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Anglo American Will Sell Mining Assets And Cut Management Layers After Xstrata Down Bid $ 48.2 Billion
Anglo American has started reorganizing since taken over in 2007. Anglo will reset the company management and will sell a number of mining assets owned by Anglo. Assets to be sold mines zinc mining, steel production assets Scaw Metals.
China Coal Mining Exploration, Shenhua Energy Wins Australia Coal Exploration Permit
China Shenhua Energy Co., the world’s largest coal producer by market value, agreed to pay A$300 million ($261 million) for a coal exploration license in Australia as it expands overseas to gain supplies.
Shenhua’s first foreign exploration permit is a 190-square kilometer area near Gunnedah in New South Wales state. The site is expected to contain [...]
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. [...]
Xstrata 2006 Net Rises 14 Percent on Metals Prices (Update7)
Xstrata Plc, the world’s fourth- largest copper and nickel producer, said full-year profit rose 14 percent to a record after metal prices surged.
Net income advanced to $1.95 billion on a consolidated basis, or $2.39 a share, from $1.71 billion, or $2.27, a year earlier, the Zug, Switzerland-based company said today in a statement. Profit based [...]
