Carnegie snatches victory from jaws of defeat

Perth wave energy developer, Carnegie Clean Energy (ASX: CCE) appears to have avoided oblivion after creditors approved a restructuring and recapitalisation plan to save the business. The plan, developed by KordaMentha Restructuring acting as administrators of Carnegie, will see secured creditors swapping debt for equity and the raising of $5 million. Unsecured creditors will likely…

Gupta’s Liberty steel play – BHP Steel writ large

Comment by Peter Roberts British businessman Sanjeev Gupta has announced a restructuring of his iron and steel making empire, using the very same strategy employed to build Australia’s steel industry, but on a global stage. As reported by @AuManufacturing, Gupta’s GFC Alliance is restructuring its UK steel and engineering assets, the Liberty Primary Steel works…

Billion dollar battery factory closer to reality

Magnis Energy Technologies (ASX: MNS) has reported positive progress by Imperium3 Townsville (iM3 TSV) developing a business case for a $2 billion lithium-ion battery cell gigafactory in Townsville. Magnis is one third owner of Imperium which said findings supported the radid development in both the business case and technical solution for a 12 GWh production…