COMPANIES

Gindalbie Metals announced on Tuesday it will pursue its Karara iron project despite the mining companies' concerns on the proposed super profits tax by the government. However, the tax will cut down its returns for the project.

One of the world's iron ore miners have accused the Rudd Government's claims that miners were not paying its full and fair share of taxes.

The proposed resource super profit tax prepared by Wayne Swan has faced another disapproval, this time from former banker and mining leader John Ralph, stating the move as risky.

Transurban Group Ltd chairman David Ryan defended the company and its Board on its decision to turn down improved takeover offers from the Canada Pension Plan Investment Board (CPPIB), CP2 Ltd and Ontario Teachers' Pension Plan (OTPP).

Executives of Rio Tinto said on Tuesday the Federal Government's proposed resources super profits tax has already been damaging the nation's reputation as an investment destination, which threatens the Australian economic stability.

The Australian Competition and Consumer Commission (ACCC) is seeking for a $40 million penalty to be imposed on Telstra Corporation Ltd for alleged breaches of the company's competitive obligations under federal law.

Atlantic Ltd announced today that the proposed resources super profits tax (RSPT) will have minimal impact on its Windimurra vanadium project due to its large existing capital base and the circumstances under which the project will be acquired.

Woolworths on Monday declared its plans to upgrade its hardware chain by acquiring Gunns Limited's five store in Tasmania for $40 million.

Another company has publicly aired out its disapproval on the federal government's resource super profit tax as it will damage the resources sector.

South Africa's Aspen Pharmacare Holdings Ltd has been confirmed as the surprise bidder for Sigma Pharmaceuticals Ltd.

A spokesperson for private hospitals operator and pathology supplier Healthscope will permit private equity consortium to perform due diligence on the company provided that both parties will agree on a confidentiality agreement.

Brockman Resources issued a statement today asserting that both its strategic relationship with Sinosteel Australia Ltd and the development of its flagship Pilbara iron ore project remain on track.

An exploration firm declared on Monday its recent reverse circulation (RC) infill drilling results at Davidson Creek area for its pre-feasibility study.

Saudi Arabian Mining Co (Ma'aden) announced that it has awarded a $202 million contract to Flour Corp and WorleyParsons Ltd for the supervision, engineering and procurements its alumina refinery.

A1 Minerals Ltd announced today the commencement of its gold production as it moves out of the commissioning stage of the Brightstar Gold Project in the Laverton region of Western Australia.

A small salt miner in South Australian has appealed to the government, stating the resource super profits tax will not further help its firm as it is unviable.

The Reserve Bank of Australia is hit with a new controversy when its currency firm is linked to bribery with foreign officials and offers of prostitutes to gain banknote printing deals.

Budget carrier Virgin Blue is once gain cited as the top low cost airline in the Australia/Asia Pacific region at the Skytrax world airline awards held in Hamburg, garnering the honour for four consecutive times and edging out Tiger Airways and Qantas subsidiary, Jetstar.

Rio Tinto Ltd confirmed reports that it has reached iron ore price agreement with big Asian steel mills for April to June as a company representative clarified that China was not part of the closed deal, with price appreciations that could reach up to 90 percent according to industry experts.

Share in Sonic Healthcare Ltd plummeted 19.33% to $10.18 at midday, following an announcement downgrading its 2010 profit guidance.

Brockman Resources requested for trading halt today pending the release of a response to market speculation on its deal with Chinese steel giant Sinosteel Corp.

Sand mining company Unimin is seeking to expand a national park area at Stradbroke Island near Brisbane.

GUD Holdings Ltd confirmed today that it has signed a conditional takeover bid implementation agreement with Dexion Ltd. allowing it to make an off-market offer to acquire all issued shares of Dexion at $0.80 a share.

Debts of electrical appliance retailer Clive Peeters have now ballooned to $140 million after the National Australian Bank has called in receivers to seize control of the company.

Suncorp aims to reach the margin of its insurance business by 3 per cent over the next two years.

Sigma Pharmaceuticals Ltd announced in a statement to ASX today it has received a non-binding, indicative and conditional takeover proposal of $0.60 per share.

Woolworths Ltd and Bruce Mathieson paid $24 million for 4,692 decade-long poker machine licenses in Victoria during a state government auction.

A former chairman of BHP Billiton is fully against the resources rent tax proposed by the federal government.

West Australian residents are being called to switch to SGIO Home Insurance and start enjoying rewards unmatched by the industry.