BASIC MATERIALS

Leighton Asia secures 5 year Indonesia mining contract

Australia's largest project development and contracting group Leighton Holdings (ASX:LEI) said today that its wholly owned subsidiary Leighton Asia has secured a A$172 million contract for the provision of mining services at the Martabe Gold Mine in North Sumatra Province, Indonesia.

Australian, Japanese stock futures rise

Australian and Japanese and stock futures jumped as European banks hurdled the stress test reducing uncertainties that a global economic recovery is slowly happening.

Korea’s LS-Nikko takes stakes in Sandfire

LS-Nikko Copper Inc, a major Korean-owned copper smelting firm, has announced it will buy 12.5 per cent shares in Sandfire Resources NL, Australian minerals exploration firm, through a share placement worth $93.9 million.
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Businessmen call for intake of skilled outlanders

Australia's economy will deteriorate and inflation rise if the admission of skilled migrants is not maintained at least at its current level, according to some of the nation's most prominent business figures.

BHP downgrade amid gulf fears

Analysts have downgraded production forecasts, following global miner BHP Billiton's (ASX: BHP) fear that the Gulf of Mexico disaster will destroy the petrol growth prospects this year.

Petsec cuts production, revenue forecasts

Australia-based oil and gas explorer and producer Petsec Energy Ltd (ASX:PSA) has cut down its 2010 production and revenue projections to 4.0 Bcfe (billions of cubic feet equivalent) and $US28 million ($31.94 million) respectively.

Newcrest output climbs in June quarter

Australia's largest gold mining company Newcrest Mining Ltd (ASX:NCM) has reported a 26 per cent lift in gold production in the June quarter, boosted by record output at its Telfer and Gosowong sites.

Australian shares to open weaker

The Australian stock market is forecast to open lower, after major indices on Wall Street shed more than 1 per cent and the benchmark crude oil contract plunged below $US77 a barrel on the US Federal Reserve's dull outlook for the American economy.

BHP remains cautious on short-term outlook

Australia's mining giant BHP Billiton Ltd (ASX:BHP) says it remains cautious on the short-term outlook for the global economy, even after achieving record annual production results for its petroleum and iron ore divisions.

Migration to solve mining labour shortage

Australia's 35,800 trades job vacancy predicted in the mining sector by 2015 will likely be occupied by migrants as resource companies deal with the effects of not hiring the expected number of apprentices in an industry as big.

Chevron enters Wheatstone deals with KOGAS

Chevron says it has cut a deal with Korea Gas Corporation for the sale of gas and an equity stake in the massive Wheatstone project located about 90 miles off Carnarvon Basin in Western Australia.

Santos secures $2 billion loan for LNG projects

Santos has announced that is has secured a loan facility worth $2 billion from nine banks as it pushes ahead with its projects for liquefied natural gas in spite of the previous week’s environmental holdup.

Sundance’s Mbalam obtains approval

Sundance Resources Ltd's (ASX:SDL) Mbalam project has received environmental approval for from the Cameroon government in West Africa, according to the iron ore explorer.

Focus posts rich mining results

West Australian gold miner Focus Minerals (ASX:FML) has reported outstanding results from initial surface reconnaissance sampling at its Treasure Island tenement in Western Australia's eastern goldfields region.

Australian coal exports up in June

Australia's coal exports rose 10.1 million metric tons in June, as more demand from steel-making countries Brazil and India raises demand, according to data posted on the North Queensland Bulk Ports Corp.'s website.

Hundreds attend Talbot’s funeral

A multitude of family members and friends came together to bid mining magnate Ken Talbot farewell at a funeral service held at St John's Cathedral in Brisbane this morning.

Rio Tinto's iron ore slightly down

Rio Tinto Group, Australia's third largest mining firm, reported a lower iron ore production in the second quarter, a statement to the Australian Stock Exchange indicated.

IUCN, Rio Tinto forge 3-year collaboration

IUCN (The International Union for Conservation of Nature) and Australia's third largest mining firm Rio Tinto today entered into a formal collaboration agreement, committing to work together over a three-year period.

Dudgeon Point being studied for port expansion

NQBP Corp (North Queensland Bulk Ports Corporation), the government owned construction firm, has announced plans of exploring the viability of building a new Dudgeon Point export terminal, granting rights to Adani Group, an Indian construction firm, to head the project.

NSW expects great winter harvest

Due to large amounts of rainfall this May, farmers of New South Wales are expecting some record-breaking harvest amounts for this winter, the NSW government has said.

Stock market starts sluggish

A sluggish morning trading affected Australia's stock market S&P/ASX 200 Index as it declined 0.3 percent to 4,397.50 as of 12:48 p.m. in Sydney. New Zealand's NZX 50 Index shed off 0.3 percent to 3,004.56 in Wellington.

Asian stocks rally led by Japanese exporters

Asian stocks rose, led by Japanese exporters and commodity producers. The MSCI Asia Pacific Index rose 0.2 percent at 116.46 as of 1:03 p.m. in Tokyo, extending a two-day, 2.6 percent rally.

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