Australian miners brace for fallout after Guinea coup

Original article by Peter Ker
The Australian Financial Review – Page: 14 & 19 : 7-Sep-21

Alcoa of Australia has advised that it is monitoring the situation in Guinea, amid reports of a coup in the West African nation. Alumina, Alcoa and Rio Tinto have bauxite mining interests in Guinea, while Rio has two iron ore mining leases. Merriden Varrall from KPMG has warned of growing geopolitical stability in many nations, and that West African nations are becoming increasingly vulnerable to terrorism. However, Perseus Mining MD Jeff Quartermain says not all nations in the region are beset with problems, with Perseus operating gold mines in Ghana and Cote d’Ivoire. He notes that it has enjoyed a record year on the back of its operations in the two countries.

CORPORATES
ALCOA OF AUSTRALIA LIMITED, ALCOA INCORPORATED, RIO TINTO LIMITED – ASX RIO, PERSEUS MINING LIMITED – ASX PRU, KPMG AUSTRALIA PTY LTD

BHP flags improved offer for Noront

Original article by Nick Evans
The Australian – Page: 16 : 2-Sep-21

The board of Canadian nickel miner Noront Resources has noted that Andrew Forrest’s Wyloo Metals has not yet made a binding offer for the company, and it may never make such an offer. Noront is continuing to back the $C325m ($351.5m) takeover bid from BHP, arguing that is the only binding offer that has been made. BHP’s bid values Noront at $C0.55 per share, and the resources group has not ruled out matching or topping Wyloo’s non-binding offer of $C0.70 a share.

CORPORATES
NORONT RESOURCES LIMITED, BHP GROUP LIMITED – ASX BHP, WYLOO METALS PTY LTD

Cashed-up Forrest trumps BHP in nickel bidding war

Original article by Brad Thompson, Peter Ker
The Australian Financial Review – Page: 12 & 16 : 1-Sep-21

Andrew Forrest’s Wyloo Metals has increased its takeover bid for Canadian nickel explorer Noront Resources to $C0.70 per share. Wyloo had initially offered just $C0.315 per share, before BHP upped the ante with an offer of $C0.55 per share. Wyloo holds a stake of about 25 per cent in Noront, although this could be increased to 37 per cent via a convertible loan. Forrest has indicated that Noront could potentially remain a listed company if Wyloo’s takeover bid succeeds.

CORPORATES
WYLOO METALS PTY LTD, NORONT RESOURCES LIMITED, BHP GROUP LIMITED – ASX BHP

China’s new front in the trade war with Australia – Africa

Original article by Ian Verrender
abc.net au – Page: Online : 5-Jul-21

China is by far the biggest lender to Africa, with one of its more controversial strategies involving handouts being given in exchange for stakes in long-term mining projects where Chinese-government-owned firms take all the profits. It is estimated that China struck $US164 billion ($218 billion) worth of such deals across Africa in the four years to 2018, with the Natural Resource Governance Institute finding they deliver much more benefit to China than the host country. By increasing its influence in potentially iron ore-rich countries like Guinea and the Republic of Congo, China can reduce its reliance on Australia for iron ore.

CORPORATES
NATIONAL RESOURCE GOVERNANCE INSTITUTE, RIO TINTO LIMITED – ASX RIO

Chinese seize African iron projects

Original article by Nick Evans
The Australian – Page: 13 & 16 : 29-Jun-21

Chinese-backed company AustSino Resources has emerged as the likely developer of a number of iron ore projects in the African countries of Cameroon and the Democratic Republic of Congo. The former ASX-listed company has connections to state-owned Chinese enterprises like China Railway Construction and steelmaker Baowu, while the projects in question would add around 100 million tonnes of iron ore to global markets and could help China to reduce its dependence on Western Australia’s Pilbara region for iron ore.

CORPORATES
AUSTSINO RESOURCES GROUP LIMITED, CHINA RAILWAY CONSTRUCTION CORPORATION LIMITED, BAOWU

Canadians blow up Rinehart’s coal plans

Original article by Nick Evans
The Australian – Page: 13 & 16 : 23-Jun-21

Regulators in Canada have rejected environmental approval of Riversdale Resources’ proposed Grassy Mountain coking coal project in Alberta. Riversdale Resources is owned by Gina Rinehart’s Hancock Prospecting, which paid $800 million to acquire it in 2019. News of the rejection of the Grassy Mountain project had a significant impact on the share price of Montem Resources and Atrum Coal on 22 June, with both companies having projects in the vicinity of Grassy Mountain; Montem’s shares fell 52.8 per cent, while Atrum’s shares were down by 40.4 per cent.

CORPORATES
RIVERSDALE RESOURCES, HANCOCK PROSPECTING PTY LTD, MONTEM RESOURCES LIMITED.- ASX MR1, ATRUM COAL LIMITED – ASX ATU

Amazon tops $1bn sales but still in red

Original article by David Ross
The Australian – Page: 15 : 9-Feb-21

Digital giant Amazon has advised that its Australian arm posted a loss of $3.8m in 2020, following a $2.5m loss previously. However, Amazon Australia boasted total sales of $1.12bn in 2020, compared with just $562.1m in 2019. The company’s online stores recorded sales totalling $511m, while its subscription services’ sales rose from $35.4m to $90m. Amazon entered the local market in late 2017, and it now employs nearly 1,000 people in Australia.

CORPORATES
AMAZON.COM INCORPORATED

Beijing a buyer in Shell gas facilities

Original article by Perry Williams
The Australian – Page: 2 : 24-Dec-20

The deal for Global Infrastructure Partners to buy a stake in the Queensland Curtis LNG project’s infrastructure could potentially be vetoed on national interest grounds. It has been revealed that China Investment Corporation is a minority investor in the GIP fund that struck the $US2.5bn ($3.3bn) deal to buy part of Shell’s stake in the LNG infrastructure. The deal must be cleared by the Foreign Investment Review Board, although Treasurer Josh Frydenberg can override the FIRB under changes to foreign investment rules that were made earlier in 2020.

CORPORATES
GLOBAL INFRASTRUCTURE PARTNERS,QUEENSLAND CURTIS LNG PTY LTD,CHINA INVESTMENT CORPORATION,ROYAL DUTCH SHELL PLC,AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD,AUSTRALIA. DEPT OF THE TREASURY

Failed Xinja scored secret China lifeline

Original article by Michael Roddan
The Australian Financial Review – Page: 13 & 14 : 21-Dec-20

Xinja recently handed back its banking licence to the Australian Prudential Regulation Authority following its failure to secure a $433 million injection from Dubai-based World Investments, while sources have stated that Xinja failed to secure any monies from Australian institutional investors. It has been revealed that Xinja secured a multimillion-dollar capital injection from a "shadowy" Chinese company during 2019, but that it kept the investment a secret; it is believed the company in question was called Happy Sino Steel.

CORPORATES
XINJA BANK LIMITED, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, HAPPY SINO STEEL, WORLD INVESTMENTS

AusSuper goes solo in $5bn Infratil bid

Original article by Cliona O’Dowd
The Australian – Page: 13 & 19 : 9-Dec-20

AustralianSuper is offering $NZ7.43 ($7.04) per share in an indicative, non-binding takeover offer for New Zealand-based Infratil. The offer comprises a cash component of $NZ5.79 per share and an in-specie distribution of shares in renewable energy provider Trustpower. The bid for the dual-listed Infratil is the first major deal that AustralianSuper has pursued on its own; the industry fund has previously teamed up with co-investors to bid for companies such as Navitas and Healthscope. AustralianSuper is said to have been looking at Infratil for at least a year.

CORPORATES
AUSTRALIANSUPER PTY LTD, INFRATIL LIMITED – ASX IFT, NAVITAS LIMITED, HEALTHSCOPE LIMITED