News Wrap

IN THIS morning’s News Wrap: Newcrest’s new chief shuffles top ranks; Solar sparks rush for graphite; and private equity firms eye oil, gas.

Lou Caruana

Newcrest’s new chief shuffles top ranks

New Newcrest Mining CEO Sandeep Biswas has wasted no time in putting his stamp on the goldminer’s executive ranks, with a slimmer structure revealed on Thursday, according to the Australian Financial Review.

Biswas will run Newcrest without a chief operating officer and has also reduced the number of executives in charge of external affairs and communications.

The core of his team will remain, with Gerard Bond staying on as chief financial officer, David Woodall (international operations), and Craig Jones (domestic operations).

But external affairs boss Geoff Day will leave Newcrest to become chief executive of Kingsgate Consolidated, while communications boss Debra Stirling has also left the company and will be replaced by AGL’s head of people and culture, Jane Thomas.

Solar sparks rush for graphite

The promise of mass production from new battery plants is prompting an unprecedented rush for stocks linked to mining of graphite – a key component in small, dense batteries able to store more power for electric cars and houses, according to The Australian.

Private equity firms eye oil, gas

Global private-equity groups, such as KKR, are forming teams to position themselves for acquisitions in the energy space in Australia and Asia, according to major investment banks, the The Australian reported.