The Business of Mining - thebusinessofmining.com

The Business of Mining is written by Wilfred Visser on personal title. Wilfred has studied Mining Engineering at Delft University of Technology, the Netherlands. The MSc. Resource Engineering focuses on Mining Engineering after providing a foundation on geotechnical engineering, petroleum engineering, metallurgy & mining. After completing his MSc. degree, he worked as a strategy consultant with Accenture Strategy Consulting. The strategy department of the multinational firm formulates and implements strategies for multinational companies across industries. Currently, Wilfred is an MBA student at Instituto de Empresa Business School (IE) in Madrid, Spain. The top ranked 1-year MBA program brings together high performing young professionals from around the world. The program has a special focus on Innovation and Entrepreneurship.

World Steel Association expects record 2010

“Stronger-than-expected increases in steel demand in Europe, Japan and the former Soviet Union are propelling the global steel industry to a robust recovery this year, according to forecasts released by the World Steel Association. The […]

India court orders closure of Vedanta smelter

“Vedanta, the London-listed company founded by billionaire Anil Agarwal, has suffered a fresh blow in India, where a court has ordered the immediate shutdown of its massive copper smelter in the south, citing violation of […]

Vale plans Hong Kong share listing

“Vale, the Brazilian mining giant, plans to list shares in Hong Kong as the company seeks closer ties with investors in China, the world’s largest net iron ore importer by volume and its biggest market […]

Tin poised for record on supply shortfall

“Tin prices rose to a two-year high, less than 10 per cent below the metal’s all-time high set in mid-2008, as production problems in Indonesia, the world’s top exporter, continued to tighten the market.

BHP turns hostile with $39bn Potash bid

“BHP Billiton launched a hostile bid for PotashCorp on Wednesday, ignoring cries of undervaluation from the Canadian fertiliser group’s executives, as the mining company took its $39bn offer directly to shareholders.

Chinalco and Rio sign $1.35bn Guinea deal

“Aluminum Corp of China and Rio Tinto signed a $1.35bn deal on Thursday that allows the Chinese state-owned miner to buy in to a rich iron ore project in Guinea, in a move that places […]

Arcelor raises steel price; Nippon steel faces higher costs

“ArcelorMittal, the world’s largest steel maker, said it is going to increase its prices for steel by 10% this year, even as it expects steel demand to weaken throughout most of the world. ‘We need […]

De Beers CEO steps down after buoyant H1

“De Beers, the world’s biggest diamond producer, said that its chief executive has resigned, in a suprise announcement on Friday after reporting a surge in first-half net profits on the back of a rebound in […]

EU clamps down on loss-making coalmines

“Loss-making coal mines across Europe will have to close over the next four years after the European Commission clamped down on government aid to the sector on Wednesday. The move will hit hardest in Germany’s […]

Security Regulator probes Zijin

“Zijin Mining Group Co., China’s biggest gold producer by capacity, said that China’s securities regulator is looking into the company’s disclosure that one of its copper plants in eastern China is leaking acidic waste water.” […]

African Minerals in $1.5bn China pact

“The scramble for west Africa’s iron supplies gained pace on Tuesday when a Chinese steel mill agreed to pay $1.5bn for a minority interest in a single non-producing iron ore project in Sierra Leone. … […]

“Owners of dry bulk ships and tankers face sharp falls in profitability after rates for the largest ships at least halved since May on fears about ship oversupply and weak global demand. The fall-off could […]

Asian buyers in spate of Australian deals

“A spate of cross-border acquisitions in Australia’s mining and energy sectors was announced on Monday partly in response to the new government’s revised minerals tax and also because of China’s continuing thirst for commodities. Leading […]

Chalco drops $2.4bn Australian bauxite plan

“Chalco, the second-largest aluminium producer, has pulled out of a A$3bn (US$2.4bn) deal to develop a bauxite refinery in Australia, blaming a drop in aluminium prices and difficult global conditions. The Hong Kong-listed subsidiary of […]

Japan’s Sumitomo to buy Brazil iron ore mine stake

“Japanese trading firm Sumitomo Corp. said Thursday it will pay 1.93 billion dollars to purchase a 30 percent stake in an iron ore mine from major Brazilian steelmaker Usiminas. The investment will boost Sumitomo’s access […]

Zijin Ends Offer for Indophil

“China’s biggest gold producer, Zijin Mining Group Co., ended its offer to buy Australia’s Indophil Resources NL because the wait to get government approval for the deal in China was taking too long.” Source: Wall Street […]

Rio Tinto signs agreement on mining in Kazakhstan

“Global miner Rio Tinto signed an agreement on Wednesday with Kazakh state company Tau-Ken Samruk on joint prospecting and mining in the Central Asian state. Rio Tinto said in June it would be forced to […]

Top 10 Priorities for Rio Tinto’s CEO Tom Albanese

In the series of specials on the priorities of the CEOs of the world’s leading mining companies we analyze Rio Tinto this time. What is top of mind for Rio’s CEO Tom Albanese? Tom Albanese […]

Alcoa bets on operating cost cuts

“…the company is spending $1.5 billion to create a new, low-cost bauxite mine. The aluminum maker hopes that by spending now it will be able to become a lower-cost producer once the economy finally stabilizes.” […]

Australia and China sign over A$10bn of deals

“Canberra and Beijing signed 10 commercial deals worth more than A$10bn (US$8.8bn) on Monday as the two nations strengthened trade links during a state visit to Australia by Xi Jinping, the Chinese vice-president, who is […]

ACCC decision on Rio-BHP JV due July 22

“Australia’s competition watchdog has set a July 22 deadline to review a proposed $US116 billion ($A132.8 billion) iron ore joint venture between BHP Billiton Ltd and Rio Tinto Ltd. The Australian Competition and Consumer Commission, […]

Coal India Moves Toward IPO

“State-owned Coal India Ltd. is likely to file a draft prospectus in the second half of July for a proposed 130 billion rupee ($2.8 billion) initial public offering, a person with direct knowledge in the […]

EU to step up raw materials diplomacy

“An EU expert group has identified 14 raw materials seen as “critical” for EU high-tech and eco-industries and suggested that the European Union’s global diplomacy should be geared up to ensure that companies gain easier […]

Rio Tinto will open Michigan Mine

“Anglo-Australian miner Rio Tinto PLC Tuesday said it will invest $469 million to build the Kennecott Eagle nickel and copper mine in Michigan after receiving the final environmental approvals for the project. Rio Tinto plans […]

Liberia says signs $3 bln iron deal with BHP

“Mining giant BHP Billiton has signed a deal with the government of liberia to go ahead with a $3 billion iron ore project, an official in the west african country said on monday. The mineral […]