Chinese steel mills are turning their backs on India and embracing Australia as a source of higher-grade ore for steelmaking.
China Mining News
Iron ore's demand-driven price surge last year is increasingly looking like an aberration as supply factors once again start to weaken the price outlook.
Fresh bid is far better than the $2.55bn it offered earlier this month and considerably more than the $2.45bn offered by Yancoal, the Chinese-backed miner that is Rio’s preferred buyer.
Coal India, responsible for about 82% of the nation's total coal output, said the closures would save around 8 billion rupees ($124 million).
South Africa-listed Pallinghurst now needs just 60% of Gemfields’ shareholders to back its unsolicited takeover offer.
The acquisition would make of Yancoal Australia’s largest pure-play coal producer.
Mongolia’s renewed efforts to attract foreign investment it’s bearing its first fruits.
The precious stones miner has recommended shareholders to accept offer, despite considering it “unfair.”
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Global coal production is down record amounts thanks largely to China, BP's chief economist said Thursday, and coal's probably not coming back.
It sold $54.8 million worth of rubies, a record high for any Gemfields auction and a 24% increase in revenue from the previous record.
Gemfields, which mines for emeralds and amethysts in Zambia and for rubies in Mozambique, had already received a buyout offer from largest shareholder Pallinghurst Resources.
China, the world's largest energy consumer, burned the least coal in six years.
Chinese-owned Yancoal has signalled it may raise its bid for Rio Tinto's Hunter Valley coal assets, after striking the agreement with Mitsubishi to buy its stakes in the same mines.
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Coal shipments from North Korea to China fell from 1.4 million tonnes, worth $126 million, in January to zero in April.
Iron ore's transformation from a relic of the industrial age to the driving force behind a commodity supercycle that reshaped the global economy.
Chinese demand for refined copper up 30% in May while falling concentrate imports point to tight supply.
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The group of 31 people arrested over the weekend at the copper-mining town of Chingola, includes a pregnant woman and two other people with malaria.
Top Chinese gold producer Shandong Mining will have to arrange financing before unlocking its half of the Veladero mine in Argentina.
Up 2% on Friday as traders weigh impact of outage at BHP's largest iron ore mine in West Australia.
Steelmaking material dropped to $57.02 a tonne, marking a fresh seven-month low, as large stockpiles continue to weigh on the market.
Corsa Coal’s Acosta Deep mine, to begin operations in June, will create about 600 jobs.
After decades of hyper-growth and worsening pollution, China has fully embraced rapid transit as a way to keep cities moving.