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.
Vedanta Resources Plc rose to the highest level in two weeks in London after hiring former Rio Tinto Group Chief Executive Officer Tom Albanese as the India- focused metal and oil producer seeks a global presence.
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.
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.
Zimbabwe’s Parliamentary Legal Committee said the country’s Sovereign Wealth Fund Bill doesn’t contravene the constitution, paving the way for the adoption of legislation that could see the fund allocated as much as a quarter of mining royalties.
Glencore Xstrata Plc, the world’s fourth-biggest mining company, is studying separate deals with Rio Tinto Group and BHP Billiton Ltd. in Australia to reap cost savings at struggling coal and nickel operations.
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.