Business News

Australasian Resources has appointed Louisa Martino Youens as company secretary, following the resignation of Grant Ryan.

Shares in gold-focused Kingwest Resources began trading on the ASX today, after the company raised $5 million via an initial public offering.

Poseidon Nickel has announced a $74.6 million capital raising, backed by Andrew Forrest’s Squadron Resources, days after US group Black Mountain Metals pulled out of a $66 million takeover proposal.

Automotive Holdings Group has reported a decline in operating profit for the 2018 financial year, citing weakening demand in Western Australia despite positive economic indicators.

Dr Samantha Ravich has stepped down as a member of DroneShield’s advisory board following her appointment by President Donald Trump to become vice chair of the President’s Intelligence advisory boa

Kerman Contracting has won a $23.5 million contract with Talison Lithium to build a bulk storage facility at the inner harbour of the Port of Bunbury.

Decmil Group has announced a capital raising for up to $50 million to allow the company to tender for larger infrastructure and defence contracts.

Peter Scott will join inaugural member Curtis Rodgers as member of FBR’s advisory committee.

Perth-based GR Engineering Services has recorded a slight decline in net profit for the 2018 financial year due to two settlement claims, despite an uptick in the group’s revenue.

Advanced materials company, First Graphene, has apppointed Neil Armstrong as chemical & process engineer.

Pacific Energy has added a 17-megawatt power station to its recent contract at Mineral Resources' Wodgina lithium project, taking the total contract value to $30 million.

Perth-based Canyon Resources has raised $5 million to fund exploration at the company’s Minim Martap bauxite project in Cameroon.

International real estate services company Cushman & Wakefield has been appointed as facility manager of the new Woodside headquarters in Perth, with former Knight Frank director Bret Madden brought on to lead the on-site team.

GR Engineering Services has been awarded a $17.9 million design and construction contract for a backfill plant at gold miner Saracen Mineral Holdings’ Carosue Dam operations near Kalgoorlie.

Mining giant BHP has posted a 37 per cent drop in full-year year net profit after taking heavy writedowns on its US shale assets, while iron ore production lifted slightly to 275 million tonnes.

Daniel Moore has resigned as non-executive director of iCollege.

Newly-listed Wide Open Agriculture has signed a management agreement with a Netherlands-based investor and a group of Western Australian farmers in relation to a $4.3 million property in the Wheatbelt.

Fortescue Metals Group has posted a 58 per cent drop in annual profit for the 2018 financial year compared with the previous period, but has increased its dividend payout ratio to shareholders.

Gold miner Gascoyne Resources has announced a $19 million equity placement, along with a share purchase plan to raise up to $5 million.

Linton Putland has been appointed non-executive director of Breaker Resources.

The state government is investigating the death of a haul truck driver at Rio Tinto’s Paraburdoo mine, which occurred last night.

Shares in Sultan Resources began trading on the ASX today, after the company raised $4.8 million via an initial public offering.

The Corruption and Crime Commission has recommended criminal charges be laid against three former public servants and at least 10 private sector contractors after highlighting corrupt practices at the North Metropolitan Health Service.

Australian Potash has appointed experienced mining industry executive and director Jim Walker as non-executive chair.

Wesfarmers has suffered a 58 per cent drop in full-year net profit after taking more than $1.3 billion in costs and losses on its disastrous Bunnings UK exit and a $300 million write-down on underperforming Target, while also announcing leadership changes at its department stores.

Dr Po-Tao Wei has been appointed executive director of Black Star Petroleum.

Copper-focused Tempus Resources is set to list on the ASX tomorrow, after the company raised $5 million via an initial public offering.

Resources logistics company Bis has appointed former Broadspectrum chief executive Graeme Hunt as its new chairman to replace the retiring Charles Lenegan, while non-executive director John Beevers is also retiring.

A joint venture between Minderoo Group-owned Squadron Energy and Goshawk Energy has been awarded a series of petroleum tenements in the Canning Basin.

Matt Smith has been appointed to a newly created role of chief commercial officer at Aspermont, a leading media services provider to the global mining and resources industry.

A joint venture between Perth companies Ausdrill and Barminco has been awarded a $US160 million ($220 million) mining services contract for Roxgold in West Africa.