Whitehaven Coal shares
jumped 8.1 per cent on speculation that China's Shenhua was interested in bidding for the company. Whitehaven told the stock exchange Shenhua had not made a proposal but confirmed it had held discussions with the Chinese group. Whitehaven shares closed up 26¢ at $3.47, valuing the company above $3.5 billion.
The operator of Adelaide's Skycity Casino will push ahead with a $300 million upgrade after signing a deal with the South Australian government allowing the installation of more gaming tables and poker machines. The casino will pay the government $20 million and has agreed to comply with revised measures to deal with problem gambling.
On the board
Merger and acquisitions lawyer Ewen Crouch is joining Westpac's board. Mr Crouch has been the chairman of Allens law firm since 2009. He will step down from his role at Allens on January 31 and join Westpac as an independent non-executive director on February 1.
Toro Energy has expressed its disappointment at a further delay to its Wiluna project in Western Australia, which is the front-runner as the state's first uranium mine. Toro said
federal Environment Minister Tony Burke had delayed a decision on whether to
approve the project and requested more information.
He delayed his decision until March 31.
Two BP rig supervisors charged with manslaughter in the
death of 11 workers on the Deepwater Horizon will go on trial in 2014. Robert Kaluza and Donald Vidrine are accused of disregarding high pressure readings that should have
been indications of trouble before BP's well blowout. Prosecutors said they expect to provide more than a million pages of information to the defence.