Anglo American’s South Africa investors open to improved BHP bid
Anglo American’s key South African shareholders are open to a takeover offer from BHP, with some advocating for an additional cash component to the bid, the Financial Times reported on Thursday.
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Nippon Steel sticks to plan to close US Steel deal by year-end
Japan’s top steelmaker, Nippon Steel, is sticking to its plan to close a deal by year-end to buy US Steel, which it expects to boost output and profits, the company said on Thursday, despite resistance to the transaction in the US.
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Anglo American’s South Africa investors open to improved BHP bid
Anglo American’s key South African shareholders are open to a takeover offer from BHP, with some advocating for an additional cash component to the bid, the Financial Times reported on Thursday.
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Visit: 21
Brazil court rejects requests to block $15.7 billion from Vale
A Brazilian federal court rejected a request made by the country’s solicitor general’s office asking that miners Vale, BHP and their joint venture Samarco pay 79.6 billion reais ($15.64 billion) for the 2015 collapse of a tailings dam.
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China’s 2024 iron ore imports similar to last year
Imports of iron ore by China, the world’s biggest buyer, in 2024 are expected to be around 1.17 to 1.18 billion metric tons, similar to last year’s 1.18 billion tons, a senior official of miner Vale said on Wednesday.
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Coal India reports 26% rise in profit as staff costs fall
Coal India Ltd., the world’s largest producer of the commodity, reported a 26% increase in fourth-quarter profit, driven by a drop in salary expenses and higher shipments to customers.
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Chinese miners see opportunities as BHP’s mega bid unfolds
China’s leading metals companies, including its state iron ore buyer, are considering their next moves following BHP Group’s blockbuster $39 billion approach for rival Anglo American Plc, potentially the largest mining deal in over a decade.
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Anglo American takeover price needs to surpass £30/share
A takeover of Anglo American Plc would need to be pitched at more than £30 ($37.6) per share, a higher price than BHP Group Ltd. offered last week, according to analysts and traders surveyed by Bloomberg.
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Visit: 69
Iron ore price retreats on weak Chinese industrial data
Iron ore futures prices fell on Monday after weak industrial data in top consumer China and the completion of of pre-holiday restocking by steelmakers ahead of May Day.
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Brazil iron ore exports seen surging in 2024 if rivers stay high
Brazil’s Corumba region could more than double iron ore shipments through neighboring Uruguay this year if there is enough water in the rivers, according to one of the biggest logistics companies on the Paraguay- Paraná Hidrovia system.
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Visit: 75
Iron ore price set for 3rd weekly rise on China demand
Iron ore futures were poised for a third straight weekly rise as prices largely consolidated gains on Friday, with improving demand in top consumer China countering higher portside inventories.
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Visit: 50
Teck copper output shoots up on QB mine, profit disappoints
Teck Resources, Canada’s largest diversified miner, saw its copper production jump by 74% in the first three months of the year, thanks mainly to the ramp up of the extension at its Quebrada Blanca (QB) mine in Chile.
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Visit: 48
Vale expects final agreement for Mariana dam reparations in first half of year
Mining company Vale expects to reach a final agreement with authorities for reparations for the collapse of the Samarco tailings dam by the end of the first half of this year, the company told Reuters in a statement on Wednesday.
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Visit: 54
Fortescue iron ore shipments fall short after derailment
Australia’s Fortescue on Wednesday logged a larger-than-expected decline in third-quarter iron ore shipments, following a derailment of ore cars and weather disruptions that also led to a slight cut in its outlook for annual shipments.
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Visit: 87
Iron ore price weakens amid waning China stimulus hopes, high portside stocks
Iron ore futures prices ticked lower on Monday, weighed down by diminishing hopes of more stimulus in top consumer China, high portside stocks, and risks of possible government intervention after a price rally last week.
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China state planner finalizes rule to set up coal production reserve system
China’s state planner on Friday finalized a rule to set up a domestic coal production reserve system by 2027, aimed at stabilizing thermal coal prices and supplies to power plants.
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Visit: 107
Iron ore price drifts higher as soft China data triggers stimulus hopes
Iron ore futures prices drifted higher on Thursday as the latest soft data from top consumer China triggered renewed hopes of more stimulus in the second quarter to underpin its economy.
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Visit: 94
Global coal power grew 2% last year, the most since 2016, survey says
The world’s coal-fired power capacity grew 2% last year, its highest annual increase since 2016, driven by new builds in China and decommissioning delays elsewhere, according to research published on Thursday.
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Visit: 95
Peabody falls as production issues, weather crimp coal sales
Peabody Energy Corp. shares sunk to the lowest in seven months after the biggest US coal miner warned that first-quarter sales will be lower than expected due to production issues at mines in Australia and weak demand in the US.
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Visit: 95
Vitol CEO confirms energy trading giant is getting into metals
Vitol Group confirmed that it’s starting to rebuild a trading book for metals after a long stint out of the market, with an “exciting decade” ahead.
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Visit: 85
BMO drops anti-coal policy amid Wall Street rebuke of ESG
BMO Bank quietly dropped its policy restricting lending to the coal industry in late 2023, helping it avoid being labeled an energy “boycotter” in West Virginia.
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Visit: 67
Scottish bacteria may help clean up acid mine drainage
Researchers at the University of Edinburgh discovered that bacteria found in areas polluted by acid mine drainage had the potential to detoxify the environment by removing heavy metals.
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Visit: 117
Fortescue partners with OCP Group for green energy development in Morocco
Australia’s Fortescue said on Monday it would form a joint venture with OCP Group to supply green hydrogen, ammonia and fertilizers to Morocco, Europe and international markets, as the iron ore miner looks to transform itself into a green energy superpower with a global footprint.
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Visit: 97
BMO drops anti-coal policy amid Wall Street rebuke of ESG
BMO Bank quietly dropped its policy restricting lending to the coal industry in late 2023, helping it avoid being labeled an energy “boycotter” in West Virginia.
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Visit: 94
Supply of 8.7 million tons of Mobarakeh steel products to the market
Mining News Pro - The CEO of Mobarakeh Steel announced that all the organization's goals were achieved in 1402 despite all the restrictions in the fields of electricity, gas and raw materials and said: If we consider the amount of product delivery to the domestic and export markets as the final performance of the company's ambitious employees, we must announce Since the beginning of 1402, 8.7 million tons of products have been transported to the target markets in the total domestic and export market, while fulfilling the planned goals, which has grown by 6% compared to last year.
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Visit: 97