Westpac completes further business sale By Sarah Kendell 03 August 2021
The major bank has completed the sale of another of its specialist businesses as part of a simplification strategy.
In a statement, Westpac said it had completed the sale of its vendor finance business to Angle Finance, almost a year after the transaction was originally announced.
“Westpac is pleased to have successfully executed the transaction, which will help Australian businesses continue to finance small ticket equipment loans to grow and be successful and help us become a simpler bank,” Westpac chief executive of specialist businesses and group strategy Jason Yetton said.
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By Alex Druce
Disruptions at Gold Road Resources’ Gruyere operation in Western Australia have forced the $1.3 billion miner to soften its production guidance and lift its costs.
Gold Road was leading losses for the ASX 200 on Monday, down 8.5 per cent at a near seven-week low $1.30 in a fairly lacklustre morning for precious metals producers.
The company said disruptions at the Gruyere processing plant operations included a torn mill feed conveyor belt, which resulted in temporary repairs and reduced processing rates.
Gold Road Resources has had some mechanical troubles at the Gruyere mine.
Credit:Gold Road Resources
Following the shutdown of the milling circuit to replace the conveyor belt, a coupling on the ball mill failed.