Craig Hill Media and Consulting
BHP Billiton
Australian mining giant Rio Tinto posts record $3bn annual loss
Mining giant Rio Tinto has swung to its first full-year loss, hurt by a sharp drop in commodity prices and almost $US14 billion in impairment charges that last month claimed the scalp of its chief executive. Rio Tinto – the world’s second-largest iron ore producer after Brazil’s Vale – reaffirmed plans to cut costs by … Continue reading
Major oil discovery in outback South Australia worth $20 trillion
Brisbane company Linc Energy says independent studies have confirmed a major shale oil source in South Australia’s far north, which officials have estimated could be worth $20 trillion. The company says US-consultants have carried out drilling and geological and seismic surveys around Coober Pedy. Linc Energy holds rights over more than 65,000 square kilometres of … Continue reading
Australia’s BHP lashed on ‘colonial attitude’ in Papua New Guinea
The row between Papua New Guinea and BHP Billiton over the Ok Tedi mine heated up yesterday, with Prime Minister Peter O’Neill accusing BHP of having a “colonial era” mentality. He strongly defended his action two months ago in banning Ross Garnaut from PNG, which triggered the Australian economist’s resignation at the weekend as chairman … Continue reading
Australian stocks surge to 19-month high as US fiscal cliff averted
THE sharemarket started 2013 with a bang as US lawmakers agreed a budget deal to avoid the worst of the so-called fiscal cliff that had threatened to derail the world’s biggest economy. The benchmark S&P/ASX 200 closed up 1.2 per cent at a 19-month high of 4705.9, also after better Chinese manufacturing data helped lift commodity … Continue reading
Craig Hill Media and Consulting 