BASIC MATERIALS

Queensland-based Macarthur Coal Limited (ASX:MCM) has seen profits tripling in fiscal 2011 as the higher demand for steel-grade coal grows and supply situation tightens further.

A jostle for stability and sustainable growth had been the direction of Australian businesses whether big or small in the last nine months, two separate research surveys conducted by the Westpac Banking Corp. and the National Australia Bank had shown.

Elders (ASX:ELD), an Australian based agribusiness company, today declared a positive start to the financial year as it nearly halved its annual net loss.

Australia's mining giant BHP Billiton is seen targeting oil and gas producer Woodside Petroleum Ltd. to make up for its failed bid for Canada's Potash Corp., a report by Morgan Stanley said.

Food and dairy company Goodman Fielder (ASX:GFF) formally scrapped plans to sell its $240 million edible fats and oils business to food group Cargill after the Australian competition regulator continued to oppose the deal.

XStrata Plc was able to secure a controlling stake equivalent to 51.12 percent in Sphere Minerals, while remaining rival China-backed Sin-Tang continues to tighten its grip in its shares in the company top up its holding.

Australian mining firms Brockman Resources Ltd. and Ferraus Ltd. have been offered A$929 million by Hong Kong firm Wah Nam International Holdings Ltd. to increase its shareholdings in the company.

The Australian Competition & Consumer Commission will carefully scrutinise the proposed takeover of ASX Ltd. by Singapore Exchange Ltd.

High-level talks between the United States and Australia will take place today as U.S. Secretary of State Hillary Clinton initiated discussions on China's monopoly of rare earths, which are used as key components in military systems.

Equinox Minerals Ltd., the Australian copper producer has turned in some $71.2 million profits in the third quarter as production at its Lumwana mine in Zambia increased.

Australian coal hauler and transporter QR National Ltd. has received keen interest from foreign investment managers for its $5 billion dollar initial public offering (IPO) before its formal offering on November 22

The weak US dollar will continue to fuel the higher prices of commodities considered as the next safest forms of investment.

The government of Australia may be willing to compromise and put up new concessions on its proposed minerals resource rent tax that will satisfy the country's mining industry.

Strativity Group, a leading provider of customer experience services, today announced it has opened an office in Sydney to support growing interest from Australian and New Zealand organisations in adopting customer-centric approaches and proactively managing their customer experiences.

The Queensland government has recently granted the approval to Xstrata Zinc Australia's expansion project of the George Fisher Mine in Mount Isa.

Mining firm Xstrata Plc has increased its offer price for iron ore developer Perth-based Sphere Minerals Ltd (SPH.AU) to $3 a share and declared the offer best and estimated at $514 million.

The Australian stock market is gathering mixed leads in today's trading day as the last-minute decline in the Wall Street trading will have some influence, but analysts are more optimistic.

The Australia Pacific LNG consortium of companies has advised relevant landholders, the Queensland Government, Western Downs Regional Council and Maranoa Regional Council of the results of chemical analysis of samples taken from water bores on properties where exploration wells that have recently been hydraulically fracture stimulated in the Surat Basin, west of Miles.

Australian Prime Minister Julia Gillard met with BHP chief executive Mr. Marius Kloppers on Wednesday in an effort to save the agreement signed with the mining industry now on the brink of collapse.

Uranium producer Paladin Energy Ltd has issued an estimated $A304-million worth of convertible bonds to re-pay maturing debt obligations and expand its mining areas in the country and in Africa.

A mixed performance of global stocks is seen to create a bearish mood in the Australian stock markets today.

Australia must prepare as early as now for the end of the mining boom or else feel the wrath of internal and external pressures on the monetary and fiscal situation of the country, Reserve Bank Governor Mr. Glenn Stevens said today.

Rio Tinto Ltd's (ASX:RIO) would still pursue its planned Oyu Tolgoi copper and gold project in Mongolia despite some strain with Canadian partner Ivanhoe Mines.

Chi-X Global Inc. is still set to work towards launching in March 2011, in spite the growing threat of a tougher competitive environment with the bid takeover of the Singaporean bourse of rival ASX Ltd.

Canadian Equinox Minerals Limited (TSX and ASX: EQN) ("Equinox") has announced that it has completed an agreement Australia's Resource Group Limited (ASX:CGG) ("Citadel"), under which Equinox proposes to acquire all of the issued and outstanding shares of Citadel by way of a recommended takeover offer (the "Offer"). The Board of Citadel has recommended unanimously that Citadel shareholders accept the Offer, in the absence of a superior proposal.

Foreign and local pension funds are eyeing Australian infrastructure projects as safe investments that could create good rates of return, the Royal Bank of Scotland Group Plc said.

Australia's biggest producer of gold Newcrest Mining Ltd. (ASX: NCM) has reported that its gold production in the first quarter went up by 79 percent to 674,219 ounces, the company said in a disclosure.

Business conditions in the Australian Commercial Property market improved in the third quarter ending September, driven by gains in the Office and Hotels segments, while conditions in the Retail and Industrial markets, however, remain negative, the National Australia Bank said in the report of its latest survey released today.

Australia's three top mining companies have called a meeting with the government to clarify the tax agreement seen on the brink of collapse.