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’Chinese coal and the business card paradox
Something was different at this year’s McCloskey Asia-Pacific Coal Summit, says Michael Parker at Bernstein:
Maybe it was the change of venue from Dalian to Beijing, but attendance by local Chinese participants was down and stage-rushing at the end of each presentation to hand out business cards was down too.
Oh no, now it’s mining tax contagion…
The list of dead and dying deals and loudly protesting companies in Australia’s resources sector is beginning to look very long, as FT Alphaville noted last week.
The companies, both foreign and domestic,
Australia’s super-controversial mining super-tax
The Australian government has not given up insisting that pigs fly that a planned 40 per cent tax on “super” profits generated by all resources operating on its soil is a Really Great Thing.
Even senior bureaucrats are now weighing in,
Peabody, Macarthur and Australia’s resources super-tax
A setback for the biggest M&A deal in Antipodean mining on Monday has intensified the furore over the Australian government’s plan to introduce a 40 per cent tax on mining profits.
As Bloomberg reports on Monday,
Mittal joins Goldman board, eyes Rio battle
Steel magnate Lakshmi Mittal is considering entering the takeover battle for Anglo-Australian iron ore producer Rio Tinto, say people familiar with his thinking, reports the FT. It also emerged at the weekend that Mittal,
ArcelorMittal ditches Macarthur Coal
What is going on with the Pacman of the steel world? On Monday it was all “go” for ArcelorMittal as the world’s biggest steel maker started the week at the centre of bid rumours about its designs on Australian coal producer Macarthur Coal.
ArcelorMittal plays ‘Pacman’ with Macarthur Coal
ArcelorMittal, the world’s largest steelmaker and the “Pacman” of the steel world, kicks off the week at the centre of bid speculation over Australian coal producer Macarthur Coal, after Macarthur’s largest shareholder,
ArcelorMittal buys Macarthur Coal stake
ArcelorMittal, the world’s biggest steelmaker, is seeking talks with Australian coal producer Macarthur Coal that may lead to a takeover worth at least A$4.4bn ($4.2bn) after buying a 14.9% stake, reports Bloomberg.