Business News

Wolf Minerals into administration

Long-running efforts by tungsten miner Wolf Minerals to stay afloat have failed, with the company’s directors appointing voluntary administrators.

Midway invests in WA biomass

Victorian forestry company Midway has announced plans to invest up to $8 million in two Western Australian biomass companies.

Board Moves October 10, 2018

Mark Southey has been appointed non-executive director of Fleetwood Corporation.

Tomasi leaves SCEE, sells $12m stake

Southern Cross Electrical Engineering founder Frank Tomasi has cashed in about one quarter of his shares in the company, after signalling his intention to retire from the board.

Dampier Port to export ammonium

Pilbara Ports Authority has received regulatory approval to support shipping ammonium nitrate through the Port of Dampier.

Venturex plan $146m project

Venturex Resources managing director Ajanth Saverimutto says the company’s Sulphur Springs copper-zinc project is ready to develop, after releasing a definitive feasibility study detailing a $146 million capex.

Rox releases nickel study

Rox Resources has released an updated scoping study for its Fisher East nickel project following an improvement in market conditions, with a forecast capital cost of between $85 million and $125 million.

Wildcats sign on Pentanet

The Perth Wildcats have brought on local internet company Pentanet as its major sponsor for the 2018-19 National Basketball League season.

Board Moves October 9, 2018

Asimwe Kabunga has resigned as non-executive director of Strandline Resources.

UWA trading room wins big

The University of Western Australia’s new trading room has been named as the education project of the year at the annual AV Awards in London, beating out entries from the University of California and the Qatar National Library.

Cape wins Metronet contract

CFC Group subsidiary Cape has secured a power infrastructure contract with Western Power as part of the state government’s Metronet project.

Kin plans $10m raising

Gold-focused Kin Mining has announced plans to raise up to $10.4 million via an entitlement offer, while also revealing it has received interest for potential acquisition deals.

Board Moves October 8, 2018

Family Zone Cyber Safety has appointed Sir Peter Westmacott GCMG LVO as a non-executive director.

Quantify to raise $4m

Perth-based Quantify Technology Holdings has announced a $4 million capital raising to progress the commercialisation of the company’s flagship device.

St Barbara in $7m gold JV

Gold miner St Barbara has entered into a joint venture agreement with Australian Potash at the Lake Wells gold project near Laverton.

Board Moves October 5, 2018

Anand Sheth has been appointed strategic marketing adviser of Birimian.

Rio JV opens Baby Hope

Rio Tinto and Hancock Prospecting have today opened a new mining pit that will help sustain production volumes at their jointly owned Hope Downs operation in the Pilbara.

Georgiou wins $67m highway project

The Queensland government has awarded Perth-based Georgiou Group the Bruce Highway – Cairns Southern Access Corridor stage four project, in joint venture with local construction company Koppens Developments.

Doray in $10m Andy Well sale

Gold miner Doray Minerals has announced the sale of its mothballed Andy Well project near Meekatharra to Canadian company Galane Gold in a deal worth $10 million.

Board Moves October 4, 2018

WenYi Gu has been appointed non-executive director of Admedus. Dr  Gu is a Research Fellow at the Australian Institute for Bioengineering and Nanotechnology at the University of Queensland.

BN30 reaches record high

A strong run over the past month from listed companies Mineral Resources, Woodside Petroleum and Seven Group Holdings has helped push Business News’ index of 30 local stocks to a record high this week.

Macmahon pays $6.7m settlement

Mining contractor Macmahon Holdings has agreed to pay a $6.7 million settlement for a class action related to cost overruns at a construction project in 2012.

Empire makes board changes

Empire Resources has appointed major shareholder Michael Ruane as its chairman, one month after he sought a board spill at the gold miner.

Board Moves October 3, 2018

After 18 months as executive chair of Capricorn Metals, Heath Hellewell has stepped down from the role but remains a managing director.

Civmec erects first steel at Henderson

Civmec has erected the first steel for its new $80 million assembly hall in Henderson today, with Prime Minister Scott Morrison in attendance for the event.

Monadelphous wins $240m BHP contract

Engineering companies Monadelphous Group and Downer EDI have announced separate maintenance contracts with iron ore miner BHP Billiton.

Perkins begins $24m prison upgrade

Perkins Builders has been awarded an early works contract as part of the state government’s $23.7 million upgrade to the Bunbry Regional Prison.

SMS locks in $640m gold contracts

SMS Mining Services has secured contracts at two planned gold projects in Western Australia worth a combined $640 million.

Panel rules against Bullseye funding deal

The Takeovers Panel has declared unacceptable circumstances in relation to a proposed funding deal for unlisted public company Bullseye Mining.

Board Moves October 2, 2018

George Ventouras has resigned as non-executive director of Apollo Consolidated, having served on the board since 2009. He will be involved with the company in an executive consulting capacity.

FYI moves to alumina BFS

Having recently detailed a $US178 million ($248 million) capital cost for its Cadoux Kaolin alumina project, FYI Resources has now commenced a bankable feasibility study for the proposal.



$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.

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.