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

Corporate Finance DealsView all

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.

Juniors in $23.7m of capital raisings

Northern Minerals and Venturex Resources have announced share placements of $20 million and $3.65 million, respectively.

Pilbara Minerals enters into South Korean JV

Pilbara Minerals has exercised an option to enter into a joint venture with steelmaker Posco to develop a lithium processing facility in South Korea.

Altura increases share purchase plan again to $14m

Altura Mining has increased its share purchase plan (SPP) by $4 million, just two days after it upsized the offer from $5 million to $10 million.

Perth biotech secures $24m

A carefully managed five-year incubation process for new Perth company Respirion Pharmaceuticals has resulted in one of the largest funding deals for Western Australia’s biotech sector.

Politics & the EconomyView all

Perth becoming a cheaper place to live

Perth is shaking off its reputation as an expensive place to live, dropping 18 positions to be 64th of 133 cities surveyed in a recent report by The Economist magazine.

Oil hits four-month highs on output cuts

Oil prices rose to around four-month highs overnight, aided by the prospect of prolonged OPEC-led oil supply curbs and signs of inventory declines in US crude stockpiles.

Palladium peaks on supply crunch

Palladium touched an all-time high overnight, continuing a strong run this year on a supply shortfall of the autocatalyst material, while gold held above the key $US1,300-per-ounce level on expectations the US Federal Reserve will hold rates steady this week.

Wall St higher ahead of Fed meeting

Banks and tech helped lead Wall Street higher on Monday, while Boeing and Facebook were a drag and investors eyed this week's US Federal Reserve meeting for affirmation of its commitment to "patient" monetary policy.

Govt moving towards Bell Group settlement

The state government has confirmed it is in talks to reach a settlement that would end the long-standing dispute over the $1.7 billion of litigation proceeds from Alan Bond’s failed Bell Group.

PropertyView all

Quadrant lease deals follow suburbs-to-CBD trend

Leasing success at The Quadrant on William Street has continued a trend of city fringe and suburban tenants moving to the Perth CBD, while options for firms with large space requirements have become increasingly scarce.

Hotel room rates, occupancy flagged to fall in 2019

Perth’s hotels market has been tipped to be one of the weakest in the country in 2019, with average room rates, occupancy and revenue per room all forecast to fall during the next 12 months.

Lot sales and prices on the rise in Perth

Perth recorded 1,609 lot sales for the September 2018 quarter, up by 8.5 per cent for the quarter and 2 per cent from a year prior, according to the latest Housing Industry Association–CoreLogic 'Residential Land Report'.

Golden Group unveils first stage of Belmont Park

Plans for the first stage of Golden Group’s $3.8 Belmont Park development precinct have been lodged for approval, with the first two buildings comprising residential towers of 32 and 27 storeys.

CoreLogic tips 2020 floor for house prices

Residential property values in Perth are likely to continue to fall throughout 2019 before bottoming out in 2020, according to CoreLogic analyst Cameron Kusher, continuing the longest and largest price correction in the city’s 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

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

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.

Battery Minerals gets new MD, chairman

David Flanagan has moved to a new executive chairman role at Battery Minerals, making way for former Atlas Iron chief operating officer Jeremy Sinclair to become managing director, among several board changes at the graphite company.

Beaver’s goal more than a pipe dream

40under40: It’s said that adversity often provides opportunity, and the success of this year’s Medium Business category winner bears that out.

Topham drills through adversity

40under40: Tim Topham had to wrestle with big challenges to create one of the Goldfields’ most prominent drilling businesses.

Rare earths project blowout to add nearly $92m

Hastings Technology Metals has reported that capital costs of its Yangibana rare earths project are expected to be approximately $427 million, compared to the $335.3 million figure it outlined in its definitive feasibility study.

OpinionView all

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.

Mark my words podcast

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.

Hoteliers shore up share, but there’s room for competition

OPINION: The hotel sector has a patchy recent past when it comes to meeting consumer demand, so the recent attacks on Airbnb are beyond the pale.

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

Neometals pushes Barrambie into the spotlight

Neometals is now fully focussed on progressing the Barrambie vanadium-titanium-magnetite project near Sandstone, WA, towards a final investment decision this year following the completion of the $104m Mt Marion divestment. The company is also planning to complete the Canadian lithium‐ion battery recycling pilot and feasibility study and proving up the potential of its zeolite production process.

Cobalt/scandium discovered by Great Southern in WA

Great Southern Mining has discovered strongly anomalous cobalt and scandium mineralisation in laterite from historical aircore drilling programs completed at its Mt Weld project, near Laverton, WA. Best results were 12m @ 0.19% cobalt from 56m down-hole and 16m at 130g/t scandium from 38m down-hole in separate vertical drill holes. The company is also re-assaying drill samples for their platinum group metal potential.

$20m placement to drive Northern's exploration

Northern Minerals is raising up to $20m through multiple subscription agreements with a number of sophisticated investors to ramp up exploration at the Dazzler and Iceman prospects in the East Kimberley, WA. The company recently released a maiden resource estimate of 144,000 tonnes grading 2.23% TREO for the Dazzler prospect and expects to release an estimate for the Iceman prospect later this year.

Infinity grows San Jose lithium project stake to 75%

Infinity Lithium is now better positioned to attract investment for its integrated San Jose mine and lithium hydroxide refining project in western Spain after increasing its ownership to 75% by paying AUD$1.6m to JV partner Valoriza Mineria over 14 months. Valoriza will retain its contractor rights to develop the project, ensuring that the partners remain aligned on their goals and focus on moving the venture forward.

22% increase in vanadium tonnage for Venus in WA

Venus Metals has generated a new mineral resource estimate of 134.7 million tonnes grading 0.34% vanadium pentoxide for its Youanmi vanadium oxide project near Sandstone in WA. 64% of the mineral resources lie within the confident measured and indicated categories, which will allow the company to accelerate scoping studies and metallurgical test work and define a maiden ore reserve, based on more targeted definition drilling programs.

Most viewed people

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

Tim Bult

Tim Bult

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

Tim Topham

Tim Topham

Managing Director, TopDrill

John Paul Olivier

John Paul Olivier

Group Manager, Strategy , Fortescue Metals Group

Thought LeadershipView all

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

BCRC-WA’s launches new support program for partners of metastatic breast cancer patients

Receiving a diagnosis of breast cancer is devastating, not only for the patient but also for their loved ones.