By Anjuli Davies and Clara Ferreira-Marques. LONDON, April 29- With the world's largest miners flocking to sell assets, cost cuts across the industry and a virtual drought in buyers, private equity funds may finally be tempted into a sector long seen as potentially lucrative but risky.
SYDNEY, April 29- Australian shares rose 0.6 percent to its highest close in seven weeks on Monday, led by strong gains in the banking sector as investors chased high yielding stocks in a session characterized by some caution after Friday's disappointing U.S. first-quarter growth figures.
SYDNEY, April 29- Australian shares rose 0.6 percent to its highest close in seven weeks on Monday, led by strong gains in the banking sector as investors chased high yielding stocks in a session characterized by some caution after Friday's disappointing U.S. first-quarter growth figures.
MELBOURNE, April 29- BHP Billiton has agreed to sell its Pinto Valley copper mine and a railroad in Arizona to Capstone Mining Corp for $650 million, reaping far more than expected as the top global miner tightens its belt in a weaker market. Pinto Valley takes BHP's total asset sales over the past 12 months to $5 billion.
National Australia Bank jumped 1.3 percent, while Westpac Banking Corp climbed 1.2 percent. BHP Billiton has agreed to sell its Pinto Valley copper mine and a railroad in Arizona to Capstone Mining Corp.
MELBOURNE, April 29- BHP Billiton has agreed to sell its Pinto Valley copper mine and a railroad in Arizona to Capstone Mining Corp for $650 million, the latest in a spate of asset sales by the top global miner as it tightens its belt in a weaker market. Pinto Valley takes BHP's total asset sales over the past 12 months to $5 billion.
SYDNEY, April 29- Australian shares edged 0.4 percent higher on Monday morning led by the financial sector, but gains were capped by weakness in metals prices and disappointing U.S. first-quarter growth figures. Top lender the Commonwealth Bank of Australia.
CONAKRY, April 27- Patrice Motsepe, the South African mining magnate and executive chairman of African Rainbow Minerals has plans to invest in Guinea's iron ore industry, he told reporters after meeting Guinea's president Alpha Conde on Friday.
SYDNEY, April 26- Australian shares reversed earlier gains to finish the session 0.1 percent lower on Friday as the financial sector took a breather from a recent rally, offsetting advances made by miners on the back of strong metals prices. "The earlier buying momentum dried up," said Tim Waterer, senior trader at CMC Markets.
SYDNEY, April 26- Australian shares reversed earlier gains to finish the session 0.1 percent lower, as financial sector took a breather from a recent rally, offsetting advances made by miners on the back of strong metals prices. Bluechip miners BHP Billiton Ltd. and Rio Tinto Ltd rose 2.8 percent and 2.1 percent respectively.
Japan and Australia led gains as Asian indices ended mixed on Wednesday.
Disappointing Chinese gross domestic product (GDP) data led major Asian benchmarks lower on Monday, as investors fretted over slowing growth in China.