Any talk of a currency war is overblown,said Australian Treasurer Wayne Swan.Market-based exchange rates,fiscal and monetary policy supporting economic growth and jobs is the G-20 approach.
Everyone else has a stake in the US achieving economic growth.What we really want to hear is certainty,not policy uncertainty and regulatory uncertainty.That's the climate we need.
David MacLemore,Chairman and Interim CEO of mineral exploration firm Boart Longyear said we're seeing some pricing pressure,but overall it's starting to stabilise and we're confident in the guidance.We're a global player with 30-35% of our business in Australia.
It's a general mining industry cost reset.It doesn't feel like a cyclical downturn.
Boart Longyear is a Utah-based company that provides drilling services and products.
The basic problem in Australia is,the mining sector has driven growth,according to Shane Oliver of AMP Capital Investors.We can't rely on that anymore.At the same time,the rest of the economy is relatively soft.
The Bank of Japan said the economy is relatively weak,but Japan will return to a moderate recovery path.
The share market in Japan is maybe telling us something.I think there's a good chance it's telling us in twelve months' time the economic measures are starting to work.The Japanese government has started down the right track and the share market reflects that.So far,it's up about 10% this year.We could see it rise 30%.
In early Tuesday trading,the Nikkei index was down 2.12%,and the ASX 200 declined 0.80%,on concerns about political gridlock in Italy.
Boart Longyear(ASX:BLY),iShares Japan Index Fund(EWJ),iShares Australia Index Fund(EWA)
Showing posts with label mining industry. Show all posts
Showing posts with label mining industry. Show all posts
Tuesday, February 26, 2013
Monday, March 5, 2012
SunCoke Energy Gets Positive Reception
Since January 17,SunCoke Energy has been independent of its parent Sunoco.The coking coal miner and producer of metallurgical coke was viewed positively on Wall Street.Key Banc Capital Markets initiated coverage of the spinoff with a Buy rating, and Oppenheimer initiated with an Outperform.Both analysts gave SunCoke a 15 dollar a share price target.
SunCoke originated in Virginia in the early 1960s.Today it works two mines in Virginia and West Virginia with more than 100 million tons of proven and probable coking coal reserves.This coal is fed into five coke plants in Virginia,Indiana,Ohio,Illinois and Vitoria,Brazil,making SunCoke the largest independent producer of high quality metallurgical coke in the Americas,with a total U.S. cokemaking capacity of about 4.2 million tons a year,and a global capacity of more than 5 million tons a year.This solid state carbon product is provided to integrated steelmakers with blast furnace technology.For example,SunCoke's new Middletown,Ohio plant will be supplying AK Steel with its coke needs.
Besides producing metallurgical coke,the plants utilize heat recovery technology to make steam for electric power generation.All applicable environmental standards are being met or exceeded at its coke plants,the company says.
Frederick "Fritz" Henderson,an old General Motors hand,is CEO of SunCoke.Mr.Henderson has an MBA from Harvard Business School and is a Trustee of the Alfred P. Sloan Foundation.
SunCoke Energy(SXC)
SunCoke originated in Virginia in the early 1960s.Today it works two mines in Virginia and West Virginia with more than 100 million tons of proven and probable coking coal reserves.This coal is fed into five coke plants in Virginia,Indiana,Ohio,Illinois and Vitoria,Brazil,making SunCoke the largest independent producer of high quality metallurgical coke in the Americas,with a total U.S. cokemaking capacity of about 4.2 million tons a year,and a global capacity of more than 5 million tons a year.This solid state carbon product is provided to integrated steelmakers with blast furnace technology.For example,SunCoke's new Middletown,Ohio plant will be supplying AK Steel with its coke needs.
Besides producing metallurgical coke,the plants utilize heat recovery technology to make steam for electric power generation.All applicable environmental standards are being met or exceeded at its coke plants,the company says.
Frederick "Fritz" Henderson,an old General Motors hand,is CEO of SunCoke.Mr.Henderson has an MBA from Harvard Business School and is a Trustee of the Alfred P. Sloan Foundation.
SunCoke Energy(SXC)
Sunday, July 10, 2011
Asia This Day:Carbon Tax Dust-Up in Sydney
Sydney is in an uproar over the Labour government's carbon tax proposal.Prime Minister Julia Gillard said we will require about 500 big polluters to pay a price per ton of pollution emitted into our atmosphere.Opposition leader Tony Abbott dismisses the idea,saying it will drive up prices,threaten jobs and do nothing at all for the environment.Millions will be worse off.
Industry is likewise up in arms.The mining and coal sectors call the proposal a job-killer.Companies feel that it puts them at a disadvantage.On the other hand,the green energy industry hails it as a wonderful opportunity.
The ASX 200 index was down substantially Monday as stocks reacted to the carbon tax,as well as Chinese inflation and Wall Street's Friday decline.
Sydney saw partly cloudy conditions Monday afternoon.It was 61F,with winds W at
14 mph and humidity of 27%.
Industry is likewise up in arms.The mining and coal sectors call the proposal a job-killer.Companies feel that it puts them at a disadvantage.On the other hand,the green energy industry hails it as a wonderful opportunity.
The ASX 200 index was down substantially Monday as stocks reacted to the carbon tax,as well as Chinese inflation and Wall Street's Friday decline.
Sydney saw partly cloudy conditions Monday afternoon.It was 61F,with winds W at
14 mph and humidity of 27%.
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