Diversified energy company Pan Asia Corporation announced today that it has entered in to a heads of agreement with Glory Merry for the sale of its Innovation West Mantewe subsidiary, which has a 75 per cent interest in Indonesian mining operation Transcoal Minergy.
Ratings agency Moody's says Australia's triple-A credit rating remains intact but has expressed doubt about the federal government's timetable for reducing the budget deficit.
Ratings agencies Moody's and S&P have downgraded the debt of agribusiness Qunitis, while private equity fund Black Rock revealed it had taken a 5.1 per cent stake in the company.
Premier Mark McGowan will seek to freeze the wages of all politicians, public service heads, judges, magistrates, the WA governor, and local council chief executives for the next four years, while offering a $1,000 increase to all public sector employees.
Corrective Services Minister Fran Logan says he has put private prison operator Sodexo on notice over repeated contract breaches, and claims the Melaleuca women's jail is so poorly run that lawyers visiting inmates feel unsafe there.
West Perth-based Australian Potash has completed native title work for its Lake Wells project in the Goldfields, and is expected to commence work on a feasibility study in coming months.
Oil prices have risen for a second day, closing more than 1 per cent higher as support grew for OPEC output cuts a day after the US government reported a big draw in crude inventories, boosting confidence that a global glut might diminish.
Gold has risen as US and European stock markets retreated, but its gains have been curtailed after data showing a tightening jobs market and accelerating inflation briefly lifted the US dollar.
Iron ore miners Rio Tinto and Fortescue Metals Group have announced initiatives designed to assist local suppliers, with Rio establishing a dedicated procurement team and FMG shortening payment terms.
The share market ended the day steady after early gains by the big four banks evaporated in afternoon trade, and miners fall on weaker iron ore futures.
Gold hopeful Impact Minerals is aiming to raise $4 million through a share purchase plan to fund exploration at is Commonwealth gold-silver-base metals project in NSW.
The construction union and seven of its officials, including Joe McDonald and Mick Buchan, have incurred penalties totalling $277,000 for unlawful blockades of the Perth Children's Hospital site.
The new bank levy has opened a Pandora's box that leaves Australia's biggest financial institutions exposed to even higher costs in future, according to a leading industry analyst.
The Association of Mining and Exploration Companies has strongly criticised a federal government decision to abolish the exploration development incentive tax concession, which it warns will have severe consequences in a climate where exploration is already soft.
Altona Mining has received Foreign Investment Review Board approval for a subsidiary of Chinese company Sichuan Railway Investment Group to invest more than $US200 million to set up its Cloncurry copper project in Queensland.
West Perth-based gold miner Beadell Resources has started work on a $US28 million plant upgrade project at its Tucano gold mine in Brazil, with commissioning to get under way in the middle of 2018.
The major shareholders in Wellard, including China's Fulida Group Holdings and local agribusiness Heytesbury, are expected to lift their stake in the livestock exporter after a big shortfall from its rights issue.
Oil prices have risen more than three per cent, bolstered by the biggest one-week drop in US inventories so far this year, and after Iraq and Algeria joined Saudi Arabia in supporting an extension to OPEC supply cuts.
Gold has turned lower but has held above the previous day's eight-week low as US President Trump's abrupt firing of FBI chief James Comey weighed on US stocks, though gains were capped by expectations of further interest rate increases.
The Australian share market has recovered from a poor start to close higher, but most of the big banks still face some pressure after the Turnbull government's budget announcement of a $6.2 billion levy.
The state government has confirmed that Perth Stadium will not be ready to host the Ashes cricket Test in December this year, saying the first confirmed event was an Ed Sheeran concert on March 3 2018.
Perth Lord Mayor Lisa Scaffidi has accused the premier and opposition leader of political interference in a legal process after they demanded her resignation over serious breaches of local government laws.
Amani Gold has signed a memorandum of understanding with a little-known Chinese investment group to raise $25 million via a share issue to fund drilling at the Giro Gold project in the Congo.
