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Gold notched a fresh all-time high, as investor demand soared across the broader metals complex amid increasing optimism the US will cut rates this year.
The iron ore bonanza that has underwritten both the State and the nation since the start of COVID-19 may soon be over, according to stark warnings contained in both the WA and Commonwealth Budgets.
Major mining companies sailed into green figures on the ASX following the Federal Budget announcement on production tax credits.
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As Anglo American sets out a survival plan that echoes the vision of its suitor BHP, the rival mining bosses are now locked in a battle to convince shareholders they are the man for the job.
Anglo American plans to exit diamond, platinum, and coal mining in one of the biggest shake-ups in the company’s 107-year history, as the miner fields a takeover approach from its bigger rival BHP.
Miners who have been pushing for Government support to deal with volatile commodity prices, expensive build costs and project delays face an anxious wait to see what levers are pulled in Tuesday’s budget.
An analyst that correctly predicted BHP’s sweetened takeover offer would be rejected by Anglo American says the Big Australian needs to put a price tag of more than $72 billion on the English miner.
BHP says Anglo American has rebuffed an improved offer it made, which it claimed valued the company at £34 billion ($64.4b).
Fortescue and a contractor half-owned by a prominent fund manager are believed to be embroiled in a bitter battle over the eye-wateringly expensive fix of a leaky pipeline.
Iron ore’s recent mini-recovery can’t mask the fact that China’s push for a less property-intensive economy will keep demand subdued for years to come.
Chris Ellison says Mineral Resources will start its own airline and set up a $20-a-day childcare centre at its head office in a bid to recruit women for the miner’s workforce.
Talk of takeover has long swirled around 107-year-old Anglo American, once among the biggest mining companies in the world. But BHP’s interest should come as no surprise.
BHP has deployed a team of executives to South Africa as the world’s largest miner ramps up efforts to win over government officials, regulators and shareholders on its proposed tie-up with Anglo American.
Rio Tinto chair Dominic Barton has stressed the physical and operational demands of bringing new minerals into the fold, as the behemoth affirms ambitions of becoming a global force in copper.
The head of a US law firm that has set up shop in Australia says more class actions against BHP and other miners are likely.