BRIEFS
Former ABC and ASX chairman Maurice Newman is one of several high-profile businessmen to be appointed to the board of Tigerair Australia following the completion of Virgin Australia's purchase of a 60 per cent stake. The six-member board of Tigerair Australia also includes Virgin chief executive John Borghetti as chairman and both Richard Branson's former right-hand man, David Baxby, and the chairman of the Singapore-based Tigerair, Joseph Pillay, as directors.
Rio exports to start
Rio Tinto is expected to begin exports from its big new Mongolian mine as early as Tuesday. The Oyu Tolgoi copper and gold mine was supposed to begin commercial exports in June, but Rio's plans were twice thwarted by the Mongolian government, with whom Rio has a difficult relationship. But those issues are believed to be partially resolved, allowing Rio to begin exports from its most important growth project.
Iron mine expansion
Atlas Iron is on track produce 12 million tonnes a year by June, 2014, after approving a new mining project on Monday. Atlas announced that it would spend $146 million from its existing cash reserves to fund the Mount Webber expansion in partnership with Altura Mining. Despite increasing Atlas' exports by 3 million tonnes a year, investors were not impressed, pushing the stock 5 per cent lower to 79.5¢.
Hotel wine club deal
Treasury Wine Estates, the world's largest pure-play winemaker, will deepen its reach into the retail travel and luxury beverage market after a deal with the international JW Marriott Hotels & Resorts to create a new wine club for hotel guests. But the winemaker, which owns brands such as Penfolds, Wolf Blass, Pepperjack and Yellowglen, isn't totally fixated on the top end of town and has also signed a wine partnership with the famous Boston Red Sox to allow fans to sip some sauvignon blanc while watching the game.
Frequently Asked Questions about this Article…
After Virgin Australia purchased a 60% stake, Tigerair Australia appointed a six-member board that includes former ABC and ASX chairman Maurice Newman, Virgin CEO John Borghetti as chairman, David Baxby (Richard Branson's former right-hand man) and Joseph Pillay, chairman of Singapore-based Tigerair.
Virgin Australia's majority stake and the new high-profile Tigerair board signal closer integration between the carriers and potential strategic changes. For everyday investors, this could mean shifts in market share, cost structures or route strategies—factors to watch when assessing airline stocks or industry outlooks.
Rio Tinto was expected to begin exports from the Oyu Tolgoi copper and gold mine as early as Tuesday. Commercial exports were originally slated for June but were twice delayed due to disputes with the Mongolian government. Those issues are believed to be partially resolved, enabling the company to start exports from what the article calls its most important growth project.
Oyu Tolgoi is described as Rio Tinto's most important growth project, so the start of exports marks a major operational milestone. For investors, commercial shipments could boost revenue and production profiles, but they should also be mindful of lingering political or regulatory risks given past disputes with the Mongolian government.
Atlas Iron approved the Mount Webber expansion and said it will spend $146 million from existing cash reserves to fund the project in partnership with Altura Mining. The expansion aims to lift production to about 12 million tonnes a year by June 2014, increasing exports by roughly 3 million tonnes annually.
Investors reacted negatively to the expansion announcement, pushing Atlas Iron’s stock down about 5% to 79.5 cents. That suggests some shareholders were concerned about the project cost, timing, or other company risks despite the production increase, and highlights that growth spending can sometimes unsettle markets in the short term.
Treasury Wine Estates struck a deal with JW Marriott Hotels & Resorts to create a new wine club for hotel guests. The partnership is intended to deepen Treasury Wine Estates' reach into retail travel and the luxury beverage market by offering curated wine experiences to hotel visitors.
The article notes Treasury Wine Estates owns brands such as Penfolds, Wolf Blass, Pepperjack and Yellowglen. It also highlights a wine partnership with the Boston Red Sox, enabling fans to enjoy sauvignon blanc while watching games—showing the company is expanding both premium and broader-market channels.
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