Business News

Rio Tinto has backed a STEM initative in the Pilbara, while Fortescue Metals Group has thrown its support behind Ricky Grace's Girls Academy.

Krakatoa Resources has announced a capital raising $275,000 by way of a placement at 2.2 cents a share. 

The WA Maritime Museum, The Raw Kitchen, and small bar Percy Flint were among the winners at the Fremantle Chamber of Commerce's annual awards night this past Friday, in a competition described by judges as one of the most tightly fought in years.

Perth-based Illuminance Solutions has claimed a global technology award, winning a Microsoft 2019 partner of the year award.

Our daily board moves wrap includes Neil Meadows, Douglas Loh, Mark Chamberlain, Suraj Sanghani, Craig Smith, Campbell McKenzie, Catherine Grant-Edwards, Melissa Chapman, Daniel Noonan, and Geoffrey Laing.

The administrators of Perth-based Transit Clothing have announced that the business will close and cease trading at all remaining store locations within the coming week.

Parkd co-founder Peter McUtchen is stepping down as managing director and will be replaced by the company’s chief financial officer.

PolarX will undertake a $4.3 million rights issue, less than a week after it secured the same amount via an earn-in investment from Lundin Mining.

Hun Seng Tan has retired as non-executive director of GBM Resources, having served on the board for over 4 years.

Our weekly appointments wrap includes Jemma Green, David Capper, Jonathan Carapetis, Johan Wesseloo, Stuart Bell and Michael Swift.

Rio Tinto has awarded a contract around $30 million to Onsite Rental Group to provide ancillary and light mobile equipment over the next three years.

Mining services contractor Ausdrill anticipates a non-cash impairment of between $75 million and $95 million in its results for this financial year.

Base metals junior Peel Mining has raised $7 million through an oversubscribed share placement, with the funds to go towards its projects in the Cobar Basin in NSW.

Salt Lake Potash has raised $20.25 million via a share placement, with the funds set to advance the development of its Lake Way project.

Our daily board moves wrap includes Andrew Paterson, Leonard Math, Tim Roberts, Paul Peros, and Sharon Warburton.

Valmec has secured a $4.5 million contract at Australian Gas Infrastructure Group’s Hydrogen Park production facility.

The Australian Securities and Investments Commission has permanently banned a Perth man from providing financial advice, following his conduct as a representative of Westpac and The Financiallink Group.

Po Chang Chen has been appointed non-executive director of CAQ Holdings. Mr  Chen is a venture capitalist with a background in the development of business turnaround strategies in Asia.

Perth-based fund manager Lester Group has bought two off market industrial properties in Forrestfield and Bibra Lake, for a combined $19.15 million.

Titan Minerals has raised $20 million via a share placement, as the Subiaco-based junior seeks to complete its acquisition of Canada-based Core Gold and advance Core's Dynasty Goldfield project in Ecuador.

Uranium explorer Deep Yellow and Rare earths hopeful Pensana Metals have raised $9 million and $5 million, respectively, as the two companies seek to advance their projects in Africa.

Our daily board moves wrap includes Michael Pivac, Aidan Flynn, Simon Amos, Sally-Anne Layman, Mark Le Messurier, Michael Ball, Tanugula Rao, Geoffrey Clifford, Joe Graziano, and Mauro Balzarini.

Family Insights Group has raised $422,112 through a placement at 0.1 cents a share. Riversgold has raised $218,000 through a placement at 2.2 cents a share. 

Peter Tazewell has resigned as chief executive of DTI Group and will leave the company at the end of June.

Finbar Group has lowered its profit guidance by up to $5 million for this financial year, following delays at its Vue and Palmyra Apartments Estate projects.

Lepidico has raised $10.8 million via a rights issue, with the funds to go towards its lithium hydroxide production product.

The 9,200-kilometre Indigo subsea cable system that links Perth to Singapore and Sydney has been commissioned.

James Packer has sold a $1.76 billion stake in Crown Resorts to Hong Kong-based Melco Resorts & Entertainment.

Our daily board moves wrap includes Rebecca Broughton, Gemma Davies, Kevin Piepgrass, Mark Lynam, and John Langoulant.

Our weekly appointments wrap includes John Langoulant, Sue Pember, Maria Saraceni, Wayne Peel, Alex Willcocks, Adrian Gurgone, Lorraine Gregoriadis, Sarah Greenough, Sarah Bagshaw, Mark Woffenden, Lisa Paul, Dianne Bain, Claire Wilkinson, Trudy Cook, Anthony Mauro, Lui Pangiarella, Jason O’Meara, Alex Da Silva and Doug McKay.

Business News has joined forces with Perth-based start-up CXWA to promote a new way to engage and learn about the Chinese market, the Beijing Business Discovery Tour.

The federal court has ordered Garuda and Jetstar to pay $19 million and $1.95 million in penalties, respectively, after action taken by the Australian Consumer and Competition Commission.