WICET shareholders ponder new Aurizon

The ACCC has raised preliminary competition concerns over Aurizon’s proposed acquisition of Flinders Logistics, which operates at Port Adelaide and Port Pirie.

Shareholders in the troubled Wiggins Island Coal Export Terminal in Gladstone, Queensland are considering a buyout proposal.

The political and commercial cat-and-mouse game over Adani’s proposed Queensland mega mine, based on the massive Carmichael coal deposit in the state’s Galilee Basin, shows no sign of final resolution.

The arrival and prolonged stay of Tropical Cyclone (TC) Debbie shut down Queensland’s coal industry at the end of March, and the ramifications will be felt for months. TC Debbie formed in the Coral Sea and reached Category Four intensity before it crossed the coast north of Mackay on 28 March, depositing torrential rain in the Bowen basin over more than five days.

Australian rail firm Aurizon is predicting ongoing strong demand for the nation’s thermal and metallurgical coal, based on international demand drivers, Australian coal quality and superior transport infrastructure.

There are strong signs the Australian commodities cycle has bottomed, and a new investment phase may be about to begin.