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Business News - Business, finance, political, & economic news.

Corporate Finance DealsView all

Blackham to raise $26m to help pay off debts

Blackham Resources has announced a fully underwritten renounceable entitlements issue to raise $25.8 million, of which $10 million will be used to pay debts owing to contractor MACA and The Lind Partners.

Crusader sells Juruena to Meteoric for up to $3.5m

Meteoric Resources has struck a deal to pay up to $3 million in cash and scrip for Crusader’s Resources Juruena and Novo Astro gold projects, and Crusader has increased the underwriting of its $4.2 million rights issue by $1 million.

Robayne emerges from administration

Private equity investors have bought the assets and business of Welshpool-based coatings distributor Robayne, two months after the company was placed into voluntary administration.

Kalium obtains $102m in funding for Beyondie

Kalium Lakes has secured around $102 million of debt funding for the development of its Beyondie sulphate of potash (SOP) project, less than a month after receiving commitments for $74 million from the Northern Australia Infrastructure Facility for the project.

Mincor signs offtake agreement with BHP Nickel West

Mincor Resources has extended its offtake agreement with BHP Nickel West, marking a key step in Mincor’s restart of its Kambalda nickel operations.

Politics & the EconomyView all

Oil near 2019 peak as supplies tighten

Oil fell nearly one per cent overnight but held near 2019 highs, supported by a tightening of global stocks, OPEC production cuts and US sanctions on key producers Iran and Venezuela.

Gold slips as jobs data lifts US dollar

Gold prices dipped overnight in volatile trade after hitting three-week highs earlier in the session as a set of better than expected US data lifted the US dollar, while palladium notched a record peak on supply concerns.

Wall St rises as Apple, tech shares climb

An Apple-led tech rally has pushed Wall Street higher as jitters over the Federal Reserve's forecast of an economic slowdown were calmed by upbeat economic data.

Leadership needed to push licence reform

Appointing a senior minister to manage reform of business licensing and sunset clauses would assist the state government control the proliferation of permits that tie-up enterprises, according to a review released today.

WA’s unemployment down from 17-year highs

The unemployment rate in Western Australia fell by 1 per cent in February, as 11,000 people stopped looking for work.

PropertyView all

SMEs join suburbs to CBD office flight

Small to medium enterprises have joined the unrelenting migration of firms moving from the suburbs to Perth’s CBD, with affordability in the central city office market described as unprecedented.

Far East’s Perth projects raise bar

Residents will start moving into Far East Consortium’s premium apartments project The Towers at Elizabeth Quay before the end of the month, with the Hong Kong-headquartered developer shifting focus to its Perth Hub at Perth City Link as its Ritz-Carlton Hotel also nears completion.

Pindan wins $70m aged care build

Aged care group Rosewood has appointed Pindan for its latest build, a $70 million facility to be built on Cleaver Street in West Perth that will include a restoration of the heritage-listed Florence Hummerston Lodge.

BHP starts $1.2m Brookfield logo upgrade

The replacement of the logo at the top of Perth’s second tallest skyscraper has commenced, after BHP Group changed its name from BHP Billiton in November.

Doric, Jaxon to share CEO

Construction companies Doric and Jaxon have unveiled a management shakeup, with David Dodds to exit the group and Vince Mulholland to take the reins of the combined business.

WA Event CalendarView all

WA's most comprehensive guide to forthcoming business-related events. To list an upcoming WA event on this page, complete the online submission form.

Arts & CommunityView all

Curtis leads philanthropic shift

40under40: Alicia Curtis credits her years of community involvement as providing the foundations of her passion for philanthropy.

Local focus for dementia care

After a turbulent year shifting from a national partnership, Alzheimer’s WA is leading the charge to help WA communities deal with the growing number of dementia sufferers.

Delivering the Karijini experience

A Pilbara not for profit is using the Karijini Experience to boost its social enterprise arm, while shunning sponsorship from mining companies.

Mineral Resources wins naming rights for Eagles' nest

The West Coast Eagles’ new $50 million training facility in Lathlain is now known as Mineral Resources Park, with the diversified mining group signing a sponsorship deal with the reigning AFL Premiers.

Ballet seeks to align with business

Regional tours have become a regular fixture on the calendars of Western Australia’s biggest arts companies, but ensuring the programs’ longevity remains a financial challenge for many.

EnergyView all

Mooney throws Carnegie a lifeline

Carnegie Clean Energy company secretary and non-executive director Grant Mooney has agreed to help fund the company’s operations, while administrators KordaMentha attempt to recapitalise its core wave energy business.

Carnegie enters administration

Carnegie Clean Energy has gone into voluntary administration, three days after the state government withdrew funding for its Albany Wave project.

Uncertainty hangs over Browse, Scarborough emissions

Woodside Petroleum has warned it would need to ramp down production at the Burrup Hub in the mid 2020s if the state government does not land on an emissions policy that would support the company’s $46 billion of backfill projects.

Chevron picks Aker for Jansz-Io design work

A second major project to backfill gas into the Gorgon LNG plant on Barrow Island is on the horizon, with Chevron appointing Norway-based Aker Solutions for front end engineering and design work on the Jansz-Io compression project.

WA govt rejects EPA carbon neutral advice

A recommendation by Western Australia's environmental watchdog that new emissions-intensive projects should be carbon neutral has swiftly been rejected by the state government.

"Mark My Words" PodcastsView all

15 March 2019

PODCAST: Mark Pownall and Mark Beyer discuss 40under40, EPA carbon shift, biotech, KPMG buys Ferrier Hodgson, Optus stadium, executive remuneration, and our special report on oil and gas.

08 March 2019

PODCAST: Mark Pownall and Mark Beyer discuss carbon crackdown, Fraser Institute ranking, WA tech partnerships, lithium green light, pub sales, women in business, WACA upgrade, and our 40under40 preview.

01 March 2019

PODCAST: Mark Pownall and Mark Beyer discuss the BGC sale, housing starts, Treasurer’s forecast, Alinta’s wind farm, the Pavilion Market site in Subiaco, family business succession, and our special feature on land developers.

27 February 2019

PODCAST: Mark Pownall and Mark Beyer discuss challenges facing company directors and their own experiences undertaking Australian Institute of Company Directors courses.

22 February 2019

PODCAST: Mark Pownall and Mark Beyer discuss Julie Bishop, unemployment, big contract wins, interim profit reports, Airbnb, Rottnest glamping, John Langoulant and our special report on junior miners.

Food & WineView all

Gage Roads to open microbrewery in Sydney

Perth-based Gage Roads Brewing Company is setting up shop in Sydney after securing a site for its first microbrewery and taproom in the inner-city suburb of Redfern.

Keybridge unwraps $20m bid for Yowie

Listed investment firm Keybridge Capital has unwrapped a $20 million takeover bid for loss-making confectionary company Yowie.

New plan approved for old synagogue

Fremantle’s idle synagogue will be transformed into a restaurant and hospitality venue after Fremantle Council’s planning committee approved the proposal last night, the latest of a string of approved plans to repurpose heritage buildings in the area.

Evolving the offering a priority for Perth publican

With the recent acquisitions of The Breakwater and the Newport, Perth-based hospitality group Capitol Corp is continuing to diversify its offering.

Single Fin drives solid quarter for Gage Roads Brewing

Gage Roads Brewing’s Single Fin Summer Ale has propelled the Palmyra-based brewer to a quarter of solid growth, after the brew was named the nation’s fastest-growing beer brand late last year.

Special ReportsView all

Oil & gas 2019

Oil & gas 2019

18 March 2019

18 projects worth $60bn in pipeline

Contracts, challenges for $60bn of oil and gas projects
Woodside, Evol aim to fuel ships boom
Land developers 2019

Land developers 2019

05 March 2019

Resilient players await sector uptick

Resilient developers await market rebound
Amex rebrand the latest in shifting landscape
Choice drives LandCorp infill push
Junior miners 2019

Junior miners 2019

25 February 2019

Junior miners come under pressure from the market conditions, and from the regulators.

Mergers, brownfields projects options for struggling juniors
Disclosure concerns on the rise
Risks to WA

Risks to WA

04 February 2019

Concern over China, skills shortages, politics

All eyes on China amid slowing global trade
Project pick-up puts pressure on skills
Business, investors count down to key poll

MiningView all

Judge labels Palmer/CITIC dispute a waste

Supreme Court justice Kenneth Martin has slammed the long-running legal battle between Clive Palmer’s Mineralogy and CITIC Pacific Mining as a massive, unnecessary waste of judicial resources, with both parties bearing responsibility.

FMG to create autonomous transport for urban areas

Fortescue Metals Group will establish a research and development centre in Karratha to develop autonomous transport for urban areas.

Beament sells $22m stake

Northern Star Resources executive chairman Bill Beament has sold about $22 million worth of shares in the gold miner, as part of a Family Court settlement.

Perth the home for $46m mining centre

A federal Labor government will make Perth the home base for an Australian Future Mines centre, and has also pledged to provide 50 mining engineering scholarships at WA universities.

Brazil court stops two more Vale operations

A Brazilian court has ordered Vale SA, the world's largest iron ore miner, to suspend operations at two more dams, demanding that it prove the structures are stable.

OpinionView all

Inflection point for transport

OPINION: Emissions concerns are one factor driving change in the car industry, but the transport habits of a changing demographic are also in play.

EPA stirs resources sector

OPINION: Industrial emissions policy in a resources state such as WA is fraught, with much of the electorate wanting action and business requiring certainty.

Awards track changing dynamic

OPINION: Over nearly two decades the 40under40 Awards have provided a series of snapshots of the state’s business sector.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss 40under40, EPA carbon shift, biotech, KPMG buys Ferrier Hodgson, Optus stadium, executive remuneration, and our special report on oil and gas.

Ignoring the issue no answer to climate clash

OPINION: The clash between domestic politics and international climate-change law was on stark display in WA last week as the EPA weighed in with an emissions recommendation.

RetailView all

Myer shares soar after first-half profit

Myer shares are soaring after the department store chain cut its debt by a third and posted a $38.4 million first-half profit.

Coles unloads pubs operation in $200m deal

Coles is offloading management of its 87 pubs, including four in Western Australia, in a $200 million deal with private equity controlled Australian Venue Co.

Harvey Norman profit up but Aust sales dip

Harvey Norman has lifted first-half profit on a strong performance at its overseas ventures, but sales at the company's Australian franchises were weak.

Wesfarmers shareholders to receive $1bn special dividend

Wesfarmers is handing more than $1 billion of the cash it raised by demerging Coles and selling other assets back to shareholders in the form of a special dividend.

Woolies dips on 'below expectation' profit

Woolworths shares have taken a knock after the supermarket giant reported a disappointing first half and flagged subdued consumer spending for the foreseeable future.

SkylineView all

Skyline

Property Council cautiously backs noise reforms

The Property Council of Australia has welcomed proposed laws governing apartment projects in entertainment precincts, but has expressed caution about where the policy applies and its impact on planning approvals.

Hibernian Place tops UDIA awards

BGC Development’s Westin Hotel and Hibernian Place development was picked as the top project in Western Australia in this year’s Urban Development Institute Australia WA awards.

Regus takes space at new Raine Square office

International serviced office provider Regus is close to finalising a lease for new office space at Raine Square, being developed by Charter Hall Group.

Access key at Linc industrial estate

Mining services, logistics warehousing and food services firms are boosting demand for industrial property.

The Village Margaret River on the market

Sirona Capital has engaged Colliers International and CBRE to offer its 5,706 square metre shopping centre in Margaret River to the market.

Bulls N' BearsView all

Bulls N' Bears

Buru set for renewed oil search in northern WA

Buru Energy is cashed up, partnered up and has a glint in its eye again as it embarks on a multi-million dollar search for more oil riches in the lucrative Canning hydrocarbon basin in WA’s north. It is preparing to drill two production wells to increase production at its Ungani oilfield and up to four exploration wells to test promising oil prospects in the underexplored region. With $64m in the bank and Chinese firm Roc Oil riding shotgun with a $20m farm in agreement, Buru has its chip back on the board.

Tyranna charges ahead with mining study at Eureka

Tyranna Resources is continuing its determined push to extract near-term cash flow from the Eureka gold project, 50km north of Kalgoorlie. Just weeks after releasing an updated mineral resource, Tyranna has now appointed mining consultant firm Entech to work out the best way to get Eureka into production via processing through one of the many mills in the region and is also planning the next phase of exploration.

Blackearth eyes new high-grade graphite target

ASX-listed graphite specialist Blackearth Minerals is shooting for a high-grade target of up to 34 million tonnes at its Ianapera project in Madagascar after final assays from a trenching program produced yet more impressive results. Latest assays include 14m grading 14.0% total graphitic carbon and follow news earlier this month of a whopping 18m intersection going 22.06% TGC.

Lithium Australia launches German battery study

Lithium Australia has kicked off a preliminary feasibility study to evaluate the production of lithium iron phosphate battery cathode powders using mica feed material sourced from its Sadisdorf lithium-tin deposit in Germany. The study is seeking to provide supply chain security by delivering cathode materials that require neither cobalt or nickel whilst remaining competitive with batteries using standard lithium carbonate materials.

Calidus opens new front in hunt for more Pilbara gold

Caldius Resources does not appear to be resting on its laurels after recently announcing a 1.25 million ounce gold resource in the Pilbara with the ASX junior this week kicking off a drill program to test new targets at its highly prospective Warrawoona project. The program will test three high-priority targets from soil geochemistry that showed the largely unexplored region is still rich with potential.

Most viewed people

Tim Bult

Tim Bult

Director, International Business Development &
Associate Business (since 2015), Wesfarmers
Board Member, West Australian Ballet

Joe Ricciardo

Joe Ricciardo

Former Non-Executive Director, Mineral Resources
Former Executive Chairman, GR Engineering Services

Hannah Mann

Hannah Mann

Founder, Managing Partner, Kimberley Pharmacy Services

Sterling Buntine

Sterling Buntine

Owner, Buntine Family Pastoral

Lisa Fini

Lisa Fini

Non-Executive Director, UnitingCare West

Thought LeadershipView all

Constraint Innovation – Unlocking Value

Constraint Innovation allows management to plan for and manage constraints in dynamic, uncertain environments despite scarce resources.

Business Focus on Real Estate Agencies

What the changing business landscape means for real estate It’s a fact that our business environment is changing significantly, and the real estate sector is no exception.

Europe is open for business

Europe and Australia are closer than ever in terms of bilateral, regional and global cooperation. This partnership continues to grow.

Green tips to introduce CSR to your organisation

It’s the three words that all companies hear, yet most find hard to actively respond to; Corporate Social Responsibility.So, what actually is Corporate Social Responsibility (CSR) and how can you, as

Elevating Australia - setting the standards for the Oil & Gas industry

More than ever, operators, suppliers, contractors and drilling companies alike are aware of the need for and value of comprehensive sets of standards that provide greater consistency of safe practices