News

[ad_1] Australia’s steelmaking champions face hard decisions. An activist investment firm is urging BlueScope to consider the unthinkable: closing its Port Kembla steelworks. Meanwhile, Arrium might be forced to sell its jewel-in-the-crown consumables business. This week Arrium announced the latest in a series of reviews and write-downs as it struggles to cope with low iron

[ad_1] It’s lawyers at nine paces as Wiggins Island Coal Export Terminal (WICET) and engineering group Monadelphous take to the courts in a bid to resolve disputes over construction contracts for parts of Queensland’s newest coal terminal. Monadelphous holds a 50% interest in MMM, an unincorporated joint venture between itself and Malaysia’s Muhibbah construction. MMM

[ad_1] It was a disappointing offshore session for iron ore with the commodity falling for the third straight session, down 3.7% to US$62.10. According to Business Spectator, iron ore for immediate delivery to the port of Tianjin in China had fallen from its previous close of US$64.50. At issue were “ongoing concerns about the strength

[ad_1] Banks and investors holding debt in off-road load and haul specialist Bis Industries are reported to be seeking to offload their debt at 85c in the dollar. According to The Australian’s DataRoom column, giant Japanese lender Mizuho called for bids for its debts at 85c in the dollar but was “met with an anaemic

[ad_1] Plastic packaging specialist Pact Group is acquiring Jalco Group, a supplier of outsourced manufacturing and filling in the non-food fast moving consumer goods (FMCG) sector. Jalco operates across six sites in NSW and comprises a number of divisions, the largest two being Homecare and Personal Care. Trailing annual sales for Jalco are approximately $165m.

[ad_1] Andrew Forrest has renewed his campaign for an inquiry into Australian iron ore production, as Chinese bidders line up for a share of his mining business, Fortescue Metals Group. The Fortescue founder and chairman wrote a lengthy opinion piece in The Australian this morning, after his calls for a Parliamentary Inquiry into the iron

[ad_1] While headlines point to a potential bigger dividend from Aurizon in coming months, the rail operator has cancelled enterprise agreements with roughly 3500 workers. The Queensland-based operator is in the middle of a prolonged bargaining saga with a number of unions. 12 expired agreements are still in dispute. Under the Fair Work Act, expired

[ad_1] BHP Billiton’s petroleum and potash chief Tim Cutt has reportedly told The Australian the mining giant will stick to plans for the Jansen project in Canada’s Saskatchewan potash basin, despite the project’s long lead-time. Cutt reportedly told the NewsCorp paper that the $19.2bn project was one of 2003-2007 chief executive Chip Goodyear’s better investments,

[ad_1] The Federal Court has heard how two members of the Obeid family and a trio of mining executives allegedly rigged the tender process for two Hunter Valley coal tenements in 2009. Claims made by the ACCC allege cartel conduct between Moses and Paul Obeid, sons of disgraced former MP Eddie Obeid, and three executives

[ad_1] Consulting and services firm WorleyParsons has announced a strategy to change its business model in the wake of slumping commodity markets. The company told an investor day late last week that it would focus on five strategic themes going forward: to build a world class consulting business and “dominate the early project phases”; to