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

Corporate Finance DealsView all

AVZ increases Manono stake

AVZ Minerals has increased its stake in the Manono lithium and tin project by 5 per cent for US$5.5 million from Datchom Mining.

TADWA acquires TL Eng unit

Bassendean-based company Technology for Ageing and Disability WA has acquired the mobility division of TL Engineering.

MACA backs Blackham again with $12m

MACA will provide a $12 million working capital facility for an expansion of Blackham Resources' Matilda-Wiluna operation.

Gold explorer scraps listing plans

The tally of new ASX listings from Western Australia remains at just two this year, with Gold Tiger Resources (Australia) canning its IPO after being hit by weak equity markets and gold sector woes and having to issue a supplementary prospectus.

Bard1 raises $7.5m, makes board changes

Cancer-focused medical technology company BARD1 Life Sciences has raised around $7.5 million via a share placement and rights issue, and has appointed two non-executive directors to its board.

Politics & the EconomyView all

Kobelke passes away aged 69

Former Western Australian government minister and Labor MP John Kobelke, who served in state parliament for nearly 25 years, has passed away aged 69.

Morrison vows to pass tax cuts, fight regulation

Scott Morrison vowed to roll back regulation, pass tax reform and fight militant unions in his first major economic speech since the LNP’s surprise election victory this past month.

Labor offers government deal on tax cuts

Tax cuts could be made law as early as next week if the Morrison government meets Labor at the negotiating table.

Minister seeks axing of construction union

Industrial Relations Minister Christian Porter says the peak construction and mining union should be deregistered and he's prioritising laws that could help make that happen.

WA population growth slowly lifting

Australia’s annual population growth rate increased to 1.63 per cent in 2018, and while WA’s growth rate has improved, it continues to be one of the slowest growing states.

PropertyView all

Property Council wants density debate changed

A report commissioned by the Property Council of Australia has found many Perth residents value the benefits of density.

Waterfront living at Champion Lakes

Yolk Property Group is developing a 161-lot lakeside residential estate at Champion Lakes that will feature innovative housing products, a recreational and hospitality precinct and an aged care facility, in partnership with Southern Cross Care on behalf of the Metropolitan Redevelopment Authority.

Appeal over Woolies approval dismissed for second time

Canning Bridge IGA owner Greg Brindle’s efforts to overturn the approval of a $60 million Woolworths-anchored retail development in Mount Pleasant have been knocked back for a second time by the Supreme Court of Western Australia.

JWH Group shifts first homebuyer focus

JWH Group is refining its offering for first homebuyers who favour location over size.

Forrest buying into Fremantle

Andrew Forrest has invested $15 million on Fremantle property assets in the past 15 months, as the biggest regenerative project in local history nears completion

WA Event Calendar View all

WA's most comprehensive guide to forthcoming business-related events. To list an upcoming WA event on this page, register with Scoop Online..

Arts & CommunityView all

Meridian Global giving inspiration

The donation that giving circle Meridian Global Foundation provided to mental health charity zero2hero five years ago shows the impact targeted giving can have.

Bishop to chair Telethon Kids

Perth’s Telethon Kids Institute has announced former foreign affairs minister Julie Bishop will be its next chair.

Stark choices on arts funds, young ones’ skills

Arts funding was on the menu at a business breakfast co-sponsored by Business News and Screenwest this week, with panelist Ben Elton advocating development of a film studio in Perth to boost the sector.

Perth embraces festival season

Fringe World and Perth Festival may offer audiences a different range of artistic experiences, but both achieved strong growth in ticket and box office sales this year, according to recent reports.

Rio, FMG support indigenous children initiatives

Rio Tinto has backed a STEM initative in the Pilbara, while Fortescue Metals Group has thrown its support behind Ricky Grace's Girls Academy.

EnergyView all

$123m for minesite microgrids

Two microgrid projects worth a combined $123 million have moved forward today as the technology becomes increasingly mainstream, with Gold Fields and GMA Garnet mine sites to have big renewable power and storage components.

Tempo optimistic of solar cost blowout solution

Tempo Australia has emerged from a one-and-a-half month trading halt to announce it has agreed terms in-principle with Enel Energy that will potentially prevent a cost blowout at a major solar contract.

Chalkley, Barrie to Power board

Western Power chief executive Guy Chalkley has been appointed to the network operator’s board, while Kathryn Barrie will wear two hats as a director of the business and continuing in a senior role at the Public Utilities Office.

EPA to start consulting on greenhouse policy

The Environmental Protection Authority will commence formal consultation next month on its greenhouse gas guidelines, refuting media reports it has already decided to revive the guidelines that caused industry outrage earlier this year.

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.

Food & WineView all

Miss Chow’s continues rapid expansion

The self-described dumpling queen of Perth is set for a busy few weeks, with four new venues under the Miss Chow’s Group banner set to open by the end of July.

Hot prospects for Bunsters

One of Perth’s sauciest companies is seeking a $5 million valuation with a hand from the Perth Angels.

Liquor licence conflict over arena definition

The Supreme Court of Western Australia has given a Nedlands sports club the green light to appeal its failed attempt at regaining a liquor licence, after its facilities where deemed not to constitute a sports arena.

Small-scale brewing’s next frontier

One of WA’s most experienced hospitality professionals is helping lower the barriers to enter the craft beer industry.

Cranking up the beer creativity

WA’s contemporary brewers are building on the foundations laid by modern institutions such as Little Creatures and Feral Brewing Company.

Special ReportsView all

Defence

Defence

17 June 2019

WA businesses are positioning themselves to participate in the national shipbuilding supply chain and longer term, have a strong chance to create a sustainment hub in Perth.

Our feature highlights:

WA defence sector aims to build on contract wins
Blacktree broadcasts from Belmont to Britain and places in between
Matrix the one for neo-materials
Local defence ecosystem  grows business
Great for the State - Edition 3: Health & Wellbeing

Great for the State - Edition 3: Health & Wellbeing

04 June 2019

Our Health and Wellness edition highlights how Western Australia is evolving into a world-leading jurisdiction in medical research, pushing the boundaries of science and innovation in a quest for better health.
 

Medical marvels delivering outcomes
Investments in medical tech to pay healthy dividends
Healthway, Lotterywest lead drive for better health
West best for mass fundraising fun
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

MiningView all

Hylea shares skyrocket nearly 600%

Shares in West Perth-based Hylea Metals were up 592 per cent today after the junior announced it acquired a 65 per cent stake in Paladin Energy’s Kayelekera uranium mine in Malawi.

Shareholders welcome Flinders changes

Flinders Mines says it will ensure shareholders remain fully informed, less than a month after Business News revealed concerns about its transparency.

Lynas sticks to stockpiling strategy

Lynas Corporation won't cash in on the sharp short-term increase in rare earths prices related to the US-China trade war, saying it will stick to the long-term strategy it announced last month.

Altura shares leap on production turnaround

Shares in Altura Mining have surged 37 per cent since late Wednesday, after the company announced positive production results and its struggling former biggest investor sold its remaining stake in the company.

Neometals looks to India for refining

Neometals will be considering India as the location to build a lithium hydroxide refinery, but previously announced plans for the project to be built in Kalgoorlie will remain as an option.

OpinionView all

Mark my words podcast

PODCAST: Mark Pownall and Matt Mckenzie discuss new Liberal policies, Forrest property investments, Julie Bishop, state wages policy, Committee for Perth, supermarket battle, microgrids, and our special report on indigenous business.

Straight shooters fire entrepreneurial bent

OPINION: Encouraging entrepreneurial behaviour can only benefit a state such as WA.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss Liberal leadership change, State of the Arts, agricultural outlook, Patersons sellout, Curtin's expansion, gold challenges, Western Australians honoured, and our special report on defence.

Mark my words podcast

PODCAST: Mark Beyer and Matt Mckenzie discuss house prices, economic growth data, interest rates, WA’s credit rating, gold miners, arts festivals, cryptocurrencies and craft breweries.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss indigenous business and reconciliation week, David Singleton, Simonds Group and residential construction, generational change at listed Perth companies, Black Swan, and our special report on the wine industry plus our Great for the State feature on health and well being.

RetailView all

ACCC concerned about AHG takeover

The Australian Competition and Consumer Commission says it has concerns about AP Eagers’ $2.3 billion takeover of Automotive Holdings Group, due to a potential impact on competition in new car retailing in NSW.

Metcash back in profit but underlying sags

Metcash has swung to a $192.8 million full-year profit after cycling through its South Australian contract impairments, but its share price has taken a tumble after a decline in food earnings and higher finance costs weighed on the IGA supermarket supplier's underlying result.

Coles hits new high on $1bn savings target

Coles shares have hit a new high after the supermarket announced a $1 billion cumulative savings target over four years to compete with new discount grocery market arrivals such as Lidl and Kaufland.

Target sales sag further for Wesfarmers

Wesfarmers says full-year earnings from its department stores could fall by as much as $103 million after sales at the struggling Target chain fell by 2.3 per cent so far in the second half.

Transit Clothing to close its doors

The administrators of Perth-based Transit Clothing have announced that the business will close and cease trading at all remaining store locations within the coming week.

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

Second look yields more gold for Venus/Rox

Venus Metals and Rox Resources may be sitting on a high-grade gold deposit at their Currans Find JV gold project near Youanmi, WA, after re-sampling of recent holes turned up a spectacular intersection of 1m @ 72.67g/t gold from 39m within a wider zone of 3m @ 27.5g/t gold. This is significantly higher than the initial assays, which returned 6m @ 9.82g/t gold from 36m.

Volt secures funding to finalise USD$40m note issue

Volt Resources has secured USD$1 million in working capital from European investor Mr Lars Bader to help finalise the USD$40 million note issue on the Dar es Salaam Stock Exchange. The notes will underpin the Stage 1 development of the company's Bunyu graphite project in Tanzania that has an ore reserve of 127 million tonnes grading 4.4% TGC, most of which is in the Super Jumbo, Jumbo and Large flake categories.

Met work excites at Sovereign’s African rutile play

Sovereign Metals has outlined encouraging preliminary metallurgical test work results for its Wofiira rutile prospect in Malawi, East Africa, generating a potentially premium high-quality product, with low impurities, from conventional mineral sands processing. The concentrated ore product contained 96% titanium dioxide at a recovered grade of 1.1% rutile and is on par with many of the world’s leading rutile producers.

AVZ lifts stake in giant African lithium play

AVZ Minerals will control 65% of the Manono lithium-tin project in the south-eastern region of the DRC after paying USD$5.5m to private company Dathomir Mining Resources SARL for an additional 5% stake in the tier-1 deposit. The monies are payable to Dathomir within three years and the agreement will generate an additional NPV of USD$130m for the company based on recent scoping study results.

Neometals highlights value of lithium waste by-product

Neometals’ synthetic zeolite product generated from lithium hydroxide production waste, has held its own against similar industry-leading products from a reference Japanese manufacturer. The company will now proceed with a pilot plant test of its proprietary process in the September quarter of 2019, which will in turn feed into a class 3 engineering study and feasibility study.

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Peter Moltoni

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John Poynton

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Thought LeadershipView all

When sweaty palms and heart palpitations are not a good thing

There has been a shift over the years in the way the performance appraisal is conducted, particularly in the frequency of discussions, leading to a more meaningful experience for both manager and empl

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