Mining industry
Falconbridge Ltd., a leading nickel and copper producer, forecasts a market deficit of 16,000 metric tons of nickel this year, according to Santo Ranieri, the company's director of research. However, the deficit is expected to dwindle in 2006 to a near-balance between nickel supply and demand, driven
Mining industry
Barrick Gold Corporation and Falconbridge Limited have finalized a joint-venture agreement regarding the Kabanga nickel deposit in Tanzania. Under the terms of the agreement, Falconbridge has acquired a 50% indirect joint-venture interest in the Kabanga Project for $15 million and will be the operator of the joint venture. Falconbridge will
Mining industry
Experts attending a recent iron ore meeting in Beijing agreed that the global market price should begin to drop in June due to increasing supply. Director Zou Jian of the China Metallurgy and Mining Enterprises Association described BHP Billiton's price hike request as "unnecessary," stating that
Mining industry
BHP Billiton, the Australian mining giant, has dropped its planned surcharge of up to US$10 per ton on its iron ore exports to Chinese steelmakers, agreeing instead to a 71.5 per cent price increase in line with its rivals. The move has been hailed as a victory for
Mining industry
Lignite's distinctive properties have made it a key component in cleaner steel production, particularly in electric arc furnaces, which account for approximately 34% of global steel production. The thermal treatment of scrap containing paint, oil, and other organic components can produce dioxin and furan, necessitating additional environmental emissions
Mining industry
China's rapid industrialization continues to fuel its appetite for raw materials, leading to a surge in commodity prices and boosting the profits of Australian resource companies such as BHP Billiton. Despite attempts to contain growth, China's demand for commodities is expected to remain strong for the
Mining industry
Uzbekistan's State Property Committee has decided to reduce the portion of its strategic steel mill Uzmetkombinat to be sold to foreign investors from 33% to 22%. The government will retain a controlling 51% stake in the enterprise, which has the capacity to produce 750,000 tons of steel
Mining industry
Union Steel Minister Ram Vilas Paswan announced on March 30 that Arcelor, the world's second-largest steelmaker, has expressed interest in investing in India's steel sector. Arcelor representatives have promised to send a company delegation to India for a fact-finding mission to explore investment opportunities and manufacturing
Mining industry
BHP-Billiton Limited's (ASX:BHP) bid for WMC Resources Limited (ASX:WMR) was met with surprise in the market, with a significant 85 cents a share offer that has seen prices surpass the $8 mark. CEO Chip Goodyear emphasized that the bid is based on the complementary nature of
Mining industry
Australia's largest mining firm, BHP Billiton, is set to invest heavily in Pakistan's export processing sector, with plans to establish a major export processing zone at Reko Diq in Balochistan. The zone, which is expected to process 40,000 tons of copper annually, will be a
Mining industry
After five months of fighting off Swiss-based predator Xstrata Plc, WMC Resources Ltd (ASX:WMR) has received a $A9.2 billion ($US7.29 billion) takeover bid from BHP Billiton Ltd (ASX:BHP), the world's largest mining company. The bid, which values WMC at $A7.85 ($US6.22) per
Mining industry
BHP Billiton's announcement to acquire WMC Resources Ltd. in an all-cash offer for approximately US$7.3 billion has prompted Moody's Investors Service to affirm the company's A1 senior unsecured rating and A2 senior unsecured rating of BHP Operations Inc. The rating affirmation reflects
