Australia PM To Announce Revised Resource Tax - Report
1st Jul 2010 22:31
SYDNEY (Dow Jones)--The Australian government is expected early Friday to announce two new tax regimes to replace the original proposal for a resource super profits tax--one for the petroleum industry and another for coal and iron ore--says a report in the Australian Financial Review. Prime Mini
Read moreCORRECT: UPDATE:Chalco Shelves A$3B Aurukun Bauxite Alumina Project
1st Jul 2010 22:09
("=UPDATE: Chalco Shelves A$3B Aurukun Bauxite Alumina Project," at 0424 GMT, misstated the size of the investment in the final paragraph. The correct version follows:) By Alex Wilson Of DOW JONES NEWSWIRES MELBOURNE (Dow Jones)--Aluminum Corp. of China Ltd. (ACH), or Chalco, has shelv
Read moreHEARD ON THE STREET: Vallar's Acquisition Challenge
1st Jul 2010 17:17
By Matthew Curtin A DOW JONES COLUMN For a well-connected financier like Nat Rothschild, raising at least GBP600 million for his new mining acquisition vehicle, Vallar, in the midst of a tough IPO market may prove the easy part. The challenge for the 38 year-old member of the banking dynasty
Read more3rd UPDATE: Australian Government Announcement On Mining Tax Likely Friday - Source
1st Jul 2010 12:59
(Adds prime minister's office saying press conference will be held at 2230 GMT) By Alex Wilson and David Fickling Of DOW JONES NEWSWIRES MELBOURNE (Dow Jones)--The Australian Government has made progress in talks with the nation's three biggest miners on a compromise on a controversial
Read more2ND UPDATE: Australian Government Announcement On Mining Tax Likely Friday - Source
1st Jul 2010 09:58
(Adds comment from Gindalbie CEO and person familiar with the situation) By Alex Wilson and David Fickling Of DOW JONES NEWSWIRES MELBOURNE (Dow Jones)--The Australian Government has made progress in talks with the nation's three biggest miners on a compromise on a controversial new mi
Read moreAussie mining tax deal imminent
1st Jul 2010 09:35
Reports in the Australian press indicate that the Australian government is close to striking a deal with mining companies over the proposed introduction of a resources super profits tax. BHP Billiton, Xstrata and Rio Tinto have reportedly agreed a deal with the government that is thought to be a wa
Read moreUPDATE: Australian Mining Stocks Jump On Tax Deal Report
1st Jul 2010 08:02
(Adds comment from Fortescue spokesman, analyst and mining lobby group) By Alex Wilson and David Fickling Of DOW JONES NEWSWIRES MELBOURNE (Dow Jones)--Australian mining stocks rallied Thursday on a report that the federal government had made significant progress in reaching a deal wit
Read moreMARKET TALK: Aussie Mining Tax Report A Big Industry Win -Analyst
1st Jul 2010 06:36
0535 GMT [Dow Jones] A reported deal between the mining industry and the Australian government on a revised mining tax looks to be a major win for the industry, Morgan Stanley analyst Craig Campbell says. The Age newspaper, without citing sources, says the government has agreed to increase the rate
Read moreMARKET TALK: S&P/ASX 200 Bounces On Report Of Tax Progress
1st Jul 2010 06:04
0503 GMT [Dow Jones] S&P/ASX 200 down 1.4% at 4244.0, recovers from 4217.2 as The Age reports Australia's government, miners have made significant progress in talks about mining tax compromise and are on the brink of agreement. Report says issues agreed include creation of new trigger point for the
Read moreAustralian Government Makes Progress In Tax Talks With Miner - Report
1st Jul 2010 05:47
MELBOURNE (Dow Jones)--The Australian Government has reportedly made significant progress in its talks with Australia's three biggest miners over its planned Resource Super Profits Tax. The Age newspaper, without citing sources, said Thursday that BHP Billiton Ltd. (BHP.AU), Rio Tinto Ltd. (RIO.
Read moreUPDATE: Chalco Shelves A$3B Aurukun Bauxite Alumina Project
1st Jul 2010 05:24
(Adds comment from Chinalco Vice President and Queensland Premier) By Alex Wilson Of DOW JONES NEWSWIRES MELBOURNE (Dow Jones)--Aluminum Corp. of China Ltd. (ACH), or Chalco, has shelved its planned A$3 billion Aurukun bauxite and alumina project in the north of Queensland state, citin
Read moreMARKET TALK: S&P/ASX 200 Down 1.8%; Hits Fresh 6-Week Low
1st Jul 2010 03:10
0210 GMT [Dow Jones] Australia's S&P/ASX 200 down 1.8% at 4224.9, hits fresh 6-week low of 4214.7 after China PMI data failed to impress the market. Risk assets are down across the region, with Nikkei stock average down 1.5%, AUD/USD down 0.8% and S&P 500 futures down 0.7% since the NY close. Heavyw
Read moreMARKET TALK: Rail Access Ruling A Negative For BHP, Rio - ML
1st Jul 2010 02:01
0101 GMT [Dow Jones] The Australian Competition Tribunal's ruling on rail access is a negative for BHP Billiton (BHP.AU)and to a lesser degree Rio Tinto (RIO.AU), Merrill Lynch says. "If ultimately allowed, BHP and Rio would have to 'make room' on the respective iron ore systems for 'new entrants' a
Read moreMARKET TALK: S&P/ASX 200 Down 1%; Nervous Before China PMI
1st Jul 2010 01:34
0034 GMT [Dow Jones] S&P/ASX 200 down 1.0% at 4260.2 in nervous trading before China PMI manufacturing data at 0100 GMT. Index hit early low of 4250.2, holding Wednesday's low at 4249.5. Most sectors are down on the back of U.S. peer weakness, with major banks down 0.8%-1.2%, Macquarie (MQG.AU) down
Read moreMARKET TALK: S&P/ASX 200 Leads Mixed; SPI Up 0.5%
1st Jul 2010 00:39
2339 GMT [Dow Jones] S&P/ASX 200 offshore leads mixed, with overnight SPI 200 futures up 22 points, or 0.5%, at 4237.0 despite Wall Street's further decline on disappointing U.S. economic data. DJIA down 0.4% at 9732.53, S&P 500 down 0.3% at 1027.37, Nasdaq down 0.4% at 2101.36. However, major U.S.
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