25/06/2008 - 06:46

Today's Business Headlines

25/06/2008 - 06:46

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BHP hails bumper ore price but wants more; BG lobs hostile $14bn Origin bid; Boom prices the people out of Pilbara; Strategy clash sees Kiernan quit Territory board; Perilya, CBH hit as failed merger test tempers

Today's Business Headlines

BHP hails bumper ore price but wants more
BHP Billiton has warned Asia's steel mills that an 85 per cent rise in benchmark iron ore prices was "progress only" in the battle betweeen the Pilbara iron ore producers and their customers to secure a slice of a contentious freight bonus. The West

BG lobs hostile $14bn Origin bid
The race is on for origin energy to strike a deal with one of ten parties believed to be conducting due diligence on its coal seam methane assets. The Australian

Boom prices the people out of Pilbara
The massive iron ore price rise extracted by Rio Tinto from Chinese steel makers will hand the West Australian government an extra $800 million in royalty payments over four years - but the propserity comes at a high personal cost for some, as soaring property prices force key service providers like tecacher and nurses out of town. The Fin Review

Strategy clash sees Kiernan quit Territory board
Michael Kiernan's dream to build a diversified WA mining house was in tatters last night after he resigned from the board of his flagship vehicle, iron ore producer Territory Resources, after a clash with fellow board members over strategy. The West

Perilya, CBH hit as failed merger test tempers
Perilya shares sagged sa much as 10 per cent yesterday after the company confirmed it hd rejected iproved merger terms from CBH Resources, which has ruled out lifting its bid or taking it hostile. The West

 

THE WEST AUSTRALIAN

Liberal MP John Castrilli played a major role in establishing an international technology company now caught up in allegations that $400,000 worth of drug money was used to launch the firm.

Business: BHP Billiton has warned Asia's steel mills that an 85 per cent rise in benchmark iron ore prices was "progress only" in the battle betweeen the Pilbara iron ore producers and their customers to secure a slice of a contentious freight bonus.

Andrew Forrest made $1.1 billion yesterday as the paper value of his cotrolling stake in fortscue Metals Group soared more than 9 per cent to a record high.

Michael Kiernan's dream to build a diversified WA mining house was in tatters last night after he resigned from the board of his flagship vehicle, iron ore producer Territory Resources, after a clash with fellow board members over strategy.

Perilya shares sagged sa much as 10 per cent yesterday after the company confirmed it hd rejected iproved merger terms from CBH Resources, which has ruled out lifting its bid or taking it hostile.


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