Edison Investment Research Ltd. hired three analysts in Australia and New Zealand to cover financials, energy and industrial companies as the London-based provider of research expands its team of 110 people globally.
Queensland’s government opened the initial share sale of its coal freight network, an offer that may be worth about A$7 billion ($6.5 billion) and become Australia’s largest since Telstra Corp. in 2006.
Record coal deals this year have slashed the number of potential targets in Australia, the world’s largest exporter. The combination of Whitehaven Coal Ltd. and Aston Resources Ltd. looms as the last prize standing.
Peabody Energy Corp. is leaving the door open for a rival bidder to step in for Macarthur Coal Ltd. by offering less for the Australian mining company than it did last year, even as profit is projected to double.
Australia’s mining tax agreement may face a High Court challenge on the grounds that it could be unconstitutional, said Constellation Capital Management Ltd., which owns shares in BHP Billiton Ltd. and Rio Tinto Group .
Rio Tinto Group , the world’s third- largest mining company, is confident Australia’s mining tax issue will be resolved even after the government said it won’t offset any future increase in royalties demanded by states.
Electrician-turned-miner Nathan Tinkler, Australia’s youngest billionaire who yesterday agreed to sell his coal assets for A$2.6 billion ($2.6 billion) in stock, is looking for his next mining deal overseas.
Australia’s mining stocks rose and the currency ended two days of losses against the yen as Prime Minister Kevin Rudd was forced out by his deputy, sparking speculation the government may change a proposed mining tax.
BHP Billiton Ltd. may resort to share buybacks for the first time in three years after Canada blocked its bid for Potash Corp. of Saskatchewan Inc., leaving BHP facing a tally of $100 billion in abortive deals since 2008.