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

Corporate Finance DealsView all

Venture to raise $5.7m for iron ore restart

Venture Minerals will undertake a share placement and rights issue, with the funds set to fast-track the restart of its Riley iron ore mine in Tasmania.

Perron buys Westfield centre stake for $575m

Privately-owned Perth company Perron Group has added to its vast property portfolio by purchasing a 50 per cent stake in Sydney's Westfield Burwood shopping centre for $575 million.

Lynas to develop US processing facility

Lynas Corporation has signed a memorandum of understanding with US-based Blue Line Corporation to set up a rare earths separation facility in Texas, following ongoing regulatory issues at its processing plant in Malaysia.

Andes and Metminco set to merge

ASX-listed Metminco and West Perth-based Andes Resources have agreed binding terms for a merger, which is supported by Andes’ cornerstone shareholder Sandfire Resources.

Deal makers trawl in tough times

OPINION: Business News data points to a sustained low for WA’s corporate finance markets, but there are signs recovery may be imminent.

Politics & the EconomyView all

The only poll that matters is at the coffee shop

In an election that defied pollsters, it was the old-fashioned tally room at Miss Maud that called the result correctly.

Plibersek not contesting Labor leadership

Tanya Plibersek has announced she will not contest the Labor leadership, despite being backed by Julia Gillard and Bill Shorten, leaving Anthony Albanese as the only declared candidate.

Oil slips but ends week higher

Oil prices edged lower on Friday due to demand fears amid a stand-off in Chinese-US trade talks, but both benchmarks ended the week higher on rising concerns over supply disruptions in Middle East shipments due to US-Iran political tensions.

Gold slides to two-week low

Gold prices on Friday slipped to their lowest in two weeks as the US dollar advanced on the back of strong US economic data, putting the metal on track for its biggest weekly decline in a month.

Australia mourns former PM Bob Hawke

With one day left before Australians go to the polls, the country is mourning the death of its most successful Labor prime minister, Bob Hawke.

Upcoming Business News EventsView all

Hyatt Regency Ballroom - 30 May 2019

Hyatt - 11 June 2019

PropertyView all

Sorrento sites sold for $10m to be apartments

Two commercial sites on West Coast Drive in Sorrento were sold to Megara for $9.75 million last month, and are set to be developed into luxury residential apartments.

Government digs in on foreign buyer tax

The state government will not consider pausing or scrapping its surcharge on foreign property purchasers, despite a sharp reduction in sales to offshore buyers and growing scepticism around whether revenue will meet projections.

Proposed estate worth $75m in doubt after liquidation

An entity related to a developer with plans for a 146 block-estate in the suburb of Southern River has been placed into liquidation.

Central Park refurbishment confirmed

Central Park management has confirmed plans to refurbish the office tower's lobby and forecourt, and has said the integrity of Brian McKay's artworks will be maintained.

Hotel boom over after 16 new builds, report

Perth’s hotel construction boom is entering its final phases, as existing and new operators adjust to a market transformed by the largest pipeline of development in Western Australian history.

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

Call to open funding door for homeless

Service providers want immediate action from businesses and government to help people on the streets, who face a shortage of rentals and a lack of social housing.

Surprise leadership changes at Black Swan

Black Swan State Theatre Company announced late on Friday afternoon that executive director Natalie Jenkins would be leaving and recently appointed board member Danielle Norrish would take the role.

Call to give autism skills a chance

Autism advocates want businesses to rethink their notions of individuals on the spectrum.

Theatre feeds corporate diversity

The Black Swan State Theatre Company is leading a push for comprehensive diversity, and connecting with corporate partners through these closely aligned aims.

RSL rebrand for modern veterans

RSLWA has an image issue, but chief executive John McCourt is determined to prove its relevance for a new generation of veterans.

EnergyView all

Edwell to lead power reform taskforce

Horizon Power chair Stephen Edwell has been picked to lead the state government’s Energy Transformation Taskforce, two months after a review into energy policy was first announced.

Cost reduction focus for AGIG

Further downward pressure on gas prices is likely with the owners of the state’s major transmission pipeline planning a big cut in costs.

$11.6m for energy in remote Aboriginal communities

The state government announced it would spend $11.6 million on the installation of solar farms and energy storage in remote Aboriginal communities as part of this years’ State Budget.

$60m biomass, solar plans for Collie axed

Govermment funds earmarked for a biomass energy plant and solar farm at Collie have been transferred to a new $60 million job creation fund that aims to create a long-term future for the town as coal mining winds down in coming years.

LandCorp, Power Ledger in 100% renewable development

LandCorp and energy trading platform Power Ledger have unveiled a 100 per cent renewable energy residential development at East Village at Knutsford near Fremantle.

"Mark My Words" PodcastsView all

17 May 2019

PODCAST: Mark Pownall and Mark Beyer discuss the election overview, Bob Hawke's passing, retail challenges, hotels and tourism, housing construction, Andrew Forrest's big pay day, Danny Psaros, and our special feature on mining projects.

10 May 2019

PODCAST: Mark Pownall and Mark Beyer discuss the state budget, lithium expansion, medical research, Chevron's new headquarters, Sterling First and Rosendorff collapses, a rare IPO, Azure Capital, and our special report on universities.

03 May 2019

PODCAST: Mark Pownall and Matt Mckenzie discuss Wesfarmers' lithium bid, Perth house prices, Aldi's impact, AHG takeover, Tempo, contract awards, the election debate, and our latest Great for the State feature — Future of Energy.

26 April 2019

PODCAST: Mark Beyer and Matt Mckenzie discuss two major private WA companies – Andrew Forrest’s Harvest Road Group and mining contractor Byrnecut – plus the outlook for the Perth Basin and LNG projects, female directors, China’s Huawei, and our special report on construction companies.

18 April 2019

PODCAST: Dan Wilkie and Delia Price discuss Iconic Scarborough, a developer collapses, Hossean Pourzand, Ausdrill fraud, Nedlands' density, the Pavilion Markets, and philanthropy and charitable donations.

Food & WineView all

Drinks giants to run recycling scheme

The state government has selected a newly formed company owned by drink manufacturers Coca-Cola Amatil and Lion to run the state’s container deposit scheme.

Dinner Twist turns to clean, green

Competition has enabled 2015 Rising Stars winner Dinner Twist to define its niche in the meal kit industry.

Liquidation battle for Mad Dogs

Liquidators have been appointed to Mad Dogs Jungle Bar five months after the Milligan Street venue shut its doors following a dispute with the landlord, but it is anticipated the decision may be reversed.

Heytesbury posts $7.9m profit

Revenue at agribusiness Heytesbury Holding dropped 14 per cent to be $47.7 million in the year to December, but sales income was steady.

Gage Roads raises $8m for canning

Gage Roads Brewing Company has raised $8 million via a share placement, with the funds raised to go towards its new canned beer product strategy.

Special ReportsView all

Mining projects 2019

Mining projects 2019

20 May 2019

High-level iron ore, lithium and gold projects set pace for more than 50 developments in fresh commodities boom. WA finds itself in the centre of a new, agribusiness-driven, mining race.

$21bn pours into WA’s top 10 mining projects
Iron ore juniors back in game
Potash players primed for slice of growing market
Universities 2019

Universities 2019

13 May 2019

Widespread government reviews are causing a headache for Western Australia’s major universities, but higher promotional funding and a lift in the state’s share of new international students are encouraging signs.

Unis battle funding cuts, government uncertainty
WA poised for more international students
Great for the State - Edition 2: The Future of Energy

Great for the State - Edition 2: The Future of Energy

07 May 2019

This edition highlights how Western Australia is powering the world into the future, with gas, lithium, hydrogen, and advancements in use of small power networks all part of the state’s strengths. Communities such as Bridgetown and Kwinana stand to benefit from the global move towards batteries for storing energy and powering vehicles, while there’s research under way to advance WA’s capability to move downstream along the value chain. We’ve also explored some of the developments in hydrogen. Business News wants to celebrate the entrepreneurs, the researchers and the leaders who make our state the envy of the world, so our Great for the State series has no paywall.

From gas to lithium, WA powering the world
Electric time for energy hopefuls
Hydrogen fires burning passion for innovation
Spearheading move to power off grid
Seven ways WA stays top in traditional fuels
WA Leads The Charge In Battery Minerals
Electrifying the transport network
Energy choices and health: a fine balance
The future of energy
Construction 2019

Construction 2019

02 May 2019

Our annual Construction review looks at how building companies are coping with the sector’s sharp downturn. We rank the top construction companies and analyse the ‘security of payment’ issue.

Contractors position for market rebound
Sharper focus on shielding subbies
Perth's largest construction jobs
Giving Well 2019

Giving Well 2019

24 April 2019

Some of Perth’s most affluent families have increased their philanthropic activity. We rank the state's largest philanthropic foundations and charities, and talk to Kerry Harmanis, George Jones, Jim Litis and others about their giving.

Family legacy givers lead way with more
Harmanis has mindful plan to help
Personal stories underpin long-term support

MiningView all

$150m pipeline for Kwinana battery valley

About $150 million of non-lithium projects for the battery industry are in the pipeline for Kwinana, with Magellan Power and Pilbara Metals Group the latest proponents.

Vale warns another Brazil dam at risk

Brazilian iron ore miner Vale SA has told prosecutors in the state of Minas Gerais that a dam is at risk of rupturing at its Gongo Soco mine, about 65km from the site of its Brumadinho dam collapse that killed more than 230 people.

Civmec profits fall while order book grows

Civmec has reported a sharp fall in quarterly profit to $141,000 after accounting for cost overruns on projects but has also reported strong growth in its order book.

BHP to keep Nickel West operations

BHP Group will retain its Nickel West business, with a potential expansion of the company's WA nickel operations likely to generate a higher return, with higher risk, than the Scarborough LNG development.

Forrest's $1bn Fortescue reward

Andrew Forrest will have an income of nearly $1 billion this financial year after Fortescue Metals Group announced a 60 cent per share final dividend today.

OpinionView all

Stability must follow election

OPINION: The musical chairs of PMs over the past decade must stop in the interests of the nation

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss the election overview, Bob Hawke's passing, retail challenges, hotels and tourism, housing construction, Andrew Forrest's big pay day, Danny Psaros, and our special feature on mining projects.

Checkout squeeze on centre landlords

OPINION: Damaging supermarket prices wars and more online shoppers have turned the screws on a besieged retail property sector.

Beware the billions for businesses

Opinion: While politicians are showering favoured industries in cash this federal election, voters should remember the recent train wreck of Carnegie Clean Energy as a reminder that subsidies for businesses can flop badly.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss the state budget, lithium expansion, medical research, Chevron's new headquarters, Sterling First and Rosendorff collapses, a rare IPO, Azure Capital, and our special report on universities.

RetailView all

Liquidation as pressure builds at Yagan Square

Two businesses at Yagan Square have shut up shop in recent weeks, with warnings more may follow as tenants grapple with low foot traffic.

AHG downgrades full-year profit

Automotive Holdings Group has downgraded its profit guidance for 2019 due to weak car sales and the performance of its refrigerated logistics division, a week after it recommended an improved takeover offer from rival auto retailer AP Eagers.

Lamborghini aware of curves, optimistic on WA

Car sales in Western Australia might have been down again in April but there’s a sense of optimism about the Australian luxury vehicle market at Lamborghini, as the brand positions itself for two major automotive trends.

Rosendorff receivers liquidating assets

After 55 years of business, iconic Perth jeweller Rosendorff has been placed in receivership.

ALDI says it contributed $139m to WA

A report commissioned by ALDI has found the German supermarket giant contributed over $139 million to Western Australia’s economy in 2018.

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

Northern defines new rare earth target in WA

Northern Minerals has returned encouraging preliminary rare earth element results from portable XRF assaying completed on infill, extension and exploratory RC drilling samples at the Dazzler and Iceman prospects near its Browns Range operation in the East Kimberley region of WA. The company said the results also outlined a new target area just to the northwest of Iceman that is anomalous in the pathfinder element yttrium.

Lithium Australia turns to refining for batteries

Lithium Australia has produced lithium iron phosphate batteries using lithium phosphate that was refined using a simple process developed in conjunction with the Australian Nuclear Science and Technology Organisation. The company expects batteries produced using the cheap and effective refining process to have significant advantages compared to those produced using lithium carbonate

Financier hired to drive Hawkstone’s lithium clay play

Hawkstone Mining has appointed experienced investment banker and corporate advisor, Barnaby Egerton-Warburton, as its Non-Executive Chairman to oversee financing of the emerging Big Sandy lithium clay project in Arizona, US. He previously held executive roles in the resources sector and was most recently a Director of ioneer Limited who is developing the Rhyolite Ridge lithium-boron resource nearby in Nevada state.

Anglo hits higher-grade gold core near Kambalda

Anglo Australian Resources’ infill drilling at the Mandilla South prospect of its Mandilla project near Kambalda, WA, has intersected central core of higher-grade supergene enriched gold with hits of up to 1m @ 5.59g/t gold. Drilling also confirmed the presence of primary gold mineralisation and the potential to link the Mandilla South prospect and the Mandilla East resource into a 4km long camp scale target.

94% rare earth recoveries for Greenland at Kvanefjeld

Greenland Minerals has outlined major improvements at its massive Kvanefjeld project in southern Greenland, including an impressive 8% increase in rare earth recoveries to 94%, compared with its 2016 Feasibility Study metrics. The work will lead to an increase of USD$31m per annum in revenue, based on the current basket prices for REO and provide attractive margins on production, while seriously reducing OPEX costs for the project.

Most viewed people

Michael Bourguignon

Michael Bourguignon

Project Manager, Manono Lithium &
Tin Project, DRC, AVZ Minerals

John Ceccon

John Ceccon

Former Director, Potash Minerals

John Poynton

John Poynton

Co-Founder, Director, Linc Property
Non-Executive Director, Crown Resorts
Executive Chair, Sapien Cyber
Board of Guardians, Future Fund
Non-Executive Chairman, Strike Energy
Non-Executive Director, Crown Perth
Non-Executive Chairman, Jindalee Partners
Non-Executive Chairman, Warrington Property
Non-Executive Chairman, Giving West
Founding Chair of Advisory Board, Alterra

Danielle Norrish

Danielle Norrish

Executive Director-Elect (since May 2019)
(Non-Executive Director Feb-May 2019), Black Swan State Theatre Company
Council Fellow, Guildford Grammar School

Ross Norgard

Ross Norgard

Non-Executive Director, Brockman Mining
Honorary Consul-General, Consulate of Finland
Founding Chair , QPSX Communications
Joint Deputy Non-Executive Chairman, Brockman Resources

Thought LeadershipView all

Help! My employee wants a raise.

Typically associated with sweaty palms and a general feeling of discomfort, it’s likely that at some point you’ve dealt with the pay increase question, either as the employee...or the manager.

Shire launches video to support advocacy efforts

The Shire of Serpentine Jarrahdale launched its advocacy video at an event with key stakeholders at Quarry Farm on Tuesday, 16 April.

New opportunity on offer at emerging Murdoch health and knowledge hub

A world-class centre of excellence for health, education and research is beginning to take shape in Perth’s growing southern corridor – and a new release at LandCorp’s Murdoch Health and Knowledge Pre

BCRC-WA study on the effects a cancer diagnosis has on offspring

In 2018, BCRC-WA conducted a study on the effects a breast cancer diagnosis has on offspring.

Constraint Innovation – Unlocking Value

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