BASIC MATERIALS

How will Asian markets perform in the coming days?

Asian regional markets are mixed in the last hours of trading in Australia, Singapore, and Japan as investors kept a "wait and see" attitude and bearish sentiments spilled from European and U.S. markets.

Australia's CBD Energy forms joint venture with Chinese firms

Australian renewable energy company, CBD Energy (ASX: CBD), has disclosed to the ASX it would finalise its joint venture with two of China's largest renewable energy companies and pursue A$6-billion worth of renewable energy projects in the coming years.
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Australia, Singapore: Least Tainted with Corruption--survey

Dealing with the government and private sector in countries Australia and Singapore were perceived to be the least tainted with corruption, a new survey made by Hong Kong-based Political & Economic Risk Consultancy, Ltd.'s (PERC) latest Asian Intelligence report indicated.

Japan gives out water; Work resumes at Fukushima

Japanese authorities will distribute bottled water to some 80,000 families dislocated by the earthquake as that tap water may not be safe for drinking in areas near the Fukushima nuclear plant.

Australian Parliament approves $5.6-B flood levy

The Australian Parliament has approved the Commonwealth Government's Flood and Cyclone Levy Bill, which has earmarked some $5.6 billion in funds for the reconstruction of severely damaged townships.

BHP Billiton pays out dividends

Mining giant BHP Billiton Ltd. (ASX: BHP) has announced dividends to be distributed to shareholders amounting to 45.935919 Australian cents.

Gunns Ltd's $2.5-B pulp mill gets green light

Integrated forestry company Gunns Limited (ASX: GNS) today announced the Federal Government had granted the final environmental approvals for the proposed Bell Bay Pulp Mills, estimated to require some $2.5 billion in investments.

Commodity exports: Australia will earn more

Sales from Australia's commodity exports are seen growing to $255 billion in the next 12 months to be driven by growing world demand, a report of the Bureau of Agricultural & Resource Economics & Sciences (ABARES) said today.

Higher commodity exports for Australia--study

Sales from Australia's commodity exports are seen growing to $255 billion in the next 12 months to be driven by growing world demand, a report of the Bureau of Agricultural & Resource Economics & Sciences (ABARES) said today.

Rio Tinto's Pilbara operations derailed by storms

Australia's third largest mining firm Rio Tinto has announced that production at its coastal operations in the Pilbara region continue to be hampered by ongoing weather issues associated with Tropical Cyclones (TC) Dianne and Carlos, that are likely to impact on shipped tonnage for the first quarter of this year.

Woodside Petroleum profits up by 7%

Australia's second biggest oil and gas producer Woodside Petroleum Ltd, has reported a 7 percent increase in profits to $1.58 billion in 2010 attributing it to high prices and record output at its North West Shelf natural gas project.

Volatile but positive year ahead for Australian agriculture

Australian agriculture looks set for a positive 2011 with agri-commodity prices expected to stay at elevated levels, but the sector must be prepared to manage a number of challenges, including increasing price volatility, according to a new industry report.

Paladin penetrates Canada via Aurora takeover

Uranium miner Paladin Energy Ltd (ASX:PDN) has initiated its uranium business in Canada and entered into a definitive agreement to purchase Aurora Energy Resources Inc., a wholly owned subsidiary of Fronteer Gold (TSX:FRG, AMEX:FRG).

Rio Tinto's NZ smelter slashes output by 5%

Anglo-Australian Rio Tinto (ASX: RIO) said production at its New Zealand Aluminium Smelters Ltd subsidiary was being cut by about 5 percent due to high electricity prices.

Conquest approves Mt Carlton mine development

Mineral explorer Conquest Mining Ltd (ASX: CQT) has given the formal approval for the development of the Mt Carlton Project in North Queensland following the positive results achieved in the project's optimisation study.

PanAust upgrades 2010 production guidance

PanAust Ltd (ASX:PNA) today increased its production guidance for 2010 to approximately 67,000 tones of copper at an average cash cost of less than US$0.90/lb of copper after precious metal credits, estimated from 60,000oz of gold and 500,000oz of silver in concentrate.

Rio Tinto, Ivanhoe Mines bury the hatchet

Anglo-Australian Rio Tinto (ASX: RIO) and Canada's Ivanhoe Mines have ended a long-running dispute between them after signing a new agreement under which Rio Tinto will assume direct management of the Oyu Tolgoi copper-gold project in Mongolia.

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