South East Asia forms economic community

SOUTH East Asian leaders have created a unified economic community in the region 13 years after mooting the idea. The ASEAN Economic Community (AEC) was formalised by the 10 Association of South East Asian Nations (ASEAN) leaders during a summit in November with the hope that it can compete with China and India.

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Decline takes toll on German manufacturers

THE surplus of raw materials, particularly metal, together with a corresponding massive fall in prices, have left a mark on the balance sheets of German mining machinery manufacturers. The industry expected a 3% drop in sales to 3.62 billion Euros with a continuing decline in profits expected for 2016.

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No new coal mines in China

CHINA, the world’s largest coal consumer, has halted approvals of new coal mines for the next three years while it continues cutting output at existing operations. The move is aimed at shrinking both oversupply and limiting a worsening pollution crisis.

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Gold provides glimmer of hope

GOLD provided a glimmer of hope in a tough year for Australia’s mid-tier miners, with revenue up 11% and gold’s share of mid-tier revenues growing 5%. Copper also glistened with a gross margin of 54%, making it the most profitable commodity in the sector.

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