News Articles for Rivet Group

Receivers from FTI Consulting have been called in to manage Rivet Mining Services, the Perth-based subsidiary of contracting business Rivet Group.

A privately-owned mining group owned by a trio of high-profile contractors has gone into voluntary administration owing creditors more than $100 million.

Perth-based Bis has acquired mining services company UGM, while SMS Mining Services has merged with haulage provider Rivet Group.

SMS Mining Services has secured contracts at two planned gold projects in Western Australia worth a combined $640 million.

Struggling gold producer Eastern Goldfields has announced a $75 million recapitalisation deal and board overhaul led by private mining services company Adaman Resources.

Bis Industries, one of the major transport players in Western Australia, will come under new ownership after a $1 billion debt-for-equity swap deal was struck with its major lenders.

Australian Road Express – a Perth-based transport subsidiary of Rivet Group (formerly known as McAleese Group) – has been put into the hands of receivers, leaving 180 jobs at risk.

SPECIAL REPORT - MINING SERVICES: Higher commodity prices and investment to maintain iron ore volumes could help lift mining contractors out of the doldrums after several tough years. Click through to see this and links to four other feature stories.

The transport and logistics subsidiary of Perth-based, family-owned CFC Group has acquired McAleese Group's entire heavy haulage fleet for an undisclosed sum.

Embattled mining services business McAleese Group has gone into voluntary administration after failing to secure a lifeline from Hong Kong-based debt trader SC Lowy.

Shares in miner Atlas Iron were up 10 per cent today after the company reported cash generation of $30 million after interest and profit sharing for the June quarter.

SPECIAL REPORT: WA's economic slowdown hasn't led to the dramatic rise in insolvencies many had expected, according to leading industry representatives.

Transport and logistics company McAleese Group has announced a recapitalisation deal with its financiers and a Hong Kong investments group, which includes de-listing from the ASX and undertaking a $26 million capital raising.

Special Report: Falling commodity prices have led some mining contractors to circle the wagons, but others are cautiously targeting opportunities.

Transport and logistics business McAleese Group has flagged an impairment of up to $55 million in its half-year accounts, while remaining quiet on speculation of a recapitalisation plan.

The state's trucking and logistics sector's consolidation has continued after a busy 2015.

Shares in Atlas Iron surged on news it had lowered its cash costs in July by $11 per wet metric tonne, with the iron ore miner flagging more cash flow in August.

A Singaporean supplier of cranes and heavy machinery has emerged as a substantial shareholder of mining services player McAleese Group, spending over $3 million to acquire more than 9 per cent of the company.

Atlas Iron has reopened its Mount Webber iron ore mine, marking the recommencement of mining at all three of the company's Pilbara operations after shutting them less than three months ago.

Atlas Iron founder David Flanagan has resumed as the company's managing director, as the iron ore miner announced that its ambitious $180 million capital raising would be priced at just 5 cents per

Atlas Iron plans to resume production at its Mount Webber mine in the Pilbara in July after negotiating a deal with BGC Contracting that is markedly different to earlier agreements with contractors at its two other mines.

Atlas Iron plans to resume production at its two closed iron ore mines after striking an innovative profit sharing deal with its contractors, but it is also seeking to complete a big capital raising to ensure its longer-term viability.

Road haulage business McAleese Group has flagged a number of impairments and a significant hit to its earnings as it prepares to recommence haulage services at Atlas Iron's Abydos and Wodgina mines this month.

Contractors Maca, Mineral Resources and Qube Holdings have downplayed the impact of Atlas Iron's decision to halt iron ore production over the coming month, while transport contractor McAleese Group is still evaluating the likely impact.

Atlas Iron has announced it will halt all production at its three Pilbara iron ore mines over the next month, a move that is likely to result in the loss of more than 500 jobs.

Atlas Iron has launched an extensive review of its operations, finances and possible asset sale opportunities in response to steep falls in the iron ore price.

Not long after Melbourne-based Blue Tongue was launched in 2001 its founder, Tully Young, recognised that Western Australia had a transport industry skills shortage – so he moved himself and almost half his business to Perth.

Our annual Transport and Logistics feature discusses the role of a maritime logistics officer, how a business caters to a skills shortage in the transport industry, the tier 3 rail lines, training for truck drivers in the Pilbara, and the recent completion of the Fremantle harbour rail upgrade.

Driving up the Great Northern Hwy from Midland to Port Hedland, you can't help but marvel at the number of trucks on the road – and be concerned about what lies ahead for wheatbelt communities after the closure of the ‘tier 3' rail lines.

McAleese Resources has announced it will double its road haulage for Atlas Iron's Mt Webber mine.

Listed transport and logistics company McAleese Group has announced plans to acquire Forrestfield-based WA Freight Group for $15.4 million.

McAleese Group has retained a $65 million ore haulage contract at Norton Gold Fields' Kalgoorlie gold operations after a competitive tender process.

McAleese Resources, a subsidiary of McAleese Group, has been awarded a four year, $250 million iron ore haulage contract for Atlas Iron's Mt Webber mine in the Pilbara.