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By Simon Hartley

New Zealand’s biggest construction company Fletcher Building has gone through some major financial pain in recent times and while it is looking better on the home front now, there are still some challenges across the ditch.

Includes following attachments:
- AGM presentation. (3.6 megabytes)

By Simon Hartley

Steel & Tube is appealing what it sees as the severity of an appeal against a fine related to steel mesh, while the Commerce Commission is countering this.s

By Ross Louthean

There have not been a lot of dollars spent on the Otago South gold prospect in the past year and the cash-tight New Age Exploration is now undertaking a review of its assets.

By Ross Louthean

Despite recent market commentary about Pacific Aluminium no longer being for sale, the chief of this Rio Tinto division said any of the Australasian smelters would be considered for sale if the price was right.

By Ross Louthean

The Sams Creek gold prospect has been inactive for a few years now, and a report out yesterday indicates this situation is unlikely to change in the near future.

By Ross Louthean

There are differing views coming through on the cost and the need to re-enter the damaged Pike River coal mine and some political differences are emerging.

One of the key coal mines on the North Island has been given a life extension through a decision to develop a new resource.

GNS Science is collaborating with city authorities to undertake a survey aimed at understanding what structural damage has or could happen in NZ cities.

There have been major board changes at Vector Ltd after key shareholder Entrust said it would not support some re-elections, including long-term chairman Michael Stiassny.

Refining New Zealand is in the process of issuing a series of subordinated notes to repay existing debt.

Includes following attachments:
- Investor presentation. (593.8 kilobytes)

The advancing state of communications for energy companies has seen Trustpower strike an alliance with Spark.

Recent News

Gold News

Laneway Resources has plans for a significant drilling plan near the old Jubilee gold workings in the Hauraki goldfield.

The September quarter report of E2 Metals shows that the long wait for exploration action at Neavesville continues.

Waihi was one of the great historic gold mining centres in New Zealand and its revival is now looking to be more exciting and more durable.

Talks have begun with parties interested either in acquiring high-grade ore or concentrates from the Talisman gold-silver mine at Karangahake.

The term “seek and ye shall find” certainly can be applied to OceanaGold with its exploration below and lateral to the Martha open cut at Waihi.

Oil & Gas News

Horizon Oil confirmed on Friday that its new senior debt facility was now in place and provides a better arrangement than the earlier structure.

Australian engineering giant WorleyParsons is to join a New Zealand oil storage service.

TAG Oil, which is moving to the departure lounge for New Zealand to expand its investments in Australia, had a healthy September quarter.

The significant slide of the oil price from its recent peak is seen by the chief of Z Energy as a boon for Z Energy’s bottom line and also for Kiwi motorists.

While New Zealand is putting clamps on future gas exploration a report by the International Energy Agency shows the rest of the world is adopting a contrary approach.

Coal, Lignite & CSG/CBM News

The Government has put a stamp of approval on the re-entry into the damaged Pike River coal mine at a time when another mining voice raised concern about the potential danger of the move.

Investors may have been impressed with results for Bathurst Resources in the September quarter but they await the Court of Appeal by the company against a High Court ruling against a company on some West Coast coal permits.

One of the key energy providers in New Zealand has shown how the political actions of the Government are out of step with the reality to provide sustained energy for the country.

A nitrogen gas plant has been returned to the Pike River coal mine site to help with the recovery of miners who were killed there eight years ago.

A series of four workshops on risk assessment for a re-entry into the Pike River coal mine will be held this month, and they will be open to the public.

Other Metals & Minerals News

BlueScope Steel, owner of New Zealand Steel, has strengthened its position in the Asian steel market by purchasing another plant in Malaysia.

The just-released Sustainability Report for BlueScope Steel details the environmental measures it is taking for its Australian, New Zealand and international operations.

A company controlled by New Zealand’s wealthy Todd family is undertaking a comprehensive review on the quality of iron ore at its Pilbara prospect in Western Australia to achieve an economic deposit.

After sobering data and a hefty fine, Steel & Tube’s executives told shareholders that there are good signs for better times ahead.

Another loan has been given to Nautilus Minerals to complete its seabed mining project in Papua New Guinea waters.

Renewable Energy News

Infratil and Mercury NZ had extended the deadline for their joint full takeover bid for Tilt Renewables.

There was a timely announcement this week by Tilt Renewables, which is under a full takeover bid, about the financing being in place for its new Victorian wind farm.

The Wairakai geothermal power station has just marked its sixtieth anniversary and is the world’s second oldest geothermal power station.

The September quarter is often not a good time for windfarms and this was reflected in the result for one listed operator.

Tilt Renewable’s independent directors are deepening the trenches to resist the full takeover bid by Infratil and Mercury NZ.

Environment News

A total of 150 years ago to today a massive earthquake off South America saw a huge tsunami sweep across the Pacific, hitting New Zealand and causing fatalities on the Chatham Islands.

By switching to ground power instead of inbuilt aircraft supply while at NZ airports international Air New Zealand flights were generating big savings on jet fuel and also lowering the carbon footprint.

The faulting under Dunedin may be greater than originally thought but a new GNS Science led study is not ringing any alarm bells.

Strong quake off Picton (Free to View)

The top of the North Island had a nasty jolt with a 5.4 magnitude earthquake. Fortunately it was quite deep.

New Zealand scientists and a prominent university have joined forces to support food authentication requirements for developing nations

Education, Science & Technology News

GNS Science marks the second anniversary of the devastating Kaikoura earthquakes with a series of telling videos.

The threatening issue of arch conservationists in the Government to prevent any mining access on conservation land will be the subject of the next Nelson Discussion Group meeting.

A well-known geophysicist at GNS Science is the latest winner of a Royal Society of NZ fellowship.

There will be a series of tours of New Zealand, eastern Australia and New Caledonia as a prelude to next year’s big Pacrim 2019 conference in Auckland.

A potential new opencast coal mine in Canterbury will be the subject covered at next month’s AusIMM Christchurch Discussion Group meeting.

Economics, Politics & Government News

Jacinda Ardern was prominent on the world stage in Singapore while there was more political stumbling by her colleagues back home.

A rolling strike by school teachers begins today and it may be the first of wage tests for the Government.

Our political commentator has seen this as a week of contrasting fortunes for the main political parties, with both sides of the house scoring wins and losses.

It now appears that the damage caused by a maverick MP may now see a regrowth of party unity to maintain tenure for National Party leader Simon Bridges.

The Labour Party conference in Dunedin saw the Finance Minister do a good job of talking up the economy but the Prime Minister failed to deliver a speech for the masses.

Other News

The trade war between New Zealand’s prime markets of China and the United States shows a need for Kiwi farmers to seek alternative markets.

Some of the activities of CBL Insurance that irked the Reserve Bank and other Government bodies have been made public.

International trade tensions and Brexit issues are putting an extra furrow in brows but manufacturing data from Otago and Southland in October showed a still strong result.

The annual report of the Electricity Authority shows that more options are now available for New Zealand energy consumers and that flexibility is set to increase.

Meridian Energy felt the impact of lower hydro storage in what was generally a dry October in New Zealand but early rains in November have improved the scenario.