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Australian Mining Companies Forecast Strong Increase Iron Ore-Copper Mine Production
Australia forecast a strong rise in iron ore production and a 10 percent jump in copper mine output in the year to June 2010, even after factoring in a more prolonged economic slump that has already triggered supply curbs.
Australian Iron Ore Exporter, Fortescue Metal Held Talks With China Investment
Fortescue Metals Group Ltd., Australia’s third-largest iron ore exporter, has held investment talks with China Investment Corp. and Anglo- American Plc. The stock rose 12 percent.
Iron Ore Price and Demand Future, Vale Beats BHP, Rio as Top Pick on China Ore Demand
Cia. Vale do Rio Doce fell 27 percent this year in Sao Paulo, heading for the first annual decline since 2000. Now analysts say the world’s largest iron-ore producer is poised for its best performance in a decade.
Vale may double in the next year, more than twice the expected gains for the world’s biggest mining [...]
Mining Exploration Companies Competition Review, Rio Tinto and BHP Billiton Mine Exploration Result Sale
European Union antitrust regulators widened a probe of the BHP plan earlier this month saying they have “serious doubts” about a combination that would control more than a third of the world’s iron ore, the main ingredient in steel. Metals prices dropped 15 percent since March on concern that growth in China, India, the U.S. [...]
Australian coal prices reach record
Energy coal prices at the port of Newcastle, Australia, the world’s biggest export harbor for the fuel, rose 1.3 percent to a record on expectations of supply shortages in Asia and a disruption to deliveries from a Queensland State mine.
Coal for immediate delivery at Newcastle rose 96 cents to $76.95 a metric ton in the [...]
BHP Billiton, Rio May Enter Bidding War for Alcan (Update1)
Alcoa Inc., the world’s largest aluminum producer, may face competition for its $26.9 billion bid for rival Alcan Inc. from mining companies including BHP Billiton Ltd. and Rio Tinto Group, said Credit Suisse Group.
Alcoa could also become a target, said Credit Suisse analysts led by New York-based David Gagliano in a May 7 report. Potential [...]
BHP’s Kloppers Favored to Replace Goodyear as CEO (Update4)
BHP Billiton Ltd., the world’s largest mining company, may pick Marius Kloppers to replace Chief Executive Officer Charles “Chip” Goodyear, analysts said.
Kloppers, a South African, is president of BHP’s nonferrous metals business, which includes copper, lead, zinc and uranium oxide. The division contributes more than half of Melbourne-based BHP’s earnings.
Macquarie to Raise A$2 Billion in April Boart IPO, People Say
Macquarie Bank Ltd., Australia’s largest securities firm, plans to raise about A$2 billion ($1.6 billion) in an initial public offering of mining equipment maker Boart Longyear Group, two people with knowledge of the sale said.
Shares in Salt Lake City, Utah-based Boart will start trading on the Australian Stock Exchange in April, said the people, who [...]
Oil Trades Near Two-Month Low as Confidence Drops, Storm Passes
Crude oil traded near a two-month low in New York on signs slowing U.S. demand may take pressure off fuel stockpiles and as energy companies prepare to return workers to the Gulf of Mexico as Tropical Storm Ernesto passes.
Oil fell below $70 a barrel yesterday after a report showed consumer confidence in the U.S., the [...]
