The AFR is celebrating the new mining boom:
A $2 billion acquisition spree by South32 and Gina Rinehart’s Hancock Prospecting has underscored the more upbeat outlook on commodity prices among industry heavyweights, with the scramble to buy or develop world class assets and infrastructure heating up as the world’s largest miners emerge from years of austerity.
Australia’s largest miners have moved aggressively to stamp their dominance in key commodity markets amid expectations of strong Asian economic growth over the next decade, with South32’s $1.7 billion bid for Arizona Mining heralding its intent to be a bigger player in base metals, while Hancock Prospecting’s bold $390 million bid for Atlas Iron could position Australia’s wealthiest woman as a bigger player in iron ore shipments from Port Hedland.
