Super Pit mine merger approved with near full support creating world s eighth-biggest gold producer
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The co-owners of the Super Pit gold mine announced a $16 billion merger in October.
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Shareholders have overwhelmingly voted to approve a $16 billion merger between the co-owners of Kalgoorlie-Boulder s Super Pit, a deal described by analysts as sensible which could prolong the life of one of Australia s biggest gold mines.
Key points:
The owners of the Super Pit each spent $1.1 billion to acquire 50 per cent stakes in the gold mine in November 2019 and January 2020
The deals put the mine in 100 per cent Australian ownership for the first time in the pit s 31-year history
ASX flat as Afterpay hits record The ASX finished flat after two straight days of gains as shares in buy now pay later market darling Afterpay climbed to a fresh record.
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ASX snaps losing streak; Woodside, Oil Search rally
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Nick Lenaghan
Shopping centre landlords face increasing pressure from tenants to adopt turnover-style rent agreements as the switch to online shopping accelerates, according to an S&P Global Ratings report.
At the same time, major mall owners – who range from listed players such as Westfield operator Scentre and Vicinity Centres to unlisted owners including investment platforms QIC and ISPT – are grappling with the prospect of softer demand for space as retailer defaults increase and large international brands reduce their footprints.
The rent war that broke out last year as retailers shut down during the height of the pandemic triggered a broader debate over whether leases could be better adjusted to accommodate modern shopping habits as consumers turn increasingly online.
ASX rises 0.7pc as gold miners lead solid rally in shares
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Gold miners were among the sharemarket s best performers on Wednesday, leading the benchmark to a 0.72 per cent gain, after a strong rise in the price of the precious metal driven by hopes a US stimulus deal is finally close.
The S&P/ASX 200 Index added 47.9 points to close at 6679.2. The All Ordinaries gained 50 points to 6916.7.
The price of gold rose 1.4 per cent to $US1853 an ounce overnight, buoying local mining stocks.
Afterpay soared to a new record, up 4.2 per cent to $114.60, extending its strong start to the week ahead of its inclusion in both the S&P/ASX 20 and the S&P/ASX 50 indices.