R/€ = 15.86 Change: 0.03
R/$ = 14.00 Change: 0.03
Au 1327.20 $/oz Change: 0.92
Pt 840.13 $/oz Change: 9.97


Japan's Mitsui trims FY profit outlook, to keep stake in Vale

By: Reuters     1st February 2019 Mitsui & Co on Friday cut full-year profit forecast by 2% due to the absence of a dividend from Vale, but the Japanese trading house does not plan to change its holding in the Brazilian miner, a company executive said. With 110 people confirmed dead and another 238 missing, according to... 

Japan's Marubeni to halve coal-fired power capacity by 2030

By: Reuters     18th September 2018 Japan’s Marubeni Corp said it would no longer start new coal-fired power plant projects and will halve its net coal power generating capacity of about 3 GW by 2030 to cut greenhouse-gas emissions and tackle global climate change. “As a general principle, Marubeni will no longer enter into any new... 

Carpentaria finds funding partner for Hawsons

By: Esmarie Iannucci     6th August 2018 ASX-listed Carpentaria Resources has reached an agreement with Mitsui & Co that would drive the development of the Hawsons iron project, in New South Wales. Carpentaria on Monday noted that the Japanese trading house will contribute A$5.4-million towards the cost of a bankable feasibility study... 

Japan's Mitsui may raise its stake in Vale – executive

By: Reuters     6th July 2018 Japanese trading house Mitsui & Co may boost its stake in Brazil's Vale SA if other shareholders sell part of their holdings, a senior executive said, giving it greater influence over the iron ore giant's management. Several Brazilian pension funds and BNDESPar, the investment arm of state... 

Brazil pension fund Funcef still considering sale of Vale stake

By: Reuters     12th June 2018 Brazilian pension fund Funcef is still considering whether to sell its stake in mining company Vale SA but sees no immediate urgency to do so, its director Paulo Werneck said on Tuesday, as funds try to avoid putting pressure on Vale shares. Speaking to journalists on the sidelines of a... 

Mitsui to keep stake in Australia's Kestrel coking coal mine

By: Reuters     1st June 2018 Mitsui & Co will hold on to its 20% stake in the Kestrel coking coal mine in Australia even after the planned sale of Rio Tinto's 80% stake in the mine, a spokesman for the Japanese trading house said on Friday. "We will continue to be involved in the Kestrel mine with new partners," the... 

Mitsui to raise stake in Chile's Collahuasi copper mine

By: Reuters     16th February 2018 Japanese trading house Mitsui & Co said on Friday it will reshuffle its copper assets in Chile, increasing its stake in the Collahuasi mine and selling a small stake in the Los Pelambres mine, boosting its overall copper volumes. Mitsui said it would buy a 3.6% stake in Collahuasi from JX Nippon... 

Japan's Mitsui wins bidding war for Australian gas producer AWE

By: Reuters     5th February 2018 Mitsui & Co won a three-way bidding war to take over Australia's AWE, after rival Mineral Resources failed to match the Japanese trading giant's A$594-million offer. Assuming the deal goes ahead, it would mark Mitsui's first takeover of an Australian company and give it a 50% stake in the... 

Mitsui boosts profit forecast on higher iron-ore, coal prices

By: Reuters     2nd February 2018 Japanese trading company Mitsui & Co on Friday said its April-December profits jumped over 60% from the year before and raised its full-year forecast to record levels, boosted by higher prices for iron ore and coking coal. Mitsui is now forecasting a net profit of 440-billion yen, up from its... 

AWE raises concerns over Chinese co's bid with takeovers panel

By: Reuters     2nd February 2018 Takeover target AWE has raised concerns over a bid for the company by state-owned China Energy Reserves and Chemical Group (CERCG) with the Australian Government Takeovers Panel, the regulatory body said in a statement on Friday. AWE, in its application, said that CERCG's bid fails to address a... 

AWE serves Mineral Resources notice to match Mitsui offer

By: Reuters     31st January 2018 AWE said on Wednesday it has given suitor Mineral Resources three days to match a A$594-million takeover offer from Mitsui & Co, or it will nominate the Japanese bid as a superior offer. The Australian gas producer said in a statement it notified Mineral Resources late Tuesday, giving it a... 

Mitsui heats up bidding war for Australian gas producer AWE

By: Reuters     29th January 2018 Japan's Mitsui & Co has made a $481-million offer to buy Australia's AWE, trumping bids from two other companies that are vying for a stake in a promising onshore gas field. The Mitsui offer of A$0.95 a share in cash, or about A$594-million, marks the first full takeover bid by the Japanese... 

Vale, partner Mitsui ink $2.7bn Nacala coal corridor funding

By: Henry Lazenby     28th November 2017 Brazil’s largest diversified miner Vale has announced that it, together with its Japanese partner Mitsui & Co, has signed a $2.73-billion funding deal to finance the Nacala Logistics Corridor (NLC), that will connect the Mozambique-based Moatize coal mine, to the Nacala port. Vale said in a press... 

Vale stocks trade lower as slower sales offset improved iron pricing

By: Henry Lazenby     27th April 2017 The world’s most prolific producer of iron-ore, Vale, on Thursday reported first-quarter earnings that disappointed investors, sending its NYSE-listed stock falling as much as 5.4% in early trading. The Rio de Janeiro, Brazil-based diversified miner reported net income totalling $2.49-billion... 

Vale completes Moatize sale to Mitsui, appoints new CEO

By: Henry Lazenby     28th March 2017 Brazilian miner Vale has completed the sale of its interest in the Mozambique-based Moatize coal project to Japanese miner Mitsui & Co, receiving an initial payment of $733-million. A further $37-million will be paid after the financing for the project is concluded, Vale said in a press release... 

Miners starved of M&A set to see deals revive following cutbacks

By: Bloomberg     9th June 2016 The metals and mining world might be about to see a resurgence in deal-making. Mergers and acquisitions in the sector reached a decade-low last year, accounting for 3% of transactions across all industries, Macquarie Group said. As long as commodities don’t plunge, weaker prices in the second... 

South32 CEO says Colombia nickel mine needs cash flow plan

By: Bloomberg     6th June 2016 South32, the diversified miner that’s cutting its global workforce on lower commodity prices, says its loss-making and strike-threatened Colombian nickel asset must deliver a plan to return to profits in the coming fiscal year to remain in operation. Cerro Matoso is facing a deadline of July... 

Mitsui looking to close deal to acquire stakes in Vale’s Moz operations by next March

By: Keith Campbell     20th May 2016 Japanese general trading company Mitsui & Co, part of the Mitsui group, has stated that it plans to close its deal with Brazilian mining and logistics group Vale to acquire stakes in the latter’s Mozambican operations by March next year. In December 2014, Mitsui & Co agreed to buy 15% of Vale... 

Mitsui to shut precious metals business in London, New York – sources

By: Reuters     12th October 2015 Mitsui will close its precious metals businesses in London and New York at the end of this year, two sources familiar with the situation said, due to sliding commodity prices and more stringent regulation. "Mitsui is shutting down precious in London and New York in December," one source said. 

Cause for concern as ‘rebranded’ silver fix goes live?

By: Henry Lazenby     18th August 2014 Several bullion dealers and analysts have in recent days voiced their opinions after the new London Bullion Market Association (LBMA) Silver Price was launched on Friday, arguing for increased transparency. Bullion dealer Sharps Pixley CEO Ross Norman on Friday said “as a first effort they got a... 

Silver market ushers in new era of electronic price benchmarking

By: Henry Lazenby     15th August 2014 In a move to increase transparency and the number of direct market participants, the silver market on Friday adopted a new electronic price-setting mechanism. The new electronic benchmarking mechanism brought an end to the 117-year-old ‘London Silver Fix’, following increased regulatory scrutiny... 

Anglo American restarts Chile Los Bronces mine after protest

By: Reuters     25th March 2014 Anglo American is restarting operations at its Los Bronces copper mine in central Chile following a brief but violent protest by contract workers, a spokesperson told Reuters early Tuesday. "Shift workers are already going up to the mine to be able to restart operations," said Marcelo Esquivel,... 

Shareholders frown at GBM's golden plans

By: Esmarie Iannucci     10th May 2013 The share price of ASX-listed GBM Resources fell by 5% on Friday after the company announced that it would be diversifying its project portfolio to include gold. A strategic review of operations to better position the company for growth, had suggested adding gold to the portfolio mix. GBM told... 


Latest News


Latest Videos



Mining Weekly is a product of Creamer Media.

Other Creamer Media Products include:
Engineering News
Research Channel Africa

Read more


We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store


Advertising on is an effective way to build and consolidate a company's profile among clients and prospective clients. Email

View options
Free daily email newsletter Register Now
Register Close