Latest news with #PeterKerr
West Australian
16-07-2025
- Business
- West Australian
Mount Gibson picks up Northern Star's Tanami Gold share in NT in $50 million shift from iron ore
Mount Gibson Iron is looking to make the jump from mining iron ore off the Kimberley coast to digging for gold in the Northern Territory, after signing up to buy tenements from Northern Star Resources. The small-scale iron ore miner will draw from its substantial reserves of $460 million and stump up $50m in cash to buy Northern Star's share of the undeveloped Central Tanami gold project. Mount Gibson had hinted in a recent quarterly update that it had been 'in a good position for opportunistic investments and acquisitions' and was reviewing potential targets as its iron ore operations at Koolan Island reach the end of their life. Chief executive Peter Kerr said the deal was a compelling opportunity to jump into gold for an 'attractive' price and was encouraged by the sector's strong fundamentals that have seen prices rocket 36 per cent since this time last year. 'Involvement in the Central Tanami gold project provides Mount Gibson with an opportunity to leverage the success of its Koolan Island iron ore operation to establish the foundations of a gold production business,' he said on Wednesday. About 40 million tonnes of high-grade haematite ore has been shipped since Mount Gibson restarted mining at Koolan Island in 2007. But with the operation expected to have run its course within the next 12 to 18 months, the cashed-up miner has had to start looking for its next commodity. Both Mount Gibson and the other half of the Tanami joint venture — a listed company also named Tanami Gold — share the same majority owner in a Hong Kong-listed resources investment group, APAC Resources. And the pair also share a board member in Brett Smith, who is chair of Mount Gibson and a non-executive director of Tanami Gold. Mr Smith has abstained from board decisions at Mount Gibson regarding the transaction. The transaction will need Foreign Investment Review Board approval to proceed. The joint venture covers more than 2100skqm of mining and exploration tenements in the Central Tanami region of the Northern Territory and claims to hold 1.6 million ounces of contained gold, according to an update in 2023. Mount Gibson will also take over gold exploration tenements from Northern Star spanning about 3600sqkm. Provided the transaction is locked away, Mount Gibson and Tanami plan to be in a place to make a development decision within the next 12 to 18 months. The market took to the deal, with Mount Gibson shares lifting 5 per cent to 32¢ in early trade on Wednesday, while Tanami Gold shares rose 3.3 per cent to 6.3¢ apiece. Azure Capital and Gilbert & Tobin were advisers to the buyer.
Daily Record
22-05-2025
- Business
- Daily Record
Clyde Gateway wins Regional Committee Chair Award at British Council for Offices (BCO) Scottish Awards Lunch
Scotland's largest and most ambitious regeneration programme, has played a transformative role in revitalising South Lanarkshire. The company behind a major new upgrade of an area of Rutherglen has been recognised for its outstanding contribution to the property industry in Scotland. Clyde Gateway received the Regional Committee Chair Award at the British Council for Offices (BCO) Scottish Awards Lunch 2025. Presented at a ceremony held at the Grand Central Glasgow Hotel, the award celebrates an organisation or individual whose long-standing work has made a significant and lasting impact on the commercial property sector in the region. Clyde Gateway, Scotland's largest and most ambitious regeneration programme, has played a transformative role in revitalising South Lanarkshire. As reported by Lanarkshire Live, the company unveiled proposals for a £500m vision to strengthen land in South Lanarkshire and Glasgow's east end at the UK Real Estate Investment & Infrastructure Forum (UKREiiF) in Leeds. This will include a 150-bedroom hotel and 450 homes proposed for the redevelopment of the former Shawfield Stadium in Rutherglen. Since its inception in 2008, Clyde Gateway has delivered thousands of jobs, sustainable homes, and high-quality office, industrial and commercial developments, bringing opportunity and renewed confidence to an area once synonymous with post-industrial decline. Martin McKay, chief executive of Clyde Gateway, said: 'It is a huge honour to receive this award, and I'd like to thank the BCO for recognising the impact of Clyde Gateway's work over the past 16 years. "We've excelled in partnership, and this award reflects the efforts of many people, our partners, stakeholders and others who share our success. "Development and construction are great industries that we are proud to support. "While we're proud of what's been achieved, we're equally excited about the future, with a strong pipeline of projects that will continue to deliver economic growth, attract investment and improve lives in the years ahead." Peter Kerr, chair of the BCO Scottish committee, added: 'Clyde Gateway stands as a model of what long-term, place-based regeneration can achieve. "The scale and quality of its impact, both socially and economically, has set a new benchmark for our industry. "From creating award-winning business spaces to delivering inclusive growth in some of Scotland's most challenged communities, Clyde Gateway is a thoroughly deserving recipient of this year's Regional Committee Chair Award.' And did you know Lanarkshire Live had its own app? Download yours for free here.
