Rail infrastructure company Aurizon is positive but cautious about the West Pilbara iron ore project, with chairman John Prescott saying today that, on balance, he expects the development to proceed.
Iron ore prices may have softened significantly from about $US130 a tonne during the past year, but that has not stopped local miners ramping up exports.
Mid-tier iron ore miner Mineral Resources has increased its full-year net profit by 28 per cent to $231 million, with the help of a 93 per cent increase in iron ore export volumes.
Mid-tier iron ore miner Mineral Resources' $70 million investment in six new trains has kicked off its stated 20-year commitment to the Yilgarn region.
Rail operator Aurizon has written off $19 million it has spent trying to develop an infrastructure solution for iron ore producers in the East Pilbara, including Atlas Iron and Brockman Resources.
Baosteel and Aurizon are set to take control of Aquila Resources after another major shareholder threw their support behind the $1.4 billion takeover deal.
Aquila Resources' share price has stabilised at just below its $3.40 per share takeover offer, indicating the market is backing Baosteel and Aurizon to succeed with their $1.4 billion takeover.
Baosteel and Aurizon look set to gain control of Aquila Resources after the iron ore hopeful rejected a takeover proposal from Mineral Resources, and instead recommended its shareholders accept the current $3.40 per share offer.
Aquila Resources and Mineral Resources placed their shares in a trading halt this morning, ahead of an announcement regarding a “potential corporate transaction”, due Wednesday.
In the latest twist for takeover target Aquila Resources, suitor Baosteel said it would not increase its $1.4 billion offer for the iron ore developer and that it would reconsider its 20 per cent shareholding in the company if the bid was unsuccessful.
The takeover bid for Aquila Resources took an unexpected turn today when a mystery buyer, believed to be Mineral Resources, spent about $192 million buying a large stake in the Perth company, paying well above the bid price.
Increasingly online-savvy customers have fuelled business and government demand for digital communications advice, which in turn has spurred public relations firms to increase their offering in this specialist area.
LandCorp has placed a 4.55-hectare parcel of industrial land near Geraldton on the market, in an effort to meet rising demand from businesses seeking large plots of land near the Mid West city.
Aquila Resources will respond to a $1.4 billion joint takeover bid from listed railway operator Aurizon and Chinese steel giant Baosteel within the next two weeks following the dispatch of a bidders' statement today.
The slump in the price of iron-ore to near 20-month lows has failed to halt the development of assets in Australia and overseas, despite ongoing cost cutting across the sector.
Chinese steel giant Baosteel and listed railway operator Aurizon have cleared a key hurdle in their $1.4 billion joint takeover bid for Perth-based Aquila Resources, with the Foreign Investment Review Board giving the green light to the proposed deal.
It may not be a feeding frenzy, yet, but the flood of deals in the Australian mining industry is a pointer to a significant and very positive mood swing.
The $1.4 billion joint bid by Baosteel and Aurizon for control of Perth-based Aquila Resources marks a new wave of Chinese investment interest in WA's iron ore.
Two major events last week highlighted the private sector's desire to deliver new port infrastructure, and it's a trend the Barnett government could take even further.
Continued growth of the Pilbara as an export-focused iron ore province received a huge boost today when Chinese steel giant Baosteel and Australian railway operator Aurizon teamed up to bid for the Perth company behind a $6 billion port and rail project.
Atlas Iron managing director Ken Brinsden told a business forum in Perth today the big mining houses' practice of locking-up resources in the Pilbara was depriving smaller miners of development opp
Mining services group Emeco Holdings has recruited Aurizon executive Ken Lewsey as its new managing director, on a package that will make him one of the top 25 best-paid executives in Perth.
Perth-based FIRM Construction has been selected by German mining machinery manufacturer Wirtgen Group to build a $40 million sales and service facility in South Guildford.
The operator of one of China's largest ports has signed up as a potential investor in new rail and port infrastructure to service iron ore miners in the Pilbara.
Aspiring iron ore miner Brockman Mining has submitted a proposal to gain access to rail infrastructure built by Fortescue Metals Group, setting up competition between two infrastructure providers i
Gina Rinehart's part-owned Queensland coal company has strick an agreement with Aurizon to develop new rail and port facilities for the Galilee Basin worth about $6 billion.
