Tinkler wants to sell the farm

Mining Magnate Tinkler tried to raise $200 million by selling his entire racing and breeding empire that includes stud farms, private training centres, as well as hundreds of racehorses, broodmares and tens of stallions, according to the Sydney Morning Herald.

His racing company, Patinack Farm, approached Sheikh Fahad Al Thani, the Qatari royal who owns last year's Melbourne Cup winner, Dunaden. But the deal was knocked back.

Earlier this week Tinkler failed to produce $28.4 million to fulfil an agreement to buy a 33% stake in listed coal company Blackwood Corp.

That failure comes at a time when Tinkler attempts to borrow money to privatise the mining company Whitehaven, in which he holds 21% of the stock. To do that deal he needs to raise about $1 billion from partners.

Rio Tinto gets slice of $US3B UAE nuclear fuel pie

The United Arab Emirates awarded contracts worth $US3 billion to six international companies, including Rio Tinto and France's Areva SA, to supply nuclear fuel for its four planned nuclear reactors, according to The Australian.

The nuclear facilities will be the first in a line of civilian power plants planned in the strategically sensitive Persian Gulf region.

Miners help put floor under AdBri

Mining sector demand helped offset the impact of construction industry weakness for building materials group Adelaide Brighton, which posted a 9.8% lift in half-year net profit to $67.5 million yesterday, according to The Australian.

Adelaide Brighton shares fell more than 10% to $2.90 after the group disappointed the market with full-year net profit in the range of $145 million-$155 million, compared with $148.4 million for last year.