Business News

West Africa-focused gold miner Perseus Mining has locked in $US60 million of debt finance with Macquarie Bank to fund ongoing work at its Sissingue and Edikan mines.

Seven West Mediatoday announced the retirement of Chris Wharton as chief executive officer of Seven West Media WA, several months after he left the office on extended leave.

Nicholas Halliday has joined ATC Alloys as non-executive director.Gary Lethridge has been appointed non-executive chair of Helix Resources.

Fortescue Metals Group has risen into the ranks of the top 50 most valuable companies on the Australian share market thanks to soaring iron ore prices which have nearly quadrupled the miner's half-year profit and stoked investor demand.

Africa-focused Tiger Resources is in talks with its shareholders and lenders concerning its depleting cash balance, as repairs to infrastructure at its Kipoi copper project will hinder production for the month.

Perth-based explorer Platina Resources has tapped investors for $7 million to fund ongoing work at its Owendale scandium-cobalt-nickel-platinum project in NSW.

Perth-based explorer Kula Gold says it could save $US25 million, or 27 per cent, on the cost of building its Woodlark Island gold project in Papua New Guinea if done so in the current economic environment.

Perth-based Fleetwood Corporation has won an $8.7 million contract to build new educational program buildings at several custodial centres for the NSW government.

Kalgoorlie-based mining contractor Hampton Transport Services has won a contract for haulage work at Empire Resources’ Penny’s Find gold mine for an undisclosed sum.

Global Construction Services has received a $27.5 million contract for work on the first stage of Scentre Group’s Westfield Carousel shopping centre redevelopment.

Zhao Tong has been appointed non-executive director of Altura Mining.Tempo Australia has announced the retirement of non-executive director Philip Loots.

Macmahon Holdings’ second-largest shareholder, Forager Funds Management, has increased its stake in the Perth company by securing $10.6 million worth of shares.

Bunbury will host the state’s final for the Australia Post Regional Pitchfest accelerator program, which is offering $100,000 in prizes for the winners.

Woodside Petroleum executive Jeroen Buren has been named acting president of the Chamber of Minerals and Energy of Western Australia, filling the role left vacant by Brian Reilly, who has moved to Canada to take on a new role with Cameco.

Local entrepreneur Mark Lapins’ Quantify Technology has wrapped up its first day of trading on the ASX, after completing a reverse takeover of WHL Energy and raising $5 million from investors.

Junior explorer AVZ Minerals has become subject to Supreme Court action after a Mauritius-based private resources investment firm claimed ownership of a lithium deposit in the Democratic Republic of Congo, which AVZ said last month it would be acquiring a major stake in.

Dr Richard Hopkins has been appointed chief executive officer of PharmAust.Swapna Keskar has been appointed company secretary of CoAssets.

The Barnett government has seized on comments by Australia's competition chief Rod Sims that plans to privatise Western Australia's poles and wires utility, Western Power, would lead to lower prices, while Labor leader Mark McGowan has claimed a re-elected Liberal government would also sell Water Corporation. 

Listed communications and ICT services provider Inabox Group has grown its local presence with the acquisition of Perth-based Logic Communications for $1.5 million in cash.

Perth hotel prices fell by 11.5 per cent in 2016, with demand for lodgings continuing to cool along with Western Australia’s economy.

The Takeovers Panel has declined to look into construction giant CIMIC Group's claim that takeover target Macmahon Holdings' target statement was misleading and deceptive.

One of the three prime contractors undertaking the state government’s GovNext ICT infrastructure project has recruited Perth-based IT services provider Empired as a subcontractor under a $15 million deal.

BC Iron has appointed Jenny Bloom and Michael G Blakiston as non-executive directors.

Subiaco-based Lucapa Diamond Company has sold $9.1 million of alluvial diamonds from its Lulo operation in Angola, bringing its total sales from that site to more than $100 million.

WA Labor has demanded the Liberals guarantee a privatisation of Western Power won't lead to electricity price rises and release legislation on the deal, while the Liberals say prices will not be impacted because they are independently regulated.

Drivers will be able to turn left on red lights at 10 intersections across Perth under a trial announced by Liberal Transport Minister Bill Marmion if the party is re-elected next Saturday.

Alexium International has appointed former US Congresswoman, Karen Thurman, as non-executive director.

Mining services business Ausdrill has won a $70 million extension to its contract for work at Peabody Energy Corporation’s coal mines on the east coast.

Spanish-controlled CIMIC Group has stood its ground over its Macmahon Holdings takeover play, telling the market today it would not lift its offer price despite the target entering into a counter-agreement with an Indonesian miner.

Swift Networks has won a contract to provide its services to Shell at the energy giant’s Prelude LNG project in the state’s north-west for an undisclosed sum.

Top-tier Australian female managers earn $93,000 less than their male counterparts, according to a report released today analysing graduate positions up to senior level management roles.