IEA set to revise down coal demand forecasts
The International Energy Agency looks to be preparing to revise down its forecast for thermal coal demand growth, according to the Australian Financial Review.
The unexpected slowdown in Chinese coal demand that was particularly evident in 2014 is a factor, but IEA director for energy markets and security Keisuke Sadamori points more so to the commitments made by countries in their submitted pledges on greenhouse gas emissions before the COP21 global climate talks in Paris at the end of the month.
Short sellers are increasingly targeting BHP shares
A growing number of investors are betting that BHP Billiton shares will fall further, with short positions in the resources giant rising to their highest levels in almost four years, according to the Sydney Morning Herald.
BHP shares have already fallen 27% since March and short sellers are effectively betting that the share price will continue falling and allow them to complete their trades at a lower share price in the future.
BHP, Pilbara traditional owners sign multimillion dollar deal
One of Australia's biggest native title mining agreements, said to be worth hundreds of millions of dollars, has been signed between BHP Billiton and the Banjima people of Western Australia's iron ore-rich Pilbara region, according to the Sydney Morning Herald.
The “whole of claim” agreement covers 8263 square kilometres of the Banjima's 10,000 square kilometres of land in the central Pilbara. It is understood to be worth hundreds of millions of dollars over its more than 100-year life.