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Australian Mining Exploration Sector Wise To Cut Iron Ore Production
Cutting iron ore production was a prudent move by Australian miners battling a slowdown in demand from China ahead of negotiations on contract prices with the Asian giant, analysts said Tuesday.
BHP Says High-Cost Nickel Producers Under Pressure
Reported on bloomberg news today, BHP Billiton Ltd. said high-cost competitors are under pressure because of falling prices and slowing demand for the metal used to make stainless steel.
There may be a 22,700 metric ton nickel surplus this year, increasing to 47,400 tons next year, the Melbourne-based company said in a presentation today to [...]
Chinese Steel Industry Plans Iron Ore Mine From Australia’s iron ore producers
Futher evidence that Australia’s iron ore producers face tougher price negotiations emerged yesterday with the release of a report that suggests the Chinese steel industry is operating at a loss.
The Chinese steel industry has already bought more than $10 billion worth of Australian iron ore this year and is preparing to enter the next round [...]
Copper, Nickel Extend Declines on Lower World Demand for Metals
Copper fell to a three-year low and nickel dropped to the lowest since 2003 on speculation that a global economic slump will curb demand for metals from investors who had helped send commodities to a record in July.
Copper fell below $4,000 a metric ton in London for the first time since October 2005, and the [...]
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 [...]
Australian Mining Sector To Correct Bad Image of Mining in RP
THE Australian government, which has repeatedly expressed strong interest in the Philippines’ mineral sector, intends to erase the “ignorance” of mining communities by bringing their representatives to Australia to see firsthand what responsible mining operation is.
Senior Trade Undersecretary Thomas Aquino said this is an approach that the governments of the Philippines and Australia are looking [...]
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 [...]
Mining Exploration And Development Company Stocks On Market and Trade Reports
Bloomberg online news today report, the biggest mining exploration and development company, BHP Billiton and Incitec Pivot Ltd. led drops in commodity stocks on concern looming recessions in the U.S., Europe and parts of Asia will further cut raw-material prices and demand.
BHP slipped as much as 5.6 percent to an 18-month low and Incitec [...]
BHP Billiton Petroleum Resumes Oil Production in the Gulf of Mexico
BHP Billiton Petroleum announced today that oil production has been safely restored at its Neptune and Shenzi/Genghis Khan fields in the deepwater Gulf of Mexico after Hurricane Ike caused the company to shut in production on both fields. Production is ramping up as the export pipelines are able to take the increasing volumes.
Natural gas from [...]
