Global Economic Focus : China Wary Of “Double Dip” Economic Crisis This Year
Mar/14/2010 | Under : Economy - Investment
China vowed Sunday to remain alert to any renewed signs of economic crisis, but said it will hold the line against critics urging an appreciation of its currency and will not seek an aggressive leading role in world affairs.
Premier Wen Jiabao also repeated China’s stance that a recent dip in relations with the United States was entirely the fault of Washington for allowing the Dalai Lama to visit the U.S. and approving the sale of arms to Taiwan.
“The responsibility does not lie with the Chinese side, but the United States,” Wen said. “We hope the U.S. will face the issue squarely … so as to restore and improve China-U.S. relations.”
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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.
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Asian Stocks Rise to Six-Week High on U.S. Jobs Data
Mar/08/2010 | Under : Aluminium
Asian stocks rose, driving the MSCI Asia Pacific Index to a six-week high, as better-than-estimated U.S. jobs data and a pledge by French President Nicolas Sarkozy to support Greece boosted confidence in the global recovery.
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Asian Stocks Decline on China Lending Concern
Mar/05/2010 | Under : Copper Mine - Gold Mine - Mineral Exploration - Stock
Asian stocks fell as China’s Industrial Bank Co. predicted slower growth in new lending, while the euro retreated on speculation the European Central Bank will delay withdrawing stimulus measures.
The MSCI Asia Pacific Index dropped 0.7 percent to 119.97 as of 5:10 p.m. in Tokyo, after a four-day, 3.3 percent climb. [Read More]
Rio Tinto Group Double Capital Expenditure in 2010
Oct/30/2009 | Under : Coal Mine - Companies - Exploration
Rio Tinto Group, the world’s third- largest mining company, will double capital expenditure in 2010 after cutting net debt by 42 percent in the first nine months of this year.
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Australia Approves Yanzhou Coal Mining Company To Aquire Felix Resources Limited
Oct/30/2009 | Under : Coal Mine - Companies - Mineral Exploration
The Assistant Treasurer, Senator Nick Sherry, has today approved the application by Yanzhou Coal Mining Company Limited to acquire full ownership of Felix Resources Limited, conditional upon it complying with legally enforceable undertakings provided by Yanzhou.
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Mining Experts Suggest Zambia Government To Anticipate Copper Prices Changes
Oct/19/2009 | Under : Commodity Prices - Companies - Copper Mine - Mineral Exploration
A mining expert has warned that Zambia will lose a lot of revenue when copper prices on the international market hit above the US $7,500 per metric tonne mark due to an anticipated copper shortage likely to occur between 2010 and 2012.
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Asian Stocks Fall : Share Prices May Drop, U.S Fuel Growth and Lost More Jobs
Oct/06/2009 | Under : Companies - Stock - Trade & Market
Asian stocks fell for a third day, led by technology and mining companies, as economist Nouriel Roubini said share prices may drop and a report showed the U.S. lost more jobs than estimated.
Samsung Elec. Co., which gets 19 percent of sales from America, dropped 4.4 percent in Seoul. Mitsui & Co., which counts commodities as its biggest source of profit, lost 3.4 percent after oil and metal prices decreased. Hana Financial Group Inc. tumbled 13 percent after the Maeil Business Newspaper reported it may sell new shares. [Read More]