Business News

ASIC recovers $1.5m in final Westpoint action

The last of the 19 civil actions brought by the Australian Securities and Investments Commission on behalf of a number of investors in the Westpoint Group has been finalised.

Mincor signs offtake agreement with BHP Nickel West

Mincor Resources has extended its offtake agreement with BHP Nickel West, marking a key step in Mincor’s restart of its Kambalda nickel operations.

Board Moves March 18, 2019

After 9 years on the board, Nathan Wong has resigned as non-executive director of MZI Resources due to increasing demands from other business interests.

Shorten commits to fund WA health projects

Opposition leader Bill Shorten has pledged an additional $110 million in new healthcare projects in Western Australia, adding to a string of spending promises ahead of the federal election due in May.

Mooney throws Carnegie a lifeline

Carnegie Clean Energy company secretary and non-executive director Grant Mooney has agreed to help fund the company’s operations, while administrators KordaMentha attempt to recapitalise its core wave energy business.

GR Engineering wins Mardie DFS contract

BCI Minerals has appointed GR Engineering as lead engineer on the Mardie salt and potash project’s definitive feasibility study (DFS).

Pilbara Minerals enters into South Korean JV

Pilbara Minerals has exercised an option to enter into a joint venture with steelmaker Posco to develop a lithium processing facility in South Korea.

Board Moves March 15, 2019

Our daily board moves wrap includes Simon Youds, Mark Licciardo, Peter Webse, Marcel Hilmer, and Tom Murrell.

Carnegie enters administration

Carnegie Clean Energy has gone into voluntary administration, three days after the state government withdrew funding for its Albany Wave project.

UGL wins $190m Woodside contract

CIMIC Group subsidiary UGL and joint venture partner Cape plc have secured works at Woodside Petroleum’s Karratha gas plant.

Board Moves March 14, 2019

Melissa North has been appointed to the board of Jupiter Mines as finance director.

Serpentine in reverse takeover of K-TIG

West Perth-based Serpentine Technologies has signed a non-binding term sheet to merge with fabrication technology business K-TIG.

Appointments March 15, 2019

Our weekly appointments wrap includes Sharon Burgess, Mark Palermo, Mark Treasure, Alistair Sullivan, Wendy Martin, Justin Brown, Harry Bray, Vicki Rasmussen, Dianne Caruso and Malcolm Lee.

Board Moves March 13, 2019

Our daily board moves wrap includes Tony Leibowitz, David Hatch, Sam Randazzo, Douglas Jendry, Tim Kestel, Stephen Parker, David Lees, Eddie King, and Lincoln Ho.

Australia signs treaty to construct Square Kilometre Array

Australia has joined six other nations in signing a treaty committing to the construction of the world’s most powerful telescope, the Square Kilometre Array.

Uber, Ola get green light at Optus Stadium

The state government has softened its policy on ride-sharing services at Optus Stadium, with sports fans now able to catch a ride to the East Perth side of Matagarup Bridge after bus services were transferred from that location.

Altura hits commercial production, doubles SPP

Altura Mining has declared its Pilgangoora lithium project is now producing commercial amounts of lithium, while increasing its share purchase plan from $5 million to $10 million.

Kings Square fully leased as SJOG moves in

Dexus announced it secured St John of God Health Care as a tenant at Kings Square, resulting in the entire three-building office complex being 100 per cent leased.

Insolvency appointments Feb 26 to Mar 12 2019

FirmAppointee/SolicitorRoleCompany NamePublished DateBRI FerrierGiovanni Maurizio CarrelloliquidatorPetkovski Investments Pty Ltd12/03/2019Munro's Accountants and Business AdvisorsLaura Wangliqui

Board Moves March 12, 2019

Our daily board moves wrap includes Paul Brennan, Davide Bosio, Blaise Thomas, Shri Amitava Mukherjee, Narendra Nanda, Quinton Hennigh, Andrew Haslam, Andrew Ellison, and Richard Eden.

CCC alleges corrupt actions by WA commissioner in Japan

The Corruption and Crime Commission today tabled a report alleging that Craig Steven Peacock acted corruptly for at least a decade and cost Western Australian taxpayers in excess of $500,000.

Jobs to be cut at Mrs Mac's following automation move

Mrs Mac’s is planning to cut staff numbers at its Morley packing facility as the pastry maker moves towards full automation of its manufacturing processes.

WA farmers still most confident in nation

Western Australian farmers remain the most confident in the nation, but they are entering 2019 with lowered expectations following last year’s bumper season, according to the latest Rabobank Rural Confidence survey.

Subaru buys Parkd's first relocatable car park

Claremont-based Parkd has sold its first relocatable car park to City Subaru Perth, which the dealership leased for the past six months following completion of the project in August.

Board Moves March 11, 2019

Our daily board moves wrap includes Geoff Lewis, Rachelle Brunet, and Peter Torre.

Rare earths project blowout to add nearly $92m

Hastings Technology Metals has reported that capital costs of its Yangibana rare earths project are expected to be approximately $427 million, compared to the $335.3 million figure it outlined in its definitive feasibility study.

Corporate finance deals Mar 4 to 8 2019

Eon NRG is pleased to announce that the Company’s rights issue, as detailed in the Prospectus dated 6 February 2019, has been well supported by Eon’s shareholders and new investors and is now closed h

Decmil wins $46m Main Roads WA contract

Decmil has been awarded a $46 million contract from Main Roads Western Australia to design and construct a dual carriageway and overpass in Perth.

Board Moves March 8, 2019

Our daily board moves wrap includes Gang Xu, Malcolm Castle, Kenneth Charteris, Dan Hilerowitz, Marcel Hilmer, and Ron Chamberlain.

Wormall wins $7.3m in contracts at LandCorp project

Wormall Civil has been awarded two contracts totaling $7.3 million for works at Peel Business Park.

Appointments March 8, 2019

Our weekly appointments wrap includes Danicia Quinlan, Patima Tantiprasut, Brigitte Smith, Bevan Sturgess-Smith, Emma Leys and Hayley Cormann.



$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.