“Productivity needs to improve,” says the RBA, BCA, CEDA, Treasury and the Banks. But that is not the real problem argues John Sheridan The RBA, the BCA, government ministers and others are all back on the bandwagon again – “Australia’s productivity needs to improve before people can expect wage rises”. One of the measures of…
BlueScope steel is rapidly refining its plans for decarbonising its steel making and today announced the likely $1 billion relining of its currently mothballed No. 6 blast furnace (6BF) at Port Kembla in New South Wales. The company told investors that it now expects significant takeup of low emissions steel technology into the 2040s. “Given…
Australian high-tech welding manufacturer K-TIG will accelerate its global expansion, announcing it had raised $4 million in a share placement and revealing three new distribution deals. The TIG welding technology developer announced new distributors in Turkey, Spain, Portugal, and the successful placement of $4 million to investors including existing directors. Chairman Stuart Carmichael said the…
Rio Tinto and the Tasmanian Government are to work together to boost employment and growth outcomes for the company’s Bell Bay smelter, including examining the possibility of new investment in the smelter. They have signed a MoU to jointly investigate how the smelter’s manufacturing capability and electricity demand can help support the development of new…
The board of energy company AGL Energy has rejected a takeover bid aimed at accelerating both the closure of the company’s coal-fired power stations and its investment in renewables. The company issued a statement to the ASX this morning saying that it rejected an ‘unsolicited, non-binding indication of interest’ from a consortium including tech billionaire…
By Joseph Brookes Just $85 million has been released from the federal government’s flagship $1.5 billion Modern Manufacturing Strategy (MMS) program since it was announced in 2020. The biggest grants are currently being held up by government ministers’ input on independent recommendations, and await a final decision by the Prime Minister, Scott Morrison to be…
By Peter Roberts Am I the only one who wonders what the purpose could possibly be of the new Australian Nation Brand developed at the cost of $10 million for the federal government (pictured). The new logo replaces an earlier brand which was launched in 2020 to much derision – it was not instantly recognisable…
A company planning to build a $700 million electric bus manufacturing plant in the Southern Highlands of New South Wales has abandoned its plan following unsatisfactory negotiations with the state government, ABC reported that Nexport had failed to secure certainty about the project from the state government and scrapped the plans. In 2020, Nexport announced…
By Peter Roberts The news this week that Origin Energy is seeking approval to shut Australia’s largest coal-fired power plant seven years early, is just the beginning of what should be a rapid phase out of coal power in Australia. The Eraring station in the NSW Hunter region and the largest of 16 remaining coal-fired…
Start up businesses making anything from non-milk cheese to fake meats have been busy raising cash from investors this week. In just one week: Fenn Foods raised $3 million to expand into exports of its vEEF brand plant-based ‘meats’ All G Foods won backing from Woolworths venture capital arm to expand its Love Buds alternative…