News Articles for Foreign Investment Review Board

FIRB process was disappointing: Gregg

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Paddy Gregg says he's disappointed Austal was excluded from the decision-making process, and was given no insight into the "strict conditions" placed on Korean giant Hanwha's bid to double its stake in firm.

Chalmers approves Hanwha's Austal bid

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South Korean chaebol Hanwha has been given the greenlight to double its stake in Australia's sovereign shipbuilder Austal following months of deliberation by Treasurer Jim Chalmers.

Albanese defends FIRB independence

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As the USS Vermont undergoes a landmark overhaul in WA, the prime minister faced questions over Austal's future ownership and the broader industrial readiness needed for Aukus.

Austal chief to press Chalmers on Hanwha

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Paddy Gregg says he'll "be a little mischievous" and probe Anthony Albanese on the Foreign Investment Review Board decision on the company's ownership at a dinner in Perth tonight.

Austal, ASC to collaborate on 3D printing

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Australia's sovereign submarine builder and sovereign shipbuilder have signed an agreement to collaborate on workforce development and 3D printing opportunities.

Trump post was first Marles knew of Korean sub deal

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Richard Marles found out the US greenlit South Korean companies to build submarines on US soil via a Trump social media post, as an update on Hanwha's bid to increase its Austal stake continues to be delayed.

Austal shareholders question Hanwha delay

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Anxiety over the protracted Foreign Investment Review Board decision on Hanwha Group's proposed increased stake in Austal was central to shareholder concerns at the shipbuilder's AGM today.

FIRB green light for Robe Mesa sale

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The Foreign Investment Review Board has waved through the Robe River Joint Venture's bid to acquire the Robe Mesa iron ore project from CZR Resources.

Libs vow FIRB whitelist, red tape overhaul

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The federal opposition says a Dutton government will overhaul the Foreign Investment Review Board, creating whitelist for investors from allied nations to access faster approvals.

One shareholder yet to divest Northern stake

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Rare earths junior Northern Minerals has announced one shareholder has yet to divest its shareholding in the company, following yesterday’s mandated sell-off deadline.

FIRB gives tick to Westgold deal

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Westgold has moved a step closer to its merger with Canadian-listed gold play Karora Resources, after its $1.2 billion deal was ticked off by the Foreign Investment Review Board.

Treasurer defends blocking Chinese minerals investment

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Treasurer Jim Chalmers has blocked a Chinese investment fund from increasing its stake in a rare earth company on national security grounds.

FIRB clears Crown, Rio deal flow

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Approval from the Foreign Investment Review Board means Rio can finalise its $825 million Rincon project buy, while Crown moves ahead with a proposed $8.9 billion Blackstone deal.

Firms want skilled migration cap lifted

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The Business Council is calling for the skilled migration cap to be lifted to 220,000 over the next two financial years to deal with acute worker shortages.

Rio Tinto plugs into Argentina for lithium

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Rio Tinto has signed a deal to buy the Rincon lithium project in Argentina for $US825 million ($A1.2 billion) as majors eye a supply crunch later this decade.

Green light for $130m Thunderbird deal

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YGH Australia Investment's proposal to acquire 50 per cent of Sheffield Resources' Thunderbird Mineral Sands project is one step closer, following positive advice from Foreign Investment Review Board.

Cardinal bidder gets FIRB approval

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Shandong Gold has received federal government approval to proceed with its takeover of Perth-based Cardinal Resources, despite increasing sensitivity around Chinese foreign investment.

China not the only game in town

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Free to read: With WA's exports to China approaching $100 billion annually, business leaders are considering how the state might create alternative opportunities in a volatile environment. Plus, click through for our podcast with Asian Engagement Minister Peter Tinley.

Vodafone, TPG merger gets FIRB nod

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The proposed merger between Vodafone Australia and TPG Telecom has received the green light from the Foreign Investment Review Board, taking it another step closer to completion.

AVZ in $16m raising

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AVZ Minerals will receive a $10.5 million investment from China-based Yibin Tianyi to progress its flagship lithium project in Central Africa, while also receiving commitments to raise $5.3 million.

Zijin proceeds with Phoenix bid

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Chinese company Zijin Mining Group has pressed ahead with its unsolicited takeover bid for Phoenix Gold, despite Evolution Mining's recent on-market acquisitions at a price 20 per cent above that which Zijin is offering.

All the way with China FTA

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The FTA with China will provide some exciting prospects for WA businesses.