1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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Rio Tinto (ASX: RIO) is partnering with environmental technology company, Calix, to test low emissions steel making in Western Australia. Rio will invest $35-million dollars to support the construction of Calix's (ASX: CLX) Emissions Steel Technology demonstration plant. The global miner says the plant could enable Pilbara iron ore to be used in lower emissions steelmaking. The plan will be built at a site previously earmarked for Rio's BioIron Research and Development Facility, which will be put on hold.
Elders (ASX: ELD) saw net profit for the year increase 12-percent to $50.3-million dollars on higher revenue. It says its livestock and real estate units had mitigated the negative impacts of drought in southern Australia. Elders kept its dividend steady with a final payout of 18-cents a share. The annual dividend for the year is 36 cents a share, unchanged from a year ago.
And Pro Medicus (ASX: PME) has secured a $44-million dollar five year cloud contract. The deal is with Advanced Radiology Management for its Visage 7 Enterprise Imaging Platform. The roll out of the platform across the Pro Medicus group is targeted to go live over the second quarter of next year. The company says the deal addresses radiologist shortages by improving efficiency and reducing provider burnout.
TPG Telecom (ASX: TPG) has launched a $688-million reinvestment plan. The plan offers eligible minority shareholders the chance to reinvest their $1.61 per share cash distribution into new shares. New shares issued under the institutional reinvestment plan will be issued at $3.61 a share, a 5-percent discount to Friday's closing price. TPG has confirmed its EBITDA guidance for 2025 of just over $1.6 billion to $1.65 billion dollars.
IperionX (ASX: IPX) says it remains focused on executing the commercial scale up of titanium production and manufacturing in Virginia. That's as it defended itself against a short seller report released by Spruce Point Capital Management that saw it go into a trading halt on Thursday. The company says it maintains confidentiality, data security and intellectual property controls that meet the US Department of War's contracting requirements. It says Spruce Point did not engage with IperionX at any time before releasing its short seller report.
Westpac (ASX: WBC) says it will extend its moratorium on regional bank closures. The decision means the moratorium will stay in place until 2030. The bank said it made the decision after a review of its banking services in regional areas. It will also open two new service centres in regional towns. And it plans to trial a community banking service to deliver a mobile banking service in regional towns.
