Adrian Rauso joined Business News in February 2018 as the morning email producer and is the online news reporter as of January 2019. Adrian completed a degree in journalism and politics at the University of Notre Dame, where he was the co-editor of the University’s student magazine for nearly two years. He also has experience in corporate affairs at the United States Consulate in Perth.
South32’s Graham Kerr, NRW Holdings’ Jules Pemberton and Saracen Mineral Holdings’ Raleigh Finlayson have received one-off benefits totalling $10.4 million, following the vesting of performance shares.
Claremont-based Geopacific Resources has appointed GR Engineering Services as the engineering, procurement and construction contractor for the processing plant at its Woodlark gold project in Papua New Guinea.
Pilbara Minerals has undertaken a $91.5 million capital raising, underpinned by China’s largest manufacturer of electric vehicle batteries, as it seeks to strengthen its balance sheet amid a downturn in the lithium sector.
The restart of the Ravensthorpe nickel project has officially commenced amid surging prices of the commodity, as owner First Quantum Minerals launched a recruitment drive to fill at least 350 direct roles at the mine.
Western Australia has bucked the national trend and recorded a 0.6 per cent rise in retail spend for July, underpinned by gains in the hospitality sector, according to the latest data from the Australian Bureau of Statistics.
Nickel miner Panoramic Resources will have to tap the market for $20 million in equity after its debt was halved by Macquarie Bank, while today also disclosing deferred payment for the sale of its Canadian project.
Total mineral exploration expenditure in Australia increased by 5.2 per cent to $629.6 million for the June quarter, with Western Australia underpinning the growth, according to the latest figures from the Australian Bureau of Statistics.
Investors have welcomed Flinders Mines entering into a non-binding agreement with the Balla Balla Infrastructure Group, which could deliver the infrastructure and funding needed to help get its stranded Pilbara iron ore project (PIOP) into production.
Galaxy Resources has confirmed interest in striking a downstream processing deal with Alita Resources’ offtake partner, just a day after placing the lithium miner into receivership, while Talison is reconsidering the timing of its $516 million stage three expansion project at Greenbushes.
Macmahon Holdings says it is likely to come to an agreement with Newcrest Mining in relation to increased revenue for its mining services contract at the Telfer gold project, while on the same day releasing positive full-year results.
Australian Potash has slashed the capex for the development of its Lake Wells project from $338 million to $208 million, after it removed the second stage of the project, amid an increasingly competitive sulphate of potash market.
Strike Energy shares have surged 90 per cent and Warrego Energy’s by 68 per cent after the joint venture partners announced a significant gas discovery as part of the West Erregulla-2 drilling campaign in the Perth Basin.
Pilbara Minerals has halted an attempt to offload up to a 49 per cent stake in its Pilgangoora lithium-tantalum project, but has executed a binding joint venture agreement with South Korean offtake partner POSCO.
Northern Star Resources has announced a $193 million takeover offer to acquire Echo Resources, less than an hour after executive chairman Bill Beament said the company was exploring a range of growth options to take advantage of the high gold price.
Automotive Holdings Group has suffered a loss of $232.6 million for the 2019 financial year, following major asset write-downs to its automotive and refrigerated logistics businesses during the period.
The median price of a house in Perth recorded the largest decline among all state capitals for September, with the slump over the past five years now surpassing 20 per cent, according to the latest CoreLogic data.