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Australia's Roy Hill iron ore mine on schedule for Sept 2015 PERTH: Australian billionaire Gina Rinehart's $10 billion Roy Hill iron ore mine is on track to begin exporting in September 2015 and will have shipped 5 million tonnes by the end of the year, a company executive said on Wednesday."We're certainly on budget. We remain ahead of overall schedule," Garry Torte, Chief Financial Officer of Roy Hill, told Reuters. The 55-million-tonnes a year mine is expected to ramp up ahead of the company's original 30-month timeline, Korte said.After a string of safety incidents at the mine site, local media recently reported that parts of the project have fallen behind schedule.But Korte said the time lost as a result of those incidents had been made up by contractor Samsung C&T.The mine is set to come online as iron ore is trading near six-year lows at just below $64 a tonne and amid a deepening glut stoked by low-cost, global miners ramping ...

Australian wheat lowest in Iraq's 50,000 Tonnes wheat tender HAMBURG: Australian wheat was offered lowest at $279.70 a tonne c&f free out (ciffo) in a tender from Iraq's state grains board to buy at least 50,000 tonnes of hard wheat, European traders said on Monday.The tender closed on Sunday and offers must remain valid up to Thursday, Feb. 19, traders said.No purchase had yet been made, they said.Australian wheat was the main origin in the tender, with a total 550,000 tonnes offered, traders said.The ...
London copper edges up in thin trade ahead of Lunar New Year MELBOURNE: London copper firmed in thin trade on Thursday as demand slowed ahead of the Lunar New Year and as talks over Greece's debt crisis stalled."I'm still optimistic we'll see some post-Chinese new year activity in terms of both Chinese import demand and industrial activity in general, though my expectations have been tempered a bit by the recent weak data points," said strategist Daniel Hynes of ANZ in Sydney.Hynes said weaker-than-expected Chinese inflation data ahead ...
London copper climbs as oil lends support; China eyed MELBOURNE: London copper climbed in thin trade on Wednesday, underpinned by gains in oil, but traders were reluctant to take on big positions given worries over Chinese demand growth, and as business slackens ahead of Lunar New Year."Everybody is ready for holidays now, so I would say physical demand is pretty soft and sentiment is very bearish," said analyst Judy Zhu of Standard Chartered in Shanghai."People don't want to be rushing into the market at ...
London copper drifts; Chinese demand eyed MELBOURNE: London copper drifted on Tuesday as worries over Chinese demand lingered, and as businesses wind down ahead of the Lunar New Year holidays next week.China's annual consumer inflation hit a five-year low in January, underscoring persistent weakness in the economy after China's trade performance slumped in January. The data adds more pressures on policymakers to support growth."I am a bit surprised that copper didn't weaken more given the trade numbers we got over the ...
London copper steadies as China trade jitters subside MELBOURNE: London copper steadied on Monday, as jitters subsided following surprisingly weak Chinese import data at the weekend that fueled worries over fragile economic growth in China.China's trade performance slumped in January, with exports falling 3.3 percent from year-ago levels while imports tumbled 19.9 percent, far worse than analysts had expected and highlighting deepening weakness in the Chinese economy.Global price moves and the impact of holidays may have overstated the extent of the downturn.Still, the ...
Soybeans edges higher, gains capped by South American outlook SYDNEY: US soybeans edged higher on Thursday, recovering slightly from losses of more 1.5 percent, although favorable weather conditions in Brazil kept a lid on gains.Corn edged lower, extending losses into a second session, while wheat also fell.Chicago Board of Trade March soybeans rose 0.1 percent to 9.73 a bushel, having closed down 1.5 percent in the previous session.However, analysts said the outlook for Brazilian supplies would likely cap any gains."The Brazilian Real continuing to ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln