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Signs point to coal closures

Older coal fired power stations such as Synergy’s Muja C&D could begin closing in 2023, driven by changing market dynamics, while harsher carbon policies would accelerate shutdowns, according to a recent report by the Australian Energy Market Operator.

Birimian plans $8.2m raising, reviews business

Subiaco-based Birimian has announced plans to raise $8.2 million for its Goulamina project in Mali, while the lithium aspirant also flagged a business review and two separate agreements with Chinese companies.

Ichthys hit by another cost blow out

The cost of building the Ichthys LNG project has blown out again, with French group Total saying it has increased by $US5 billion to $US45 billion, but project operator Inpex is disputing the extent of the increase.

Tampia capex falls to $111m

A revised feasibility study released by Explaurum has detailed a reduced capital cost of $111 million for its Tampia project in the Wheatbelt, as Ramelius Resources increased its stake in the gold explorer to 20 per cent.

Mark my words podcast

PODCAST: Mark Beyer and Matt Mckenzie discuss Stan Perron, our update on major WA projects — some going ahead, some not — Westport, the space agency, lobster quotas, and our person of the year feature.

Offshore buyers, institutions drive office sales near $1bn

Australian institutional investors and offshore property powerhouses sharpened their focus on potential upside in Perth’s office market in 2018, as the total value of transactions approached $1 billion.

$100,000 fine for car dealer

Luxury car dealership Luxuride and its director have been fined a total of $100,000 by the Perth Magistrates Court for breaking laws designed to protect consumers.

Lateral raises $7.3m for Soar, Unocart

Tommy Shin-led Lateral Capital Ventures has secured funding for two Perth-based startups, led by a $6.8 million raising for blockchain platform Soar.

Success is one thing, smooth succession quite another

SPECIAL REPORT: BGC Australia and Perron Group are going through changes that all family-owned businesses face, large or small.

Blackburnes’ lasting legacy on Perth property

SPECIAL REPORT: Paul, Nathan and John Blackburne are proving that they don’t have to work for the same company to leave a family legacy in Perth’s property industry.

Curbing wild election promises

Opinion: With the government seemingly on track to delivery a budget surplus, one key aspect of the Langoulant review is worth another look.

Morning Headlines

Corporate tax take increases by 19 per cent

Singapore's GIC adds Exchange Tower to Australian portfolio

Singapore’s GIC Real Estate has made its second major Perth commercial property purchase, acquiring A-grade office building Exchange Tower from joint owners Primewest and AMP Capital for $326 million.

Old school cool in new Northbridge

Graham Hardie is continuing to evolve his entertainment empire after nearly four decades in Northbridge hospitality.

Baker Hughes, McDermott for Equus

GE subsidiary Baker Hughes and McDermott International have been picked for front end engineering and design work on Western Gas’s Equus project, under a contract arrangement whereby they will see the project through to commissioning.

Capricorn secures $107m debt deal

Gold aspirant Capricorn Metals has locked in a $107 million debt package, while Subiaco-based TNG has appointed a German bank to lead a $US600 million ($850 million) debt raising.

Ramelius adds cash to Explaurum offer

Ramelius Resources has revised its hostile takeover offer for gold-focused Explaurum, adding a 2 cents per share sweetener to its original deal.

TSI in $8.6m purchase

Local tech company Transaction Solutions International has acquired a Sydney-based cloud management business in a deal worth $8.6 million.

P&N ponders $6bn tie-up

P&N Bank is considering a merger with regional east coast credit union bcu, which is about half the size of the Perth-based lender, to form a combined group with a $6 billion asset base and 150,000 customers across the country.

OncoRes Medical wins with London pitch

A Nedlands-based tech startup that is aiming to raise $15 million next year has been chosen as joint winner in global finals for international startup competition Pitch@Palace at St James’s Palace, London.

Perron pledges billions to charity

Perron Group has announced key board appointments after the passing of its founder Stan Perron and disclosed the “greater majority” of its $4 billion in net assets will be donated to charity.

McGowan reshuffles cabinet

Premier Mark McGowan has reallocated six portfolios within his cabinet, including the energy portfolio being transferred from Treasurer Ben Wyatt to Mines and Petroleum Minister Bill Johnston.

Telling lack of local investment

Opinion: WA punches well above its weight in terms of technical and operational skills, but our manufacturers could do with a bit more hometown support.

Morning Headlines

GIC backs $326m buy as mining cities regain lustre

Freight links still key for Freo port future

Fremantle’s port has room to grow container trade, possibly for three decades, according to a new report by the state government’s Westport taskforce, but freight infrastructure improvements are needed in the short term at Fremantle, Bunbury and Kwinana.

WA misses out on space station

The state government has voiced its frustration at the Commonwealth’s decision to choose Adelaide as the home of Australia’s $41 million space agency.

CFC posts $18m profit in FY18

Diversified family business CFC Group has registered a big jump in profit for the 2018 financial year, aided by strong performances across its three primary operations.

Maca wins $28m contract

MACA has been awarded a $28 million contract for work at Adaman Resources’ Kirkalocka gold project near Mt Magnet.

Alcoa locks in gas supply

Alumina producer Alcoa of Australia has signed three supply deals with BHP Group, Woodside Petroleum and Chevron to provide about 23 petajoules of gas between them annually from 2020 for its Western Australian refineries.

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