A round-up of today's other news stories in brief

Former equity chief returns to BIAM

Bank of Ireland Asset Management (BIAM) has rehired former deputy chief investment officer Leona Nicholson to be its head of Irish equities and the group's global equity product. Ms Nicholson worked for BIAM for close to 20 years and was appointed deputy chief investment officer in 2004. She was an unsuccessful candidate to replace Chris Riley as chief investment officer in 2006.

BIAM also announced that Lance Graham will move from AIB Investment Managers to take up the post of head of UK equities and co-manager of euro-zone equities at BIAM.

Peter de Lacy, formerly with Marble Bar Asset Management in London, has been appointed a senior research analyst. In addition to his role as head of US equities, Brian Routledge has been given the role of heading up BIAM's concentrated global equity product.

St Gobain buys Maxit Group

St Gobain, the world's biggest building materials group is to buy clay and mortar company Maxit Group from Germany's HeidelbergCement in a deal worth around $3 billion (€2.17 billion).

St Gobain said the acquisition would double the size of its industrial mortars division and that Maxit would fit well with the French company's own Weber mortars business. - (Reuters)

Xstrata first-half profits rise 47%

Xstrata met forecasts with a 47 per cent rise in first-half profit yesterday and unveiled a $1 billion offer for South Africa's Eland Platinum in a bid to tap booming demand for the metal from Asia. The Swiss-based miner, which has failed to close two deals this year after a string of previous acquisitions, said it had secured the support of shareholders owning 51 per cent of Eland. - (Reuters)

Ormonde finds new gold deposits

Ormonde Mining has found new gold deposits at its Pino de Oro prospect in western Spain.

In a statement to the stock exchange yesterday, the Dublin and London-listed company said that drilling on the first of several structures at Pino de Oro has found gold at shallow depths in 11 out of 13 holes. It also said that further testing indicates that more than 95 per cent of the gold can be recovered.

Profits at RPS increase 36%

RPS, the UK environment consultancy which employs more than 1,000 people at seven offices in Ireland, yesterday reported a 36 per cent increase in first-half pretax profit and said the outlook for development work in both the UK and Ireland was good. The company, which has worked on projects including the redevelopment of Dún Laoghaire harbour, recorded pretax profit of £21.6 million (€31.7 million) in the six-month period.

Progress at Kenmare plant

Titanium production company Kenmare Resources said yesterday it was bringing the second mining dredge at its Moma ilmenite plant in Mozambique on stream earlier than expected after taking control of the mineral separation plant, product warehouse and mineral export facilities from the contractors.

The company also revealed that the Bronagh J barge that will be used to transfer the mineral from Kenmare's jetty to customers' vessels is only now setting off from Singapore for the plant. Shipping had expected to start in June.