Yesterday
Global Lithium delays AGM over foreign influence fears
Minority shareholder Leon Zhu denies his push to join the board is a “Chinese-led conspiracy” as the WA Supreme Court gives the FIRB almost 3 months to probe claims.
This Month
Resolute Mining to pay $250m to settle West Africa tax dispute
ASX-listed gold miner’s chief executive and two other staff remain held by Malian authorities after ransom-style shakedown.
MinRes flags role in related-party rent relief scheme
The beleaguered miner sought $158,000 repayment from companies linked to the daughter of billionaire founder Chris Ellison.
- Updated
Consumers lose taste for Australian beef giant’s wagyu
Global competition and a reluctance to buy pricey wagyu has sliced into Australian Agricultural Company’s profit.
GrainCorp profit dries up as weather and competition bite
Chief executive Robert Spurway says that crop variability in Australia and strong overseas production have dented earnings.
Orica profit jumps on demand for explosive technology
The chemicals and explosives maker boosted its margins by selling digital blasting technologies and premium products to miners.
MinRes mothballs Bald Hill mine as lithium collapse takes toll
About 300 jobs are at risk after Mineral Resources became the latest producer to fall victim to the dive in prices for the battery metal.
- Updated
MinRes admits it failed to disclose related-party transactions
The West Australian miner says it cannot say why it did not tell shareholders, claiming the board would be “speculating” if it tried to give a reason.
Paladin cuts ‘ambitious’ uranium production targets
Criticism that the West Australian miner had been overly optimistic in its expectations is ‘fair comment’, says chief executive Ian Purdy.
Resolute Mining loses $500m after junta detains CEO in West Africa
Tax and contract dispute with authorities in Mali wipes $468 million from Australian gold miner’s market value
Global Lithium alleges Chinese investor wants to seize control
The Chris Ellison-backed explorer is trying to call off its annual meeting, and has appealed to FIRB. It says a minority shareholder is trying to take over.
Moody’s downgrades MinRes as big investors demand board overhaul
The credit ratings agency has cut the lithium and iron ore miner to negative, citing the “negative implications” of its governance issues.
Woodside acting on Scarborough gas emissions
The oil and gas producer has made investments to reduce emissions at the Scarborough project, and is examining bigger ones, including carbon capture.
- Updated
Brokers warn that Chris Ellison’s long exit clouds MinRes’ share price
One analyst at the Bank of America went so far as to say the big discount in the miner’s valuation made it “vulnerable to M&A or potentially a take private”.
- Updated
- Mining
MinRes board faces investor wrath for ousting Ellison
Chris Ellison will depart within 18 months after the board found he inflicted “significant reputational impact” by using company resources for personal benefit.
- Updated
October
Gina Rinehart emerges as gas major as Hancock posts $5.6b profit
The country’s richest person’s private vehicle, Hancock Prospecting, boosted earnings as it shipped more iron ore from its big West Australian mines.
- Updated
- Shopping
Don’t play politics with big business, warns Wesfarmers chairman
The prominent businessman said politicians should acknowledge that large companies are a “vital part of the economy” and “generate enormous benefits”.
Lynas Rare Earths cuts production as prices languish
Lynas Rare Earths has posted lower quarterly revenue and cut production as demand for electric vehicles slows.
Roy Hill’s record year provides Rinehart with $2.8b payday
The iron ore producer almost tripled its dividend, translating to a big pay day for Australia’s richest person, Gina Rinehart.
MinRes aware of claims against its billionaire founder for two years
The diversified miner has been investigating claims against its managing director Chris Ellison. It made the disclosure after questions from the ASX this week.