Sydney, Oct 11, 2007 (ABN Newswire) -
Rio Tinto has a number of suitors lining up for its Kintyre uranium deposit in Western Australia. Canada's Mega Uranium has had preliminary talks with Rio on the subject, and is considering a bid. Another Toronto listed uranium giant Cameco Corp has also been flagged as an interested party. The Kintyre mine has potential to produce up to 1,500 tonnes of uranium per year. Rio has announced it will be selling off at least $10 billion in assets including Alcan's packaging business but claims the rumours that Kintyre is on the block are simply speculation. Rio Tinto has seen increasing record profit results in recent years.
Realestate.com.au has announced it will be acquiring 51 per cent of Dubai's largest real estate advertising company. The deal includes a real estate magazine and website Albabworld.com which REA Group will immediately re-brand as propertyfinder.ae. REA Group will pay $1.2m and will inject a further $2.5m of additional equity into the business during the current financial year. Dubai is the most populous city in the United Arab Emirates, whose population is likely to double within the next 10 to 15 years. Swiss Media Group, which founded the publisher, will retain 49 per cent of the shares and the current management team will remain in place. REA Group operates 18 real estate advertising websites in 10 countries, including Australia, Germany and France. Realestate.com.au turned profitable in 2004.
And Qantas has announced the delay in the launch of its Boeing 787 planes will not impact operations. Boeing said yesterday that first deliveries of the new 787 Dreamliner aircraft would be delayed by at least six months to late November or December of 2008. Qantas said in a statement it saw no reason to change its earnings forecasts. Qantas enjoyed a return to bumper profits last financial year.
The full report is available at the following video and audio links.
Video Link
http://abnnewswire.net/fnnlnk/UNT135T2Audio Link
http://abnnewswire.net/lnk/06HOI7VXSource: Finance News Network © 2007
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