Oceana Gold has completed a long-awaited study into its mothballed gold and copper development mine at Didipio, in the northern Philippines, which has been mothballed for almost two years after a massive cost blowout.
Southern offshore exploration for oil and gas and coal-seam gas around Otago and Southland was updated by OMV New Zealand and listed L&M Energy yesterday, two of the more active explorers in the South.
Flesh has been added to the bones of the Government's oil and gas exploration action plan announced almost a year ago with regulatory changes, reviews and a funding boost to permit agency Crown Minerals.
An equity raising estimated at between $35 million and $55 million is expected to be launched during the next 12 months once the takeover of New Zealand Farming Systems Uruguay is concluded.
A large redevelopment deal in central Dunedin has fallen through after a major backer did not come through with funding, but other projects are in the offing.
Unlocking New Zealand's economic potential from petroleum is the theme of the four-day 2010 New Zealand Petroleum Conference starting in Auckland tomorrow.
Partners in a proposed new South Island-based bank have agreed to go ahead with the project and will be seeking a listing on the New Zealand stock exchange by February next year.
Manufacturing nationally has returned a flat result for August, with Otago and Southland dipping, following four months of positive gains.
The Reserve Bank left the interest-driving official cash rate at 3% yesterday and indicated the pace of further increases was likely to be moderate, compared to expectations given in June.
Banks in New Zealand will be unaffected by international banking regulation changes requiring banks to hold more capital - rules introduced in order to stave off a repeat of the financial crisis which prompted the bailing-out of banks in crisis.
Falling ship visits to Port Chalmers during the past year were balanced by an increase of container numbers across Port Otago's wharves to record levels - delivering a $7 million normal dividend to 100% owner, the Otago Regional Council.
Global spot gold prices hit an international high of $US1275 ($NZ1739) per ounce on the London Metals Exchange, after faltering economic reports from Germany.
Shares in Oceana Gold passed the $5 mark for the first time yesterday after being added to three more Standard and Poor's rating agency indexes, including the influential ASX 200 Index on the Australian stock exchange.
A survey of Otago and Southland people on the future of lignite mining in Southland has revealed a balance between interest in jobs versus environmental concerns.
Listed Ecoya completed a $4.75 million placement yesterday, which will be used to partially finance last week's $10 million-$20 million purchase of natural skincare manufacturer Trilogy Natural Products.
The Reserve Bank is expected to leave the interest-driving official cash rate at 3% on Thursday in the wake of the failure of South Canterbury Finance and the earthquake which has devastated Christchurch.
Coal seam gas explorer L&M Energy has booked a $9.7 million loss for the six months to June, but successful capital raising of $10 million recently has positioned it well to continue its southern exploration.
Profits for The Warehouse were slightly down on last year but shareholders were nevertheless rewarded with a special dividend for the second year running, and the prospect of more to come.
Failed South Canterbury Finance's receivers have confirmed funding support will continue for borrowers who meet the lending criteria.
A former Jennian Homes apprentice has resurrected the Otago franchise following its liquidation in August under its previous owner.
