CORRECT: Chinalco Mulls Purchasing Direct Minority Stake In Oyu Tolgoi
7th Jul 2010 00:27
("Chinalco Mulls Purchasing Direct Minority Stake In Oyu Tolgoi," published at 1804 GMT, incorrectly stated that the SEC filing was made by Ivanhoe.) By Alex MacDonald Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Aluminum Corp. of China (ACH, 2600.HK) is considering purchasing a direct min
Read moreMARKET TALK: S&P/ASX 200 Offshore Leads Bullish; SPI Up 2.0%
7th Jul 2010 00:01
2301 GMT [Dow Jones] S&P/ASX 200 offshore leads bullish, with overnight SPI 200 futures up 85 points, or 2.0%, at 4332.0 after Wall Street saw its 3rd biggest 1-day gain this year, albeit on light volume. Financials surged on rosy 2Q earnings forecast from State Street and optimism over details of e
Read moreMARKET TALK: S&P/ASX 200 Offshore Leads Bullish
6th Jul 2010 23:58
2258 GMT [Dow Jones] S&P/ASX 200 offshore leads bullish, with overnight SPI 200 futures up 67 points, or 1.6%, at 4275.0 after strong gains in Europe and modest gains in U.S. equities. Following a 1.9% rise in China's Shanghai Composite, Stoxx Europe 600 rose 2.6% and FTSE 100 rose 2.9%, with London
Read moreLondon afternoon: Rally continues
6th Jul 2010 14:03
London stocks made further headway over the lunchtime session, with banks and miners still leading the way. Antofagasta, Kazakhmys, Xstrata, Vedanta and Rio Tinto are the stand out performers in the mining sector, as commodity stocks come back into fashion after their recent buffeting, though gold
Read moreAston Resources IPO Still Being Marketed Despite Valemus Being Pulled-Sources
6th Jul 2010 07:23
SYDNEY (Dow Jones)--Bankers are still working on the up to A$500 million Aston Resources Pty. Ltd. initial public offering, despite the high profile Valemus float being pulled from the Australian capital markets overnight, people familiar with the matter said Tuesday. The Valemus IPO was pulled
Read moreUPDATE: Rio Tinto Recommences Iron Ore Expansion Studies
6th Jul 2010 05:40
(Adds CEO comments, details on Xstrata coal project re-starts) By Stephen Bell Special to DOW JONES NEWSWIRES PERTH (Dow Jones)--Rio Tinto Ltd. (RTP) Iron Ore Chief Executive Sam Walsh said Tuesday that the company has recommenced studies on its multibillion dollar iron ore expansion i
Read moreMARKET TALK: Rio Tinto Restarts Iron Ore Studies After New Tax
6th Jul 2010 05:11
0411 GMT [Dow Jones] Rio Tinto (RIO.AU) Iron Ore CEO Sam Walsh says reworked Aussie mining tax has prompted restart of studies into expansion of operations in Pilbara. Rio put all growth projects in Australia under review after original tax proposal in May. "We're in the process of re-opening studie
Read moreMARKET TALK: S&P/ASX 200 Turns Positive In Thin Trading
6th Jul 2010 03:32
0232 GMT [Dow Jones] S&P/ASX 200 up 0.1% at 4225.1, hits 4228.6 after bouncing off 7-week low of 4182.7. Financials leading the recovery, with major banks up 0.8%-1.4% and Macquarie (MQG.AU) up 1.7% after opening falls of more than 1.0%. Miners still down, albeit well above intraday lows, with BHP (
Read moreRio Tinto Recommences Iron Ore Expansion Studies
6th Jul 2010 02:52
PERTH (Dow Jones)--Rio Tinto Ltd. (RTP) Iron Ore Chief Executive Sam Walsh said Tuesday that the company has recommenced studies on its multibillion dollar iron ore expansion in Western Australia after the recent mining tax deal with the Australian government. "We're in the process of re-opening
Read moreFOCUS: Australia Mining Tax: A Win-Win Deal With Just One Winner?
6th Jul 2010 02:35
(This report was originally published Monday) By David Fickling Of DOW JONES NEWSWIRES SYDNEY (Dow Jones)--Australian Prime Minister Julia Gillard may be claiming victory with her quick breakthrough over the contentious resources mining tax, but miners may end up having the last laugh wh
Read moreXstrata Restarts Investment In Queensland Coal Projects
6th Jul 2010 02:17
SYDNEY (Dow Jones)--Xstrata Plc's (XTA.LN) coal division will restart A$186 million of investment into its major development projects in Australia's Queensland state, the company said Tuesday. The work at Rolleston West, Sarum and Wandoan had been put on hold during the debate over the Australia
Read moreTepco Agrees $103/Ton Coal Supply Deal With Xstrata, Rio -Sources
6th Jul 2010 00:33
TOKYO (Dow Jones)--Tokyo Electric Power Co. (9501.TO) has struck separate agreements with Xstrata Plc (XTA.LN) and Rio Tinto Plc (RTP) to pay about US$103 per metric ton of thermal coal supplied from Australia in the year starting July, two traders close to the situation said. The total volume o
Read moreLondon midday: Stocks tread water
5th Jul 2010 12:17
The London stock market ended the morning little changed, with the general air of lethargy reinforced by the absence of any directional input from the US market, which is closed today. BP is the strongest blue chip on reports that the governments of Kuwait, China and Singapore could inject funds un
Read moreFOCUS: Australia Mining Tax: A Win-Win Deal With Just One Winner?
5th Jul 2010 11:46
By David Fickling Of DOW JONES NEWSWIRES SYDNEY (Dow Jones)--Australian Prime Minister Julia Gillard may be claiming victory with her quick breakthrough over the contentious resources mining tax, but miners may end up having the last laugh when the dust settles over the new provisions of the
Read moreLondon open: Slow start for Footsie
5th Jul 2010 08:42
Early gains for Footsie have disappeared quickly in the face of a poor start for the miners and the absence later on of Wall Street, closed for Independence Day. BP is one of the gainers on reports the governments of Kuwait, China and Singapore could inject funds under a £6bn plan designed to shore
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