MANUFACTURING

The Queensland government is seeking a new contract with Chinese aluminium producer Chalco, but may exclude a bauxite mine, which was part of the original deal.

Metal producers welcomed the possibility that they may be exempted from the Gillard government's modified resource super-profits tax, arguing that they deserved to be treated differently to bulk commodities coal and iron ore.

Australian Prime Minister Julia Gillard will hold a news conference in Canberra early Friday to announce a deal between the government and big miners has been struck, ending a dispute that removed her predecessor from office.

Leighton Holdings has cut deals in India worth $US550 million ($653.5 million). The construction and contract mining group disclosed it had been awarded two infrastructure projects: the Chenani-Nashri road tunnel in Jammu, northern India and the Vizag Port expansion.

Australian mining firm Indophil Resources NL has committed to continue developing its Tampakan copper-gold project in the Philippines.

Perth-based Macmahon Holdings announced today that as an alliance consortium member, it has been awarded a $50 million share of a $112 million rail contract extension by the New South Wales Government.

More than 200 experienced dairy workers will get laid off after National Foods announced that it would shut down its western Sydney plant.

Declaring that negotiations with the mining industry members are "good," Australian Prime Minister Julia Gillard will likely unveil a compromise with the sector on its planned tax measures.

Australian Prime Minister Julia Gillard will make an announcement on July 2 regarding a possible election in August, the Australian Broadcasting Corp. cited on its website.

Asian markets have started with an early rebound on Tuesday led by finance and mobile phone makers. Its disclosure that it will buy back shares allowed Tokio Marine Holdings Inc. to gain 1.7 percent. Nippon Telegraph & Telephone Co., on the other hand, rallied 1.2 percent after it reported that its unit NTT Finance Corp. expects its first operating profit in three years.

Japan has recorded an unexpected 5.2 percent increase in its unemployment rate further weakening household spending for the second month.

Futuris Automotive, the largest supplier of Holden, discloses it will be capable of returning a second shift at its Adelaide plant, in line with Holden’s move of resuming afternoon shifts at the automotive factory in Elizabeth.

Shares of Iron Ore Holdings Ltd., fell as much as 21 percent to A$1.395 on the Australian stock exchange and traded at A$1.475 at 12:04 p.m. Sydney time.

Ford Australia chief Marin Burela is in drive for a greener Ford Territory and more fuel efficient power in its Landmark Falcon, believing that these are among the initiatives that will uphold the company's fortunes in Australia.

Kingsgate Consolidated Ltd has announced Thursday that it has been granted tax concessions by the Thai government for its new processing plant at the company’s flagship Chatree gold mine in Thailand.

Construction and engineering company Valemus Ltd said today that recent declines on the Australian Stock Exchange (ASX) have effectively slashed the value of its planned listing as its German parent company pushes its sale through an initial public offering (IPO) with value of up to $1.39 billion.

Western Plains Resources Ltd has announced Monday that it is set to sell nine million tonnes of iron ore over the next five years from its South Australian Peculiar Knob project, with a definite agreement to be inked within months.

Alumina Ltd said Thursday that the current alumina pricing system is out of sync with industry fundamentals and contract pricing would eventually transition to spot pricing, which poised to deliver further benefits both to the company and the industry.

Tata Motors of India has announced on Wednesday that the world’s cheapest car, the Nano, would again started rolling out from its new western India plant following the company’s forced desertion of its near-completed factory in Singur, West Bengal which was marred by violent land ownership dispute in 2008.

The Australian Competition and Consumer Commission (ACCC) has announced today on its official website that Mitsubishi Motors is set to recall up to 42,525 units of Triton utes citing potential problems on the vehicles’ suspension bolts.

Rio Tinto Ltd confirmed reports that it has reached iron ore price agreement with big Asian steel mills for April to June as a company representative clarified that China was not part of the closed deal, with price appreciations that could reach up to 90 percent according to industry experts.

Construction materials supplier Adelaide Brighton Ltd has admitted Wednesday that it is facing numerous challenges on multiple fronts which include the volatile foreign exchange issues, high cost pressures and brewing stiff competition from imported limes.

Origin Energy and BG Group have jointly informed the Australian Petroleum Production and Exploration conference held in Brisbane today that they will reveal by the end of the year if the planned multi-billion dollar liquefied natural gas (LNG) project in Queensland would push through.

Bradken Ltd kicked up on Tuesday its annual earnings guidance from the previous financial year of $169.1 million and revealed that it will raise $65 million to buy Canada’s Almac Machine Works as it hopes that better turnovers from its rail division would help propel the company beyond the profits it had amassed last year.

The $361.5 million takeover bid by a Japanese company for CBH Resources Ltd is fair and square, that according to Grant Thornton Corporate Finance Pty Ltd, which further described the offer as more beneficial and superior in favour of CBH on its published findings on Monday.

Construction and energy biggie Leighton Holdings Ltd has reported on Monday that company net profit jumped by 82 percent as it listed an after tax earnings of $400.3 million in the past nine months ending in March 31 this year and subsequently reaffirmed its full year earnings guidance.

Northern Iron has reported Friday that its troubled Sydvaranger iron ore project in Norway will be re-commissioned ahead of schedule as solutions that would solve the site’s problems are well underway.

Taseko Mines Limited and Franco-Nevada Corporation completed a deal that will see Franco-Nevada buying at least 22% of the life of mind gold to be produced by Taseko from its planned Prosperity Gold and Copper mine in British Columbia.

Alumina Ltd has reported Friday that market outlook for 2010 is far better though still falling short on levels seen in 2008, as chief executive John Bevan told shareholders gathered for a general meet in Melbourne that company outlook this year is much more positive for the market.