WORLD: NEW HIGH REACHED BY MINING SHARES

Article Abstract:

Shares in the mining companies Rio Tinto , Billiton and Anglo-American reached record highs on 16 December 1999, reinforcing a general air of confidence in the mining sector. The strong outlook for the stocks is thought by some to be a reaction to the recent heady rise in Internet stocks, which fell back slightly on 15 December 1999. The surge also reflects the pre-Christmas rush by fund managers to add to their portfolios, and enthusiasm also stems from high commodity prices in the wake of the Asian economic collapse. Nickel prices finished at US$ 8,230 per tonne, copper at US$ 1,835 and Aluminium at US$ 1,621. The development heightened investors' hopes for worldwide economic growth in 2000.

United Kingdom, Diversified Companies, Sales, profits & dividends, Copper Mines, Copper Ore and Nickel Ore Mining, World, Mining & Extractive Industries, Mining, All Other Metal Ore Mining, Metal Ore Mining, Nickel Ores, Nonferrous Ores, Bauxite & Alumina, Finance, Copper mining, Mining industry, Copper industry, Anglo American Industrial Corporation Ltd., Aluminum industry, Ores, Rio Tinto PLC, Nickel industry

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Coal industry wins a stay of execution

Article Abstract:

The UK government has introduced measures designed to safeguard the future of the coal industry. It has persuaded power generators to purchase some more coal, and in return will make it harder for new competition, in the form of operators of gas-fired power stations, to enter the market in the period to 2001. However, the government has not gone as far as to guarantee coal a pre-determined share of the energy market or to force power generators to sell part of their coal-fired capacity to competing operators.

Economic aspects, Energy policy

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SOUTH AFRICA: BILLITON REVEALS COAL CUTBACKS

Article Abstract:

Billiton will cut coal exports from its South Africa-based Ingwe operations following the 4% fall in prices covering agreements in the crucial Japanese market. The mining group's move will lead to 2,000 jobs being cut, with cutbacks at the Koornfontein and Douglas collieries leading to annual savings exceeding US$ 62mn. Billiton, which supplies approximately 30mn tonnes of steam coal exports of 300mn worldwide, will cut Ingwe exports by 2.2mn tonnes, or 8%.

New capacity, new plant construction, Labor force information, Primary Nonferrous Metals, Human resource management

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