Stocks of the Hour: Telstra, Origin Energy & Mineral Resources

Company News

by Lauren Evans

Telstra (ASX:TLS) has partnered with the Australian Government to acquire the Digicel business in the South Pacific for US$1.6 billion ($2.1 billion). Telstra is contributing US$270 million and will be the sole owner and operator, despite the Australian Government providing most of the funds. Shares in Telstra (ASX:TLS) are trading almost 3 per cent higher at $3.84

Origin Energy (ASX:ORG) has executed an agreement with US-based energy investor EIG to sell a 10 per cent stake in the Australia Pacific liquefied natural gas project in Queensland for $2.12 billion. The sale will leave Origin with a remaining 27.5 per cent stake in the business, and Origin will retain seats on the company’s board. Shares in Origin Energy (ASX:ORG) are trading 3.7 per cent higher at $5.37.

The MARBL lithium joint venture owned by Mineral Resources (ASX:MIN) and Albemarle Corporation plans to restart operations at the Wodgina Lithium Mine, located in Western Australia. MARBL expects the mine to safely restart during the third quarter of 2022, after being placed on care and maintenance in November 2019 due to weak global market conditions. Shares in Mineral Resources (ASX:MIN) are trading 9.7 per cent higher at $43.20.

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