Here are the headlines from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles on Monday morning.
But first, here’s the need-to-know data points:
Australian Dollar ($A) (AUDUSD): 74.33 US cents
Dow Jones (DJI): up 0.4%
Oil (WTI): $US73.96 per barrel
Gold: $US1,256 per ounce
Australian Investing News
Making finance news down under, the $2.9 billion Perth-based Independence Group NL (ASX: IGO) released its 2018 metal production results for the Nova, Tropicana and Long mining projects. Independence Group said a milling issue at Nova modestly affected its ability to hit its target for nickel, copper and cobalt production. However, CEO Peter Bradford said Nova is on track for a strong 2019.
“Nova is a world class asset producing nickel, copper and cobalt, all of which are aligned to the energy storage thematic, and Nova is now fully ramped up in every respect,” Bradford said. “Both Nova and Tropicana are poised for a strong 2019 financial year, with continuing business excellence projects at both operations poised to deliver improved productivity and value.”
Salmon producer Huon Aquaculture Group Ltd (ASX: HUO) acknowledged a Federal Court decision that found a 2012 expansion of farming in Tasmania’s Macquarie Harbour was not valid. Houn said it welcomed the judgment and an announcement by the Environmental Protection Authority (EPA) to reduce farming levels. Huon said its operations are unaffected by the decision.
Finally, telecommunications company Vocus Group Ltd (ASX: VOC) announced the retirement of Jon Brett and Rhoda Phillippo, who are non-executive directors. “We would like to recognise Jon and Rhoda for each of their valuable contribution and service to the Board and the shareholders of Vocus over the years, and thank them for their respective valuable contributions in the Vocus journey over the years,” Vocus Chairman Bob Mansfield said.
Shareholders of Vocus, which owns telco brands such as Dodo and Primus, have witnessed a number of the company’s directors and executive team depart the business over the past year.
“Over the past 12 months, Vocus has undertaken a comprehensive board and senior management renewal process, including the appointment of Kevin Russell as Managing Director and CEO, overseen by the Board’s Nomination Committee,” Mansfield added. “This process is now in its final stages, and the Board expects to finalise the appointment of two additional independent non-executive directors to the Board in the near future.”
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