Business News

Board Moves March 28, 2019

Nick Cernotta has been appointed non-executive director of New Century Resources. Mr  Cernotta is an experienced mining executive and former director of operations at Fortescue Metals Group.

Formal sod turning at $1bn Kemerton project

Construction has officially commenced at Albemarle Corporation’s Kemerton lithium plant, which is expected to cost in excess of $1 billion and create 500 construction jobs and another 500 operational jobs in the south-west of Western Australia.

Pilbara seeking to sell up to 49% of Pilgangoora

Pilbara Minerals has announced it is considering selling between 20 per cent and 49 per cent of its Pilgangoora lithium project, as it declared commercial production from the processing plant.

Monadelphous wins $104m South Flank contract

Monadelphous has won a second contract for BHP Group's South Flank iron ore project, just over a month after it secured an $108 million contract at the site.

Gascoyne to raise $24.5m as liabilities pile up

Struggling gold miner Gascoyne Resources has announced a share placement and rights issue at a 50 per cent discount to its previous closing price, as it seeks to pay down some of its mounting debts.

Geopacific raises $4.3m, loses major shareholder

Geopacific Resources has raised $4.3 million via a share placement, with the funds set to advance due diligence in relation to the financing of its $198.5 million Woodlark gold project.

Macmahon wins $170m contract at new mine

Tropicana gold project joint venture partners AngloGold Ashanti and Independence Group have approved the development of a new underground mine at a cost of $105 million.

Insolvency appointments Mar 13 to 26 2019

Centennial Mining Limited, Maldon Resources Pty Ltd, ACN 120 508 143 Pty Ptd formerly known as 'Underworld WA Pty Ltd', Knightly Corporation Pty Ltd ta Launch Film Productions, Robayne Pty Ltd, Jang's Kitchen and Cleaning Pty Ltd, Fernhall Pty Ltd, Waterside Apartments Pty Ltd, Jacmah Enterprises Pty Ltd, Hydetech Electrical Services Pty Ltd ta Greenstate Electrical, Trouconstruct Pty Ltd, Downunder RV Australia Pty. Ltd., Expo Document Copy Centre (W.A.) Pty Ltd, Limelite Investments Pty Ltd, The Scaf Family Pty Ltd, Future Grid Electrical Pty Ltd, Master Gill Pty Ltd, King Shepherd Cleaning Pty Ltd, Pigeonhole Wholesale Pty Ltd, Western Australian Treated Timber Supplies Pty Ltd, Carnegie Clean Energy Limited, Energy Made Clean Pty Ltd, EMC Engineering Australia Pty Ltd, EMC Co Pty Ltd, Bregma Pty Ltd, VSM 3 star Hospitality Pty Ltd, Trinity Nails Joondalup Pty Ltd, J R Turner Investments Pty Ltd

Board Moves March 27, 2019

Simon Storm has joined BlackEarth Minerals as chief financial officer and company secretary.

Mondium wins contract at $52m Munglinup project

Mondium, a joint venture between local contractors Monadelphous and Lycopodium, has secured an early start engineering contract at Mineral Commodities’ (MRC) Munglinup graphite project.

Notre Dame appoints new vice-chancellor

The United Kingdom’s former ambassador to the Vatican and policy adviser to Tony Blair will replace Celia Hammond as the University of Notre Dame’s vice-chancellor.

Lynas rejects Wesfarmers' $1.5bn offer

Lynas Corporation said it will not engage with Wesfarmers' $1.5 billion indicative takeover offer, after the conglomerate launched the bid for the rare earths miner yesterday.

Board Moves March 26, 2019

Our daily board moves wrap includes Alexander Grant, Michael Nitsche, Eddie King, Arturo Weschler, Deborah Ambrosini, Andrew Mooney, Nathan Young, Andrew Johnstone, Eduard Eshuys, Allan Kelly, Roderick Webster, and Kevin Hart.

Woodside signs deal with space agency

Woodside Energy and the Australian Space Agency (ASA) have signed a statement of strategic intent and cooperation, which is aimed at promoting technology transfer between the space sector and the oil and gas industry.

WA resources sector reaches $127.4bn record

Western Australia's resources industry experienced record sales in 2018, up 16 per cent from the year prior, thanks largely to a rise in liquefied natural gas (LNG) exports.

Austal wins $369m US Navy contract

Henderson-based shipbuilder Austal has secured a $369 million contract to supply two Expeditionary Fast Transport ships (EPF) to the US Navy.

Board Moves March 25, 2019

Our daily board moves wrap includes Robert Ryan, John Young, Don Koch, Neils Wage, XiaoNing Lin, Chee Ho Ho, Nicholas Young, and Chris Hansen.

Sandfire to spend up to $30m in Alaska JV

Sandfire Resources has announced an earn-in and joint venture option agreement with ASX-listed White Rock Minerals for a stake of up to 70 per cent in the multi-commodity Red Mountain project in central Alaska.

Airline peak body slams Productivity Commission

Airlines for Australia and New Zealand (A4ANZ) says the Productivity Commission’s draft report into Australia’s airports, released in January, falls well short of what should be expected from the commission.

Equipment problems to hit Dacian production

Dacian Gold has lowered its full-year production forecast at its Mt Morgans gold project by up to 16 per cent, due to an equipment shortage at the mine.

Jupiter weighs up iron ore options

Jupiter Mines has tapped Hartleys to act as a corporate adviser, as the company re-evaluates its Central Yilgarn iron ore projects in light of improved iron ore market conditions.

Board Moves March 22, 2019

PeiChen Wu has been appointed non-executive director of Black Star Petroleum. Ms  Wu is a resident of Taiwan and has extensive accounting and finance experience.

Doray shareholders overwhelmingly support merger

Over 99 per cent of Doray Minerals' shareholders have voted in favour of the company’s proposed $615 million merger with fellow locally-based gold miner Silver Lake Resources.

Curve buys Progressive Medical

Digital healthcare agency Curve Tomorrow has expanded into Perth through the acquisition of Progressive Medical.

Ocean Grown Abalone facing legal action from supplier

Bremer Bay-based 888 Abalone has accused Ocean Grown Abalone of breaching a supply agreement by planning a future development for a hatchery.

Telstra to build 23 mobile stations in WA

Telstra will build 23 of the 26 new mobile base stations and small cells to be delivered in Western Australia, as part of the fourth round of a government initiative to improve mobile coverage in regional and remote communities.

Appointments March 22, 2019

Our weekly appointments wrap includes Mark Glasson, Philippa Boldy, Chandra Sundareswaran, Rhys Turton, Tracy Taylor, Dean Humphrey, Phill Theunissen, Charlie Gunningham, Robyn Sutherland and Trent Cheetham.

Board Moves March 21, 2019

Birimian has appointed Seydou Semega as Country Manager in Mali.

Stealth moves into workwear JV

ASX-listed Stealth Global Holdings has entered into a joint venture agreement with Bisley Workwear to launch its products into the UK, West African and European markets.

FMG to create autonomous transport for urban areas

Fortescue Metals Group will establish a research and development centre in Karratha to develop autonomous transport for urban areas.

Blackham to raise $26m to help pay off debts

Blackham Resources has announced a fully underwritten renounceable entitlements issue to raise $25.8 million, of which $10 million will be used to pay debts owing to contractor MACA and The Lind Partners.



$120m in new work for Monadelphous

Perth-based Monadelphous Group has received a number of contracts with multiple clients including Fortescue Metals Group, BHP Billiton and Chevron, with the work worth a combined $120 million.

FMG appoints Gaines as CEO

Fortescue Metals Group has announced major changes to its leadership, with a new chief executive taking the reins and its directors taking a hands-on role to support an updated strategy that focuses on producing more higher-grade iron ore.

Perth tax agent deregistered

The Tax Practitioners Board (TFB) announced this morning that it had terminated the tax agent registration of Peter Moltoni, following an investigation into the Perth accountant’s ties to a shell company in the British Virgin Islands.

Perth CBD office vacancy hits 25-year peak

Downsizing in the resources sector is outstripping emerging demand from technology, medical and education businesses for CBD office space according to a new report by independent property research firm Y Research.

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EPA rejects MinRes, Sinosteel iron ore mines

The environmental watchdog has recommended rejection of two proposals to mine iron ore in Western Australia because they would cause irreversible damage to the land.

Govt unveils marina, dust plans for Port Hedland

The state government is planning to restrict new residential developments in the west end of Port Hedland while also implementing a new regulatory framework for air quality in the town, which is located adjacent to large iron ore stockpiles.

Robert Kennedy passes away

Company director Robert (Bob) Kennedy, who was a director or chairman of four ASX-listed companies, has passed away after a short illness.

Taxi plate buy-back part of transport shake-up

Perth taxi and Uber users may see a 10 per cent fare hike for the next four years to fund taxi plate buy-backs as the state government revamps on-demand transport.