Latest Headlines

Cape Lambert Iron Ore has officially launched its plans to spin out the Lady Annie copper mine into new company Q Copper, which will soon open its $214 million initial public offer.

Miner Perilya has launched a $55 million fully underwritten rights issue with funds to be applied towards organic growth and deliver projects that will complement its existing operations.

The battle for the hearts and minds of Great Southern scheme investors has escalated with Gordon Martin returning to the table with a revised offer and a new partner, Nick Tana.

Matrix Composites and Engineering made a strong debut on the local stock market today, with its shares closing at a 36 per cent premium to its issue price.

Former Environmental Protection Authority chairman Barry Carbon has today been appointed to the board of Bauxite Resources, which is currently awaiting approval for its bauxite operation from the Department of Environment.

A revitalised Macmin Silver will list on the local stock market tomorrow as Alcyone Resources, a year after it fell into administration on the back of the global financial crisis.

Subiaco-based Allied Gold has revealed plans to raise up to $C155 million ($A158 million), its second major capital raising for the calendar year.

The expansive property investment group built up by West Perth-based SAS Global has collapsed, with four more entities being placed in administration this week following the recent failure of SAS Global Baldivis.

Norwegian aluminium company Norsk Hydro has abandoned its bauxite mining plans in the Mitchell Plateau region to the north Kimberley, giving back its mining leases to the state government.

A growing volume of WA contracts has prompted engineering and infrastructure company AJ Lucas to open a Perth office as it today secured a $95 million contract for works at the Gorgon gas project.

Galaxy Resources has received environmental approval for its Jiangsu lithium carbonate plant in China, which is expected to have a small environmental footprint.

The state government has raised $11 million from the auction of 10 government houses in affluent suburbs over the past three months.

West Perth-based Bathurst Resources will reverse its acquisition of a United States coal miner after a dispute arose over the original agreements.

Toro Energy could potentially expand the uranium footprint at its Wiluna project in Western Australia after it acquired two nearby uranium tenements from Liberty Resources for $1 million.

West Perth-based Sipa Resources has agreed to sell a small exploration licence in the Mid West to Sinosteel Midwest Corporation for $450,000.

Leighton Holdings, in joint venture with Italian company Eni, has secured a $900 million contract to develop the liquefied natural gas jetty and marine structures for the Gorgon project.

A Bibra Lake-based transport company has been fined $30,000 in relation to a workplace incident where a mechanic had his legs crushed under the wheels of a truck trailer driven by one of the directors of the company.

A substantial fall in the state's unemployment rate to 5 per cent has sparked concern that WA is not ready for the next wave of growth, with a business lobby group projecting a shortfall of 150,000 workers within seven years.

THERE was a huge sigh of relief in political circles last week when Thai oil company PTTEP finally brought under control a leak in the Timor Sea.

WHEN I spoke in April about the ‘road to recovery’, the issue was how to get onto that road.

As Western Australia’s economic recovery gathers steam, supply-side constraints are shaping up as a major issue.

Two different financial plays in the past week share a similar view of the future.

On company boards as in politics, it’s about getting the balance right.

Managed investment schemes face tough times after the latest round of collapses.

There’s little to separate the nation’s major political parties.

NO doubt many Business Class readers would have had a flutter last week on the Melbourne Cup.

HAVING maintained strong results despite the economic downturn, accommodation providers in the state’s north-west face a fresh problem, with a potential oversupply of new hotels and increased room availability.

I CONSIDER myself to be a devoted Western Australian.Perth born-and-bred, I thought I’d seen most of what this glorious state has to offer in terms of tourism experiences.

IS fancying a French really considered cheating? Ive had a bad week.

Favourite holiday destination? Most recent holidays tend to be front of mind and we recently holidayed in the ‘top end’.

INVESTORS in the SAS Global group’s property companies face a dire outlook after at least one company was placed in administration last week and two others were forced to cancel restructuring plans.

HERITAGE-LISTED residential properties have proved to be just as valuable as an asset as similar non-listed properties, according to new research undertaken by the Australian Property Institute.