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Sino Gold Mining Company Says Slowdown May Offer Acquisition Chances
Sino Gold Mining Ltd., operator of China’s second-largest bullion producer, said the financial crisis and economic slowdown may allow it to pick up assets in the Asian nation.
“We see this as a tremendous opportunity for further growth in China,” Chief Executive Officer Jake Klein said today in an interview in Beijing. “We see, at [...]
Mining Companies Share Markets Slump on Earnings Fears
World stock markets slumped Wednesday as a stream of disappointing corporate earnings in the U.S. fueled pessimism about the global economy despite further thawing in credit markets.
Britain’s FTSE 100 index of leading shares closed down 189.84 points, or 4.5 percent, at 4,040.89, while Germany’s DAX was down 213.34 points, or 4.5 percent, at 4,571.07. The [...]
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 [...]
The Price Of Copper Mine Increases Influenced Demand Increase Of Copper From China
Mr. Bhar also said a 3,100 tonnes fall in LME copper inventories suggested demand from China, the world’s largest importer and consumer of the red metal, was starting to pick up.
Copper for delivery in three months on the London Metal Exchange was up $140 (U.S.) at $7,180 a tonne by 0925 GMT from Friday’s close [...]
Mining Companies Preview in Asian Trade and Market : Rio Tinto, Thai Oil, Ayala Land,
Bloomberg news reported, unusual price changes in Asian markets, excluding Japan, on Aug. 11. Stock symbols are in parentheses, and share prices are from the previous close.
Alliance Global Group Inc. (AGI PM): The investment company of Philippine billionaire Andrew Tan will receive $335 million from Star Cruises Ltd. for a 50 percent stake in their [...]
India Iron Ore Mining Company Exploration Reported, Vedanta Profit Rises 6.3%
Vedanta Resources Plc, the mining company controlled by India billionaire Anil Agarwal, said fiscal first-quarter profit rose 6.3 percent on record iron ore output.
Earnings before interest, tax, depreciation and amortization advanced to $739 million in the three months ended June 30, from $695.4 million a year earlier, the London-based company said today in a statement. [...]
Canadian Mining Company Plans to Invest A$5.3 billion in Australian
Waratah Coal Inc., the Canadian company proposing Australia’s largest coal mine, may seek partners to help develop its A$5.3 billion ($5.2 billion) mining, port and rail project and gain from rising prices.
The mine may start shipping fuel from a harbor, the first new coal-export port in Australia for 25 years, by 2012, the Queensland state [...]
China Mining Exploration and Producer Company Agree to Cut Output by 10%
Mining Exploration Company News, China’s biggest aluminum producers, the largest in the world, agreed to cut output by as much as 10 percent to ease a power shortage, sending metal prices to their highest ever.
Aluminum Corp. of China Ltd. and 19 of its peers signed the accord today to curb supply by 5 percent to [...]
Mining Company Shares Reported, Pike River Shares Fall As Coal Mining Shares Tumble
The big mining exploration company Pike River, down 23 cents to $2.17, has only just been promoted to the top 50 index and it has yet to complete a tunnel to the coal seam mine it plans to tap at its West Coast mine north of Greymouth.
Last week, it put back the date it will [...]
