Rio Tinto Group, the world’s second- biggest miner, will probably pursue a $5 billion expansion of its iron ore output in Australia, Chief Executive Office Sam Walsh said, according to two people present at a meeting with investors and analysts.
A furnished two-bedroom apartment in Port Hedland, the world’s biggest bulk export terminal, on Australia’s cyclone-battered north-western coast rents for almost the price of a three-bedroom penthouse in Manhattan.
Santos Ltd. , the Australian energy company planning a liquefied natural gas project in Queensland state, may seek to raise as much as A$2.5 billion ($2.25 billion) selling shares, an analyst at Macquarie Group Ltd. said.
Japanese companies are buying natural gas assets and fields around the world, setting the nation on course to be the first of the 10 largest energy users to bet its future on a less-polluting fuel than oil or coal.
Woodside Petroleum Ltd. may get gas supplies from a field operated by Exxon Mobil Corp. to underpin an expansion of its $14 billion Pluto liquefied natural gas project in Western Australia, Macquarie Group Ltd. said.
Australian liquefied-natural gas projects planned by companies from Royal Dutch Shell Plc to Woodside Petroleum Ltd. and valued at about $100 billion are at risk from rising costs and cheaper U.S. exports.
Australian mining magnate Clive Palmer, who’s planning to build a modern replica of the Titanic, aims to start talks next year to sell stakes in a potential $8 billion natural gas project in Papua New Guinea.
Beach Energy Ltd. has held talks with “quite a few people” to help develop its shale gas fields in Australia, where prospects have already lured ConocoPhillips, the third-largest U.S. oil company, and Hess Corp.
Nexus Energy Ltd. rose the most since October 2008 in Sydney after the Australian newspaper said some shareholders were approached about a possible takeover bid. The company said it isn’t in talks and hasn’t received any offers.