mineral exploration project – commodity prices – mining stock- trade and market

Brazilian mining giant Vale’s second-quarter net profit surged on higher iron ore prices and stronger demand.

Vale, the world’s largest producer and exporter of iron ore and iron pellets, reported a second-quarter net profit of $US3.71 billion, up from $US790 million in the same quarter a year ago.

The miner, which is also the world’s second-largest nickel producer, said revenue for the quarter jumped 95.3 per cent to $US9.93bn, compared with $US5.1bn a year ago.

Prices for iron ore, which provides the bulk of Vale’s revenue, more than doubled in...

Reporting from Beijing – China has indicted four employees of the British-Australian mining giant Rio Tinto for alleged bribery and theft of commercial secrets, a move that paves the way for a trial in a case that has already elicited widespread international criticism.

Coal demand continues to increase, particularly of steel companies in China and India. Both these countries are the largest coal importer. Trend of increasing coal pushed some coal mining companies increase their coal production to meet demand for coal. Climatic conditions and the growth of steel industry in China is a factor affecting the increased demand for coal in China.

Iron ore mining company BHP Billiton is the world’s largest company and the world’s largest steel maker ArcelorMittal in talks...