China Steel Interest Investment In South African Mining Sector
Mar/14/2010 | Under : Coal Mine - Energy - Exploration - Steel Industry
Like India’s steel giants, China is also showing interest in investing in South Africa’s mining sector.
According to the minister of mines in South Africa, China had shown strong interest in investing in the African nation’s mining sector.
China, Africa’s biggest emerging market partner, has been investing in the continent’s mining and energy sectors.
China is interested in manganese, platinum and uranium. But S Africa is also cautious to see if their investment is going to benefit South Africa. It is critical for the country to ensure its own interest.
[Read More]
Mining Investment : Nippon Steel to Invest in Iron Ore and Coal Mines
Mar/13/2010 | Under : Coal Mine - Iron Ore Mine - Steel Industry - Stock
Nippon Steel Corp., Japan’s largest steelmaker, will pursue investments in iron ore and coal mines, joining rivals in a bid to curb costs and secure supplies of the steelmaking ingredients.
The company wants to supply 50 percent of its raw material needs by buying stakes in mines or developing new ones “as early as we can,” Executive Vice President Shinichi Taniguchi said March 4 in an interview in Tokyo. Mines partly owned by the mill supply 35 percent of its iron ore and 25 percent of its coking coal needs. [Read More]
Mining Companies Merger : Australian Iron Ore Merger BHP Billiton-Rio Tinto Delay
Mar/13/2010 | Under : Exploration - Iron Ore Mine - Steel Industry
The Australian Competition and Consumer Commission has set itself an April 28 deadline for ruling on the $US116 billion ($127bn) West Australian iron ore merger between BHP Billiton and Rio Tinto, a delay of two months on its target.
Last month, the ACCC said it had delayed its findings on the merger and had requested more information from BHP and Rio.
[Read More]
India Iron-Ore Producer Makes Bid for Australian Iron Ore Mine
Mar/13/2010 | Under : Iron Ore Mine - Steel Industry
NMDC Ltd., India’s biggest iron-ore producer, has teamed up with ABS Consulting of Saudi Arabia and Boulder Steel Ltd. to make a $230 million bid for a stake in an Australian iron-ore project owned by Atlas Iron Ltd.
A non-binding offer has been pitched to Atlas Iron for a 70 percent stake, which may be the Ridley project in Western Australia, the Economic Times reported, citing a person it did not name.
[Read More]
Steelmaker United States Steel Corp. Big Upgraded to “Buy” at Goldman Sachs
Mar/12/2010 | Under : Exploration - Iron Ore Mine - Steel Industry
Steelmaker United States Steel Corporation caught a big upgrade on Monday from analysts at Goldman Sachs.
The analyst raised its rating on X to “Buy” from “Neutral,” and lifted its six-month price target on the stock to $79 from $55. U.S. Steel shares had closed at $58.90 on Friday.
[Read More]