Top 5 Business News Stories in WA – July 2021
As the world continues to recover from the pandemic and the economy continues to reopen, the business world is experiencing some major shifts and changes. In Western Australia, several big business stories have been making headlines. In this article, we bring you the top 5 business news stories from WA in July 2021.
1. Rio Tinto to close New Zealand aluminium smelter
Mining giant Rio Tinto recently announced that it would be closing its aluminium smelter in New Zealand, blaming high energy costs and an inability to compete with cheaper smelters in China. The closure is expected to result in the loss of around 1,000 jobs and has sparked concerns about the future of the New Zealand economy.
2. Bunnings protests over vaccine mandate
Australia’s largest hardware chain, Bunnings, recently announced that it would be requiring all staff to be vaccinated against COVID-19, sparking protests from anti-vaccine groups. The protests have drawn criticism from doctors and health professionals, who argue that vaccination is the best way to protect oneself and others from the virus.
3. West Coast Eagles fined for quarantine breach
The West Coast Eagles AFL team was recently fined $50,000 for breaching COVID-19 quarantine protocols. The team flew to Melbourne for a game against Collingwood in June, but players were spotted at a public venue without masks, violating biosecurity protocols. The breach has raised concerns about the ability of sports teams to follow strict quarantine rules.
4. Western Power invests in battery technology
Utility company Western Power has announced plans to invest in battery technology to help manage the state’s electricity grid. The company will install a 100MW battery in Kalbarri, which will be one of the biggest of its kind in the world. The battery will help to store excess solar and wind energy, reducing the need for fossil fuels.
5. Chinese company buys big WA cattle station
Chinese company Ningbo Xingfa bought the 13,000-hectare Mount Elizabeth Station in Western Australia for $30 million. The station is home to around 5,500 head of cattle and is one of the largest stations in the region. The sale has sparked debate about foreign ownership of Australian land and the impact it may have on the local economy.
In conclusion, July 2021 has been a month full of eventful business news stories in Western Australia. From major companies closing down, to violation of quarantine protocols and big investments in renewable energy, the business world in WA is witnessing a period of change and progress. As we head towards the second half of the year, it’s likely that we will see more exciting developments in the business landscape of WA.
