News Wrap

IN THIS morning’s News Wrap: Miners target funds to spread the message on coal; coal seam gas critical for manufacturing's future, says Boral boss; and BHP chairman calls for a more open door to China.

Lou Caruana

Miners target funds to spread the message on coal

Mining giants are targeting Australia's most influential superannuation funds to convince them that coal is here to stay in a dramatic escalation of a strike against environmentalists campaigning for the divestment of fossil fuel assets, according to The Australian.

Coal seam gas critical for manufacturing's future, says Boral boss

Boral chief executive Mike Kane says coal seam gas is critical to the future of Australian manufacturing and rising energy costs threaten to kill the industry, according to the Sydney Morning Herald.

The American executive has been running Australia's largest supplier of construction materials and building products for about 18 months, but has already slashed 1000 jobs and cut $105 million from Boral's cost base.

Kane still has costs firmly in focus, saying that spiralling energy costs are seriously damaging manufacturers.

“Coal seam gas is part of the future recovery for Australian manufacturing,” he said.

BHP chairman calls for a more open door to China

The chairman of BHP Billiton, Jac Nasser, has called on China and its trading partners to step up efforts to liberalise trade, while stressing closer ties should ensure peaceful co-existence, according to the Australian Financial Review.

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