Company Interview / Market Update | BHP, Droneshield, Orion Minerals, GPT Group, PYC Therapeutics

BHP will sack 750 workers -- with the mining giant blaming the impact of high royalties imposed by the Queensland government for the losses. The BHP Mitsubishi Alliance says its Saraji South mine will cease to be operating from November -- with BHP also said to be considering shutting its “FutureFit” academy that trains up newcomers, particularly women, to join the industry.

Droneshield has won two fresh contracts with the US Defence Department worth almost $8 million. The contracts are for its handheld systems which stop unmanned aerial vehicles from communicating with their controllers. Droneshield has now sold more than 4000 of the devices worldwide.

And Orion Minerals has signed a deal with global miner Glencore for about US$250 million in funding. This is to finance its Prieska copper-zinc project in South Africa.

GPT Group has appointed Tony Osman an independent non-executive director. Osmond - who will start in March -- recently served as Citigroup Australia's Chair of banking -- and has served on the boards of the Australian Ballet and Orchestra Victoria.

PYC Therapeutics has named Chair Alan Tribe as managing director -- following the resignation of CEO Rohan Hockings. Hockings has given two months notice and will leave PYC On the 16th November. Mr Tribe -- who joined the broad in 2018 -- will fill the roll while a search for a permanent MD is underway.