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Russia’s Steel Companies Hold Negotiations With Iron Ore Mining Companies
On April 1, the start of China’s fiscal year, Russia’s steel producers hold negotiations with iron ore miners to work out the terms of their annual contracts.
The Biggest Mining Company, BHP Billiton Selling 28% of Iron Ore Mine Production at Forecast Decline in Contract Prices
BHP Billiton Ltd., the world’s largest mining company, sold 28 percent of its iron ore output at cheaper spot prices after customers deferred deliveries ahead of a forecast decline in contract prices.
British Mining Companies Face Challenge On Unjust Practices
Representatives of communities in Colombia, West Papua and the USA are in London to challenge the claims of two of Britain’s biggest mining companies that their operations are sustainable and fair. Critics say that in reality they are violating human rights and causing irreversible environmental damage.
Gold and Metal Prices in London Trade and Market, Gold Prices Drops as Haven Demand Declines
Gold dropped to a 10-week low in London on speculation the world financial crisis may be easing, reducing the precious metal’s appeal as a haven. Silver fell.
China Coal Mining Companies, Shenhua Group Suspended $2.5 billon Mine Project
The biggest China coal mining company has suspended a $2.5 billion mining exploration project. This act impact of global financial crisis.
China Oil Company, PetroChina Co. Reported First Time Drop Profit Since 2001
PetroChina Co., the world’s second- largest company by market value, posted its first drop in full- year profit since 2001 after refining losses widened fourfold and crude oil prices slumped.
Xstrata Will Identify and Execute Potential Purchase Mining Companies and Mine Exploration
Xstrata Plc’s Chief Executive Officer Mick Davis said takeover opportunities are starting to appear after a rout in commodity prices sent shares of mining companies plunging. bloomberg.com is reporting.
Several Mining Companies Hold Plans New Mines Onstream
The global financial crisis and sharp falls in metals prices have forced several companies to abandon or put on hold their plans to bring new mines onstream.
Barrick Gold Founder Say “No Bug” on Gold Prices
Peter Munk, founder and chairman of the world’s biggest gold miner, says even now he is no “gold bug”. In a career spanning 60 years, the 82-year-old entrepreneur amassed fortunes in hi-fi consoles and a south Pacific hotel chain before turning to gold mining.
