Glencore (LON:GLEN) has placed a multi-million-dollar bet on copper by investing just over US$21 million (GBP 16.16 million) into Brazilian copper producer Paranapanema (PMA).
Brazil Mining News
Prices have climbed almost 7% since Monday and almost 32% since the recent low of $53.36 a tonne hit on June 13.
From the recent low of $53.36 a tonne hit on June 13, iron ore prices have now surged more than 27%.
Ore with 62% content in Qingdao added $1.86 overnight to close at $65.91, the highest since May 3 and 20% more than those year lows hit mid-June
Combined worth of 50 largest mining companies grow to $768 billion during first half of 2017, but a few big names drop down rankings.
It also said that a Brazilian court had granted it and its partner Vale a four-month extension to negotiate a settlement to a $47 billion claim stemming from the 2015 mine disaster.
Physical markets, not just futures speculation behind the latest rally
Jandaga Mines is taking advantage of investors' concerns over buying into South African platinum businesses.
Shareholders of Brazil's Vale SA approved a share conversion plan on Tuesday in a move that should boost transparency, give equal votes to all shares and limit government meddling in the world's No. 1 iron ore producer.
China bulls kick iron ore price 6.5% higher.
Global environmentalist Yolanda Kakabadse to Chair IUCN independent scientific panel on Brazil’s Rio Doce watershed
IUCN former President, globally recognised environmentalist Yolanda Kakabadse, will Chair the new IUCN independent scientific and technical advisory panel on the restoration of the Rio Doce watershed in Brazil, following the 2015 collapse of the Fundão tailings dam at the Samarco iron ore mine.
Brazil ministry wants to open border regions to foreign miners. Amazon-basin area about the size of Alaska could be affected.
New Citigroup report predicts low $40s by end of the year, early 2018.
The world’s largest mining company announced that Ken MacKenzie has been elected to succeed Jac Nasser
Agreement is part of plan to double investment in the sector to $25bn in eight years.
Stuart Chambers, 61 and former chairman of UK chip designer Arm, will join Anglo as a non-executive director in September, replacing Parker in November.
A second vessel contracted to haul iron ore for Brazilian miner Vale SA was delayed for repairs following the loss of a similar ship that mysteriously sank en route to China leaving 22 people presumed dead.
Company called Pallinghurst Resources' bid “derisory”, adding it "clearly undervalues" the firm.
Iron ore's transformation from a relic of the industrial age to the driving force behind a commodity supercycle that reshaped the global economy.
30m tonnes per year operation jointly owned by BHP and Vale shuttered since November 2015 following dam burst.
The company, which could lose the arbitration as a result, will have to pay the amount to former partner Vale.
Move comes barely seven months after Rio Tinto agreed to sell it its stake in Simandou for up to $1.3 billion.
Governments, industry players, unions expected to sign federal mining agreement this week, which aims to double investment in the sector to $25bn in eight years.
And why the worst may be over already.
Net income totalled $2.5 billion, compared with profit of $525 million in the prior three months and almost $1.8 billion a year earlier.