News and More for Wednesday

BHP Raises Olympic Dam's Copper, Uranium, Gold Estimates by 75 Percent BHP Billiton Ltd., the world's largest mining company, raised its estimate of copper, gold and uranium resources at Australia's Olympic Dam mine by 75 percent, forecasting prices for the minerals will stay high.

Australian and New Zealand Dollars Gain as Odds of U.S. Rate Cuts Rise The Australian and New Zealand dollars rose on speculation the appeal of the nations' higher- yielding bonds will be boosted as the Federal Reserve cuts interest rates again.

Dollar Falls to Record Low on Forecast Drop in U.S. Durable Goods Orders The dollar traded near a record low against the euro on speculation a government report today will show a drop in U.S. durable goods orders, adding to evidence the economy is slowing.

Australia says 2008 uranium prices could fall on increased production Uranium prices may fall 15% next year as demand growth moderates and new mines start production, the Australian Bureau of Agricultural and Resource Economics said.

Insatiable China boosts export sales Sales of commodities might reach $144.7 billion in 2007-08, the Australian Bureau of Agricultural and Resource Economics said yesterday. That compares with last year's revised figure of $139.2 billion and is 3 per cent lower than its $149.5 billion June estimate, reflecting lower metal price forecasts and gains in the Australian dollar.

China Revokes Licenses of Hundreds of Food Processors China's food safety watchdog said Tuesday it had revoked the licenses of 564 factories involved in producing problematic monosodium glutamate (MSG), rice and frozen noodles, stepping up its crackdown on unsafe food production to meet a deadline late this year set by the central government in its campaign to restore confidence in the integrity of Chinese consumer goods.

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