Sibelco to close one of its Stradbroke Island mines

Staff from North Stradbroke Island miner Sibelco have been told the mine will shut in August, according to the Sydney Morning Herald.

Sibelco said there would be minimum job losses at the mine, which currently employs 70.

Most of those will be redeployed throughout the company.

The deadline was brought forward from December because Fisherman’s Track, a community thoroughfare, would no longer be mined.

Santos shelves debt raising in oil price rout

Energy producer Santos has been forced to postpone a $733 million hybrid debt raising in Europe and will slash capital and operating expenditure following a slump in oil prices below $US70 a barrel, according to the Sydney Morning Herald.

Chief financial officer Andrew Seaton said the company had decided to defer any hybrid issue until market conditions improve, noting the oil market had experienced volatility following the decision by the Organisation of Petroleum Exporting Countries not to cut output at a meeting in Vienna late last week.

‘Stick it’, Palmer tells journos over CITIC

Clive Palmer has told journalists to “stick it” after again being questioned about his business dealings, according to the Sydney Morning Herald.

The Palmer United Party leader cut short a press conference in Canberra on Thursday when asked about his dispute with the state-owned Chinese company CITIC Pacific.

CITIC is suing the federal MP over claims more than $12 million was misappropriated by his company Mineralogy.