Anglo American Plc’s decision to quit plans for a coal port expansion in Australia leaves Indian billionaires G.V. Krishna Reddy and Gautam Adani as the last major investors left looking at extending the terminal.
Indonesia should keep more resources such as natural gas at home to bolster its domestic industries, according to Aburizal Bakrie, who rates himself the favorite to win a presidential election to be held in July.
At one of the world’s largest coal mines in the Indonesian province of South Kalimantan, enough of the fossil fuel is being stolen every three days to fill a vessel almost the size of the Chrysler Building, according to two people with knowledge of the situation.
South African legislators said they plan to adopt changes to mining and oil laws before Parliament adjourns ahead of May 7 elections, overriding industry concern that the measures are ill-considered and will deter investment.
Investors are the most bearish on Australian stocks since 2007 after last month’s rally pushed up valuations by the most since April and the central bank signaled a reluctance to add stimulus to the economy.
BHP Billiton Ltd., the world’s biggest mining company, sees international development of shale- gas resources continuing to trail the production boom in the U.S. in part because of a lack of infrastructure.
Glencore Xstrata Plc Chief Executive Officer Ivan Glasenberg said the world’s fourth-biggest mining company remains in talks with China Minmetals Corp. for an asset that’s been valued at more than $5 billion.