miércoles, 15 de octubre de 2014

China's coal import tax disaster, Where iron ore is still priced at $108

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Australia News Digest
Thursday 16 October 2014
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The sudden reversion to protectionism is designed to save the local coal industry.

New research shows inland Chinese steel mills pay a 35% premium over seaborne benchmark with 210mt of steel capacity potentially looking for alternatives.

Australian winner of Booker Prize said the $80,000 award means he doesn't have to become a mine worker anymore.

The former Xstrata boss' new venture, X2 Resources, is "currently reviewing a number of opportunities in the metals and mining sector."

Despite iron ore prices touching rock bottom, the top three producers have no plans to slowdown production. Quite the contrary.

The Guardian and ABC News led with the remarks in its coverage.

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The US$3.4 billion project is expected to produce up to 5.5 million tonnes metallurgical coal per year and create 500 jobs in Queensland.

Is there any hope on the horizon for the gold funds?

It is unclear whether Mick Davis bid for all the assets that BHP ended up including in the new to-be listed firm.

Amongst the swathe of comment, reaction and analysis surrounding Glencore's attempted takeover of Rio Tinto – revealed recently but rebuffed back in August – there was little surprise that Glencore would attempt such a move.

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