The company, Australia's second largest gold miner, last year sold its Pajingo gold mine in Queensland to Chinese-owned Minjar Gold for about $50 millionThe Edna May mine produced 70,188 ounces in the 2016/17 financial year, or about eight per cent of Evolution's total gold production, and had an earnings margin of 18 per cent.RBC Capital Markets analyst Paul Hissey estimates the Edna May mine could be worth around $125 million, based on current reserves of 426,000 ounces over five and a half years.
European car bosses gathering for the Frankfurt auto show are beginning to address the realities of mass vehicle electrification, and its consequences for jobs and profit, their minds focused by government pledges to outlaw the combustion engine.As the latest such announcement by China added momentum to a push for zero-emissions motoring, Daimler, Volkswagen and PSA Group made disclosures about their electric programs that could give policymakers some pause.
Travellers can pay for their flights in instalments after Jetstar became the first Australian airline to sign up with payment platform Afterpay.Afterpay allows travellers to pay for flights in fortnightly instalments and can be used for domestic tickets priced between $200 and $1,000 booked at least eight weeks in advance, with a $10 service fee per transaction.
If Australians aren't gloomy enough, one of the major banks is warning continued strong business conditions and encouraging signs in the jobs market is helping to mount the case for an official interest rate rise.The NAB report for August also showed a drop in business confidence, possibly over escalating tensions over North Korea.
The Queensland Building and Construction Commission (QBCC) applied the restriction on the local arm of Victorian-based Grocon Constructors on Tuesday.Under the restriction, the company 'must not provide tenders or quotes, or enter into any new contracts, for the performance of building work as defined in the Queensland Building and Construction Commission Act 1991 until it is notified in writing by QBCC'.
AIR Worldwide forecast on Monday total insured losses in the United States of between $US20 billion and $US40 billion.The reinsurance giant Swiss Re was loathe to provide guidance on the storm's significance for the industry.
A rising Australian dollar is slowing the country's economic transition away from mining, an economist warns.Chief economist at BIS Oxford Economics, Frank Gelber, says a weaker Australian dollar would help to rebuild non-mining sectors of the economy, like tourism, agriculture and education.
Retirement home owner and operator Aveo Group is due to face a second class action amid concerns of its alleged use of 'unfair and unconscionable' contracts against elderly Australians.Legal firm Maurice Blackburn on Wednesday said it is investigating running a no-win no-fee class action for former residents, calling for stronger rights and protections for older Australians and their families who are allegedly being taken advantage of by the aged care company.
3 per cent in the three months to July, helped by the strongest job creation since 2015.5 per cent level which the BoE has said would probably force employers to step up their pay increases to hire staff.
The British government will refer Twenty-First Century Fox's bid for satellite broadcaster Sky to the country's competition regulator for further examination, in a blow to Rupert Murdoch's takeover plans.UK Culture Secretary Karen Bradley told MPs on Tuesday that she intended to refer the takeover to the Competition and Markets Authority because of concerns that the deal might concentrate too much power in one company's hands.
The European Automobile Manufacturers' Association, known by its French acronym ACEA, proposed a 20 per cent reduction in harmful carbon dioxide engine emissions for passenger cars between 2021 and 2030.The goal was to be re-evaluated in 2025 and could be set higher if electric cars become more popular, Zetsche added.
Fierce rival David Jones last month called out falling consumer confidence as a major factor behind a 0.7 percent fall in full-year comparable sales, and Myer looks set to suffer too.
Law firm Slater and Gordon has launched a proposed class action against Vocus Group, alleging the telecommunications provider engaged in 'misleading and deceptive conduct' and breached disclosure obligations.Slater and Gordon says the 'proposed claim will be brought on behalf of hundreds, if not thousands, of people who purchased Vocus shares between November 29, 2016 and May 2, 2017 - including mum and dad investors and large institutional funds'.
The Reserve Bank of Australia will pay the federal government a dividend of $1.3 billion for 2016/17, a substantial reduction on the previous year after a rising Aussie dollar hurt the value of foreign asset holdings.
The energy market body says there's plenty of time to replace the capacity of a NSW coal-fired generator AGL wants to close.The Australian Energy Market Operator's warning to the Turnbull government over power shortages sparked the coalition's fight with AGL about the Liddell power station in the Hunter Valley.
The Commonwealth Bank has successfully issued $3 billion dollars in bonds in the United States - despite allegations of widespread breaches of anti-money laundering and counter terrorism financing laws.The bank raised the funds through the three-part bond more cheaply than expected, after receiving orders of $5.
NSW electricity generators say they are being put under pressure by higher power prices and the rising export demand for coal.The Australian reports AGL's Bayswater and Liddell plants in Newcastle are struggling to find new sources of thermal coal - and face difficulties in securing rail slots.