Ann: Australia's Next Great Copper Region Presentation, page-25

It seems that Kalkaroo is literally the 'last cab off the rank'. OZL hailed it, but the 'Big Australian' BHP cancelled the fare.

In this regard, RXM's CEO had some choice words directed at BHP in an interview with the AFR yesterday. ICYMI the article can be found on the RXM forum at Post #: 74668425

Extracts:

“…what I can say is Australian companies love to be first to be second [to be first in line to acquire a project once it is operational]… And all of them, BHP included, want to buy operating assets. I don’t think anyone wants to take on development risk. I think we’ve had it too good for too long in this country. We’ve lost that appetite… The landscape is pretty bare when it comes to the risk-takers. That shows in BHP’s behaviour. I think they’ve become a risk management company… I also think that as companies get big and lazy, it gets harder to deal with communities and regulation hurdles and approvals. It’s easier to buy an operation when someone’s already gone through that for you.”

In effect, Salim is bucking the recent trend of majors pursuing brownfield assets over greenfield assets.

A couple of other recent developments may also bode well for HAV:

- Canada has moved to limit mining M&A. This was discussed later in the Money of Mine 'sexy rexy' video posted on this thread earlier today.

- Indonesia is likely to stop exporting copper concentrate from December this year to promote value-addition back home. (Source: Business Line)

DYOR