According to The Australian Financial Review, BHP Group proposal for a $US39 billion ($60 billion) takeover of rival Anglo American is all about securing plenty of copper supplies — so now, the potential deal is throwing uncertainty over the future for Anglo’s massive fertiliser mine in England.
That’s largely because BHP is already building its own giant fertiliser project in Canada, called Jansen, to which it’s already committed more than $US10 billion. With an accelerated expansion planned for Jansen, BHP is unlikely to be interested in also going big on Anglo’s Woodsmith site. If BHP is successful with its takeover deal, it would spark the industry’s biggest shakeup in more than a decade. BHP, already the largest miner, would gain control of roughly 10 per cent of global copper mine supply ahead of a forecast shortage that’s expected to drive up prices. https://www.afr.com/companies/mining/bhp-s-bid-for-anglo-casts-cloud-over-9b-mine-20240427-p5fmz9
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According to The Australian Financial Review, median house prices in Brisbane and Adelaide are on track to hit $1 million by the end of the year, fuelled by a persistent supply shortage and strong demand, despite a sharp slowdown in the quarterly pace of growth, Domain says.
Brisbane’s median house value has risen to a record $924,498 over the past three months to March, and Adelaide surpassed the $900,000 mark for the first time during the same period. But their quarterly growth momentum slowed substantially as stretched affordability weighed on sentiment, said Nicola Powell, Domain’s chief of research and economics. https://www.afr.com/property/residential/median-house-prices-in-brisbane-and-adelaide-to-hit-1m-by-december-20240423-p5flwa
According to The Asahi Shimbun, while most Japanese would choke at the high prices of "kaisen-don" seafood rice bowls, the weak yen is whetting the appetites of foreign tourists such as Orr Israeli Dayan and Omer Dayan.
“In Israel, they cost 1.5 times as much,” Omer said. “I don’t think they are expensive.” In February, Toyosu Senkyaku Banrai, a commercial facility with more than 50 eateries, opened on Tokyo’s waterfront, adjacent to the Toyosu Market. When the line-ups of expensive menu items were revealed, many Japanese quickly made fun of them on social media, naming them “inbaun-don” (inbound-donburi). But the prices failed to dampen the appetites of Orr Israeli Dayan, 28, and Omer Dayan, 30, who came to Japan from Israel on their honeymoon. https://www.asahi.com/ajw/articles/15245613
According to The Asahi Shimbun, at least 90 taxi operators have already registered in the two weeks after a new ride-sharing service was launched here and in Tokyo.
While the majority of current customers are foreign tourists, taxi companies are hiring more drivers in anticipation of the service’s wider adoption. On the evening of 19 April, local taxi company MK Co. received a ride-share reservation through the Uber app from Vietnamese tourists who wanted to travel from Kiyomizudera temple to Kyoto Gosho. Ninety percent of the company’s ride-sharing customers are foreign visitors, likely familiar with the service in their home countries. Domestic customers, on the other hand, are still unfamiliar with the concept. https://www.asahi.com/ajw/articles/15245852
According to The Australian Financial Review, Shizen Energy Group, a Japanese renewables player that has developed 1.3 gigawatts of assets since its founding in 2011, is seeking backers for its first Australian bet.
Street Talk understands Shizen has acquired exclusivity over a 200-megawatt pipeline of solar assets in NSW and Victoria alongside development partner Bison Energy – another Japanese player that already has 14 projects in Australia. Now, Shizen wants an equity investor that could help it turn the early-stage project into saleable electricity. https://www.afr.com/street-talk/japan-s-shizen-energy-seeks-equity-backer-for-aussie-solar-play-20240421-p5flh5
According to The Australian Financial Review, Japanese investment in Australian real estate surged last year to a record $2 billion as this country’s housing crisis draws a new wave of investors wanting to put their capital and skills to work.
Of the 53 deals in various sectors involving Japanese investors last year, 13 were property transactions – up from six a year earlier – Herbert Smith Freehills’ (HSF’s) Japan-Australia Investment Report 2023 shows. Decisions such as the NSW Minns government’s plan to boost housing density around 39 transport hubs in Sydney – expanded to 45 on Friday – and build 185,800 homes over 15 years are creating new opportunities. https://www.afr.com/property/commercial/japan-investment-in-australian-real-estate-hits-2b-record-20240407-p5fi0m
According to The Australian Financial Review, housing affordability is at its worst in more than two decades, with both aspiring homeowners and low-income tenants slammed by surging prices, rents and interest rates, the latest ANZ Housing Affordability report shows.
The average portion of income needed to service a new mortgage blew out to 48.9 per cent nationwide during the March quarter, up from 43.1 per cent a year ago and a sharp jump from the 34.8 per cent decade average. https://www.afr.com/property/residential/housing-affordability-the-worst-in-20-years-anz-20240415-p5fjxs
According to The Jiji news, the average unit price of new condominiums put up for sale in the greater Tokyo area in fiscal 2023 hit a record high for the third consecutive year, Real Estate Economic Institute Co. said.
In the year that ended in March, the average condo price in Tokyo and its three neighboring prefectures of Chiba, Kanagawa and Saitama came to 75.66 million yen, up 9.5 pct from the previous year. https://sp.m.jiji.com/english/show/32497#goog_rewarded
According to The Asahi Shimbun, a domed stadium is to be built on the site of the old Tsukiji fish market site near Ginza that closed six years ago under a redevelopment plan approved by the Tokyo metropolitan government.
Officials announced that a group of companies led by Mitsui Fudosan Co. had been chosen to lead the project that eventually will include a hotel as well as a landing port for “flying cars.” A basic agreement between the consortium and the Tokyo metropolitan government is expected to be signed by the end of the current fiscal year. Construction is scheduled to begin in 2025 and the entire complex is expected to be in full operation by fiscal 2038. https://www.asahi.com/ajw/articles/15238962
According to The Australian Financial Review, it’s down to the short strokes at Whitehaven Coal’s sale of a minority stake in Bowen Basin’s Blackwater metallurgical coal mine, bought alongside Daunia for about $6.4 billion from BHP and Mitsubishi last year.
Sources said JFE Steel Corporation, Japan’s second-largest steel producer after Nippon Steel, is in advanced discussions to acquire a circa 10 per cent stake in Blackwater. The suitor is already a shareholder at QCoal’s $1.76 billion Byerwen mine in the region, which feeds its West Japan steelworks. Of note, Whitehaven Coal, in tandem, is in active discussions with a handful of other suitors, including India’s JSW Group, to come onto Blackwater’s register alongside JFE. Japanese trading house Itotchu has kept close to Whitehaven for months. https://www.afr.com/street-talk/whitehaven-s-blackwater-selldown-may-be-upsized-jfe-keen-20240418-p5fkva |
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