China Communications Construction Company Limited

Australian share market lost momentum on Thursday, despite the change of Australia's Prime Minister pushed the market higher earlier. Resources shares surged on expectation that discussions between the government and the miners could end the uncertainty caused by the proposed mining tax. The local market ended slightly lower led by financials stocks. At the close, the benchmark S&P/ASX200 index gave up 6.4 points, or 0.14 per cent, at 4479.7 while the broader All Ordinaries index fell 5.3 points, or 0.12 per cent, to 4504.1.

Riversdale Mining (ASX:RIV) has signed a non-binding Memorandum of Understanding (MOU) with China's Wuhan Iron and Steel (Group) Corporation (WISCO) and a logistics partnership agreement with the China Communications Construction Co (HKG:1800) for the development of the Zambeze coal project in Mozambique.