Simon Hartley

Dunedin's Meridian mall in George St has been sold for the third time in 14 years.

Swell Cafe and Bar in the Esplanade block at St Clair - constructed by local developer Stephen Chittock whose three companies are in receivership - has been sold in a deal worth more than $1 million.

A record average gold price cushioned rising production costs for Oceana Gold as it booked a $US10.9 million ($NZ13.2 million) after-tax profit for its third quarter to September.

The value of exported goods from New Zealand decreased by 3% for the quarter to September, but the seasonally adjusted trade balance between exports against imports for the period gleaned a $340 million export surplus.

The future sale of Tiwai Point aluminium smelter near Bluff - one of seven separate assets being bundled into a new company by mining giant Rio Tinto - could become the focus of Chinese investment or stock-exchange listing.

Oceana Gold shares have slid 15% in value this week as the volatility in global spot gold prices continues and mining shares bear the brunt.

The first pre-cast concrete wall panels have been erected in the $10 million construction of supermarket chain Progressive Enterprises' Countdown premises in Andersons Bay Rd, Dunedin.

East Otago-based Oceana Gold has floated a long-term concept plan for a "superpit" open cast mining proposal at Macraes which could increase estimated gold reserves by almost 70%, to more than 2.6 million ounces.

A hostile $71.6 million takeover bid was launched yesterday to wrestle for 100% control of listed manuka honey products company Comvita by Singaporean-based Cerebos.

Takeover bidder Cerebos owns the Gregg's coffee brand in Dunedin, which is the country's only instant coffee producer, and is about halfway through a $6 million redevelopment at the factory.

Fletcher Building's first half 10% earnings downgrade this week has prompted brokerages to downgrade their own full year after-tax profit expectations by between 15% and 18%.