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wa this week – 10 years ago

Seven launches bid for GWNTHIS week 10 years ago, the Seven Network planned to acquire the Golden West Net-work (GWN) for about $81.6 million by issuing no more than 24 million shares in Australian Capital Equity, Kerry Stokes’ private holding company.GWN was then owned by Mr Stokes, who also owned a 19.9 per cent stake in Seven.In the same week, it also announced acquisition plans for Queensland’s Sunshine Broadcasting Network Gary Rice, Seven’s then managing director said the network had plans to grow delivery of service throughout the respective states. Last week, Seven began a litigation case against a number of defendants, seeking up to $1 billion in damages over the closure of its C7 pay television channel in 2002. WMC pulls pin on Pilbara gold WESTERN Mining Corporation revealed it would not proceed to stage two of a heads of agreement it signed with Elazac Mining and Haoma Mining for a gold mining joint venture in the Pilbara region of WA. Haoma was originally incorporated in WA, but is now based in Melbourne and operates the Bamboo Creek gold operation 70km northeast of Marble Bar. The company is chaired by Gary Morgan, formerly a director of Elazac, which no longer trades and had links with Melbourne business identity John Elliott. BHP looks into Burrup methanol BHP said it was planning a feasibility study into developing a world-scale methanol plant in the Pilbara region of WA that didn’t eventuate. The proposed $400 million plant would have produced 850,000 tonnes of methanol a year and generated more than $120 million of export income every year. BHP Petroleum’s preferred site was on land previously used by the North West Shelf gas project on the Burrup Peninsula. In August 1996, however, BHP abandoned the project due to pressures in the international marketplace for methanol over the previous nine months, which rendered the project unfeasible. The company spent $5 million on the 10 month feasibility study. Robe River loads 3,000th vessel ROBE River Iron Associates loaded its 3,000th vessel with iron ore at its Cape Lambert port facility. The ship took cargo of 135,000 tonnes of iron ore sinter fines to steel mills owned by Japan’s Sumitomo Metal Industries, a project joint venture partner. North Mining owned a 53 per cent stake in the project, with other partners Mitsui & Co and Nippon Steel Corporation and Sumitomo owning the other interests. Robe River Iron Ore is now owned by Rio Tinto.

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