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Chinese Demand Coal and Iron Ore Effect Australian Mining Boom
Australian Mining Boom Stokes Profits, Narrows Record Deficit
Australia’s mining boom, stoked by Chinese demand for coal and iron ore, helped boost company profits by the most in more than seven years and narrow the nation’s current account deficit from a record.
Company profits advanced 14.3 percent in the second quarter, more than six times the 2.3 [...]
Australian Iron Ore Mine Producer Company, Fortescue Expansion of Mining Exploration
The biggest iron ore producer company of Australian, Fortescue Metal Group Ltd., will expansion of mining exploration. To support expansion plan of mining exploration, the company plans to sell extraordinary share.
Fortescue wants to almost triple output to feed rising demand from steel mills in China and benefit from record prices. The first expansion stage to [...]
Mitsubishi Forecasts 25% Net Gain as Oil, Coal Surge (Update3)
Mitsubishi Corp., Japan’s largest trading company, said profit may rise 25 percent this year as soaring oil and coal prices bolster revenue from its energy and commodities businesses.
Net income will probably climb to a record of 580 billion yen ($5.6 billion yen) in the year that started April 1, from 463 billion yen in the [...]
BHP seeks to build £170bn mining superpower
Rio Tinto confirms biggest takeover move since dotcom boom.
The world’s largest mining group, BHP Billiton, is seeking to take over its rival Rio Tinto in a deal that would catapult it to a market valuation of about $360bn (£170bn), bigger than Microsoft and equivalent to the gross domestic product of Ukraine.
After weeks of market rumours, [...]
Newmont Mining loses $2.06-billion in Q2 2007
Newmont Mining Corp. has released the second quarter financial and operating results, which include a negative $2.12-billion impact of strategic initiatives completed during the second quarter. For the quarter, the company reported a net loss of $2.06-billion $4.57 per share), compared with net income of $161-million (36 cents per share) for the second quarter of [...]
BHP: Tasty, But Hard To Digest
If demand means profits, then mining leviathans like BHP Billiton and Rio Tinto could well become the targets of private-equity bidders, according to analysts at Merrill Lynch. And if that sounds as far-fetched as Microsoft bidding for Yahoo! once did, then at least consider the analysts’ reasoning:
“We are not proposing that BHP will be an [...]
The price of coal is poised to rebound on demand from China
The price of coal is poised to rebound from a two-year slump as China buys more than it exports for the first time in history.
Power use in China, the world’s biggest coal producer, is rising 13 percent annually, and utilities are building plants at a record pace. The country gets 78 percent of its electricity [...]
Coal Surge Seen by Mobius as China’s Imports Increase (Update2)
Coal is poised to rebound from a two-year slump as China buys more than it exports for the first time in history.
Power use in China, the world’s biggest coal producer, is rising 13 percent annually, and utilities are building plants at a record pace. The nation gets 78 percent of its electricity from coal, spurring [...]
Around Asia’s markets: Analysts bet on China coal
Investors looking to profit from a surge in Asian coal sales this year may be better off with Chinese producers like China Shenhua Energy and Yanzhou Coal Mining than with their Australian competitors.
While the two nations account for 80 percent of the listed coal companies in the region, Chinese companies have the benefit of the [...]
