Briefcase: Business Snippets from around South Australia
In this week’s Briefcase, a major space industry partnership, a big win for Metcash workers, and SA tops the charts. Plus the latest business events.
- SA Jockey Club lands $1m surplus
- State named best place to do business in Australia
- Jade Gas lands $3.6m for gas production
- Space Machines Company pens agreement with UK firm
- Union secures raise for Metcash workers
- Australian Rare Earths digs up Federal funding
- Fresh grants for SA manufacturers
- AML3D wins US utilities sector contract
SA Jockey Club lands $1m surplus
For the fourth consecutive year, the South Australian Jockey Club has recorded a profit, with FY24’s coming in at $950,000 – more than triple last year’s result.
The SAJC said much of the result was driven by the performance of the new $21 million Wolf Blass ‘The Man’ Event Centre at Morphettville, which opened in December 2023.
It also reflected the first contribution from the SAJC seven-year sponsorship agreement with Sportsbet and is inclusive of the Club’s $500,000 contribution to the Adelaide Racing Canival’s prize pool.
“The fact that the SAJC can now make a half a million dollar investment in prize money and yet still record an operating profit almost twice that amount says a lot about our renewed financial strength,” CEO Grant Mayer said.
State named best place to do business in Australia
The Business Council of Australia’s annual ‘Regulation Rumble’ report named South Australia the best place in the country to do business ahead of all other states and territories.
The report ranks jurisdictions on a series of criteria including payroll taxes, property taxes and charges, planning systems and licences to do business.
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“The Business Council’s report is yet another endorsement of the State Government’s economic management, giving businesses more reason to choose to call South Australia home,” Treasurer Stephen Mullighan said.
Jade Gas lands $3.6m for gas production
Kent Town-based gas producer Jade Gas will raise $3.63 million via a share placement to new and existing investors to support its Red Lake gas field project.
The listed company said it had a “significant opportunity to take advantage of high local gas demand, in particular for Liquified Natural Gas to replace diesel consumption in the South Gobi region”.
Space Machines Company pens agreement with UK firm
Lot Fourteen-headquartered Space Machines Company has signed a strategic partnership with UK-based satellite servicing startup Lúnasa to address the global issue of space debris.
Under the partnership, Lúnasa will deploy its inaugural mission as part of Space Machine Company’s second Optimus satellite launch in 2026.
“This collaboration marks a significant milestone in our journey to advance in-orbit capabilities,” Lúnasa CEO Amin Chabi said.
The no Breakfast, Breakfast, a KickStart for Kids fundraiser raising money for the school kids who regularly go without breakfast, at the Hilton on December 13.
South Australian Grain Industry Awards, an inaugural gala dinner event hosted by Grain Producers SA to spotlight the grain sector, at Adelaide Oval on February 4.
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International Women’s Day Breakfast, a Committee for Adelaide Event with Anna Meares, Grant Stevens, R M Williams COO Tara Moses, and Future Women founder Helen McCabe, at SkyCity on February 27.
Union secures raise for Metcash workers
Workers at the Metcash Distribution Centre in Adelaide have secured equal pay and up to a 20 per cent increase in pay for labour hire following a determination by the Fair Work Commission.
SA’s largest union – the SDA – was campaigning for the raise, with labour hire workers to now receive the same pay as workers employed directly by Metcash.
“Up until now, labour hire workers were being paid 20 per cent less despite doing the same job. Our application bings this unfair practice to an end,” said SDA secretary Josh Peak.
Australian Rare Earths digs up Federal funding
Mining exploration firm Australian Rare Earths has been awarded a $5 million Federal Government grant, assisting it to develop a demonstration plant for its rare earths Koppamurra Project.
The grant will also support Australian Rare Earths to conduct metallurgical testing and undertake a pre-feasibility study.
“AR3 seeks to create a new industry that will generate wealth in the south-east of South Australia through jobs as well as investment in local businesses,” Australian Rare Earths CEO Travis Beinke said.
Fresh grants for SA manufacturers
The state government has announced a new grant program for SA manufacturers to adopt advanced technologies.
Worth $1 million, the Manufacturing Technology Adoption Program will be available over two rounds and will award grants of up to $50,000 to help companies adopt AI, additive manufacturing, data analytics, blockchain, computer vision, VR, and Industrial Internet of Things.
To apply for funding visit statedevelopment.sa.gov.au/manufacturing.
AML3D wins US utilities sector contract
AML3D has received a $2.27 million order from the Tennessee Valley Authority for one of its metal 3D printing systems.
The TVA is the sixth-largest power supplier and largest public utility in the United States, AML3D said.
AML3D’s ARCEMY X system was selected to enhance the TVA’s power generation repair capabilities following a competitive tender process.
