![]() The company said last week the strong Australian dollar and weak prices were hurting its local alumina and nickel operations, spurring speculation of possible writedowns or asset sales. Anglo’s biggest shareholder, South Africa’s Public Investment Corp., said in October that Carroll made poor decisions on how to spend cash.īHP’s share price has “suffered from the perceived bad deals conducted in shale gas,” Goldman Sachs analysts wrote in a Jan. ![]() Merger and acquisition activity peaked in 2006 when mining and metal businesses spent more than US$200-billion.Īnglo American said Tuesday its Minas-Rio project, which has been dogged by delays and budget overruns, will now cost US$8.8-billion to develop, up from US$2.6-billion when Anglo bought it in 2008. Natural resources companies went on a deal spree in the past decade, spending US$1.1-trillion chasing growth, according to data compiled by Bloomberg. “Decisions made are now coming home to roost.” ![]() “It’s a hangover effect from the metals and mining euphoria we’ve had in the past 5 to 10 years,” Jeff Largey, a London-based analyst at Macquarie Group Ltd., said in an interview. Anglo American slipped 0.8% and Glencore dropped 0.7%. in London, while BHP was little changed at 2,154 pence. Spokesmen for BHP and Glencore declined to comment. BHP in August announced a US$3.3-billion charge on gas and nickel assets. Glencore may write down as much as US$2-billion following its US$37-billion takeover of Xstrata Plc, due to be completed in March, according to Richard Knights, an analyst at Liberum said.īHP, the world’s biggest mining company, may lower the valuation of its nickel and aluminum assets by about US$5-billion, Bernstein said in a report Wednesday, while Goldman Sachs said in January that BHP may take a US$2-billion to US$3-billion impairment on aluminum. ![]() The Dow Jones Industrial Average gained 7.3% last year and 5.5% in 2011. The Bloomberg World Mining Index rose 2.9% last year after dropping 31% in 2011. That has trimmed profits, sapped investor appetite for further deals and spurred calls for greater returns. The mining industry’s merger and acquisition missteps have been compounded by higher costs for energy, labor and construction materials. The last major change to the Canadian map was the creation of Nunavut, a territory organized from the Northwest Territories in 1993.This advertisement has not loaded yet, but your article continues below. The first territories annexed into the Canadian Union were Rupert's Land and the North-Western Territory in 1870. The first four provinces were created by the British North America Act in 1867, and included Quebec, Nova Scotia, and New Brunswick. Provinces get their authority to run their governments in Canada from the Constitution Act of 1867, and the territories are given their power by the Parliament. ![]() The main difference between the two types of regions in Canada is a political one. The last major change to the Canadian map was the creation of Nunavut from the Northwest Territories.Provinces and territories get their powers from the Canadian government.There are three territories: Northwest Territories, Nunavut, Yukon Territory.Canada has 10 provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, Quebec, Saskatchewan. ![]()
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