The creditors of sandalwood company Quintis, led by US group Blackrock, have proposed injecting $175 million to take control of the business, in a deal that is likely to leave shareholders with no return.
Australian businesses can be confident that strong personal relationships with their partners in China can help overcome any short-term problems between the governments of the two countries, according to two local business executives with close ties to the Asian powerhouse.
Brownes Dairy is chasing extra supplies for its expanded cheese factory in the state’s South West and is believed to have approached the Lactanz cooperative and two farmers who were told last year their milk wasn’t needed.
The federal government has endorsed changes to the livestock export industry designed to improve animal welfare but the WA government says it may still try to ban live sheep exports to the Middle East during the northern hemisphere summer.
The $5 billion Northern Australia Infrastructure Fund has finalised its second deal, providing nearly $30 million to a barramundi farm in the Northern Territory, two weeks after chair Sharon Warburton stepped down.
Federal Labor has effectively committed to end live sheep exports with its agriculture spokesman, Joel Fitzgibbon, telling an Adelaide radio station the party does not believe there is a future for the sector.
Milk production in Western Australia has recovered to levels approaching those before the industry’s deregulation nearly two decades ago, a recent report has found, while the number of milk-producing farms in the state has fallen significantly.
An ambitious water supply project in Western Australia's South West is set to proceed after gaining federal government backing, with Collie Water chairman Peter Fogarty saying he was well advanced in securing private investors to complete funding.
SPECIAL REPORT: Western Australia’s five biggest agribusinesses are earning about $5.5 billion in revenue annually, according to the latest BNiQ Search Engine data, down from $5.8 billion when the list was last published 18 months ago.
The environmental watchdog has recommended approval of the first stage of China-backed Kimberley Agricultural Investment’s Carlton Plain project, which comprises a 3,000-hectare irrigated development north-west of Kununarra.