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

Corporate Finance DealsView all

Gold juniors to raise $7.1m

Crusader Resources is seeking to raise $4.1 million via a rights issue, while Amani Gold has raised $3 million through a share placement, as both juniors seek to advance their gold projects.

Mincor buys IGO’s Long for $9.5m

Mincor Resources is moving closer towards a revival of its nickel operations after it acquired the Long mine from Independence Group for up to $9.5 million and announced a capital raising.

Wesfarmers' Kidman takeover a step closer

Kidman Resources shareholders will vote on Wesfarmers' $776 million takeover offer in August, as the conglomerate flagged a $700 million investment in the Mt Holland lithium project.

NRW downplays possible BGC acquisition

NRW Holdings has denied media speculation it is in advanced discussions to acquire BGC Contracting, but it has not explicitly ruled out interest in the privately owned business.

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.

Politics & the EconomyView all

Battle over future of Subbies WA

An emotional and complicated dispute has broken out among current and former committee members of Subcontractors WA, after former chairperson Louise Stewart resigned in February to contest the seat of Curtin at the recent federal election.

Oil price drops on swelling US stockpiles

Oil prices fell about 2 per cent overnight as an unexpected build in US crude inventories compounded investor worries that a trade fight between the US and China could dent crude demand over the long haul.

Gold holds steady above two-week low

Gold was little changed overnight after the minutes from the latest US Federal Reserve meeting were released, but the precious metal was trading above the two-week low hit in the last session as stock markets slid on fresh trade tensions.

Bowen out of Labor race, Albo in box seat

Anthony Albanese could soon be elected unopposed as the new Labor leader after challenger Chris Bowen pulled out of the race.

Oil steady amid US-Iran dispute, trade war

Oil futures were steady as the prospect of mounting US-Iran tensions disrupting supply was offset by concerns that a lengthy trade war between Washington and Beijing would limit crude demand.

Upcoming Business News EventsView all

Hyatt Regency Ballroom - 30 May 2019

Hyatt - 11 June 2019

PropertyView all

Innovation at heart of Stirling, MJA team

Two Perth property companies have helped shift perceptions around apartment living, with a long-running commitment to design innovation.

Suburban A-grade buildings the best office performers

A-grade buildings in suburban locations are the best-performing office stock in Perth, according to fresh research which found that just more than 20 per cent of all commercial office buildings in the metropolitan area are vacant.

Elizabeth Quay starting to take shape

A handful of big, integrated, high-rise projects with a combined value of $2.2 billion will reshape the waterfront site.

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.

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

The Last Great Hunt for global show

National awards and sparkling reviews are no novelty for small theatre company The Last Great Hunt.

Native title for most of WA's Kimberley

More than 34,000 square kilometres of Western Australia's Kimberley region will receive native title recognition by the Federal Court following three separate determinations this week.

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.

EnergyView all

Strike joins Northern Minerals as R&D tax losers

ASX-listed Strike Energy will not receive its federal government research and development tax credits for the 2018 financial year, a week after West Perth-based Northern Minerals was ordered to pay back 50 per cent of its $21.56 million R&D rebate for the same financial year.

WA’s gas advantage becomes big opportunity

Andrew Forrest has pounced on a potential play to supply WA gas to an east coast industrial market pounded by high prices.

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.

"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

BHP foresees phase-out of energy coal

BHP Group is looking to add more oil, copper, and nickel resources to its portfolio, while souring on energy coal because it thinks the fossil fuel will be phased out, "potentially sooner than expected".

FMG approves $417m new mine

Fortescue Metals Group’s has given the green light to its US$287 million ($417 million) Queens Valley mining area development, after it received all necessary environmental and heritage approvals.

Myanmar to raise $30m

Myanmar Metals is seeking to raise $30 million for its flagship Bawdwin zinc-lead project in the South East Asian country, via a share placement and rights issue.

Lynas to spend $500m, set up WA processing

Lynas Corporation says it plans to spend $500 million by 2025 to boost production and expand its processing operations to Western Australia.

CITIC largely loses Mineralogy appeal

Clive Palmer's estranged Chinese joint venture partner has largely lost an appeal over royalties from their massive iron ore project in Western Australia's Pilbara.

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

Coziron in box seat as Palmer/CITIC brawl heats up

Coziron Resources is looking to breathe life back into its unique, high-quality, Ashburton magnetite project, with drilling planned to deliver a maiden JORC compliant resource, just 40km from CITIC’s massive Sino project. The company has identified extensive magnetite deposits at least 6km long and 1km wide at Ashburton, with encouraging analytical work that showed mass yields of magnetic iron content up to 42% and concentrate grades exceeding 67% iron.

88 Energy to farm out Alaskan oil project

88 Energy Alaska-focused 88 Energy is closing in on a potential farm-out of the conventional rights at its Project Icewine in Alaska’s North Slope, with its preferred bidder scheduled to make a final decision in June. Final analysis of the HRZ shale at the same project has indicated that more than half of its large lease holding of about 528,000 acres remains prospective for unconventional oil.

High grade lithium hits roll on for Hawkstone in US

Hawkstone Mining has outlined more high-grade lithium assays from the Big Sandy clay project in the US, including 39m @ 2,015 ppm lithium from 23m down-hole. The company is poised to accelerate its exploration and development activities at the project, following a recent oversubscribed placement for $2.4m, which will facilitate the estimation of a mineral resource and the completion of definitive metallurgical test work programs.

Analyst bullish on Geopacific

Petra Capital has produced a research report comparing the value of recent M&A transactions in the junior gold sector with Perth based, ASX-listed PNG gold explorer and developer, Geopacific Resources. Geopacific is sitting on nearly 1.6 million gold ounces in PNG and has access to a wider goldfield on the Pacific island that looks to be highly prospective for the elusive yellow metal.

Novo revved up for full tilt at Pilbara gold play

Novo Resources has installed a new exploration camp and has awarded an earthmoving contract for its upcoming bulk sampling and processing activities at the emerging Egina gold project located near Port Hedland, WA. The company recently undertook ground surveys and field investigations that outlined potential conglomerate-hosted and alluvial gold sites suitable for the bulk sampling operations.

Thought LeadershipView all

Increased connectivity and digital identities at the forefront of Cisco innovation

Cisco continues to forge ahead with innovation surrounding technology and the internet by sharing its extensive knowledge on connectivity, digital identity and cyber security.

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.