Blue Spec Drilling Pty Ltd

Mergers and Acquisitions in Australia’s Energy, Mining and Utilities sector is on the rise. Image: Mergemarket.   BY CAMERON DRUMMOND   THE WA mining sector is leading the charge in the merger market on the back of increased foreign interest in a range of commodities. According to Mergemarket’s 2017 Australia M&A report, Energy, Mining and Utilities (EMU) has taken over Transportation as the most targeted merger and acquisitions (M&A) sector, with 77 deals worth a total $37.1 billion made during 2017– a 56.7 per cent increase on 2016 figures. Australia, and in particular WA, is poised for further increases in 2018 for deals in the tech metals sector, as the Federal and State Governments open doors to capitalise on growing...

$1b lithium mine on hold CONTINUED weak lithium prices have forced Wesfarmers (ASX: WES) and its Chilean partner SQM to delay the construction of the Mt Holland lithium project in the WA goldfields. The partners announced their decision to mothball the project in an ASX release after trading had closed on January 23, saying that the final investment decision was deferred to “enhance the long-term value of the project”. The project included the construction of the mine and co-located concentrator at Mt Holland, and a lithium hydroxide refinery in Kwinana. Wesfarmers said that while it would wait till 2021 to pull the trigger on a final investment decision, in the meantime it would conduct further work to cut capital and...

Coexistence strengthened between Queensland’s resources, renewable energy and agriculture industries The Queensland Government has passed legislation that strengthens the coexistence between the State’s resources, renewable energy and agriculture industries. Reforms include expanding the scope of Queensland’s coexistence institutions, including the GasFields Commission Queensland which will know be know as Coexistence Queensland. The role of Coexistence Queensland will be to provide enhanced information, engagement and education services to the community and industry on land access and coexistence issues across the resources and renewable energy sectors. Previously, focus was just on the onshore gas industry. Other coexistence...

THE Federal Government has announced new financing measures for the rare earths and critical minerals sector – particularly those strategically important for defence end-use. Projects which boost our ability to extract and process critical minerals in Australia will be eligible for financial support through Export Finance Australia (EFA), including the Defence Export Facility. Projects will also have access dual funding through the EFA and the Northern Australia Infrastructure Facility (NAIF), as well as a dedicated project facilitation office within the Department of Industry. Resources and Northern Australia Minister Matt Canavan said the financing options would secure the future of rare earth and critical mineral projects and would allow Australian companies to maximise access to existing government support to expedite new...