The West Coast's stricken coal miners - Solid Energy and Bathurst Resources - both attended the mining industry's annual New Zealand conference yesterday, to the surprise of many of the 260 delegates.
New Zealand's largest gold producer and arguably one of the smallest commercial operators in the country have both notched up milestones this week, despite the withering global gold price pushing some competitors to the wall.
No punches were pulled in the opening sessions of New Zealand's annual mining conference, with speakers highlighting the commodity price plunge, the dire lack of equity funding and the growing indifference of investors to the lurching mining sector.
Mighty River Power's profit has tumbled 76% from a year ago, after the electricity generator-retailer booked one-off non-cash writedowns of $130million in exiting generation assets or developments.
Diversified business owner Hellaby Holdings has booked record revenue of almost $780million for its year to June and a slew of divestments and potential acquisitions are planned for the year ahead.
Plunging global oil prices have dragged New Zealand Oil & Gas into a loss for the year, but its plans to rein in exploration costs are not affecting proposals to test drill off Oamaru.
Camper-van rental company Tourism Holdings continues its turnaround efforts, booking a more than 80% profit increase to $20million and reiterating guidance for a $30million profit in 2019.
Rest-home developer and operator Metlifecare has pushed beyond $1 billion its value of development assets, and posted a 14% profit gain for the year to $52.4million - but for analysts, 2016 includes several negative headwinds.
New Zealand has posted its second consecutive monthly trade deficit, with $649million more imports than exports for the month of July.
Dunedin will be inundated by the miners next week, with more than 250 Australasian delegates signed up for the annual conference of the New Zealand branch of the Australian Institute of Mining and Metallurgy.
The stock exchange reporting season is about half way complete, with most of the companies filing reports having ''just passed muster'', according to brokers.
The weeks ahead are crucial for the $40 million to $50 million bid for a 50.1% controlling stake in Dunedin's Scott Technology and nothing will go ahead unless 75% of shareholders agree to the proposal.
Australian skiers and snowboarders packing transtasman planes have underpinned a 25% boost to Queenstown Airport Corporation's after-tax profit, lifting it to a record $8.3million for the year.
Bluff's South Port has booked record cargo volumes during the past year, underpinning an almost 16% increase to after-tax profit - topping to a record $7.74million.
A turnaround half-year trading period has taken the New Zealand Refining Company (NZR) from a $6.9million loss a year ago to a $65.2million after-tax profit.
A Dunedin engineering company facing a potential $40 million to $50 million share bid by one of the world's largest food companies says it has ''huge'' growth prospects.
Port of Tauranga is in the early stages of reaping the benefits of its expansion in the North and South Islands, posting revenue and profit gains for its year to June.
New Zealand operations underpinned Fletcher Building's 3% revenue gain to $8.66 billion, but as expected the Australian economy's malaise booked a 5% decline in revenue, and one-offs, prompting a profit plunge.
Without exception, the 1800s gold rushes of the Klondike, California, Central Otago and Victoria's Ballarat and Bendigo all began with a few lone prospectors ''striking pay dirt''. ODT Senior Business Reporter Simon Hartley questions whether there is still a place for the small mineral prospectors of the 21st century, or if they are being muscled out by technology.
Strong profit growth in New Zealand for Fletcher Building is predicted to be offset by a weak performance in Australian operations, its worst contribution to the group in a decade.
