Iluka Resources said it will cease production in zircon operation at Jacinth-Ambrosia project in South Australia following fall in zircon prices. The company's decision will positively impact the global market.
South Australia
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Kuala Lumpur, Malaysia-based conglomerate Sime Darby Bhd, through its subsidiary Haynes Mechanical, picked up a 70% stake in Singleton, Australia-based mining machinery provider TFP Engineering for A$3.2 million (MYR9.5 million).
China's Bright Food Group Ltd unit Manassen Foods could be the frontrunner in an acquisition contest for United Dairy Power, the biggest privately-owned milk supplier in Australia, according to a news report by the Business Spectator.
Australian natural gas giant APA Group entered an agreement to acquire the rest of distribution firm Envestra Ltd after increasing its offer to around AU$1.4 billion ($1.3 billion).
Australia-based energy company Ambassador Oil and Gas Ltd has sold its 52.5% stake in South Australia's Cooper Basin, a potential gas field, to New Standard Energy Ltd for USD42.5 million.
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