Maneuvers in mines
Following the adoption of Australian tax on the profits of mining companies, the big names in resume their expansionist movement. Thus, the head of Rio Tinto's Sam Walsh, said further negotiations with the regulators in different countries to complete the planned reconciliation with rival BHP Billiton. Moreover, the multinational was considering expanding its new site for the Pilbara with an investment of 10 billion dollars. The Anglo-Australian group wants to increase its annual production of iron ore of 330 million tons within five years, against 230 million today.
Anglo American is activated
The Anglo-South African Anglo American sells, in turn, coal mines in Australia to a consortium of South Korea's Korea Electric Power Corporation (KEPCO) and POSCO, and the Australian Cockatoo Coal for 500 million dollars.Finally, Banpu, Thai producer of coal, wants to increase its shareholding in the Australian Centennial Coal, up 80% to $ 1.7 billion.
Many projects had been put between brackets, because of the uncertainty surrounding the new tax taxing up to 30% profits of mining groups.