[ad_1] Its a dark and stormy time for McAleese. Photo: Shutterstock Embattled transport group McAleese has suspended trading on the ASX this week, and deferred the release of its half-year financial statement, as the company continues to undergo a “strategic process” with advisor Moelis & Company. McAleese, which floated at $1.47 in 2013, closed at
Read More[ad_1] Iron road boss Andrew Stocks. Photo: Iron Road Prospective iron ore miner Iron Road and agribusiness Emerald Grain have announced a partnership which will help deliver a combined iron ore and grain railway and port operation at Cape Hardy on South Australia’s Eyre Peninsula. Iron Road wants to set up an iron ore mine
Read More[ad_1] GrainCorp will back the proposed transition of co-operative grain handling business CBH to a commercial structure, and a subsequent listing on the ASX. In a move proposed last week by Australian Grains Champion (AGC), CBH members could garner up to $1bn in cash, and valuable, tradeable shares through a float process. “This is a considerable
Read More[ad_1] Ship loading iron ore at Port Hedland. Photo: Fortescue Metals Group Iron ore has closed at more than US$50 a tonne for the first time since October 27 this week, after a slight slowdown in iron ore production was met with increased output in the Chinese steelmaking sector. The commodity, which is vastly important to
Read More[ad_1] The North Star mill, which is now 100% owned by BlueScope. Graphic: BlueScope Significant cost cutting measures and a favourable Aussie Dollar have led BlueScope Steel to a net profit after tax of more than $200m in the first half, a five-year high. BlueScope’s NPAT figure of $200.1m, announced on Monday, is a $107.4m
Read More[ad_1] BHP’s WA iron ore president will leave the business. Photo: Laing O’Rourke BHP Billiton will conduct a major shake-up to its leadership group after it announced a US$5.7bn (A$7.8bn) loss in the first half of the 2015/16 financial year. The mega-miner announced the significant after-tax loss off the back of a revenue figure of
Read More[ad_1] Struggling steel and mining consumables manufacturer Arrium has struck a more than billion-dollar recapitalisation deal with American private equity firm Blackstone, in a move it hopes will help it manage its growing debt pile “in a low iron ore price environment”. The South Australian steel business announced on Monday it had secured a deal whereby
Read More[ad_1] Pacific National container at Chullora. Photo: Cameron Boggs In a new twist to the saga of a prospective foreign acquisition of Australian ports and rail heavyweight Asciano, competing parties Qube and Brookfield have announced talks to form a joint takeover bid. Qube, which has held the high ground over Brookfield since Asciano had an $88 million change of
Read More[ad_1] Prasad Srinivasamurthy, head of Brambles’ new Silicon Valley digital offshoot. Charles Macdonald – Sydney February 23, 2016 Keeping track of the location and condition of its 250 million pallets is a monumental challenge for Brambles. Its opening of a Silicon Valley office and hiring of a software expert to run it suggests that the
Read More[ad_1] Asciano chief executive John Mullen. Photo: Greg Dickins Australian port and rail giant Asciano will pay an $88 million break fee to back out of a takeover bid from Canadian infrastructure fund Brookfield, so it can fully support a rival bid from Qube Holdings. Asciano had recommended Brookfield’s bid over Qube’s counter-offer for several
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