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Court overturns approval for Dunsborough petrol proposal

The developer behind a long-running bid to build a 24-hour Puma service station in Dunsborough faces an uphill battle to get the project approved, after Western Australia’s Court of Appeal overturned a Supreme Court ruling that gave it the go-ahead last year.

Piedmont raises $12m

Piedmont Lithium has tapped investors for $12.2 million to fund an expansion and upgrade at the company’s namesake project in the US state of North Carolina.

Ellison earns $4.7m, or is it $2.4m?

SPECIAL REPORT: There can be wide differences between the statutory pay reported by listed companies and the ‘take home’ pay of their senior executives.

Drop in million-dollar club

SPECIAL REPORT: There has been a notable reduction in the number of high-earning executives in WA, though some individuals do well year after year, research by Business News has found.

Morning Headlines

Fracking bans leave Forrest eyeing court

McNeilly named as Poynton's successor on Christ Church council

John Poynton will step down as chair of Christ Church Grammar School’s council in January, to be succeeded by property developer Matthew McNeilly.

Roobix acquires Titan Digital

Perth marketing agency Roobix has substantially expanded its customer base and staffing by acquiring the assets of Titan Digital for $3.5 million.

Scarborough site for sale

A 4,497 square metre multi-lot site in Scarborough has been placed on the market, raising the possibility for further high density residential development in the suburb.

Matrix shares rise on $15.3m contract win

Shares in Matrix Composites & Engineering have jumped 16 per cent today to trade at 43 cents each, after the Henderson-based oil and gas services company announced it had won a $15.3 million contract.

Reiwa shows Perth house price uptick

Perth house prices have risen for the second straight month, according to new data from the Real Estate Institute of Western Australia, which released its monthly figures today ahead of market analyst CoreLogic.

Decmil in $65m BHP extension

Decmil has been awarded a $65 million contract extension with BHP Group for expansion works at the Mulla Mulla village in the Pilbara.

Cirrus wins $3m Woodside contract

Subiaco-based Cirrus Networks has won a $3 million cyber security contract with oil and gas giant Woodside Petroleum.

Mark my words podcast

PODCAST: Mark Pownall and Mark Beyer discuss the Rio Tinto expansion, fracking move, Rob Scott, Eastern Goldfields, Stan Perron and our special report on CEO salaries.

Adco, EMCO win $20m in contracts

Adco Constructions has secured a contract to complete expansion works at Bunbury Regional Prison, while EMCO Building will construct a new performing arts centre at Melville Senior High School.

EMC deal falls through for Carnegie

Carnegie Clean Energy has been forced to abandon plans to sell its battery storage and microgrid business, while chairman Terry Stinson has detailed the renewable energy outfit’s recent struggles in an address at today’s annual meeting.

Fracking decision opens opportunities

As the debate continues from the state government’s recent decision on fracking, it is worth considering some of the potential projects that may proceed.

Saracen back to the drawing board for Royal George plan

Saracen Properties will reassess plans for a redevelopment of the historic Royal George Hotel in East Fremantle, after Planning Minister Rita Saffioti backed a proposal to limit building height on the site to seven storeys.

Rocky Bay expands disability focus

Disability service provider Rocky Bay has navigated its second not-for-profit acquisition, as it makes the move towards extensive infrastructure redevelopment.

McCarthy quits The West

The editor of The West Australian, Brett McCarthy, has resigned with immediate effect, after nearly a decade at the helm of the state’s only major newspaper.

Morning Headlines

Palmer’s CITIC battle ‘endangers 3000 jobs’

Norwest slumps on ASX debut

Shares in Norwest Minerals fell 10 per cent to close its first day of trading at 18 cents each, after the company raised $6.6 million via an initial public offering.

RCR secures last-gasp funding

The administrators in charge of RCR Tomlinson have secured funding to support the engineering contractor’s operations, and disclosed that more than 180 parties have expressed interest in the planned sale of its business.

Eastern Goldfields into administration

Eastern Goldfields has been placed into administration, a day after announcing its proposed $75 million recapitalisation plan had fallen through.

Forrest ups FMG stake with $23m buy

Andrew Forrest has made a $23 million share purchase in Fortescue Metals Group, confirming his position at the top of Business News’ director shareholdings list.

Genesis appoints McKeith as chair

Perth-based gold exploration company Genesis Minerals has announced the appointment of mining executive and company director Tommy McKeith as chair.

Housing construction to remain near record lows

The number of new homes being built in Western Australia has fallen to its lowest level since records started in 1984, with little signs of improvement predicted in the next few years, according to the latest report from the Housing Industry Forecasting Group.

Robo adviser’s retirement role

A Perth-based fintech startup is aiming to shake up the retirement incomes market with a new twist on a frequently maligned product.

$12bn to be spent on iron ore mines

Rio Tinto has approved a $3.5 billion investment to develop its Koodaideri iron ore mine in the Pilbara, lifting the total amount to be spent on new iron ore projects in Western Australia to $12 billion.

Steel doubts, new product mix improves Fortescue outlook

A recent deterioration in profits among China’s steel producers is boosting the prospects of lower-grade iron ore producers such as Fortescue Metals Group, with steelmakers expected to shift their focus to reducing costs rather than boosting volumes if margins continue to decline.

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