Quick fire – industry news briefs

CIMIC Group is acquiring an additional 10 per cent equity interest in global mining services provider Thiess for $320 million. Its agreement with Elliott Advisors increases CIMIC’s ownership of Thiess to 60 per cent. "Increasing our ownership of Thiess strengthens CIMIC’s business profile, as it grows its commodities portfolio to include metals and minerals critical to the world's shift to zero emissions and develops services to enable sustainable mining, reflecting the strategic importance of the energy transition to CIMIC," CIMIC Group executive chairman Juan Santamaria said. CIMIC sold 50 per cent of Thiess to Elliott in 2020, with a put option back to CIMIC exercisable between January 2024 and December 2026. Following this transaction, the put option for the remaining 40 per cent is exercisable between April 2025 and December 2026. Metarock Group reports that the proposed transaction to sell 100 per cent of its interest in the PYBAR business to Thiess is progressing well. However, the expected completion date has moved back a month to May 31 given some delays in obtaining the necessary third party consents in respect of key customer contracts. The Advanced Materials and Battery Council (AMBC) has appointed Quentin Hill as its inaugural chief executive officer. The group said Mr Hill (pictured left) brought his experience as managing director of Australia's first mover in green steel resource projects, to grow the support and impact of the AMBC and lift visibility of the sector by promoting its members’ new and bold industry visions to government, investors and the wider community. "This is a critical time of opportunity for the sector and I look forward to meeting with all participants and building on the excellent early work of the council in promoting the needs of its members, attracting new members and helping to build a diverse and strong advanced material and battery sector across Australia," Mr Hill said. His previous roles include managing director of Carpentaria Resources (now Hawsons Iron) and general manager/practice director for Morrison Geotechnic. Mount Isa Council has awarded a $362,328 contract for Stage 1 of the Telstra Hill upgrade project to Oaka Constructions. Stage 1 works, expected to cost $476,484 in total to deliver, are expected to begin later this month and be completed in the second half of this year. Tablelands Regional Council has approved a $25,000 community project request from the Millaa Millaa Progress Association for the development of a master plan for Millaa Millaa. "The funding will be to appoint an experienced consultant to prepare the master plan for Millaa Millaa and surrounds, including McHughs Lookout, the Waterfall Circuit and Mungali Creek areas," Deputy Mayor Dave Bilney said. "These areas really suffered during the closure of the Palmerston Highway and we need to help the community build greater resilience. "The plan will be an aspirational document — outlining long-term strategies and objectives for land use, recreation, tourism, transport, style, infrastructure, development and industry." Millaa Millaa main street. Photo: Peter Hitzke.

Quick fire – industry news briefs

Industry Queensland

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