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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (12478)	6/1/1998 9:18:00 PM
From: goldsnow	Respond to of 116795

Headline: South Africa's Anglo American Remains World's Top Mining Concern ====================================================================== SYDNEY -(Dow Jones)- Anglo American Corp. of South Africa remains the world's biggest mining company in 1996, according to a report by Swedish consultancy Raw Materials Group cited Monday by Brandeis (Brokers) Ltd.'s daily review. But recent restructuring in the mining world may topple Anglo American (ANGLY) off its ranking it has occupied since the survey began in 1975, the consultants' group said. The top-six rankings of the world miners in 1996, based on the value of the Western world's mines output that they control, are unchanged. Canada's Noranda Inc., however, which didn't make it to the Top 10 in 1995, occupied the seventh position in 1996. The cumulative share of the mining industry controlled by the 50 largest companies in terms of the Western world production rose to above 60% in 1996, RWG said. The level of concentration varied considerably among the metals. Tin is the most concentrated with three companies controlling almost 65% of the total Western output of tin. Lead and zinc show lower concentrations with 58% and 49% of the world's output in the hands of the 10 largest companies. Meanwhile, the consultancy said mergers and acquisitions have become the most favored way of expansion in the mining industry. The amount of money spent on mergers and acquisitions activity increased 50% in 1997, to $18.5 billion from 1996's $12.4 billion. The spending is also 9% ahead of the $16.5 billion record set 1995. 'The upward trend is continuing this year and deals valued at more than $1.5 billion were reported in the first four months of this year,' the consultancy said. -Hamisah Samad; 612-9290-8873; hsamad@ap.org Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved.