Global Mining News in real time

Miners ‘covering their eyes’ as Chinese commodities demand is forecast to slump

By: Bloomberg After spending $1-trillion since 2002 on projects to feed China’s commodity boom, the world’s mining companies have a lot riding on their biggest customer. While commodities may be trading at five-year lows, the heads of three top miners – BHP Billiton, Vale and Rio Tinto Group – last week all... 

Iron-ore’s tumble seen continuing till end of 2015

By: Bloomberg With prices at a five-year low, only a handful of companies worldwide can make money selling iron-ore, according to UBS. Some Chinese mines have closed, while Western Desert Resources and London Mining have already failed. Pessimistic analysts expect the commodity to slide at least a further 14%... 

Talon Metals reports maiden resource at Tamarack project

By: Henry Lazenby TSX-listed Talon Metals on Tuesday reported a maiden resource estimate for its Tamarack nickel/copper/platinum project, in Minnesota. British Virgin Islands-based Talon in June clinched an earn-in agreement with Kennecott Exploration, a subsidiary of Rio Tinto Group, to acquire a 30% interest in... 

Talon Metals appoints sulphide deposit specialist to board

By: Henry Lazenby TSX-listed explorer and developer Talon Metals on Thursday reported that it had appointed internationally recognised sulphide mineralisation expert Dr Tony Naldrett to its board in preparation for forming a technical committee with new joint venture (JV) partner Kennecott Exploration to develop... 

Analyst sees Anglo either flourishing under Cutifani or being bought

By: Bloomberg Anglo American (Anglo) will either be successful at reorganising its platinum business and starting production at the Minas-Rio iron-ore mine in Brazil or be acquired, research company Sanford C Bernstein said. The metals producer is reviewing global assets to shore up earnings after CEO Mark... 

Coal seen slipping to 2010 low in Xstrata talks

By: Bloomberg Coal Seen Slipping to 2010 Low in Xstrata Talks: Energy Markets Xstrata, which sets prices for Australian thermal coal contracts, is poised to sell the fuel to Japan at the lowest level in three years amid speculation the nation’s imports will slow while Chinese purchases ease. 

Rio Tinto’s $3.9bn Mozambique coal bid may be scuppered by lack of rail, port capacity

By: Bloomberg Rio’s $3 Billion Mozambique Coal Bid Runs Off the Rails: Freight  Rio Tinto Group’s foray into Mozambique, which cost the world’s No. 2 mining company $3 billion, has highlighted a lack of rail and port capacity that threatens to check a coal boom in the southeast African nation. Rio bought coal... 

Rio Tinto targeting $5bn spending cuts, production boost

By: Bloomberg Rio Tinto Group, the world’s second-largest mining company, says it is targeting savings of $5-billion by the end of 2014, while simultaneously boosting production at its iron-ore, copper and alumina units. 

Company Announcement: Rio Tinto’s Pamela Naidoo inducted as President of the GSSA 

Rio Tinto’s South African country manager for Exploration, Pamela Naidoo has been inducted as the new president of the Geological Society of South Africa at its AGM on 5 July 

ANC mulls legislation to supersede mining contracts – official

By: Bloomberg South Africa’s ruling African National Congress (ANC) wants to forge an economy in which its natural resources best serve the country, says the head of the party’s task team formed to study a proposal to nationalise mines. National needs could take precedence over mining companies’ desire to... 

Copper production increase at Palabora

JSE-listed Palabora Mining, a subsidiary of the Rio Tinto Group of Companies, situated in the Ba-Phalaborwa area of Limpopo, reports a steady increase in its copper production in its fourth quarter results, ending December 31, 2010.  

08/10/2010 (On-The-Air)

By: Martin Creamer Russian company has swooped on a promising new South African iron-making technology; Action has begun, finally, on the development of a new solar park in sunny Upington and wo mining companies have succeeded in turning polluted mine water into drinking water that is being bought by a local... 

$1,39bn OZ Minerals deal secures Chinese entry into Australian mining

By: Bloomberg Shareholder in OZ Minerals last week approved a plan to sell $1,39-billion of assets to China Minmetals Group to cut debt after the Chinese company sweetened its offer yesterday to fend off rival proposals. About 92% of shareholders voted in favour of the plan at the Melbourne-based company’s... 

Former Indophil MD joins Intrepid Mines' board

TSX- and ASX-listed Intrepid Mines has appointed Alan Roberts as a director of the company, effective November 11. Roberts has held various positions with the Rio Tinto Group in Australia, South America, UK, Indonesia and Papua New Guinea and is also a former MD of Indophil Resources.  

Israeli, Indian investors to spend $10bn on iron-ore venture

By: Bloomberg Israeli and Indian investors will spend as much as $10-billion developing what the Democratic Republic of Congo says is Africa's biggest iron-ore project. 

Company Announcement: Outlook for metals and minerals - Investor seminar

Attached please find a press release on: Outlook for metals and minerals - Investor seminar" release for the Rio Tinto Group as submitted to the London Stock Exchange.  

Company Announcement: Rio Tinto approves Diavik underground mining

Attached please find a press release on: Rio Tinto approves Diavik underground mining" release for the Rio Tinto Group as submitted to the London Stock Exchange.  

Company Announcement: Rio Tinto invests US$2.4 billion in two new iron ore mines in the Pilbara

Attached please find a press release on: Rio Tinto invests US$2.4 billion in two new iron ore mines in the Pilbara" release for the Rio Tinto Group as submitted to the London Stock Exchange. 

Australian port congestion incurs A$7,9-billion cost to coal industry

By: Bloomberg Australia, the world's biggest exporter of coal, risks losing as much as A$7.9 billion ($6.7 billion) in export revenue in the next decade if port and rail congestion aren�t resolved, government figures show. 

Coal major seeks halt to Australian coal mine approvals

By: Bloomberg Xstrata Plc, the world's largest exporter of thermal coal, wants Australia to halt new mine approvals to help ease port congestion that's caused a fourfold increase in penalties paid by the company because of delays. 

Company Announcement: Government of Quebec confirms that Rio Tinto�s offer for Alcan meets all of the requirements of the Continuity Agreement

Please find attached the following press release 'Government of Quebec confirms that Rio Tinto�s offer for Alcan meets all of the requirements of the Continuity Agreement' for the Rio Tinto Group as submitted to the London Stock Exchange. 

Carroll commits to matching Anglo’s offering to Chinese demand

By: Bloomberg Anglo American Plc, the world’s second-largest mining company, expects to have largely completed by year-end an overhaul to focus on the metals demanded by China’s expanding economy, CEO Cynthia Carroll said. 

Rio Tinto plans to spend 28% more expanding mines

By: Bloomberg Rio Tinto Group, the world's third-largest mining company, plans to increase capital spending 28% this year to expand iron ore, copper and coalmines to meet rising global demand. 

Ridge Seeks Partner for $690m SA nickel mine

By: Bloomberg Ridge Mining Plc said it expects to name a partner this year to help fund and develop a $690-million nickel mine in South Africa. 

Australian stocks drop, led by BHP and Rio as commodities slump

By: Bloomberg Australian stocks dropped for a fifth day. Resources companies such as BHP Billiton and Woodside Petroleum Ltd. slumped along with commodities prices including copper and oil. 

Rio, BHP may spend $2bn on US copper mine, UBS says

By: Bloomberg BHP Billiton Ltd. and Rio Tinto Group, the world's largest and second-largest miners by market value, may spend more than $2-billion on a US copper deposit after more exploration and studies, UBS AG said. 

Rio's efficiency programme to add 'billions' in value

By: Bloomberg Rio Tinto Group, the world's second-largest miner by market value, said an efficiency program will add “several billion dollars” to its net present value and help to cut costs and increase sales.Rio Tinto Group, the world's second-largest miner by market value, said an efficiency... 

Impala's new chief Brown sees mine performance as biggest test

By: Bloomberg David Brown, who today became chief executive of Impala Platinum Holdings Ltd., says his biggest test will be to reverse falling productivity and production grades at the world's largest platinum mine as prices trade near a record. 

BHP's striking Chile copper mine workers expect to reopen talks

By: Bloomberg BHP Billiton's mine workers in Chile expect to resume talks to settle a strike in its fourth week that's cut production at the biggest copper mine in the world by half. 

BHP to increase production at Escondida copper mine

By: Bloomberg BHP Billiton will seek to increase production in Chile at its Escondida copper mine, the biggest in the world, as more than 2 000 workers extend a strike that's cut output in half into a fourth week. 

BHP Billiton to return $3bn more to shareholders, bullish on outlook

By: Bloomberg BHP Billiton, the world's biggest mining company, will buy back $3 billion of stock after posting a 77% increase in second-half profit on rising copper and iron ore prices. Net income rose to a record $6.1 billion in the six months ended June 30, from $3.45 billion a year ago. Second-half profit... 

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