This edition’s ‘Spotlight Issue’ focuses on growth of the resources sector in African nations, including the involvement of Australian companies with interests in the region.
Continuing that theme, we also feature an interview with Managing Director and Chief Executive Officer of Paladin Energy, John Borshoff, who discusses the uranium production company’s two operating mines in Africa along with its projects currently running in Australia.
- Following the cyclone-affected March quarter, the June quarter saw a return to increases in production of several key commodities. Gold increased 5.5 percent to 46 tonnes and iron ore recovered to increase 8.8 percent to 133 million tonnes – 14 percent higher than June 2011.
- Export values of gold and copper registered increases of 34 percent and 38 percent respectively compared to the March quarter.
- Iron ore exports also recovered in export value, rising by 21.5 percent.
- Total market capitalisation of WA resource companies at end August 2012 was $84.2billion, a decrease of 9.2 percent from end of May 2012.
- Australia’s terms of trade continued to decline, falling 4.3 percent partially caused by a weakening in the price of exports due to slowing demand 0.6 percent since the June quarter albeit much smaller than the 4.3 percent in the March quarter.
- Petroleum exploration increased by 59 percent to $624million.