Charles Kernot News
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Rio Tinto Group, the second-largest mining company, reported first-half profit that missed analyst estimates as costs and currency gains in Australia and Canada hurt earnings. The shares fell the most in more than 13 months.
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Ferrexpo Plc, a producer of iron ore in Ukraine, rose in London trading after a newspaper reported on speculation that BHP Billiton Ltd. may propose a takeover bid.
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Coal of Africa Ltd., an Australian producer of the fuel, rose the most in more than 2 1/2 years after getting approval for its Vele project in South Africa, allowing work to resume at the site after environmental concerns led to an almost 12-month delay.
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BHP Billiton Ltd. may add to almost $23 billion spent since 2004 buying back stock as the world’s largest mining company seeks to deploy cash generated by record profit, analysts and investors said.
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Copper may fall in London, paring the first monthly gain since March, before reports that might show the U.S. economy expanded at about the same pace and consumer spending cooled.
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BHP Billiton Ltd. , Vale SA and Rio Tinto Group , the world’s three largest mining companies, are set for record profit totaling $52 billion as they accelerate earnings growth at the expense of their biggest customers.
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High school rugby coach Bob Markovich paid $3,812 for 250 shares of the Global X Copper Miners ETF in September. He got the idea from an investment club he advises for students, including his daughter Lydia.
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Antofagasta Plc , the copper producer controlled by Chile’s Luksic family, rose to a record in London trading as a slumping dollar lifted prices for the metal to the highest level in almost 27 months.
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The following are the day's top business stories:
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Coal of Africa Ltd. , a producer of the fuel in South Africa, rose the most in almost two years in Johannesburg trading as its Vele project gained a water license, moving the company closer to resuming output halted in August.
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