Search Results
India Mining Companies, India’s Sterlite Not Agree Acquire $2.6 billion From Asarco
The acquisition of copper miner Asarco LLC for $2.6 billion by India-based Sterlite Industries Ltd. is in doubt after Sterlite said it was backing out of the deal.
Lawyers for Asarco told a federal bankruptcy judge in Texas on Tuesday that Sterlite “cannot and will not” close the sale unless Asarco agrees to a price reduction.
Metals, Mining Companies Tumble in Europe on Severstal Output
Metals and mining companies slumped in European trading after OAO Severstal, Russia’s largest steelmaker, said it will slash output as much as 30 percent, showing the global financial crisis is eroding industrial demand.
ArcelorMittal, the world’s biggest steelmaker, declined 12 percent in Amsterdam. Severstal will cut output in the U.S. 30 percent, at the Cherepovets steel [...]
Iron Ore Mining Producer, BHP and Rio May Have to Share Australian Ore Railroads
BHP Billiton Ltd. and Rio Tinto Group, the second- and third-largest iron ore exporters, may be forced to slow deliveries after the nation’s highest court upheld a ruling that favors sharing their rail networks with rivals.
The High Court today rejected BHP’s effort to block Fortescue Metals Group Ltd. from using parts of its Mt. Newman [...]
Russia’s Strategic Resource and Mining Policy; Russia’s $140b Copper Prize A Political Stew
The decision last week to award Russia’s largest unmined copper deposit to two companies - Metalloinvest and Russian Technologies - that have never mined copper confirms just how private Russia’s strategic resource and mining policy remains and how unclear the prospects for the project continue to be.
All that is certain is that Udokan, a copper [...]
London Mining Plans to Produce 20m metric tonnes Iron Ore
London Mining and Saudi-based National Mining Company have announced the formation of their 50:50 held joint venture company, Saudi London Iron Limited (”SLI”), with registration number 1/1026 issued by the Saudi Arabian General Investment authority (SAGIA). SLI is targeting production of up to 20mtpa of DRI pellets from facilities near Tabuk in North-western Saudi Arabia [...]
First Quarter 2008 Financial and Mining Exploration Result by London Mining (report)
During the second quarter of 2008, London Mining has continued to make progress towards its goal of maximizing shareholder value by conducting a strategic review of its Brazilian operations. The resulting sale of Brazilian assets, announced on 20 August 2008 to ArcelorMittal for US dollars 809.9 million, marks the conclusion of the Brazilian strategic review. [...]
Mining Company Share on Trade and Market, What happen Rio’s Shares Dropped Slightly on London Trading
Why are Rio shareholders so anxious when growth is sizzling? They’re worried that the record runup in global commodity prices may finally have peaked. They also fret that the booming Chinese economy—the major driver of soaring costs for resources like iron ore and copper—could slow or even slump now that the 2008 Beijing Olympics are [...]
Mining Company, BHP Billiton Doubts’ Control More The World’s Iron Ore
Rio Tinto Group Chief Executive Officer Tom Albanese is proving to be an elusive target for BHP Billiton CEO Marius Kloppers now that the slowing economy, fading stock and commodity markets and a skeptical European Union are undermining the $US142 billion ($156 billion) hostile bid that four months ago was considered inevitable.
Global Demand for Iron-Ore Increase, Kumba on way to 50mtpa iron-ore production
Global demand for iron-ore is real, strong, and still rising. “China continues to invest, especially domestically,” highlights new Kumba Iron Ore CEO Chris Griffith.
“They are taking more than 50% of seaborne iron-ore. Even if there is a global downturn, we see that Chinese demand for steel, and, therefore, for iron-ore, will continue and increase. There [...]
