Business News

BGC, Mondelphous win $250m Rio contracts

Rio Tinto has awarded contracts with a combined value of more than $250 million to BGC Contracting and Monadelphous for work on its West Angelas iron ore mine in the Pilbara.

Board Moves August 1, 2019

Our daily board moves wrap includes Scott Reid, Brian Thomas, Alistair Cowden, Barry Bolitho, Robin Dean, Victoria Allinson, Dougal Ferguson, and Craig Nelmes.

Appointments August 1, 2019

Our weekly appointment wrap includes Eric Lumsden, John Langoulant, Michael Court, Nicole Lockwood, Terry Agnew, Kerryl Bradshaw, Andrea Sutton, Wayne Zekulich, Keith Hirschman, Tony Sheard, Alex Ogg, Nicholas Chapple, Paul Pryde, Shane Ogilvie, Saschelle Blake, Brett Heather, Richard Peterson, and Howie McKibbon.

Builder fined $38k over death

The construction company overseeing the 2017 refurbishment of the GPO building in Forrest Place has been fined $38,000 after pleading guilty to charges over the death of a 17-year-old worker on the site.

Alkimos shopping centre sold for $34m

Trinity Village Shopping Centre in Alkimos has sold for $34 million, as interest continues to build in Western Australian neighbourhood retail assets.

Botanix raises $40m

Botanix Pharmaceuticals is set to raise $40 million via a share placement, less than two months after it released studies suggesting its cannabis compound could be used as an antimicrobial to mitigate superbugs.

ANU taps Bishop for chancellor

Former foreign minister Julie Bishop will become the first female chancellor of the Australian National University.

Board Moves July 31, 2019

Dynasty Resources has appointed William Hu as executive director and chief financial officer, and Peter Dillon as chief operations officer.

Fishing council taps Ogg as CEO

Alex Ogg has been appointed chief executive of the Western Australian Fishing Industry Council Inc, after serving in the role on an interim basis since May.

Perth glazier fined $66k

A Perth window company and its director have been fined a total of $66,000 for not complying with a building commissioner’s order to fix incorrect glass installed at a Mandurah home.

Greenland raises $7m

Greenland Minerals has secured $7 million via a share placement, with the funds raised to advance the development of its Kvanefjeld rare earths project.

Horizon denied injunction against former staffer

Horizon Accountants and Advisory has had an application for an injunction against former employee Raj Rajakaruna denied, after having accused him of breaching contractual non-solicitation and confidentiality clauses.

Boskalis wins Scarborough contract

Woodside Petroleum has awarded a contract to Netherlands-based Boskalis to undertake seabed intervention and shore crossing works for the proposed Scarborough export gas pipeline.

Board Moves July 29, 2019

Stuart Carmichael has been appointed independent non-executive director of Swick Mining Services.

Corporate finance deals Jul 22 to 26 2019

A summary of last week's smaller deals that did not get included in our normal coverage of the daily news.

Marketforce wins WALGA contract

Marketforce has extended its master media advertising contract for the Western Australian Local Government Association (WALGA), making it the agency responsible for WA local government advertising.

Board Moves July 26, 2019

Our daily board moves wrap includes Alexander Grant, Trevor O'Connor, Scott Funston, Luke Reinehr, Paul Price, Ted van Heemst, Matthew Syme, Nico van der Hoven, Jurie Wessels, Jeremy King, and Luigi Matteucci.

Central Norseman fined over worker death

Central Norseman Gold Corporation (CNGC) has been fined $150,000 in the Kalgoorlie Magistrates Court today over the death of a worker two years ago at the company’s processing plant at its Norseman gold mine.

Zenith recovers from large shortfall

Zenith Energy has raised $4.8 million via a shortfall placement, having raised just $220,000 in a share purchase plan last month.

Babylon acquires Qld outfit

Resources services provider Babylon Pump & Power has entered into a conditional agreement to acquire diesel engine specialist Primepower Queensland for up to $4.2 million.

Board Moves July 25, 2019

Gernot Abl will be stepping down as non-executive director of Transaction Solutions International at the end of the month.

Appointments July 25, 2019

Our weekly appointment wrap-up includes Donna Carrington, Gary Smith, Chris Kopec, Meredith McClements, John Gardner, John Goodlad, David Flanagan, Erica Smyth, Carmen Lawrence, John Chandler, Luke Sm

Gender diversity stalling on ASX 200 boards

New data from the Australian Institute of Company Directors shows that women make up only 29.7 per cent of directors on ASX 200 boards, with WA’s NRW Holdings and Emeco Holdings among four companies that have no women on their boards.

Valmec shares surge on strong growth

Investors have welcomed Valmec’s announcement that it expects to record a 64 per cent rise in net earnings for the 2019 fiscal year.

Board Moves July 24, 2019

Our daily board moves wrap includes Anthony Mankarios, Mike Johnston, Jonathan Reynolds, Nicholas Anderson, Hansjoerg Plaggemars, Jeremy Kirkwood, Trevor Dixon, Michael Haywood, and Peter Benjamin.

The Agency raises $5.6m, converts debt

The Agency Group has raised $5.6 million via a placement and rights issue, and struck a deal to convert $5.8 million of debt into equity.

Carnarvon seeking $84m in capital

Carnarvon Petroleum plans a $79 million share placement and a $5 million share purchase plan to fund ongoing appraisal activities and initial development phases of its Dorado oil and gas discovery.

Charges laid over theft from WA gold mines

A man has been charged after allegedly stealing small pieces of gold from several Western Australian mine sites and selling them for more than $81,000.

New chancellor at Murdoch University

David Flanagan will be replaced by former KPMG partner Gary Smith as chancellor of Murdoch University, following the completion of his second term in the role.

Bellevue to raise $18.5m

Bellevue Gold is seeking to raise $18.5 million via an institutional share placement to fund ongoing exploration at its namesake project, and announced a director sell-down.

Board Moves July 23, 2019

Our daily board moves wrap includes Eduard Eshuys, Bruce Parncutt, Steve Morris, Brett Lambert, Simon Grant-Rennick, Juan Wang, Nicholas Ong, and Denis Rakich.



$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.

most commented

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.