IFM Investors eyes $7.4b West Pilbara iron ore project
Australia’s largest infrastructure manager, IFM Investors, is eyeing an investment in the $7.4 billion West Pilbara iron ore project under new majority owners Baosteel and Aurizon, as it continues a push into greenfields resources investments. The Fin
Chevron seeks Gorgon T4 tick
Chevron has set about gaining environmental approval for a fourth processing train at its $US54 billion ($57.7 billion) Gorgon LNG development on Barrow Island in a move industry insiders have described as procedural without any guarantee the expansion, likely to cost at least $US10 billion, will go ahead. The West
Palmer’s $9b bombshell
An increasingly frustrated business sector urged the federal Parliament to adopt some measure of bipartisanship after Clive Palmer vowed to block another $9 billion in savings, causing the government’s budget hole to blow out to $34 billion. The Fin
Reforms ‘won’t save Labor’ in WA
Western Australian Labor elder Jon Ford says the party does not have a “hope in hell” of winning the next state election, despite a dramatic drop in popularity for the governing Liberals. The Fin
$320m offer for Antares’ US assets
Perth-based oil and gas player Antares Energy says it has received a $US300 million ($320.7m) offer for its suite of assets in the US, adding another twist to its increasingly ugly stoush with a US activist fund. The Aus
Abe lands seeking energy security guarantee
Energy security — rather than the headline issue of free trade — is likely to be the key underlying issue Japanese Prime Minister Shinzo Abe wants to discuss in his visit to Australia. The Aus
Poseidon buys Norilsk nickel project
Andrew Forrest -backed junior explorer Poseidon Nickel has bought the Black Swan nickel project from Russian mining giant Norilsk for an undisclosed sum. The Fin
Lamboo, Chinese in $280m graphite merger
The graphite boom continues apace, with Western Australia-focused Lamboo Resources striking a $280 million merger deal with a private Chinese graphite company, and Triton Minerals surging to a new record high on strong Mozambique drill results. The Aus
The Australian Financial Review
Page 1: An increasingly frustrated business sector urged the federal Parliament to adopt some measure of bipartisanship after Clive Palmer vowed to block another $9 billion in savings, causing the government’s budget hole to blow out to $34 billion.
Page 3: Superannuation and fund managers are being told to stop under-quoting how they calculate fees, and face tougher surveillance from the industry watchdog.
Page 4: Clive Palmer has changed tack on climate change and will now support the government’s Direct Action policy but only if it supports his plan for a global emissions trading scheme sometime in the future.
Page 6: Prime Minister Tony Abbott will try to assuage China before Japanese Prime Minister Shinzo Abe’s historic speech to the Australian Parliament Tuesday.
Page 10: Finance Minister Mathias Cormann is threatening to remove a “special deal” created under Labor that exempts industry superannuation funds from opt-in and fee disclosure requirements.
Page 13: Western Australian Labor elder Jon Ford says the party does not have a “hope in hell” of winning the next state election, despite a dramatic drop in popularity for the governing Liberals.
Page 15: Travel booking site Wotif.com says its $703 million takeover offer from US giant Expedia demonstrates the “eat or be eaten”nature of the global economy.
Page 17: Coal producers expanding export terminals at the Port of Abbot Point, and Queensland taxpayers face up to $800 million in remediation costs if they push ahead with plans to dump mud near the Great Barrier Reef, scientists have warned.
Australia’s largest infrastructure manager, IFM Investors, is eyeing an investment in the $7.4 billion West Pilbara iron ore project under new majority owners Baosteel and Aurizon, as it continues a push into greenfields resources investments.
Page 18: Wilson says Rio Tinto is ahead of BHP on autonomous trucks and rail in the Pilbara but that for any type of technology, the second generation is always better than the first.
Page 20: Andrew Forrest -backed junior explorer Poseidon Nickel has bought the Black Swan nickel project from Russian mining giant Norilsk for an undisclosed sum.
The Australian
Page 1: Energy security — rather than the headline issue of free trade — is likely to be the key underlying issue Japanese Prime Minister Shinzo Abe wants to discuss in his visit to Australia.
Page 2: China has warned that the stronger defence relationship between Japan and Australia must not be used to threaten any other regional nations.
Page 4: Clive Palmer is distancing himself from two cheques totalling $12.167 million of Chinese funds spent during his party’s federal election campaign, telling journalists yesterday he “could not recall” being personally responsible for the huge withdrawals.
Page 5: The carbon tax is on track to be repealed this week after the government overcame an early Senate stumble to win crossbench support to bring on the debate despite the objections of Labor and the Greens.
Page 19: Pacific Brands is hunting for its third chief executive in less than two years after John Pollaers resigned yesterday due to a split with the board over the right strategy to resurrect the group’s fortunes.
Etihad Airways chief executive James Hogan says he and his fellow directors from Air New Zealand and Singapore Airlines will be monitoring capacity and pricing issues to ensure Virgin returns to profitability after joining the board of the Australian carrier.
Page 20: Perth-based oil and gas player Antares Energy says it has received a $US300 million ($320.7m) offer for its suite of assets in the US, adding another twist to its increasingly ugly stoush with a US activist fund.
The graphite boom continues apace, with Western Australia-focused Lamboo Resources striking a $280 million merger deal with a private Chinese graphite company, and Triton Minerals surging to a new record high on strong Mozambique drill results.
Page 29: The Abbott government says it will formally respond to recommendations aimed at tackling price gouging of Australian consumers by technology companies.
The West Australian
Page 4: Tony Abbott faces a $34 billion Budget hole after Clive Palmer vowed to block Government plans to axe a string of handouts to low and middle-income earners tied to the mining tax.
Page 13: Perth shoppers face the highest prices of any State capital and among the most expensive in the world.
Business: Chevron has set about gaining environmental approval for a fourth processing train at its $US54 billion ($57.7 billion) Gorgon LNG development on Barrow Island in a move industry insiders have described as procedural without any guarantee the expansion, likely to cost at least $US10 billion, will go ahead.
WA grain growers are on target for another thumping crop after a timely soaking for most of the Wheatbelt to start July.
Watpac has warned Pluton Resources its tolerance for the iron ore miner’s cash flow crisis is limited, despite yesterday agreeing to further payment delays on its mining contract at Cockatoo Island.
China’s Premier says the country’s economy improved in the latest quarter but still faces “downward pressure”.