Business News

New DG of AG office

Copper explorer MOD Resources has released a scoping study for an open-pit mine at its T3 project in Botswana, which has an estimated development cost of $US135 million ($A181.7 million).

Perth-based land developer Peet has sold a parcel of land in Victoria for $30.5 million, but it doesn’t expect to receive any proceeds from the deal for nearly a year.

Bunnings’ long-serving chief executive John Gillam has announced he is stepping down from the role, but will continue to serve the business as an adviser.

A perfect storm has pushed Australia's economy halfway to recession, but economists are optimistic about a year-end rebound.

Chris Thoroughgood has resigned as alternate director of East Energy Resources.

Vocus Communications appears set to deliver the Perth-to-Singapore subsea telecommunications cable after inking a construction agreement with French company Alcatel Submarine Networks.

The fourth-largest cruise ship in the world has made its Australian debut in Fremantle, where it will be docked until tomorrow afternoon.

Social media technology company HearMeOut has closed below its offer price on its first day on the ASX, after completing a $6.5 million initial public offering.

The Australian Securities and Investments Commission has permanently banned a former Perth-based finance broker after finding he had engaged in misleading conduct.

Corporate finance and mining executive Jonathan Shellabear has been appointed non-executive director of Capricorn Metals.

Oil and gas play Tap Oil has confirmed James Menzies as its new chairman, after he joined the board in May as a director and was earmarked as Doug Bailey’s successor.

Perth mining executive Vanessa Guthrie has announced her resignation as managing director of uranium-focused Toro Energy.

Yan Zhao has resigned from the board of African Energy Resources. Mr Zhao was alternative director to Ian M Hume.Global Health has appointed Pattie Beerens as non-executive director.

The federal government is on the brink of striking a deal with Western Australia to let the state run the National Disability Insurance Scheme locally.

Perth-based financial services provider Pioneer Credit has signed a $100 million debt facility with Bankwest and Westpac as it seeks to continue growing its debt portfolio.

Kent Hunter, founding director of Cazaly Resources, has resigned as non-executive director. Terry Gardiner has been appointed as non-executive director.

A particularly stressful week for farmers has come to a relieving end with the Greens today supporting the federal government’s proposed 15 per cent backpacker tax after voting against it yesterday.

The state government has announced a $30 million upgrade of Margaret River Senior High School to boost its capacity to 1,200 students.

Ferry operator Rottnest Express has partnered with Westpac to trial the use of a payment card that's popular with Chinese tourists, for online payment for its services to the tourist hotspot.

Mineral sands minder Iluka Resources says it has agreed with joint venture partner Vale to end plans to develop a titanium project in Brazil after deeming it unfeasible.

Civil and mining contractor NRW Holdings has announced plans to buy the east coast operations of failed mining services company Hughes Drilling, with the acquisition price undisclosed.

Debt-troubled Paladin Energy has started discussions with some of its stakeholders and convertible bond holders about the looming deadline for a $US212 million repayment, as a cloud hovers over the company’s planned sale of a stake in its Langer Heinrich uranium mine to meet those repayments.

Martin Rogers has resigned as executive chair and director of Actinogen Medical. Mr  Rogers has been chairman since Actinogen Medical’s inception in late 2014.

The federal government’s plan for a 15 per cent rate backpacker tax has been knocked down in the Senate, with the state’s farming body left furious and desperate for a solution.

Seventeen Perth-based startup organisations have been selected to participate in the KPMG Energise and OzAPP Awards accelerator programs to help grow their businesses.

Mel Ashton has retired as director and chair of Empired. Current director Richard Bevan will become chair, and Thomas Stianos has been appointed as director.

Fortescue Metals Group has recognised the family of chairman Andrew Forrest by naming four new very large ore carrier (VLOC) vessels after his wife and children.

Former MZI Resources managing director Trevor Matthews has been named chief executive of local graphite hopeful Volt Resources.

Western Areas has locked in its second nickel offtake agreement in as many days, announcing today a deal with BHP Billiton subsidiary Nickel West for product from its Forrestania nickel mine.

Perth-based oil and gas explorer TTE Petroleum has recruited former Liquefied Natural Gas boss Maurice Brand as part of a board restructure that includes the resignation of current chair Darren Levy and the movement of chief executive Paul Garner to a non-executive role.