Australia has bought back most of a contentious mining licence issued for a huge Chinese-run coal mine near prime agricultural land, officials said Wednesday, but farmers are still not happy. Chinese company Shenhua was granted the original exploration licence for the Aus$1.0 billion (US$770 million) Watermark mine near Gunnedah in New South Wales state in … Read more
A US hedge fund plan for mining giant BHP Billiton to move its primary listing to London was shot down by the Australian government Thursday which warned of criminal charges if it went ahead. New York-based Elliott Advisors, a significant shareholder in the Anglo-Australian company, is pushing for BHP to restructure the business, arguing it … Read more
Mining giant BHP Billiton Tuesday rejected an activist hedge fund proposal that it restructure the business and spin off its US petroleum arm, saying the costs and risks outweighed any benefits. New York-based Elliott Advisors, a significant shareholder in the Anglo-Australian company, argued in a letter to directors and the media that its plan could … Read more
U. S. opens door to oil exports after year of pressure A domestic drilling boom of the past six years has transformed the U.S into an energy powerhouse. The Obama administration on Tuesday bowed to months of growing pressure over a 40-year-old ban on exports of most domestic crude, taking two steps expected to unleash … Read more