1139 GMT [Dow Jones]--Prolonged softness in commodity prices would have a variable impact on global mining operators, according to new research by Sanford Bernstein analyst Paul Gait. Street forecasts for Vale and Anglo American are pricing in earnings before interest, taxes, depreciation and amortization 21% and 20% worse, respectively, than the companies would pull in assuming spot prices remain at their current depressed levels, Gait's analysis shows. The miners should also benefit from lower oil prices and a strengthening U.S. dollar, which Gait estimates could lower production costs 10% on average. Glencore, BHP Billiton and Rio Tinto, however, would see revenue fall by 25%, 13% and 7%, respectively, from the Street's current 2014 estimates, if commodity prices stay where they are. (scott.patterson@wsj.com)

 
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