Wednesday, September 24, 2014

BHP-Mitsubishi axing 700 coal mining jobs

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Australia News Digest
Thursday 25 September 2014
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Companies said over-staffing in the current environment was threatening the viability of their Australian operations.

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Bubble chart shows heavy reliance on iron ore and oil for revenues and profits post demerger.

Top iron ore miner Vale expected claw back market share from Australian competitors thanks to its Serra Sul mine and use of Valemax mega-carriers.

New company would still have its primary listing in Australia, with secondary listings in South Africa and the UK.

Shanghai Metals Market warns slim profits and continuous declines in steel prices have dampened Chinese mills' appetite for iron ore.

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