![]() Lluka Resources (ASX: ILU) has announced the proposed demerger of Sierra Rutile – urging shareholders to back the plan. “The acquisition represents the next step in Cooper Energy’s twin gas supply hub position and is underpinned by attractive market dynamics through the tightening southeast Australia gas supply.”ĪPA will carry on operating the plant until the plant’s Major Hazard Facility Licence (MHFL) is transferred to Cooper Energy, which could take up to 12 months. “It accelerates our strategic position in the Gippsland Basin and strengthens our end-to-end capability to produce, process and deliver gas to our high-quality domestic customers and the spot market,” he said. Meanwhile, Cooper Energy’s managing director David Maxwell said the purchase of the plant in Victoria would be “transformative” for the company. “We have been very pleased with the recent performance of the plant and the exceptional work done by the APA team who have worked tirelessly to achieve ongoing performance improvements.” APAĪPA Group (ASX: APA) has announced the sale of its Orbost gas processing plant to Cooper Energy (ASX: COE) for US$228.9 million (A$330 million).Īustralia’s biggest natural gas infrastructure business APA will receive A$210 million upfront with the remaining to be handed over as deferred payments.ĪPA chief executive officer and managing director Rob Wheals said the results of the plant should not go under appreciated. While the company kicks off its search for a new leader, the interim role will be held by the company’s chief operating officer Dave Harris. “He has focussed on delivering Australian Agricultural Company’s branded beef strategy, built a team encompassing the next generation of leadership and led the turnaround of the company’s performance.” He said as well as guiding the company through drought and floods, he navigated the impacts of COVID-19 and market fluctuations. AAC company chairman Donald McGauchie said Mr Killon’s contributions to the organisation were significant.
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