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China Steelmaker Compete For Import Of Coking Coal Next Year
China as a country that has the largest steel manufacturer in the world, probably next year will face competition with Japan and South Korea for coking coal. This year China’s coking coal imports increased 12-fold. Increased coking coal imports due to China’s government policy to close some coal mines that are not considered safe in [...]
Steel Company Arcelormittal Plans Iron Ore Purchases Increased In 2010
Indian steel maker, ArcelorMittal planning to increase purchases of iron ore in 2010. Increased purchases of iron ore in anticipation of shortage of iron ore that will be used to produce metal, special steel production. ArcelorMittal is also trying to improve its self-sufficiency in coking coal by 20 percent to 25 percent, from 15 percent.
Exxaro Halts Funding for Coal Mine In South Africa After Power Plant Delay
Exxaro Resources Ltd. halted funding for a coal mine in South Africa and Anglo American Plc said it may have to slow development of the fuel because of delays in developing power plants by state-run utility Eskom Holdings Ltd.
Exxaro suspended funds for a 9 billion-rand ($1.2 billion) extension of the Grootegeluk coal mine after Eskom [...]
Felix Shareholders Approve $3.2 Billion Yanzhou Coal Mining Takeover
Felix Resources Ltd. said its shareholders approved Yanzhou Coal Mining Co.’s A$3.5 billion ($3.2 billion) takeover of the Australian producer, with final consent from the Chinese authorities expected within days.
About 99.8 percent of votes were cast in favor of the deal, Felix said in a statement today. Approval will be sought from the Federal Court [...]
Coal Production From UK Coal Mining Company Lower Than Expected Target
Britain’s biggest coal producer, UK Coal reported a lower production than expected, prompting the company’s stock declined in the period of seven months. The problem companies face is a deep mine production. Mining company expects coal production could reach 6.2 million tons, but the company can only produce 5.7 to 5.8 million tons of coal [...]
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.
Rio Tinto Group Estimates Iron Ore Production Rose 7.5 Percent
Largest mining company Rio Tinto would predict an increase in iron ore demand from steel makers. Therefore, Rio Tinto will increase iron ore production of 7.5 percent. Rio Tinto iron ore will produce up to 210 million to 215 million metric tons in the second and third quarters. Production of iron ore was sourced from [...]
British Mining Company Rio Tinto Reported Iron Ore Production In The Third Quarter Increased 12 Percent
UK’s biggest mining company Rio Tinto reported iron ore production until the third quarter increased 12 percent from last year. Increased production of iron ore produced from the combination of two mining company Rio Tinto. Two mining companies combined yaiut Plc and Rio Tinto Ltd. Rio Tinto.
Mining Company Earning Reported : Anglo American First-Half Profit Has Fallen 30.6 Per Cent
Global mining giant Anglo American’s first-half profit has fallen 30.6 per cent because of weak commodity prices.
Net earnings dived to $US2.97 billion (about $A3.56 billion) in the six months to June, compared with $US4.28 billion in the same period last year. Revenues sank 37.9 per cent to $US11.13 billion.
