Briefs

Flinders and Rio discuss gate sales

The iron ore explorer Flinders Mines is in early talks with Rio Tinto about potential mine gate sales from its Pilbara project. Access to transport infrastructure is a big challenge for the project, near Rio Tinto's Tom Price mine in the Hamersley Ranges.

COAL

India goes shopping

Coal India, the nation's monopoly producer, hopes to buy a mine in Australia this financial year and has hired Royal Bank of Canada to identify a potential site. The chairman, Partha Bhattacharyya, said yesterday it was also looking at mines in the US, South Africa and Indonesia.

GAMBLING

Aristocrat upgrade

Shares in Aristocrat Leisure rose 38c to $5.55, their highest in almost a year, after analysts at JP Morgan upgraded the stock to a "buy". Orders for replacement poker machines from North American casinos and Australian pubs were expected to revive sales volumes next year.

GOLD

Norton interest

Shares in Norton Gold Fields rose more than 15 per cent to 26.5c yesterday after the miner said it had been approached by investors interested in its projects. Norton is one of the largest Australian-owned gold producers on the exchange.

MINERAL SANDS

Mindarie on hold

Australian Zircon has placed its Mindarie project in South Australia on care and maintenance, and talks with its bankers about financing options are continuing. Trading in the mineral sands explorer's shares have been suspended since August 20.

DAIRY

Receiver called in

Crafar Farms, New Zealand's largest family owned dairy business, has been placed in receivership by its lenders. KordaMentha has been appointed receiver to four businesses that operate 20 dairy farms.

BIOTECH

HealthLinx backer

HealthLinx has won backing from a New York company for the commercialisation of its OvPlex ovarian cancer diagnostic technology.