POSCO's revenue in Q3 rose 9.1% from a year earlier to 16.4 trillion won, beating the analysts' estimate of 16 trillion won.
Asia Mining News
The world's no.1 heavy machinery maker reported third-quarter earnings that topped analysts’ estimates, but said the ongoing trade dispute resulted in $40 million in extra costs for materials in the period.
He is said to have already begun training three to four people to succeed him in the job.
Brazil's Vale expects the EV revolution to boost battery market nickel demand to as much as 700,000 tons in 2025, from just 36,000 tons this year.
A rock burst at around 11 p.m. on Saturday destroyed part of a water drainage tunnel in a coal mine.
Gold demand in this years Dusherra falls by 40% in some pockets.
465,000 tonnes of nickel play 'hide and seek'
World salt exports rose to 64 million tonnes in 2017, up 10 million tonnes from 2016.
With its biggest stock overhang and a deal around its flagship asset in Indonesia close to being solved, the miner has said all options are open, even potentially a sale of the entire company.
Hedge funds that doubled down on bearish gold wagers are facing a gut check.
If this trend continues, then it’s going to be a dampener.
The move comes two weeks after India's top court said ArcelorMittal's bid for Essar Steel would become valid only if the acquirer cleared outstanding debt of Uttam Galva Steels and KSS Petron.
State-owned miner Inalum said the $3.85 billion deal is still subject to the issue of environmental recommendations and a special mining permit (IUPK) by the Indonesian government.
The copper market is currently experiencing a squeeze on physical metal which is unexpected.
The oil price is rising due to the upcoming restrictions on the sale of Iranian oil - the second of a two-part set of sanctions imposed on the Middle Eastern power following the Trump Administration’s decision in May to withdraw from the Joint Comprehensive Plan of Action (JCPA).
Steel demand expected to rise by 3.9% in 2018, but trade tensions are clouding global economic outlook.
CEO Fabio Schvartsman said the company would only invest further in nickel if global prices for the metal rise from $13,000 per tonne currently to around $20,000 per tonne.
First production from the $5.3 billion underground expansion of Oyu Tolgoi was originally scheduled for early 2020.
The goal is to reduce reliance on batteries from Asia, particularly China and South Korea.
Indonesia said industry association APRALEX had applied for safeguard measures, which can be used to protect a country's producers.
In the Indian market, gold futures this week touched their highest since July 2016 at 32,014 rupees per 10 grams.
Deputy Minister Fuziah Salleh, a long-standing critic of Lynas’ plant, offered to step down from the committee reviewing the facility following criticism that she would not be impartial.
Atalaya Mining produced 166,000 tonnes of copper concentrate in 2017 and has a market capitalization of 327 million pounds ($433 million).
Steel mills in India are increasingly tapping the global market for iron ore as they find it difficult to transport the key raw material from local mines
The global coal mining market is growing, with a CAGR of close to 2% from 2018-2022.