The miners' money pit

Article Abstract:

The Australian mining industry loses about $1 billion annually because of poor supply-chain management, an Anderson Consulting study reveals. The supply chain represents 35% of operating costs. A major expense is a surplus of suppliers. Forty seven percent of the companies surveyed contracted with more than 1000 suppliers. Better supply-chain integration management would result in reducing supply costs by 10% to 20% or, for most companies, an annual savings of between $30 and $50 million.

Australia, Purchasing Management, Statistical Data Included, Purchasing, Management, Usage, Mining industry, Industrial suppliers, Rio Tinto PLC, Buy-sell agreements

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$100 million and more

Article Abstract:

A listing of Australians with assets of A$100 million to A$195 million is presented. This class of rich Australians includes Imelda and Bill Roche, direct sale cosmetics and real estate, $A195 million; Tony and Robert Albert, music publishing and real estate, $A190 million; Bruce Gordon,media, $A190 million; Eddie Kornhauser, real estate, $A190 million; and Bob Oatley and family, vintners, $A190 million.

Millionaires

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Junk-bond merchants embrace our miners

Article Abstract:

Junk-bond money is funding Australian mining projects. Greedy New York investment banks are all-too happy to set up deals, and fund managers, facing flat returns and interest rates in the US, are looking for high yields. High-risk Australian mining ventures have taken on over A$1.1 billion in junk debt. Those investing in such projects are naive, blind or just stupid.

Investment Banking and Securities Dealing, Investment Banking, Security brokers and dealers, Investment banks, Investments, Junk bonds

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