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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.
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.
India Mining Exploration Sector Review and Mining Investment Future
India is state that is always experiences improvement in doing exploration of mine, as reported in the year 2007 exploration sectors of mine in India experiences improvement of 32 per cent. But in the same year of cost to do exploration of mine experiences improvement 38 per cent.
This condition makes some mine companies to do [...]
Coal Mine Exploration Company, Pike River Coal’s rise arrested by 10% fall
Volatility in New Zealand’s sharemarket came home to roost for coking coal mine producer Pike River Coal whose dream share run came to abrupt halt yesterday after gaining nearly 50% in value in the past month.
Pike River shares have steadily risen 48%, from $1.67 on May 30 to trade around $2.47.
However, yesterday they fell more [...]
BHP-Rio deal and China to spur metals, mining M&A
BHP’s (BHP.AX) proposed bid for rival Rio Tinto (RIO.AX) and the rise of emerging market players, particularly China, will force further consolidation in metals and mining, industry experts told a conference this week.
At least three more transactions worth over $50 billion are likely by June, Ernst & Young’s Partner in Charge for Global Mining and [...]
BHP seeks to build £170bn mining superpower
Rio Tinto confirms biggest takeover move since dotcom boom.
The world’s largest mining group, BHP Billiton, is seeking to take over its rival Rio Tinto in a deal that would catapult it to a market valuation of about $360bn (£170bn), bigger than Microsoft and equivalent to the gross domestic product of Ukraine.
After weeks of market rumours, [...]
American Investors and Business Interest Investment in China Coal Mining Sector
As China’s appetite for coal is booming, American investors and businesses are cashing in.
American pension and mutual fund money is being invested in the Chinese coal industry, which is lucrative but in general has a poor record for pollution and worker safety.
The biggest Chinese coal company is China Shenhua Energy Co. of Beijing, which produces [...]
Uranium Funds Points to Near-Term U3O8 Price Decline
Nuclear Market Review [NMR] editor Treva Klingbiel reported in this week’s issue, “Two sellers that were evaluating bids in response to their auctions have concluded their evaluations and have decided not to sell at this time.” She added, “Both sellers preferred to make delivery in June while most bidders were seeking delivery for several months [...]
South Africa: Mining Sector Profits Up 64 Percent
A report by PricewaterhouseCoopers, ‘Mine – Riding the wave’, shows that 2006 was another spectacular year for the global mining industry with net profits rising by 64 percent. They are now 15 times higher than their 2002 level while return on equity reached 33 percent compared to 26 percent in 2005. It also finds that [...]
