The government is optimistic investors will push through with their mining projects here despite the continued softening of metals prices, the Mines and Geosciences Bureau (MGB) said.
“The outlook on metal prices remains bleak as the global economic crisis, which has beset most powerhouse nations, shows no signs of letting up any time soon,” the bureau [...]
Victory Nickel Inc. (”Victory Nickel” or the “Company”)(TSX: NI: 14.12, -0.69, -4.65%)(www.victorynickel.ca) announced today that it has waived the minimum tender condition of its offer (the “Offer”) to acquire all of the outstanding common shares (the “Independent Shares”) of Independent Nickel Corp. (”Independent”)(TSX: INI) on the basis of 1.1 of a Victory Nickel share [...]
JSW Steel Ltd., India’s third-largest producer, said it expects prices and demand for the metal will revive after next month as companies lower production.
“There may be some supply-side adjustments but we can expect some revival in demand after October,” Finance Director Seshagiri Rao said in an interview today. “Also, the cost of production remains high [...]
As the world`s three-largest producers of iron ore are moving to raise the prices for their products to be shipped in the first quarter of 2009, domestic steelmakers, including China Steel Corporation (CSC), will see profit margin slashed and have to find ways to reduce production costs.
An industry analyst noted the prices for iron ore [...]
The precipitous decline came despite 33.4 billion yuan ($4.9 billion) in subsidies in the first half of the year, Sinopec said.
In the first quarter, PetroChina reported that net profit plunged 31.5 percent to 28.8 billion yuan. First-half results are expected Wednesday.
Qiu Xiaofeng, a petroleum analyst at China Merchants Securities in Shanghai, estimates that PetroChina will [...]
Global copper supply will not be able to meet demand going forward, provided the developing world sustains its growth, midtier miner Metorex said on Thursday.
The company plans on quadrupling its own output of the metal to 135 000 t/y in 2011, and will spend some $400-million to build two big new projects to realise this, [...]
The Cleveland Iron Company was founded in 1847 to explore for iron ore in neighboring Michigan. It’s still in the same business today, but perhaps not for long.
Now known as Cleveland-Cliffs (symbol CLF), the 161-year-old firm proposed last month to merge with Alpha Natural Resources, a coal-mining firm. Cleveland-Cliffs’ largest shareholder, hedge-fund operator Harbinger Capital [...]
European stocks rose for the first time in three days as mining shares near their cheapest in seven months lured investors and Hewlett-Packard Co.’s earnings spurred gains by chipmakers.
BHP Billiton Ltd., the world’s biggest mining company, and Rio Tinto Group climbed at least 7 percent. Infineon Technologies AG, Germany’s largest semiconductor maker, rose 2.1 percent [...]
GlobeStar Mining Corporation (”GlobeStar” or the “Company”) (TSX:GMI) is pleased to announce results of the first 11 holes of the current drilling program at the Loma Pesada copper deposit in the Dominican Republic, including 6.82 meters of true width @ 2.66 % copper (”Cu”) (hole LP-22) and 9.14 meters @ 1.85 % Cu (hole LP-24).
“For the domestically driven, investment-driven sectors, such as the steel sector … we see these businesses performing well,” Chief Executive Marius Kloppers said at a presentation.
“Having just spent time in Beijing … in interaction with our customers over the past week, they absolutely support this outlook.”
The bulk of the downturn in China is occurring [...]