The Nedlands property fund manager says it has not proceeded with recent major construction projects because build costs have been pushed too high.
Battery trains’ Pilbara debut pushed back
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The Pilbara’s iron ore miners have been left waiting longer than expected for their emissions-busting battery electric locomotives to arrive.
At Close of Business podcast December 20 2024
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Nadia Budihardjo and Claire Tyrrell discuss WA's large format retail sector.
Perenti books $185m worth of contracts
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Listed contractor Perenti has won $185 million worth of work from Roy Hill, Focus Minerals and Rox Resources through its underground mining and drilling divisions.
Flood forces Western Power office closure
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Flooding has closed Western Power’s Wellington Street office indefinitely, displacing workers as the utility prepares for a peak period across the state’s main electricity grid.
Australian shares plunge again, hitting 100-day low
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The ASX200 has dropped 1.2 per cent to finish the week down 2.8 per cent, its second-worst weekly performance of 2024.
Govt funds Collie magnesium plant
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The state government has poured in more funding towards Collie’s transition from coal-powered to green energy, as workers reportedly received bonuses over the upcoming station closures.
Goodbye may make MinRes a good buy
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OPINION: Chris Ellison’s mea culpa may not protect him from future criticism or prosecution, but it seems investors still have faith in Mineral Resources.
Trump’s tariffs to come at a cost
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OPINION:US tariffs on its neighbours could create opportunities for Australian produce amid likely market distruption.
ATCO builds Exmouth defence camp
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Early work is underway on a $660 million Department of Defence infrastructure program at Exmouth’s Learmonth airbase, with ATCO subcontracted to build an initial worker’s camp.
Labor ahead, but Lib donor surprise
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The WA Liberal Party has made more from donations this financial year than WA Labor, but levies and union fees have the latter’s coffers well ahead in the lead up to the state election.
VGW exits Nevada
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Laurence Escalante’s Virtual Gaming World will cease operations in Nevada from April next year, amid ongoing regulatory scrutiny across the US.
Wesfarmers to sell Coregas
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Wesfarmers will sell gas supplier Coregas to a subsidiary of Japanese conglomerate Nippon Sanso Holdings Corporation for $770 million, subject to ACCC and FIRB approval.
Mining export earnings in potential decline
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The country’s resource and energy export earnings are expected to drop to $372 billion in the 2024-25 financial year, the latest quarterly results show.
Conditions favour rise of big retail
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WA’s large-format retail sector is growing amid positive demographic and economic trends.
Peet inks $56m land deal
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Perth-headquartered property developer Peet has extended its reach on the eastern seaboard after acquiring a large tract of residential land for $56 million.
Strike action imminent at Fremantle port
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Work at the state's biggest container port is expected to slow to a crawl in the coming weeks after Qube Ports customers were told a series of industrial actions would start from tonight.
Aussie dollar, shares take a hit as US rate hopes fade
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Aussie dollar, shares take a hit as US rate hopes fade
Aldi’s Nedlands plan in limbo
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A proposal to build an Aldi in Nedlands is in limbo after a development assessment panel was unable to decide on the $12 million plan.
Emirates serves up a treat with the A350
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Emirates has taken delivery of its first of 65 Airbus A350-900s, the aircraft that will replace early model Boeing 777s, as the Dubai-based airline targets growth.
At Close of Business podcast December 19 2024
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Sam Jones and Tom Zaunmayr discuss Bankwest's transition to the Commonwealth Bank banner.
No mucking around at Tomfoolery
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REVIEW: It’s serious business producing value-for-money, easy-drinking wines for Australia’s long, hot summers.
Tetra Pak moves on Murray
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The Swedish firm and local manufacturer C4C Packaging will build a food and beverage packaging facility south of Perth.
GenusPlus, Lycopodium notch contracts
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Belmont-based contractor GenusPlus has notched a $140 million contract from an east coast electricity distributor for work on a renewable energy project in New South Wales.
Reserve power benchmark to climb 57pc
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The Economic Regulation Authority has ticked off a 57 per cent increase to the benchmark reserve capacity price for electricity producers supporting the state’s main grid from 2027.
Orthocell seeks FDA nod
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Orthocell has submitted its application for US Food and Drug Administration approval for its Remplir nerve regeneration product, marking another moment in a year full of milestones.
Barings buys Joondalup Square
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The $74 million deal represents the biggest large format retail transaction nationally this year.
Patriot gains Volkswagen backing
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Volkswagen will spend $77 million to acquire a stake in Ken Brinsden-steered Patriot Battery Metals and become the Canadian lithium aspirant’s first customer.
South32 sweats on election unrest
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The miner has warned curtailment of aluminium production in Mozambique is possible as civil unrest hampers operations.
Woodside extends Dockers sponsorship
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Woodside Energy’s partnership with the Fremantle Dockers has been extended until the end of 2027, building on a 15-year relationship between the two organisations.
Westbridge sells Daglish land
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The Subiaco-based fund manager has sold an 809sqm block to a local developer for $2.13 million.
Albo's $150m EV subsidy
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The federal government will offer low interest loans for workers earning less than $100,000 per year to buy electric vehicles, under a new $150 million program.
Vault in $80m Leonora expansion
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Vault Minerals will spend $80 million to expand the processing facility at its King of the Hills mine near Leonora by 20 per cent, to more than 6 million tonnes of ore per annum.
New shopping centre for Port Hedland
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A Good Grocer IGA, Hungry Jacks and new child care centre could move into South Hedland by late 2026 if the plans are approved.
Unwanted record on rates cuts deep
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The heat’s building over interest rates as Australia leads all comers in the race no-one wants to win.
Stocks dive after US Fed cuts rates by 25 basis points
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Fed cuts rates by 25 bps, as expected; Crypto stocks fall on Powell comments; Indexes down: Dow 2.58 per cent, S&P 500 2.95 per cent, Nasdaq 3.56 per cent.
McGrath banks on relationships and innovation
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Gary McGrath has overseen a significant restructuring of Bankwest’s operations in his role at CBA.
Consent for Tassal’s WA barra farm
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Seafood giant Tassal has won traditional owner support for its barramundi farm expansion plan off the Kimberley coast.
Woodside, Chevron to swap WA assets
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Woodside and Chevron have agreed to an asset swap which will shake up gas project ownership in WA, with parts of the North West Shelf and Wheatstone projects and $644 million to change hands.
Transport hits $700m Aboriginal work target
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The state government has spent $716 million with Aboriginal businesses on transport contracts in just over three years, hitting a procurement target two years ahead of deadline.
At Close of Business Podcast December 18 2024
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Mark Pownall and Nadia Budihardjo discuss WA dynasties.
Perth’s industrial vacancy lowest in nation
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The city’s industrial vacancy rates have increased by 0.2 per cent to 1.4 per cent, CBRE data shows.
Carey backs Cole’s WAPC gig
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State Planning Minister John Carey has thrown the weight of his support behind the recently announced WA Planning Commission chair Emma Cole, after scrutiny over her appointment.
ANALYSIS: Could more of MinRes be sold?
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ANALYSIS: As Mineral Resources prepares for a future without its founder, Gina Rinehart's Hancock Prospecting has moved on its gas business and countercyclically acted on an appetite for lithium.
Iceni, Gold Road in $44m deal
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Mid-tier goldminer Gold Road Resources has struck a $44 million deal with ASX-listed explorer Iceni Gold over its early-stage project in Goldfields.
BHP served with class action
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Mining heavyweight BHP has told the market it’s been served with a class action over allegations of sexual harassment and discrimination at both its and Rio Tinto’s workplaces.
Otranto touts green iron to ease budget woes
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Falling commodity prices and growing budget deficits should provide the impetus for Australia to build a green iron industry, according to the boss of Fortescue Metals.
Australian shares flat as focus turns to Fed meeting
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The ASX200 closed little changed as US central bankers began deliberating on whether to cut interest rates one final time in 2024.
Solar project win for Perth-based Monford
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East Perth-based Monford Group has been appointed principal engineering, procurement and construction contractor at the $250 million Glenellan solar farm in New South Wales.
Tapping into campus talent
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Universities’ $750 million spend on consultancies and professional services last year has raised questions.
