PRESS DIGEST-Australian Business News - Sept 15

Compiled for Reuters by Media Monitors. Reuters has not verified these stories and does not vouch for their accuracy.

THE AUSTRALIAN FINANCIAL REVIEW (www.afr.com)

--Origin Energy (ORG.AX) has flagged the full release of a controversial report by independent expert Grant Samuel that helped the gas explorer deflect a hostile takeover bid from British-based BG Group (BG.L). Origin last week announced a US$9.6 billion (A$11.8 billion) joint-venture deal with global energy group ConocoPhillips (COP.N) following Grant Samuel's valuation of Origin at an unexpectedly high A$28.55-a-share to A$30.71-a-share, prompting BG Group to abandon its offer. Origin said yesterday the report would be released within days. Page 12.

--Biotechnology company ChemGenex (CXS.AX) is aiming to raise A$15 million via a share placement as it seeks an international drug marketing and development partner. Chief executive Greg Collier said yesterday that ChemGenex, which is developing the cancer drug Omacetaxine, plans to make a submission to United States drug regulators for approval in mid-2009. He said the company, which is in talks with global groups including Bayer and Celgene, wanted to "have a strong enough cash position so we don't get forced into anything." Page 12.

--Media buying consortium Group M predicts that total media advertising spending will grow by 5.8 percent in 2009, down from 6.2 percent this year. Group M executive James Parkinson says while old media including free-to-air television (TV), newspapers and magazines will expand by just 2 percent, "the online and pay TV sectors will continue to show strong growth." The only old media advertising segment set to experience strong growth next year is outdoor, with 5.4 percent, says Mr Parkinson. Page 14.

--BHP Billiton (BHP.AX) (BLT.L) senior marketing executive Peter Toth has left to join manganese explorer OMH as chief executive. Mr Toth, 39, said yesterday that his decision to leave the world's largest miner had been driven mainly by "a view on OMH's business, assets and growth potential, as well as personal considerations." Mr Toth said manganese prices had recovered from a temporary glut in 2006 and demand for the metal was now beginning to outpace demand. OMH runs the Bootu Creek mine in the Northern Territory. Page 14.

THE AUSTRALIAN (www.theaustralian.news.com.au)

--Aspiring uranium exporters in Western Australia (WA) have welcomed the pro-uranium mining policy of newly installed Liberal Premier Colin Barnett. The previous Carpenter government's plans to legislate a ban on uranium mining had thrown the future of the sector in WA into doubt. Peter McNally, a senior local executive with Canadian company Mega Uranium, said yesterday that with the new WA Government's positive stance on uranium, "you'd expect a lot of money to be invested [in the uranium sector] now." Page 27.

--The Australian Petroleum Production and Exploration Association (APPEA) is pushing for the creation of a "Clean Global Contributors" category for liquefied natural gas exporters in the Federal Government's proposed emissions trading scheme. In a submission in response to the Government's emissions green paper, APPEA said yesterday that having such a category for the low-emission fuel would ensure that local industries "are not hampered by a domestic emissions reduction scheme operating in the absence of a broad global scheme." Page 27.