BASIC MATERIALS

Australian mining firm Indophil Resources NL is most certain that a Philippine-based partner for their world-class mining reserve project is the way to go.

The Australian stock market is seen to benefit from the gains of the S&P 500 index and futures, which both bounced back reflecting the Federal Reserve's decision to ease up on its fiscal policy.

Shares of ASX-listed mining firm Conquest Mining (ASX: CQT) has steadily climbed with the lifting of its trading halt that coincided with its announcement of securing a $45 million institutional placement.

Investments in gas-fired power plants may double and reach close to $15 billion in the near term if Australia starts to implement a stiff price on carbon emissions, Fitch Ratings said.

Australia's S&P/ASX 200 is expected to ease from its early rally this week, as investors are wary of China's economic performance. Analysts said though there will be a positive push from the turn of events in the US with the Federal Reserve's decision to temper its fiscal policy, this will not easily avert the dampened mood that may set in today.

Australia's economic growth may be eroded by local banks' preference toward household lending over business loans, a National Australia Bank Ltd. executive warned.

As the country struggles to retain its global competitiveness but retaining its current energy production levels to sustain local industries, the Australian Parliament has chosen to put a price on coal emissions.

Business confidence remains high albeit a very slight tinge of wariness in the country's business sector. This is according to the latest of the National Australia Bank's quarterly business survey published today.

Australian mining firm Indophil Resources NL jumped to the highest in 10 months in the ASX after one of the Philippines' s largest conglomerate San Miguel Corp. agreed a share placement worth $40-million in the company on October 8.

Deputy Governor Ric Battelino of the Reserve Bank of Australia is optimistic that there would be turnaround in the property and real estate sectors as an encouraging shift of financing models will pave the way for future growth.

Local stocks pulled back slightly today, but still mirrored the weakness of Wall Street as the benchmark S&P/ASX200 index was down 10 points, or 0.21 per cent, at 4,681.3 points, while the broader All Ordinaries index had eased 5.9 points, or 0.12 per cent, to 4,740.3 points.

The Rio Tinto (ASX: RIO) Board of Directors have not made any final decisions whether to pursue or not their planned iron ore venture with BHP Billiton (ASX: BHP) in Western Australia seen to earn and save the companies billions of dollars.

BHP Billiton Ltd. (ASX: BHP) and Rio Tinto Group (ASX: RIO) has sought a little more time from the competition regulator in order for them to submit another set of documents to make their proposal more viable.

The commodities futures market has shown a strong, steady performance despite the existing global market volatilities, which analysts said were still part of the crisis aftershocks.

Leighton Contractors has been awarded a contract by Chevron Australia to deliver the civil and underground works package for the Gorgon Project valued at more than $800 million, the company said in an issued statement today.

The wave of mergers and acquisitions (M&A) is beginning to improve as the financial reforms have begun to take shape in the last six months.

Investors and analysts have opened fire on the remuneration structure of Paperlinx.

Australia has raised its commodity exports target this fiscal year as larger demand for coal, iron ore, and wool are now at its record high assuring higher prices for domestic exporters.

The Australian Parliament would likely change its tact on carbon emissions in the next three years.

Australia will play a key place in meeting a potential global shortfall in the supply of uranium, which is emerging as a worldwide energy solution, according to an Adelaide-based uranium miner.

Australian gold company Cleveland Mining today announced it has secured mining heavy-weight Donald Bailey as a non-executive director.

Resource giant Rio Tinto Ltd (ASX:RIO) announced on Monday it is midway through a share buyback program designed to simplify its dual-listed structure.

Willmott Forests has been placed in receivership by its bankers, emulating the downward spiral of collapsed managed investment scheme (MIS) operators Timbercorp and Great Southern.

Miners are threatening to restart anti-tax campaign, potentially bringing back the controversy over the government's resource levy.

The Federal Department of Environment, Water, Environment, and the Arts has given the nod for the construction of the biggest coal gasification and storage plant in the world.

Fortescue Metals Group (ASX: FMG) today denied claims it breached a funding agreement with a New York hedge fund that owns 8 per cent of the iron ore miner.

Fortescue Metals Group (ASX: FMG) and its chief executive Andrew Forrest are being sued by top US investor Leucadia National (NYSE:LUK) for alleged "misleading and deceptive conduct".

Port and rail assets firm Asciano Group (ASX: AIO) is competing for all three parcels of the the mineral resources co-operative CBH Resources Limited (ASX: CBH).

More incentives for farmers would be a reward for increased production.