Posts by Business Spectator:

Banks, miners lead market recovery in Aus

Financial and resources stocks led the local sharemarket's remarkable recovery at noon, with a number of blue chips trading at more than four per cent stronger. The big four banks made impressive gains, with Commonwealth Bank lifting 2.34 per cent to $48.09 after it reported a lift in full year cash profit.
Business Spectator | August 10, 2011 | 2:45 am

Xstrata profits jump 27%, expects even better second half

Anglo-Swiss mining giant Xstrata said on Tuesday its first half net profit jumped 27 per cent to $US2.9 billion and that it expected even better earnings for the second half. "A substantially stronger financial performance in the first half reflected growing demand for our products from emerging Asian economies and recovering Western markets," Xstrata chief executive Mick Davis said in a statement.
Business Spectator | August 2, 2011 | 1:43 pm

AngloGold Ashanti to update guidance

AngloGold will this week update its full year gold production guidance after heavy rain earlier this year caused output to fall at its Sunrise Dam mine in WA. The rain in February flooded the underground operation, triggering a wall collapse and causing
Business Spectator | August 2, 2011 | 1:43 pm

Murchison posts better iron ore production

After a horror few months for Murchison Metals, the Pilbara iron ore miner has at least posted positive production and shipping results. Murchison was forced to admit last month it didn't have the funds for the $5.94 billion stalled Oakajee port and rail
Business Spectator | July 29, 2011 | 11:00 am

Downer wins Xstrata coal contract

Downer EDI Ltd has secured contract worth more than $400 million with mining giant Xstrata Coal for development of a coal handling and preparation plant (CHPP) at its Ravensworth North Coal Project. The project, expected to secure over 400 jobs in the
Business Spectator | July 26, 2011 | 11:42 am

Rio workers return to work in Namibia

WINDHOEK - Workers at Rio Tinto Ltd's Rossing uranium mine in Namibia have returned to work after a three-day illegal strike, the company said, while talks to resolve the wage dispute are set to resume. "The strike is over and the workers are back at
Business Spectator | July 18, 2011 | 9:18 am