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Murchison Metals will be left with just a few exploration tenements and little funds if it pays shareholders with cash received from the $325 million sale of key assets to Mitsubishi.
The Australian dollar has fallen to its lowest level in seven weeks as concerns about China's economic growth and Europe's debt crisis drag sentiment lower.
US equity markets have tanked as a poor German government debt auction fuelled fears over Europe's fiscal crisis and weak growth in the eurozone, a major US trading partner.
The Australian dollar has continued its downward trend following a report that France and Belgium were restarting talks on the bailout of Brussels-based bank Dexia.
The federal government could be forced to make further changes to its mining tax by the Greens, despite Prime Minister Julia Gillard's assurances that it will pass the Senate with the support of th
Premier Colin Barnett has hit back at federal Resources Minister Martin Ferguson for saying the real problem for mining companies was paying state royalties.
The federal government has dismissed the opposition's claim that a report from a leading international investment bank proves Labor's carbon tax is "all pain for no environmental gain".
Minmetals' $C1.3 billion $A1.28 billion) takeover bid for Democratic Republic of Congo-focused copper miner Anvil Mining has been extended as talks continue to gain the backing of state-owned joint
A planned rail line linking Sundance Resources' $US4.7 billion ($A4.79 billion) Mbalam iron ore project in West Africa to a proposed new port is a step closer.
Virgin Australia says underlying profit before tax in the first three months of 2011/12 was higher than the prior corresponding period, despite higher fuel costs.
Treasurer Wayne Swan has credited Prime Minister Julia Gillard's "guts and determination" for the successful passage of the federal government's mining tax.
The federal government is set to defer by one year the phasing down of a foreign bank tax measure, so it can cover the cost of its deal to secure the passing of mining tax laws.
The International Monetary Fund has announced a new lending facility aimed at helping "bystander" countries protect themselves from contagion during financial crises.
US stock markets traded choppily on Tuesday, with the Dow Jones Industrial Average squeezed by a sharp downward revision to US growth figures and lingering political concerns in Washington and Euro
Financially beleaguered BlueScope Steel has embarked on a deeply discounted $600 million capital raising to tackle debt and try and turn around its fortunes.