BRIEFS

Aquarius Platinum said its South African Everest mine had become uneconomic and would be placed on "care and maintenance". The company cited low platinum prices, industrial relations problems and several cost-related factors as the reasons.

In this announcement, "care and maintenance" means the Everest mine will be mothballed — operations paused — because the site is currently uneconomic due to low platinum prices, industrial relations issues and cost pressures.

The Australian Competition and Consumer Commission reported a 6% fall in the cost of telecommunications products in 2010-11. Inflation-adjusted prices for fixed-line phone services fell 7.3%, mobile services fell 4.6%, and internet services fell 3.6% over the year.

According to the ACCC, fixed-line phone services fell 7.3% (inflation-adjusted), mobile phone services became 4.6% cheaper, and internet services dropped by 3.6% during 2010-11.

SP AusNet priced $205 million of 10-year bonds and had completed a separate $434 million capital raising the prior week. The company said the funds would be used to refinance existing debts and support growth.

The article states SP AusNet's total debt stands at $4.678 billion. It also notes the company has links to Singapore Power.

The Telecommunications Industry Ombudsman will expand its role to include detecting and investigating systemic problems inside telcos. It also outlined plans to improve its members' complaint-handling skills.

APN News & Media paid $36 million for an 82% stake in online retailer brandsExclusive. The website has about 1.8 million members and sells premium clothing, accessories, shoes, toys, homewares and sporting goods at discounted prices. APN said the purchase is intended to bulk up its online presence, reposition the group for growth and increase digital earnings.