BHP Billiton abandons Rio offer
BHP Billiton has called off its bid for rival miner Rio Tinto, blaming falling commodity prices and regulatory demands that it sell off assets. See http://news.bbc.co.uk/1/hi/business/7747418.stm.
BHP Billiton pulls out of Gag Island project
Following last month’s BHP Billiton plc AGM in London, and before this week’s BHP Billiton Ltd AGM in Australia, the company has pulled out of one of its most severely criticised projects. Some commentators suggest that this was because of falling nickel prices. Others suggest it was because of the complexities of the Indonesian regulatory [...]
Vedanta subsidiary forced out of Kolli Hills
Although Vedanta’s operations in Orissa – specifically its planned bauxite mining of the Nyamgiri hills – have attracted considerable international criticism, prompting a number of major India and UK NGOs to adopt campaigns, comparatively little has been said about its other mining projects on the sub-continent. Now, thanks to action taken by activists in Tamil [...]
Vedanta may go ahead with Tuticorin copper smelter
The welcome news that Vedanta has been fprced out of the Kolli Hills has been somewhat over-shadowed by a decision, made in August by India’s Expert Appraisal Committee (Industry), but only just announced, that the company may double the capacity of its notorious Tuticorin copper smelter in the same state. Vedanta has also gained exemption [...]
Vedanta ramps up copper production in Zambia
Vedanta is “ramping up” its copper production at Zambia’s biggest mine despite rising costs, in the hope that it can drive down prices from its suppliers. This is virtually certain to result in lay-off of workers. And – according to a World Bank expert – despite the expansion, new orders just won’t arrive. Meanwhile – [...]
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