Australian mining companies are prolonging a supply glut that’s driven coal prices to a four- year low because of freight contracts that make it cheaper to ship at a loss than to cut output.
A spinoff of BHP Billiton Ltd.’s least-loved assets may do little for shareholders of the world’s largest mining company.
BHP Billiton Ltd., the world’s biggest mining company, raised its full-year iron ore production guidance after third-quarter output gained 23 percent to beat analyst expectations.
Asian stocks rose for the first time in four days amid a rally in telecommunication shares and as investors weighed prospects for stimulus after China’s economic growth slowed to the weakest pace in six quarters.
Canadian stocks rose a second day after a report that BHP Billiton Ltd. may make another bid for Potash Corp. of Saskatchewan Inc., while gold producers fell on lower metal prices.
Options traders and analysts agree with short sellers on Leighton Holdings Ltd.
Vale SA secured 6.2 billion reais ($2.8 billion) of funding from Brazil’s state development bank for expansions at Carajas, the world’s largest iron-ore complex.
The plunge in coal prices that’s put smaller competitors into bankruptcy is alarming Alpha Natural Resources Inc. bondholders as the second-largest U.S. producer consumes more cash than ever before.
Jo Townsend, who manages A$28 billion ($26.3 billion) in pensions for Australian retail workers, allocated almost all new equity investments in 2013 offshore. That’s a departure from two years ago.
The world is mining more iron ore than steelmakers need.
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