binding agreement to sell its 25.1% ownership in the Ma'aden Joint Venture to Saudi Arabian Mining for approximately $1.1 billion.