October 25, 2013

Rio sells stake in Clermont coal to Glencore for $1bn

The mining giant is selling its 50.1% stake in Clermont coal mine to a company jointly owned by Glencore Xstrata and Sumitomo Corporation.

October 18, 2013

China to become world’s main consumer of base metals by 2017— report

Wood Mackenzie also predicts the global base metals market will grow from 96Mt in 2013 to 122 Mt by the end of 2018.

October 4, 2013

Done deal: Rio sells mothballed Blair Athol coal mine to Linc Energy

Acquisition comes a day after Linc said it wants to get de-listed from the Australian market to re-list it in Singapore, in hopes of luring Asian investors.

October 2, 2013

Rio Tinto to sell closed Blair Athol coal mine

Talks with Linc Energy Ltd are said to be at an advanced stage and an agreement may be announced as soon as tomorrow.

September 18, 2013

Rio and Chalco abandon bid for $20bn bauxite deposit in Australia

The move surprised investors, especially since Chalco had previously held the lease and was willing to develop the resource.

August 23, 2013

BHP Mackenzie tightens senior executives’ belts: cuts bonuses, gives up shares

He won't be getting his full sign-on award shares worth US$1.5 million.

August 14, 2013

Goldman Sachs subpoenaed in metal prices investigation

The CFTC is looking into claims that the warehouses intentionally increased buyer costs by slowing the movement of supply.

August 9, 2013

Lawsuits against Goldman, JPMorgan, Glencore Xstrata pile up

Cases against big banks to expose role played by the London Metal Exchange, say experts.

August 8, 2013

Glencore Xstrata sues Jamaica-owned firm over alumina shipments

Commodities trader claims Jamaica firm won't send the alumina it still owes Glencore due to a new agreement with another firm.

July 29, 2013

Banks, metal warehouses and the ‘dark inventory’ game

FT's John Gapper writes: "This abrupt integration of metals trading and storage echoes how banks piled into subprime mortgages before the 2008 crisis."