Category Archives: News

[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

[ad_1] Long time Bradken CEO and MD Brian Hodges will step down from the company in a difficult period as it fends off predators and struggles to cope with a moribund mining market. Hodges spent 18 years at Bradken, taking the company from a modest domestic foundry business to a global consumables and capital products

[ad_1] It’s all happening in the milk sector. Another big takeover is in the offing, while rich listers like Gina Rinehart and Gerry Harvey buy in. Meanwhile, a financial firm gives Australia’s dairy sector the thumbs up. Last year a ferocious takeover battle saw Canada’s Saputo eventually emerge triumphant in a $500m takeover battle with

[ad_1] In the aftermath of the sudden collapse of a Cement Australia silo at Osborne near Port Adelaide, ABHR has sought comment from academics and engineers on the causes of such events. Cement Australia’s silo, containing concrete powder, collapsed about 10 days ago. According to the ABC and Advertiser, emergency services were called to a

[ad_1] It’s been a rough old trot for Peabody Energy, the world’s largest private-sector coal company, with its share price falling from around US$72 at the peak of the mining boom to US$2.70 today. In response, the company is shedding assets and staff, and, according to the Australian Financial Review’s StreetTalk column, the US-headquartered company