A mining group says a warning to incoming US President Barack Obama about Australia's coal industry is an unfounded exaggeration.

Australian jobs at Alcoa will not be affected by the mining giant's decision to cut 13% of its global workforce.

(RTTNews) - Mixed opens are expected for the New Zealand and Australia stock markets on Wednesday, following modest gains overnight on Wall Street. On Tuesday, the New Zealand sharemarket finished higher for a third straight day.

Alcoa will not cut jobs in Australia as it reduces its global workforce by 13 per cent as part of sweeping measures to reduce costs as the global economic crisis curbs aluminium demand.

The Australian share market has finished the day at its highest level in two months, with strong gains in the mining and energy sectors, and the Australian dollar nudging a three-month high.

Australian energy company Santos Wednesday said it and joint venture partner Apache had signed a contract worth an estimated 1.3 billion US dollars to supply natural gas to a Citic Pacific project.

MELBOURNE, Australia----We Sell for U Corp announced today that it plans to focus its business on energy and mining opportunities around the world.

SINGAPORE - A new mining law in Indonesia, long delayed and keenly anticipated by foreign investors, secured passage through parliament last month with complications that dimmed hopes it would quickly unleash a new spate of exploration and development.

Jan. 6 (Bloomberg) -- Australian shares and Japanese stock futures rose as a rally in crude oil and the weakening yen improved the earnings outlook for mining companies and Japanese exporters.

MELBOURNE, Australia----We Sell for U Corp announced today that it plans to focus its business on energy and mining opportunities around the world.