Business News

Junior explorer AVZ Minerals has become subject to Supreme Court action after a Mauritius-based private resources investment firm claimed ownership of a lithium deposit in the Democratic Republic of Congo, which AVZ said last month it would be acquiring a major stake in.

Dr Richard Hopkins has been appointed chief executive officer of PharmAust.Swapna Keskar has been appointed company secretary of CoAssets.

The Barnett government has seized on comments by Australia's competition chief Rod Sims that plans to privatise Western Australia's poles and wires utility, Western Power, would lead to lower prices, while Labor leader Mark McGowan has claimed a re-elected Liberal government would also sell Water Corporation. 

Listed communications and ICT services provider Inabox Group has grown its local presence with the acquisition of Perth-based Logic Communications for $1.5 million in cash.

Perth hotel prices fell by 11.5 per cent in 2016, with demand for lodgings continuing to cool along with Western Australia’s economy.

The Takeovers Panel has declined to look into construction giant CIMIC Group's claim that takeover target Macmahon Holdings' target statement was misleading and deceptive.

One of the three prime contractors undertaking the state government’s GovNext ICT infrastructure project has recruited Perth-based IT services provider Empired as a subcontractor under a $15 million deal.

BC Iron has appointed Jenny Bloom and Michael G Blakiston as non-executive directors.

Subiaco-based Lucapa Diamond Company has sold $9.1 million of alluvial diamonds from its Lulo operation in Angola, bringing its total sales from that site to more than $100 million.

WA Labor has demanded the Liberals guarantee a privatisation of Western Power won't lead to electricity price rises and release legislation on the deal, while the Liberals say prices will not be impacted because they are independently regulated.

Drivers will be able to turn left on red lights at 10 intersections across Perth under a trial announced by Liberal Transport Minister Bill Marmion if the party is re-elected next Saturday.

Alexium International has appointed former US Congresswoman, Karen Thurman, as non-executive director.

Mining services business Ausdrill has won a $70 million extension to its contract for work at Peabody Energy Corporation’s coal mines on the east coast.

Spanish-controlled CIMIC Group has stood its ground over its Macmahon Holdings takeover play, telling the market today it would not lift its offer price despite the target entering into a counter-agreement with an Indonesian miner.

Swift Networks has won a contract to provide its services to Shell at the energy giant’s Prelude LNG project in the state’s north-west for an undisclosed sum.

Top-tier Australian female managers earn $93,000 less than their male counterparts, according to a report released today analysing graduate positions up to senior level management roles.

Alex Forcke has resigned as non-executive director of Entek Energy.

BC Iron is branching out of its iron ore focus by spending up to $10.5 million as part of a joint venture with freshly listed sulphate of potash explorer Kalium Lakes.

GR Engineering Services has been contracted for work on Eni Australia’s Blacktip Gasfield operations in the Timor Sea, with the value of the work undisclosed.

Force Commodities has appointed Mark Darras as independent non-executive chair and Alistair Stephens as executive director.  Current non-executive chair Charles Thomas and managing director Ro

Crown Resorts has reportedly cut more than 200 jobs at its Crown Perth entertainment complex in the wake of a 38 per cent fall in high-roller revenue.

Kidman Resources has bought two lithium tenements from nickel miner Western Areas in a $6 million all-scrip deal, while Lithium Australia has signed a memorandum for a joint venture in Germany.

Southern Cross Electrical Engineering expects to bounce back from a net loss in the first half of the 2017 financial year after announcing the “transformational” acquisition of a Sydney-based electrical contractor.

Premier Colin Barnett says the final stage of the contentious Perth Freight Link will involve expanding Stirling Bridge and not digging a tunnel under the Swan River, although the federal government doesn’t expect that to be necessary until at least the mid-2020s.

Lee-Anne de Bruin has been appointed chief financial officer of Resolute Mining.  Previous long-serving chief financial officer, Greg Fitzgerald, will remain as company secretary.

Local explorers Lithium Australia and Lepidico have settled an intellectual property dispute on mutual grounds, with the terms undisclosed.

Perth-based GR Engineering Services has kept performance up despite trying times in the mining sector, with profit and revenue slightly lower for the December half-year.

Dropsuite has appointed Bruce Tonkin as non-executive director and Zoran Grujic as chief financial officer and joint company secretary. Mark Smith will be stepping down as company secretary.

The Royal Flying Doctor Service WA has today announced former Rio Tinto chief executive Sam Walsh as the successor of chair Neville Bassett. 

Stockbroker and funds manager Euroz has beaten expectations for its interim profit result, which was achieved on the back of an improved performance of its Euroz Securities business and increase in the share prices of its listed investment companies.

National hire equipment supplier Kennards Hire has acquired a Belmont-based company that offers similar services for an undisclosed sum.

Perth-based Monadelphous Group has received a number of contracts with multiple clients including Fortescue Metals Group, BHP Billiton and Chevron, with the work worth a combined $120 million.