Shanghai rebar meltdown: The last time Chinese steel cost this much iron ore was trading at $70
Chinese rebar prices are now 8% lower than October 2011 lows, while iron ore prices remain 5% higher.
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Seven coal miners dead after explosion in northern Mexico
An explosion on Wednesday in a coal mine in northern Mexico killed seven miners, officials said, highlighting lax safety conditions in small mines that are often poorly regulated.
Harmony up 7% as punters bet Wafi-Golpu pre-feasibility will map out a Grasberg rival
Release of a pre-feasibility study for Wafi-Golpu in Papua New Guinea is expected any day now and punters hope drilling results that put the deposit into the same league as Freeport-McMoran’s Grasberg mine across the border in West Papua, Indonesia are confirmed.
Antofagasta Minerals ‘scored’ with appointment of ex-Codelco CEO Hernandez: analysts
FTSE 100 miner, copper giant Antofagasta PLC (LON:ANTO) announced Tuesday it had appointed Diego Hernandez, the former head of state miner Codelco, a move qualified by insiders as “a goal” for the London-listed Chilean miner.
Gold up $32 as QE3 drumbeat grows louder
Gold scaled the $1,600 an ounce level for the first time in three weeks on Wednesday as investors, worried about cheap money flooding markets and debasing the US dollar, turn to gold as an inflation hedge.
Harmony opts to starve illegal miners
The drastic step, as reported by Reuters, is to "cut supply lines to gangs of illegal miners used to staying deep in the mines for months on end, threatening lives and official production."
Third time’s the charm for Peru’s mining issues?
Faced with never ending environmental and social conflicts over mining projects, Peru's President Ollanta Humala decided yesterday to reshuffle his Cabinet… again…for the third time.
Teck Resources down 5% after profits more than halve
The diversified miner suffered lower realized prices across the board with copper down 14% to $3.57 a pound, its realized coal price was 26% below Q2 2011 at $202 a tonne. Zinc (-15%), silver (-24%), lead (-22%) and molybdenum (-18%) prices all declined.
Suncor to delay joint venture oil sands projects
Billions of dollars in joint venture projects with partner Total E&P Canada will be delayed, said Suncor Energy’s new chief executive Steve Williams on Wednesday, as both companies are analyzing alternatives to improve their profitability.