Business News

Construction tenders July 2 2018

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Rift Valley raises $5.5m

Rift Valley Resources has tapped investors for $5.5 million as the company continues exploration work at its Longonjo rare earths project in Angola.

Pacific flags $15m impairments

Pacific Energy says it will meet its underlying earnings guidance for the 2018 financial year, but has flagged impairments totalling $14.8 million.

Mod upgrades mineral resource

Perth-based MOD Resources has announced a significant upgrade to the mineral resource at its T3 copper project in Botswana.

Hopman Cup under threat

The announcement of a new team tournament set to kick off in 2020 in Australia has called into question the future of Perth’s international tennis event, the Hopman Cup.

Capricorn ups Pearl stake with $2m purchase

Automotive cooperative Capricorn Society has increased its stake in Fremantle-based environmental technology company Pearl Global (formerly Citation Resources) to 6.1 per cent after investing $1.8 million.

Panel dismisses FMG application

The Takeovers Panel has dismissed an application from Fortescue Metals Group questioning the veracity of Hancock Prospecting’s $390 million bid for Atlas Iron.

AHG logistics sale falls through

Automotive Holdings Group has confirmed the proposed $400 million sale of its refrigerated logistics business has fallen through after Chinese conglomerate HNA Group called off the deal due to liquidity issues and approval delays.

Rio commences $50m upgrade

Rio Tinto has commenced a $50 million replacement of the iron ore stackers at its Paraburdoo mine, with local engineers and contractors set to benefit from the project.

Swick wins $80m contract extensions

Swick Mining Services has announced two contract extensions worth about $80 million, including a renewal at Northern Star Resources’ Jundee gold mine near Wiluna.

Atlas backs revised Hancock bid

The board of Atlas Iron has unanimously recommended a revised bidder’s statement from Hancock Prospecting, while also announcing the suspension of production at its Mt Dove iron ore mine due to challenging market conditions.

Board Moves June 29, 2018

Mark Connelly has resigned as non-executive director at Ausdrill. Mr  Connelly has held various senior management positions for other resource companies including Adamus Resources and Newmont Mining C

Board Moves June 28, 2018

Adrian Trevisan has resigned as non-executive director of Neurotech International. Dr  Trevisan was integral in the founding of Neurotech and served as company director for a time.

Strandline, Arafura appoint DFS consultants

Mineral sands-aspirant Strandline Resources has appointed GR Engineering Services to lead a definitive feasibility study at its Coburn project, while Arafura Resources has signed on Mining Plus and a number of other consultants for a study at the Nolan project.

Tanami exercises $20m put option with Northern Star

Tanami Gold says it will exercise a put option forcing Northern Star Resources to buy a 15 per cent stake in the junior miner’s Central Tanami project for $20 million, after the Bill Beament-led company said it had not reached commercial production at the joint venture mine.

Board Moves June 27, 2018

Klaus Eckhof has resigned as executive chairman of AVZ Minerals. Mr  Eckhof is a geologist and has worked in delineating gold within the mining industry.

Board Moves June 26, 2018

Colin Gilligan has been appointed non-executive director of Geopacific Resources. Mr  Gilligan is a mining engineer with over 25 years’ experience in the resources sector.

Board Moves June 25, 2018

Juan Pablo Vargas de la Vega has been appointed  as managing director at Dempsey Minerals.

Capitol Health expands into Perth market

Melbourne-based medical services company Capitol Health has acquired six medical clinics in Perth as part of a deal worth up to $20.3 million.

Former Kimberley Diamonds chair acquitted

A NSW District Court has acquitted former Kimberley Diamonds executive chairman Alex Alexander of charges related to the issuing of false or misleading information to the market.

Eckhof resigns from AVZ after share sale

AVZ Minerals has announced the resignation of executive chairman Klaus Eckhof, weeks after he sold off half his stake for $4.4 million, while also signing up Perth-based CPC Engineering to complete a scoping study for its Manono lithium project in the Democratic Republic of Congo.

Pacifico in $4m purchase

Perth-based Pacifico Minerals has announced it will take a 75 per cent stake in the Sorby Hills lead and silver project north of Kununurra in a cash-and-scrip deal worth up to $4.1 million.

Vasse Felix confirms Watershed purchase

Margaret River winery Vasse Felix is set to acquire the principal assets of Watershed Premium Wines, under a $20 million deal that allows Watershed’s cellar door and restaurant to continue operating under a two-year lease agreement.

NRW confident of WA iron ore work

Shares in local contractor NRW Holdings were up 9.2 per cent today after the company said its order book had increased to near record levels of $2.05 billion, while also saying the business was well placed to be involved in Western Australia’s major upcoming iron ore projects.

UHY to merge with Sothertons

Accounting firm UHY Haines Norton will have three offices in Western Australia following a merger with national outfit Sothertons, while Moore Stephens Perth - which absorbed the old UHY practice in WA in 2015 - has announced changes to its leadership team.

WA sparkies most expensive in the country

Western Australian electricians are the most expensive in Australia, while the majority of the state’s other tradies are near the national cost average, according to new data out today.

Chocolate cafe into liquidation

The Perth-based Guylian Belgian Chocolate Cafe franchise has been placed into liquidation, just over a year after the business opened on St Georges Terrace.

Maca announces contracts worth $60m

Perth-based MACA has been awarded a number of new contracts, totalling about $60 million, including a $12 million variation to works at the Gruyere gold project near Laverton.

Board Moves June 22, 2018

MMJ PhytoTech has appointed current chief financial officer Jim Hallam as joint company secretary.

Cimic wins $225m BHP contract

CIMIC Group has secured a $225 million mining services contract at BHP Billiton’s Rocky’s Reward nickel project, located 400 kilometres north of Kalgoorlie.



$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 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.

Gow questions builder's financial status

The building commissioner has put out a public warning against a local building company, saying its financial status warrants questioning.

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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.

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.

Site found for WA's first open-range zoo

The state government has locked in a location for Western Australia’s first open-range zoo, which is expected to cost up to $100 million to develop.