Michelmore confident private equity predators will not take over

MMG chief executive Andrew Michelmore is unfazed by the pack of cashed-up private equity firms hunting for mining bargains, or the emergence of $US15 billion ($19.7 billion) spin-off South32, saying it will be difficult for any predator to snap up MMG given its controlling Chinese shareholder, according to the Australian Financial Review.

Specialist mining private equity firms, such as Mick Davis' $US5.4 billion fund X2 Resources, would have a “very interesting conversation” were they to approach MMG's owner, state-owned enterprise China Minmetals, Michelmore said.

Ferguson slams NSW union ‘misinformation’ campaign on poles and wires

Former Labor Resources Minister Martin Ferguson has blasted the New South Wales trade unions for running a deliberate campaign of misinformation over the proposed privatisation of the state's electricity networks to protect the vested interests of a small number of workers, according to the Australian Financial Review.

The former trade union official who now works in the gas industry said that it had been left to consumer groups and non-government organisations to stand up for lower-income sectors of the economy and push for privatisation of the NSW distribution and transmission networks.