Yearly Archives: 2015

[ad_1] Australia’s iron ore miners have taken a hammering on the stock market, as the commodity’s market price returned to near-record lows this week. Rio Tinto opened at $51.35 a share this morning, its lowest opening price since June 2013. Fortescue Metals Group opened yesterday at $1.71 a share, its lowest opening price since January

[ad_1] The chairmen of Australia’s two biggest container ports have both gone on record this week, suggesting Brookfield’s $9bn bid for Asciano could trigger a bevy of infrastructure privatisation moves from state and federal governments. Quoted in the AFR on Tuesday, Port of Melbourne chairman Mark Birrell and NSW Ports chairman Paul McClintock agreed the

[ad_1] Brisbane-based engineer Ausenco has announced a strategic alliance with Spanish multinational construction firm Duro Felguera, with the two companies looking to work together towards global EPC opportunities. A classic victim of the mining boom-bust cycle, Ausenco was worth $16.30 a share at its peak in 2008. After steady declines in the last 5 years,

[ad_1] Reports of job cuts at several engineering firms are thought to suggest the downturn in key sectors is being compounded by a lack of new infrastructure spending. Aurecon has reportedly made 300 people redundant – representing 4% of its global workforce – and 180 of those jobs are said to have been based in

[ad_1] Mick Davis, who grew Xstrata from a $500m stripling in 2001 to a $46bn behemoth by 2013, is looking to buy Rio Tinto’s Hunter Valley thermal coal mines. Mick Davis formed private equity vehicle X2 two years ago and has US$5.6bn in financial commitments from his backers burning a hole in his pocket. Speculation

[ad_1] Mortgage re-possessions are in full swing in Port Hedland as the mining boom moves from the construction to production phases. According to an article in the Australian Financial Review (AFR), distressed sales abound with older homes and units faring worst. In an example of the downturn, the paper cited a property on a 928

[ad_1] As BHP Billiton re-jigs management responsibility for its Jansen potash project in Canada, arch competitor Potash Corp of Canada is proposing to buy a German rival. Despite sinking US$3.6bn into its under-construction Jansen project in Saskatchewan, Canada, BHP Billiton still hasn’t decided whether the fertiliser product will form its 5th pillar. Back in 2010,

[ad_1] Patrick ports and Pacific National rail haul parent Asciano has confirmed press rumours of a takeover bid. The Australian Financial Review’s StreetTalk column this morning said that Asciano was talking to Canada’s Brookfield Asset Management about the asset manager taking a stake in the Patrick container ports business. The AFR also said that Asciano

[ad_1] Last week, ABHR looked at Cement Australia’s collapsed silo at Osborne near Port Adelaide. Two other cement silo collapses this year have had far deadlier results. Plus, more expert commentary on why silos fail. Bar a beetroot red face from embarrassment, Cement Australia got away lightly from its Port Adelaide silo collapse. While the

[ad_1] Labour hire company Skilled Group has agreed to be taken over by Programmed Maintenance Services. Programmed will acquire Skilled by way of a scheme of arrangement which will see the former’s shareholders receive 0.55 Programmed shares plus $0.25 cash per Skilled share, resulting in Skilled shareholders owning 52.4% of the combined entity. The offer