STRATEGIC PLANNING – AUSTRALIA

RIP for CSG as AGL exits

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Original article by Matt Chambers
The Australian – Page: 19 : 5-Feb-16

AGL Energy will write down the value of its coal seam gas assets by $A795m after announcing that it will cease all gas exploration and production. AGL will not proceed with the $A1bn Gloucester CSG project in New South Wales, while it will terminate production at the Camden project 12 years ahead of schedule in 2023. MD Andy Vesey has attributed the decision to exit the gas sector to factors such as the fall in commodity prices and lower demand for gas in New South Wales.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, SANTOS LIMITED – ASX STO, THE GREENS NSW INCORPORATED, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, ARROW ENERGY LIMITED, ROYAL DUTCH SHELL PLC, PETROCHINA COMPANY LIMITED, ENERGYAUSTRALIA PTY LTD

ALDI ups ad spend as rivals cut back

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Original article by Sue Mitchell
The Australian Financial Review – Page: 30 : 1-Feb-16

Data from Nielsen’s Advertising Information Service shows that ALDI Australia increased its advertising budget from $A15m in 2014 to $A28.9m in 2015. In contrast, Coles and Woolworths reduced their advertising expenditure by 25 per cent and 5.3 per cent respectively in 2015. ALDI has ramped up its metropolitan and regional TV advertising in recent years, and reduced its budget for newspaper advertising.

CORPORATES
ALDI STORES SUPERMARKETS PTY LTD, COLES SUPERMARKETS AUSTRALIA PTY LTD, WOOLWORTHS LIMITED – ASX WOW, THE NIELSEN COMPANY (AUSTRALIA) PTY LTD

Lowy to tap into shop-top living

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Original article by Turi Condon
The Australian – Page: 3 : 21-Jan-16

Westfield Corporation intends to build apartments above or near its shopping centres. Steven Lowy, co-CEO of the Australian-listed group, said Westfield has received approval to build more than 3,000 apartments at its Westfield London, Stratford City and Croydon shopping centres in the UK. It has also gained approval for more than 300 apartments in San Diego.

CORPORATES
WESTFIELD CORPORATION – ASX WFD, GOODMAN GROUP – ASX GMG

Amaysim shares surge on $70m Vaya takeover

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Original article by Ruth Liew
The Australian Financial Review – Page: 15 : 5-Jan-16

Amaysim currently boasts 718,000 mobile telephone subscribers, and the acquisition of online-only telco Vaya will increase its customer base by around 140,000. CEO Julian Ogrin says the $A70m deal will assist the growth strategy of Amaysim, which is aiming for one million customers by 2019. Ogrin anticipates further consolidation in the mobile phone market in 2016. Amaysim shares closed 20 per cent higher at $A2.75 on 4 January.

CORPORATES
AMAYSIM AUSTRALIA LIMITED – ASX AYS, VAYA PTY LTD, SINGTEL OPTUS PTY LTD, TPG TELECOM LIMITED – ASX TPM, IINET LIMITED, VOCUS COMMUNICATIONS LIMITED – ASX VOC, M2 GROUP LIMITED – ASX MTU, TELSTRA CORPORATION LIMITED – ASX TLS, VODAFONE AUSTRALIA LIMITED

Rio secures $6.1b finance package for Oyu Tolgoi mine

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Original article by Amanda Saunders
The Australian Financial Review – Page: 13 : 16-Dec-15

Rio Tinto directors are expected to approve the proposed expansion of its Oyu Tolgoi gold and copper mine in Mongolia by mid-2016, after the resources group secured financing for the project. Rio Tinto has finalised the funding deal with a consortium of 15 international banks and five export credit agencies, which will enable it to proceed with an underground expansion of the open pit mine. Tolgoi’s annual output is slated to be 500,000 tonnes of copper and up to 600,000 ounces of gold when the expanded project reaches full capacity.

CORPORATES
RIO TINTO LIMITED – ASX RIO, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, BNP PARIBAS SA, ING BANK NV, SOCIETE GENERALE, SUMITOMO MITSUI BANKING CORPORATION, STANDARD CHARTERED BANK PLC, CANADIAN IMPERIAL BANK OF COMMERCE, CREDIT AGRICOLE SA, INTESA SANPAOLO SPA, NATIXIS SA, HSBC BANK PLC, MITSUBISHI TOKYO FINANCIAL GROUP INCORPORATED, TURQUOISE HILL RESOURCES LIMITED, WORLD BANK, INTERNATIONAL FINANCE CORPORATION, EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT

Rio Tinto closes in on $US4b financing deal for Oyu Tolgoi

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Original article by Amanda Saunders
The Australian Financial Review – Page: 13 : 14-Dec-15

Rio Tinto has declined to comment on speculation that it could finalise a funding deal for the $US6bn Oyu Tolgoi copper and gold project in Mongolia in mid-December 2015. The resources group had been widely tipped to secure the $US4bn financing deal with up to 15 banks in early 2016. Oyu Tolgoi’s annual output is slated to be 500,000 tonnes of copper and up to 600,000 ounces of gold when production reaches full capacity.

CORPORATES
RIO TINTO LIMITED – ASX RIO, ANGLO AMERICAN PLC, FREEPORT-McMORAN COPPER AND GOLD INCORPORATED, GLENCORE PLC

Bank branches under threat

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Original article by Sally Rose
The Australian Financial Review – Page: 16 : 14-Dec-15

Gerard du Toit of Bain & Company says Australian banks may close 10-30 per cent of their bank branches within five years, as the trend toward mobile banking gathers pace. He notes that the number of visits to branches fell by nearly 10 per cent year-on-year in the September 2015 quarter. However, du Toit cautions banks against shifting their focus to digital banking before it is fully accepted by customers, particularly those in older age demographics.

CORPORATES
BAIN AND COMPANY, ABN AMRO BANK NV, FACEBOOK INCORPORATED

Seven serving up streaming

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Original article by Max Mason
The Age – Page: 25 : 14-Dec-15

Seven West Media’s tennis coverage during January 2015 was streamed 4.4 million times, with the bulk of viewers using tablets or mobile phones. The media group will stream more than 2,100 hours of tennis during January 2016, and will use its experience of the previous year to improve its coverage. Seven’s new and existing tennis sponsors have bought packages for both its traditional TV broadcasts and online coverage.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, AUSTRALIAN OPEN TENNIS, HOPMAN CUP PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, WILLIAM HILL AUSTRALIA PTY LTD, BLACKMORES LIMITED – ASX BKL, INDUSTRY SUPERANNUATION FUND, KIA MOTORS AUSTRALIA PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NETFLIX INCORPORATED, YOUTUBE INCORPORATED, THE EMIRATES MELBOURNE CUP

BHP and Rio Tinto quietly exit coal

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Original article by Angus Grigg
The Australian Financial Review – Page: 1 & 5 : 3-Dec-15

Australian-listed BHP Billiton and Rio Tinto have both significantly reduced their thermal coal production since 2008. Rio Tinto has also offloaded some $US2bn worth of thermal coal mines in recent years, while the future of its Hunter Valley mines is uncertain, and BHP spun off some of its thermal coal mines into South32. While coal divestment lobby groups such as 350 Australia have welcomed the big miners’ move to reduce their exposure to coal, Rio Tinto’s Sebastien Jacques recently forecast that global demand for thermal coal will remain strong.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, SOUTH32 LIMITED – ASX S32, 350 AUSTRALIA, PENGANA GLOBAL RESOURCES FUND, CITIGROUP PTY LTD, INSTITUTE FOR ENERGY ECONOMICS AND FINANCIAL ANALYSIS, UNITED NATIONS, SOUTHGOBI RESOURCES LIMITED, BLOOMBERG LP

Rio Tinto to approve $US1b South of Embley expansion

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Original article by Matthew Stevens, Amanda Saunders
The Australian Financial Review – Page: 19 : 26-Nov-15

Australian-listed Rio Tinto has declined to comment on speculation that its board of directors is about to approve development of its South of Embley bauxite project in Queensland. The $A1.4bn project has been delayed due a range of factors, including environmental concerns. Annual production is expected to be around 22.5 million tonnes, and this could potentially rise to around 50 million tonnes per annum.

CORPORATES
RIO TINTO LIMITED – ASX RIO