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Showing posts from January, 2010

Is potash the next big thing

BHP Billiton Ltd., the world’s largest mining company, said it agreed to acquire Athabasca Potash Inc. for about C$341 million ($322 million) to add to assets in Canada containing the crop nutrient potash.Mining  Growth in potash sector ?Athabasca has one of the largest exploration permit areas in the so-called Saskatchewan basin, covering approximately 6,900 square kilometres (2,664 square miles), BHP said in a separate statement. The Athabasca deal will give BHP access to a total exploration area of more than 14,000 square kilometres in the so-called Saskatchewan potash basin, BHP said.And then there's potash.Potash is the common name for potassium carbonate and various mined and manufactured salts that contain the element potassium in water-soluble form. In some rare cases, potash can be formed with traces of organic materials such as plant remains.It is big business. Potash Corp of Saskatchewan is worth more than Barrick Gold - the market caps are $US39 billion and $US33 billi…

US unveils "Spank the Banks" tax

The banks are gonna get some spankingUS President Barack Obama unveiled a "Spank the Banks" tax which will net $125 billion over a decade, in a bid to curb the "obscene" bonus culture. But his has not stopped the big investment banks from giving its top trader lavish bonuses.Goldman Sachs hot shots are expected to land an 81 percent rise in pay and bonuses for 2009, leading Wall Street's biggest banks in rewarding staff with a total of $108 billion (US$100 billion).Uk supertax vs  Obama’s spank the bank taxIn the UK, the new 50 percent "super-tax" on bonuses above $44,000 should pull around $530 million into the government's coffers.Rival bank JP Morgan was slammed by politicians across the globe on Friday when it revealed plans to pay up 24,654 traders a vast $10.1 billion in bonuses. The bank was awarded $16.6 billion of US taxpayers' cash amid the global financial crisis last year. It has since repaid the loan, and last week posted a huge j…

Griffin coal – Will it survive ?

January 04, 2010 12:00AM Griffin coal Enters administrationONE of Western Australia's biggest privately owned companies, Griffin Coal, last night appointed administrators after missing $30 million in debt and tax payments due to be made on December 31.The company, which has been operating since 1923 in the Collie area southeast of Perth, is controlled by one of Australia's most reclusive businessmen, Ric Stowe, who divides his time between Perth and Monaco.NEWS UPDATE  -  Fri Jan 15, 2010 9:22pm AEDT Griffin Coal deal struckThe administrator of Griffin Coal Mining has struck a deal with the State Government which will allow a $4 million advance payment to be made to the collapsed miner.Brian McMaster, the KordaMentha partner who was appointed to examine the company, said the 300-strong workforce would operate on a "business as usual" basis while he assessed the condition of the business.Griffin Coal is a unit of the Griffin Group, which was founded by businessman Ric…

Best wishes for 2010 from Australian stock watch

2010 is here to stay and so how did your 2009 go? Most people would say it went pretty fast and then some would say it went slow (probably they were not doing enough). One thing is for sure it was quite a eventful year. There was the Meltdown of financial markets from which we are still recovering and still getting after shocks. Iphone’s made it bigger this year and so did it cousin ipod becoming smaller and smaller .Soon you will be saying that is not a button on my shirt it is my ipod. I suppose now next year could be the year of the Android you never know , and then maybe androids cousins by the dozens ( considering it software is free source). It was also the year that  the Indian movie about the poor shanty towns in India  “slumdog millionaire” created waves all around the world by wining multiple Oscars.  It was also the year that Kevin Rudd did not get into the media pages for partying with strippers, but for saying Sorry to the lost generation. It was the year the Pope touche…