Cameron Morse News
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Lynas Corp., the Australian company building the world’s largest rare earths plant in Malaysia, rose the most since January as the Southeast Asian nation’s government extended its 55-year rule.
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Lynas Corp., the Australian company building the world’s largest rare earths plant in Malaysia, fell in Sydney trading on the dimming outlook for prices and concern its permit may be reviewed should the opposition wrest power in the coming Malaysian elections.
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Fortescue Metals Group Ltd. , Australia’s third-biggest producer of iron ore, will return to the bond market to raise funds for an $8.4 billion expansion to be finalized today, Merrill Lynch & Co Inc. said.
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Rio Tinto Group lodged an appeal against an Australian competition tribunal ruling that said the world’s second-largest iron ore exporter must allow rivals to use one of its railways.
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Two cyclones in Australia’s north have caused storms and flooding, affecting mining and energy projects for companies including Rio Tinto Group and Woodside Petroleum Ltd.
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Xstrata Plc , the world’s largest exporter of thermal coal, placed all its projects in Australia under review, adding pressure on the government to change its proposed 40 percent tax on mine profits.
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Fortescue Metals Group Ltd. is “deeply disappointed” after a court ruled that Australia’s third-biggest iron ore miner and its Chief Executive Officer Andrew Forrest misled investors over accords with China.
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Leucadia National Corp., the third- largest shareholder of Australia’s Fortescue Metals Group Ltd. , said it filed a summons against the iron ore mining company and Chief Executive Officer Andrew Forrest .
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The Minerals Council of Australia , whose members produce more than 85 percent of the nation’s output, plan to meet Treasury officials this week for talks on the government’s 40 percent resources profit tax proposal.
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Rio Tinto Group faced cyber attacks from China at about the time of the arrest of four executives in the country, while BHP Billiton Ltd. and Fortescue Metals Group Ltd. have also been hit, Australian Broadcasting Corp. reported.
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