UPDATE: BHP, Rio Tinto Agree To Higher Australian Iron Ore Royalties
21st Jun 2010 09:58
(Adds comments by Western Australian Premier, Rio Tinto Iron Ore CEO, analyst) By Alex Wilson Of DOW JONES NEWSWIRES MELBOURNE (Dow Jones)--BHP Billiton Ltd. (BHP) and Rio Tinto Ltd. (RTP) said Monday they have agreed to pay higher royalties on their giant iron ore operations in Pilbara
Read moreLondon open: Footsie surges after China's currency move
21st Jun 2010 08:51
News over the weekend that China will relax its currency's peg to the dollar has sparked a rush into mining stocks. It's hoped the decision will boost reinvigorate the Chinese economy. Far East markets have already responded, with Japan up 2.5% and Hong Kong nearly 3%. All of the top ten risers s
Read moreBHP and Rio agree royalty hike in West Australia
21st Jun 2010 08:07
BHP Billiton and Rio Tinto have agreed to increase iron ore royalties at all their mines in Western Australia in order to smooth the passage of their US$116bn iron ore joint venture. The deal will see rates rise from 3.75% to 5.625% for fine ore and from 3.25% to 5% for beneficiated, or lower grade
Read moreMARKET TALK: BHP, Rio Agree To Higher WA Iron Ore Royalties
21st Jun 2010 08:02
0702 GMT [Dow Jones] BHP Billiton (BHP.AU) and Rio Tinto (RIO.AU) agree to pay higher royalties in Western Australia in a move that looks calculated to win support from the state government for their iron ore joint venture. The miners have signed a non-binding agreement to raise royalty rates to 5.6
Read moreBHP, Rio Tinto Agree To Higher Iron Ore Royalties In Western Australia
21st Jun 2010 07:32
MELBOURNE (Dow Jones)--BHP Billiton Ltd. (BHP) and Rio Tinto Ltd. (RTP) said Monday they have agreed to pay higher royalties on their iron ore operations in Pilbara region of Western Australia. While the agreement with the Western Australian state government isn't conditional on their planned ir
Read moreRio Tinto Expects Strong Coking Coal Demand, High Prices
21st Jun 2010 05:31
MELBOURNE (Dow Jones)--Rio Tinto Ltd. (RIO.AU) said Monday it expects metallurgical coal prices to remain high, driven by strong global demand which it expects to grow at about 3% a year out to 2020. In a presentation to analysts, Rio Tinto Coal Australia Managing Director Bill Champion also gav
Read moreNovelis May Bid For Rio Tinto Alcan Unit - Report
21st Jun 2010 05:19
MUMBAI (Dow Jones)--Novelis Inc.--the Canadian unit of India's Hindalco Industries Ltd. (500440.BY)--may bid for the rolled products division of Rio Tinto Alcan, the Economic Times newspaper reported Monday, citing people familiar with the development. The rolled products division of Rio Tinto A
Read moreAustralian Regulator Sets New Date For Ruling On BHP, Rio Iron Ore JV
21st Jun 2010 02:26
MELBOURNE (Dow Jones)--Australia's competition regulator plans to announce its findings on the proposed iron ore joint venture between BHP Billiton Ltd. (BHP.AU) and Rio Tinto Ltd. (RTP) on July 22. The Australian Competition & Consumer Commission had suspended the timeline for its review while
Read moreAustralia Minister: Tax To Ensure Fair Price For Non-Renewable Resources
21st Jun 2010 00:55
CANBERRA (Dow Jones)--The Australian government's planned new 40% tax on mining profits will ensure a fairer distribution of the proceeds of a mining boom than current state-based royalties schemes, Assistant Treasurer Nick Sherry said Tuesday. The comments come as BHP Billiton Ltd. (BHP) and Ri
Read moreAustralia May Detail Queensland Coal-Seam Gas Progress--Report
19th Jun 2010 03:07
SYDNEY (Dow Jones)--The Australian government could announce progress on development of Queensland's coal-seam gas industry during a visit by Chinese customers in coming days, the Australian newspaper reported Saturday, without citing its sources. The newspaper also quoted an memorandum to membe
Read moreUPDATE: China Baosteel Accepts 3Q Iron Ore Term Price-Source
18th Jun 2010 10:31
(Adds calculation parameters for third-quarter iron ore term price offers, background.) By Chuin-Wei Yap Of DOW JONES NEWSWIRES BEIJING (Dow Jones)--Baosteel Group Corp., China's appointed negotiator in iron ore price talks with global mining majors, has accepted a 23% increase in the ir
Read moreChina Baosteel Accepts Third Quarter Iron Ore Price -Source
18th Jun 2010 09:12
BEIJING (Dow Jones)--Baosteel Group Corp., China's appointed negotiator in iron ore price talks with global mining majors, has accepted a 23% increase in the iron ore price for third-quarter contracts, a person familiar with the matter said Friday. "Baosteel doesn't have much of a choice in the
Read moreUPDATE: Australian Miners Tax Campaign Irks Greens, Pension Lobby
18th Jun 2010 05:31
(Adds comments by pensions funds lobby, minerals industry lobby) By Ray Brindal Of DOW JONES NEWSWIRES CANBERRA (Dow Jones)--Elements of a campaign by Australia's mining industry against a proposed tax increase on mining super profits were criticised Friday by the Greens political part
Read moreUPDATE: BHP's Main Iron Ore Rail Line To Port Hedland Closed After Incident
18th Jun 2010 02:28
(Adds comments by Western Australian police) By Alex Wilson Of DOW JONES NEWSWIRES MELBOURNE (Dow Jones)--BHP Billiton Ltd.'s (BHP) main rail line transporting iron ore to Port Hedland in the Pilbara region of Western Australia has been closed after an incident early Friday morning in
Read moreAustralian Miners Tax Campaign Fraudulent - Greens Leader
18th Jun 2010 02:08
CANBERRA (Dow Jones)--A campaign by mining companies against a proposed tax increase on mining super profits is fraudulent and the industry risks losing public support the longer it continues, Greens leader in Australia's Parliament Bob Brown said Friday. "It's a fraudulent campaign by the big m
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