The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went up 0.72% on Tuesday.
Australian Dollar ($A) (AUDUSD): 71.35US cents
Dow Jones (DJI): up 0.55%
Oil (WTI): $US60.04 per barrel
Gold: $US1,315 per ounce
ASX Sharemarket News
In ASX sharemarket news, Galaxy Resources Limited (ASX: GXY) has announced that it has entered into a pre-development agreement with the Grand Council of Cree and the Cree Nation of Eastmain regarding the development of the James Bay Lithium Mine Project.
General Manager of Galaxy Lithium (Canada) said: “We believe that the James Bay Lithium Project holds tremendous potential that can only be fully realized through meaningful collaboration with the Cree Nation.”
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New Zealand energy giant Mercury NZ Ltd (ASX: MCY), which only generates renewable energy to sell to retail customers, has committed to the construction of the first 33 of 60 wind turbines at Turitea near Palmerston North. It currently generates 16% of New Zealand’s total electricity needs.
The 119MW Turitea wind farm will generate 470GWh per year on average, which it said would be enough electricity to power 210,000 cars. It comes at a cost of $256 million.
Mercury CEO Fraser Whineray said: “With this announcement Mercury has realised the ‘awesome foursome’ of renewables – hydro, geothermal, solar and wind – that enhance our contribution to New Zealand’s green energy future.”
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Property construction business Finbar Group Limited (ASX: FRI) has launched a new business that will provide all current and future owners of Finbar apartments with a one-stop-shop property management service.
The company expects ‘Finbar to rent’ to be revenue neutral as it will offer the service at a low price to improve the return for investors. The set management fee will be 9.8% with no additional letting fees, advertising costs or extras.
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