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Australian Vanadium cuts executive salaries in COVID-19 safeguarding measures - Australian Vanadium has announced a business strategy to safeguard its financial health and preserve its vanadium project based in Western Australia during the COVID-19 (coronavirus) pandemic. The company introduced cost reduction strategies that involved a 50% cut in salaries for the managing director and chief operating officer,...Almost 90% of businesses to be impacted by COVID-19, says ABS - A survey conducted by the Australian Bureau of Statistics (ABS) has revealed that almost half of Australian businesses have already experienced an adverse impact as a result of the COVID-19 outbreak. In addition, the ABS expects almost 90% of businesses across the country to impacted...Virgin Australia stands down 80% of its staff amid coronavirus crisis - Virgin Australia has stood down around 8,000 of its 10,000 employees until at least the end of May and further slashed domestic flight capacity amid tightening interstate border restrictions aimed at preventing the spread of coronavirus. In an announcement to the ASX, the airline said...Healthcare firm Healius rebuffs $2.1 billion takeover bid from Partners Group - Australian healthcare company Healius has turned down a AUS$2.12 billion ($1.31 billion) takeover offer from private equity firm Partners Group. Healius said that the bid undervalued the company but added that it was open to further talks with Partners Group to get a better proposal...Alkane Resources receives financing interest from Australia’s EFA for rare earths project - Australian gold producer and rare earths developer Alkane Resources has confirmed it has received financing interest from Australia’s export credit agency (EFA) for its Dubbo project in New South Wales. Dubbo is an advanced polymetallic project with large in-ground resources of zirconium, hafnium, niobium, yttrium...Tasmania sets unprecedented 200% renewable energy goal by 2040 - The Government of Tasmania has unveiled plans to double its production of clean power by 2040, citing several key advantages held by the island state over mainland Australia in terms of attracting clean energy investment. The 200% renewable energy generation target for 2040 was announced...Mining magnate Andrew Forrest up stake in Fortescue to 35% - Australian mining billionaire and philanthropist Andrew Forrest has acquired an additional 22 million shares in iron ore giant Fortescue Metals Group, taking his personal ownership in the company he founded to 35.3%. Forrest paid AUS$243 million for the shares and now owns over 1.112 billion...Western Australia tops 2019 Fraser Institute survey of mining jurisdictions - Western Australia has risen to the top of the Fraser Institute’s latest Annual Survey of Mining Companies, ahead of Finland and the US state of Nevada in second and third respectively. The Australian state, which is home to almost 130 export-oriented mining projects and hundreds...General Motors to retire historic Holden brand by 2021 - General Motors (GM) has announced it will retire the Holden car brand by next year as the manufacturing giant looks to exit several markets outside the US and China. GM said it will wind down Holden sales, design and engineering operations in Australia and New...South Australia’s 100% renewables target in sight after transmission line approval - South Australia’s ambition to hit net 100% renewables within a decade has been boosted by the Australian Energy Regulator (AER) approving the business case for a major new transmission line linking the state and New South Wales. The AER approved the regulatory investment test for...
