Big miners expected to deliver strong results
While investors expect a more cautious tone to be sounded for the second half by the likes of Vale, Anglo American and Rio Tinto, strong demand from Asia is expected to have boosted first half earnings. See http://www.mineweb.com/mineweb/view/mineweb/en/page67?oid=108765&sn=Detail&pid=92730.
JP Morgan sees iron ore pricing moving to shorter-term system
The discrepancy between global iron ore and steel prices could lead to a shorter-term pricing system than the quarterly adjustments currently used by Brazilian iron ore giant Vale, and multinationals BHP Billiton and Rio Tinto, according to executive director of global ferrous products at JP Morgan, Jeffrey Kabel. The quarterly backward-looking pricing mechanism creates a [...]
Australian Miners’ Union launches Fair Go For Billionaires Campaign
By Andrew Vickers, General Secretary of the Australian CFMEU Mining and Energy Division Fair Go for Billionaires is the CFMEU Mining and Energy’s new ground-breaking campaign to focus public attention on Tony Abbott’s absurd promise to repeal the Australian Labor Party’s new Resources Tax and hand billions of dollars back each year to the rich and powerful [...]
West African iron ore: world’s biggest mine rush
“The three names dominating about 75% of global seaborne iron ore, Vale, Rio Tinto, and BHP Billiton, are full force involved in West African iron ore.” London-listed African Minerals has announced further significant Chinese investment in its Tonkolili, Sierra Leone, iron ore project, now by Shandon g Iron & Steel, which plans to put USD [...]
Ivanhoe to terminate contract clause banning other strategic investors
Ivanhoe Mines said it is opening its doors to strategic investors, a move that could force its largest shareholder, Rio Tinto,to pay a premium if it decides to seek control of Ivanhoe. See http://www.mineweb.com/mineweb/view/mineweb/en/page67?oid=107939&sn=Detail&pid=92730.
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