3:00AM New York, 5:00PM Tokyo - The Australia index slid 0.4% after loses in mining stocks.

ASX 200 Index declined by 0.4% or 22.70 to close at 6,508.10.

BHP Billiton was lower at 0.9%, Rio Tinto lost by 2.6% and Newcrest mining slid 0.2%.

Preliminary stock turnover was 2.06 billion with shares worth $5.78 billion changing hands, with 546 stocks up, 719 down, and 351 unchanged. The top traded stock by volume was men''s merchandiser Retail Star with 402.55 million shares changing hands valued at $11.17 million.

Australia''s property giant, Lend Lease today confirmed having held talks with Mirvac Property Group about a potential transaction which could include a merger. The company however indicated that it had no expectations and that it was unsure about how the deal would turn out.

The company said it would constantly evaluate alternatives to maximize shareholder value from its businesses and from time to time considers proposals from third parties. Lend Lease shares were higher at 2.3%.

Australia''s largest builder, Leighton Holding share gained after the company announced today that its subsidiary Leighton International had been awarded A$740 million ($650 million) of new work in Dubai and Abu Dhabi in the United Arab Emirates, through its 45%-owned associate Al Habtoor Engineering.

The company said in a statement that it had secured a $520 million contract for the construction of the new JAFZA convention centre in Dubai for the Jebel Ali Free Zone Authority, and two hotels for Aldar on Yas Island in Abu Dhabi worth a total $130 million.

""""These new contracts are further evidence of the tremendous opportunities for growth for Leighton International in the Arabian Gulf region, and the UAE in particular,"""" said David Savage, Managing Director of Leighton International in the statement.

The JAFZA convention centre complex will comprise twin towers for the convention centre, a food court, a 33-storey office complex and seven-storey hotel.

The project for Aldar comprises the construction of two separate 4-star hotels on adjacent plots on Yas Island in Abu Dhabi. The first hotel comprises 400 rooms and 30 suites; the second 200 rooms and 10 suites. Construction will commence immediately and will be completed in September 2009.

Last month Leighton International, through Al Habtoor Engineering, secured the $290 million (A$330 million) JW Marriott Hotel in Abu Dhabi.

The project, for Abu Dhabi National Hotels, represented the first contract won by Al Habtoor Engineering since it merged with Leighton International''s operations in the Arabian Gulf in September this year.

Xstrata Coal Pty Limited today announced its intention to make an unconditional all cash offer to acquire all of the issued and outstanding shares in Resource Pacific Holdings Limited for A$2.85 per share, valuing Resource Pacific''s issued share capital at approximately A$960 million. The offer eclipsed an all-share bid for the Australian mining company by a local rival, New Hope.

Xstrata Coal Chief Executive, Peter Coates, said: """"This is a highly attractive offer for Resource Pacific shareholders, providing the immediate opportunity to realise a cash premium for their investment in a single mine operation.""""

Xstrata Coal''s cash Offer is priced at a 85% premium to the 30 day volume weighted average price1 of Resource Pacific shares up to and including 25 September 2007, the day prior to the announcement of New Hope''s takeover offer.

The company also said that its offer price also represents a 78% premium to the A$1.60 per share subscription price of Resource Pacific''s recent rights issue – which was priced by the company just over one month ago and represents more than 30% of the company''s current issued share capital.

Xstrata Coal also announced today that it has entered into a co-operation agreement with Marubeni Corporation, Resource Pacific''s largest shareholder. As a result, Xstrata Coal now has a relevant interest in Marubeni Corporation''s 10.28% shareholding in Resource Pacific. Together with its existing interest of 5.28% acquired by equity swap arrangements and on-market purchases, Xstrata Coal has a total relevant interest of 15.56% in Resource Pacific shares.

""""We believe our cash Offer recognises the full value of Resource Pacific''s Newpac mine and offers an attractive and risk-free premium to shareholders. Xstrata Coal has a proven history of successful longwall mining in the New South Wales Hunter Valley, with the skills, capabilities and financial stability required to achieve Resource Pacific''s potential,"""" Mr Coates said.

Newpac is an underground semi-soft coking coal and thermal coalmine located in the Hunter Valley coalfields of NSW, in close proximity to a number of Xstrata Coal operations. Xstrata Coal also owns the mining lease over Newpac.

The Offer will be made by Titan Holdings Finance Pty Limited, a subsidiary of Xstrata Coal, by way of an off-market takeover bid under the Australian Corporations Act 2001.