ASX Round-Up: Aditya Birla and Greenland Minerals and Energy in Focus

For investors focused on the resource space, a good way to track companies listed in Australia is to look at the S&P/ASX 300 (INDEXASX:XKO). The index includes all S&P/ASX 200 (INDEXASX:XJO) companies as well as about 100 smaller-cap companies, and as of April 2015 accounted for 74 percent of the Australian equities market. Specifically, the S&P/ASX 300 Metal & Mining (INDEXASX:XMM) division is a great source for companies to watch.

Resource Investing News is thus profiling companies on the S&P/ASX 300 Metal & Mining index. This week’s companies are Greenland Minerals and Energy (ASX:GGG) and Aditya Birla Minerals (ASX:ABY).

Greenland Minerals is headquartered in Australia, and operates a range of projects in Southern Greenland. Together, these projects form the Iimaussaq Complex, a geological formation that includes high quantities of rare earths, uranium and zinc. The company has been developing the complex since 2007, and continues to bring Iimaussaq closer to production.

In the company’s quarterly report released in March of this year, it announced that its exploration license over the Kvanefjeld Project Area, which includes the Iimaussaq Complex, has been extended for another three years. This news accompanied an agreement with China Non-Ferrous Metal Industry’s Foreign Engineering and Construction (SZSE:000758) that gives that company joint development rights to the Kvanefjeld Project Area.

Copper production and exploration company Aditya Birla Minerals focuses on two Australia-based mining projects. The Birla Nifty project is already in production and exports copper concentrate to processors, while the Birla Mt. Gordon operation is currently under care and maintenance.

The company revealed a decline in copper production from the Birla Nifty mine in its quarterly report released in March of this year. It is currently reviewing its strategy to maximize production at the project in the future.

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