Bauxite Resources Limited (ASX:BAU) Quarterly Activities Report And Update On Yankuang Group Joint Venture
Bauxite Resources Limited (ASX:BAU) (PINK:BXRDF) is pleased to provide a Quarterly Activities Report for the period ending 31 March 2010.
Bauxite Resources Limited (ASX:BAU) (PINK:BXRDF) is pleased to provide a Quarterly Activities Report for the period ending 31 March 2010.
Swedish mobile network equipment maker Telefon AB LM Ericsson (NASDAQ:ERIC) has bought Nortel's controlling stake in LG-Nortel, a joint venture between Nortel Networks and LG Electronics Inc. (SEO:066570). Nortel will sell its 50 per cent plus one share stake in LG-Nortel to Ericsson for US$242 million in Cash subject to certain purchase price adjustments.
Asian markets opened flat this morning while Wall Street overnight closed with little change after the US central bank's minutes eased concerns over rate hike. Yesterday Australian stock market touched an 18-month high despite the Reserve Bank of Australia raised official rate by 25 basis points. Japan's Nikkei 225 Tuesday dropped 0.5 per cent on profit-taking selling. China's Shanghai Composite was nearly unchanged while Hong Kong market was closed for public holiday.
The Board of Bauxite Resources Limited (ASX:BAU) (PINK:BXRDF) advises that in December 2009 it referred to the Environmental Protection Authority (EPA) for assessment its proposal to mine 1.2 million tonnes of bauxite on private farm land north of Bindoon, Western Australia, over a six month period from July 2010 (The Referral - Mining Operations - Stephens Rd Bindoon). This had followed the company's recent successful direct shipping of 120,000 tonnes of bauxite to China.
Monday Wall Street rose as higher commodities prices boosted energy and mining companies. The US markets also received support from positive consumer spending in February. Asian markets closed mixed yesterday. Chinese stocks rallied as China said it plans to launch the long expected stock-index future in April 16. Shanghai Composite jumped 2.1 per cent to a two month high, while Hong Kong's Hang Seng Index climbed 0.9 per cent. South Korea's Kospi Composite was 0.3 per cent lower. Japan's Nikkei 225 lost 0.1 per cent.
On April 19th and 20th at the Hilton Hotel in Sydney, ABN Newswire will be among many in Australia's booming investment community present at the 5th Annual Excellence in Oil and Gas 2010 Exhibition.
Overnight the Wall Street was stronger after the bill overhauling the US healthcare system was passed. Asian stock markets were mostly lower on Monday as Reserve Bank of India unexpectedly increased the official interest rate by 25 basis points. The Indian central bank's move has raised fears of an earlier-than-expected rate hike in China. Hong Kong's Hang Seng Index fell 2.05 per cent and South Korea's Kospi was down 0.8 per cent. But Shanghai composite edged 0.2 per cent higher. Japanese markets, which were closed for public holiday yesterday, resume trading on Tuesday.