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Nova mine officially opens

Independence Group has officially opened its Nova nickel-copper mine in the Fraser Range, making it the company’s fourth producing operation.

Wyatt rejects gold miner threats

Treasurer Ben Wyatt has signalled he won't be bullied by the gold mining industry, which is opposing royalty rate hikes that were unveiled in the state budget.

Mark my words podcast

In this Business News podcast Mark Pownall and Mark Beyer discuss the state budget, contractor collapses, Lisa Scaffidi, advertising industry, ageing population and corporate wellness.

Peel to spin-out local gold asset

Junior explorer Peel Mining has announced plans to spin-off its Apollo Hill gold project near Leonora into a new company and list it on the ASX by way of an initial public offering.

App/tech business of the week ~ Thimble

Thimble is a one-of-a-kind app on the iTunes Store that will directly help and bring the community together in a member’s time of need.

APRA panel appointed for CBA probe

Australia's financial sector regulator has appointed three panel members to inquire into the Commonwealth Bank of Australia's governance, culture and accountability.

Share open 2pts higher

The Australian market has opened hardly changed, but in the green

Morning Headlines

WA Labor tax grab hit on business

WA $90bn losers from federation

Western Australians paid nearly $90 billion more in taxes to the federal government than they received in spending in the four years to June 2016, according to estimates revealed by the Department of Treasury in yesterday’s budget.

$A lifts well above 80 US cents

The Australian dollar is sharply higher against its US counterpart and well above the 80 US cent mark after European Central Bank commentary failed to announce any tapering of its bond-purchasing program.

Gold hits one-year peak as $US drops

Gold prices have risen to a one-year peak after the US dollar tumbled on the back of weak US jobs data and an unchanged growth and inflation outlook from the European Central Bank.

Stamp duty windfall from large deal

The state government has budgeted for a $169 million stamp duty windfall from a single ‘property’ transaction, the latest in a string of large deals that have boosted its coffers.

State debt to peak at $43.8bn

Western Australia’s net debt is set for further big increases over the next three years before coming down slightly once the government’s budget returns to surplus in 2020-21.

Shares close 0.2pts higher

Despite a good start to the session, the Australian share market has closed steady as investors worry about the possibility of another North Korean missile test on Saturday, the anniversary of the country's founding.

High-end, big apartments selling

Sales across Perth’s new apartments market are on the rise, with larger apartments offering premium amenities emerging as best sellers.

Merger changed Perth legal landscape

It was 20 years’ ago this month that Perth’s two largest law firms surprised the business community by merging their operations. Herbert Smith Freehills hosted many of the 50-plus partners who were there at the time to mark the occasion.

Business groups say tax hikes will lock in pain

Gold miners have warned of devastating consequences from a higher royalty rate, including potential mine closures, while business groups have also taken aim at proposed payroll tax hikes for larger employers, after both were targeted in a $1 billion revenue grab by the state government in today’s budget.

Galena debuts on ASX

Lead and silver explorer Galena Mining has made a positive debut on the ASX after completing a $6 million initial offering.

This week's property round-up

Sales activity contracted over the week, with Reiwa members reporting a decrease in weekly sales to 512.

Scaffidi stands down pending appeal

UPDATED: Lisa Scaffidi has stood down from her duties as Perth's lord mayor, pending an appeal against her 18-month disqualification from holding office for repeatedly failing to disclose gifts and travel, but plans to retain the title and her annual allowance.

Poseidon attracts another user for Black Swan

Poseidon Nickel is in discussions with Empire Resources for the processing of gold ore at its mothballed Black Swan processing facility near Kalgoorlie, while Empire has secured two loan deals to help pay for essential mining costs.

Maca wins Pilgangoora contract

Pilbara Minerals has chosen MACA to carry out mining services work at its Pilgangoora lithium-tantalum project for an undisclosed sum.

Shares open 22pts higher

The Australian share market has opened higher, following the positive lead of US equities.

Morning Headlines

Payroll tax shock

$A almost back at 80 US cents

The Australian dollar has crept higher against its US counterpart, recouping a little of its loss following weaker-than-expected economic growth figures and gains in the greenback.

Oil up on Harvey fallout, Irma approach

Oil prices have risen more than per cent as strong global refining margins and the reopening of US Gulf Coast refineries provided a more bullish outlook after sharp drops due to Hurricane Harvey.

Gold eases off 1-yr high on US debt deal

Gold prices have fallen from the one-year high hit in the previous session as concerns over a potential US government shutdown eased and the dollar rose against the safe-haven yen.

Fogarty expands via McWilliams deal

Fogarty Wine Group’s Margaret River Vintners business has expanded its operations, taking on the Evans & Tate brand and assets, the Smithbrook and Pemberton Estate vineyards, and buying the Amadeus vineyard at Wilyabrup

Hungry Jack’s returns to Eagles jerseys

Hungry Jack’s will replace Bankwest on the West Coast Eagles’ jerseys next year, returning to the team it sponsored for 25 years until it was bumped by Bankwest in 2012.

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