Marius Kloppers, boss at global miner BHP Billiton said that he has taken some stringent steps because of Chinese spying and also because of rising competition in the mining area. That is the reason why he pushed for more competitive pricing of the key commodities in the market.
BHP is the biggest miner and is the one that had agreed to trade intelligence information on China with Washington. They had also informed the US diplomats about the kind of surveillance that is done on the firm.
After years of environmentalists’ protests, German utility E.ON has finally conceded to shelving plans for its commercial-scale coal plant in Kingsnorth, Kent.
The plant would have been the first new coal station built in the UK for decades, but would not have been a sound economic investment decision during this time of depressed power prices.
The project was part of the Government’s Carbon Capture and Storage (CCS) competition, which is slated to receive approximately £1 billion in Government funding.
Worldwide rating agency Fitch expressed that the fall down of BHP Billiton Ltd and Rio Tinto Ltd's considered iron ore making joint venture in Western Australia has no influence on their credit ratings.
The major mining giants on Monday established months of assumption by stating they had jointly decided to dump their planned tie-up in the Pilbara area due to the resistance from competition controllers.
Western Australia’s two major mining companies Rio Tinto and BHP Billiton cancel their ambitions to merge in a joint venture in order to start a joint iron ore production.
The planned joint venture of the two iron giants, which together are responsible for two thirds of all iron ore production on the globe, was supposed to bring about personnel and infrastructure savings of an amount of $10bn every year.
For BHP, the cancelation approximately result in a loss of 38p, or 1.7%, to £21.62 and for Rio Tinto the consequences are a loss of 100p, or 2.3%, to £40.44.
China will pay heed towards its mining giant BHP Billiton Ltd.'s bid for Potash Corp. where the government aims for Saskatchewan Inc., the Canadian fertilizer generator.
It is said that the company will receive full support from Chinese government and at the same time will explore overseas market too.
The world's largest fertilizer producer regulates 17% of the global output of potash one of the three major constituents of fertilizers.
Potash corp. stated that it is in talks with potential bidders who wish to challenge BHP Billiton's hostile $39 billion buyout.
On Tuesday, Japanese Mitsui & Co. revealed its alliance with Shenhua Group, the Chinese mining giant mainly for overseas mine development, coal-based chemicals and sharing the technology for improving the efficiency of coal use.
The partners will work together to supply coal to China as the demand is rapidly increasing in China and new coal mining projects such as in Mongolia are coming up.
On Tuesday, Nikkei reported in its morning edition that this new joint venture is eyeing to get the development rights to Mongolia's Tavan Tolgoi coal field.
Possessor of the Chilean mine where 33 workers countenance months pending set free have plead to the trapped men for pardon.
A co-owner of the San Esteban mining company, Alejandro Bohn that possess the San Jose mine, facing queries from a government committee examining security breakdown that guide to the accident.
According to BHP Billiton, the Anglo-Australian miner, this year’s profit for the Company has been $17.9 billion and the net debt has gone down to $3.3 billion.
The Company authorities said that the revenue has been generated from its petroleum and base metals sectors.
Kelly Quirke said that at the end of June, the net earnings were around $6.587 billion.
Higher prices for copper, nickel, and aluminum have helped in increasing the Company’s earnings.
Based on this huge profit, BHP Billiton is planning to acquire Potash Corp. of Saskatchewan Inc. by paying a massive $40 billion.
Offering an access to all the aspects of the Geology on the site is the opportunity that is available for a Senior Mine Geologist.
Keeping a target of supervising operation on the underground and manage grade control, there are sufficient amount of training and mentoring opportunities to be availed by juniors, also block modeling and resource development.
Although, the Senior Mine Geo is a small firm, yet it has its own involvement in developing and boosting the operations.
RIO Tinto is all set for a change in its Chinese strategy.
The mining Company is trying to emerge from its downfall due to corruption and appointed Chinese-born Ren Binyang as second in charge to Chinese President Ian Bauert.
On Thursday night, Rio Chief, Tom Albanese told Melbourne Mining Club that they have acknowledged that they have faced some challenges in China over the past year, and he had made it a personal objective to strengthen the relationships.
Sandfire Resources has finalized a deal worth $93.9 million with LS - Nikko Copper. LS - Nikko Copper is world's third largest copper smelter. The deal comprises of strategic alliance, $93.9m share placement and also, the sales prospects in future for Sandfire.
The Korean Company has taken the stake at $5.02 per share. After this deal, the LS- Nikko acquires a stake of 12.5% in Sandfire.
According to a recent report, the Association of Mining & Exploration Companies is reviving its campaign against the recent mining tax introduced by the Labor Government.
The industry is being backed by renowned businessmen like Gina Rinehart, John Singleton and Andrew Forrest.
It is also getting support from Keep Australia Afloat foundation.
Forrest, the Head of Fortescue Metals Group, made a verbal attack on Bob Brown, the Greens leader. He said that if his party wins in the election then, he would focus on getting increased returns from the miners.
The group based in Doncaster, which is in South Yorkshire and is UK’s biggest coal manufacturer swayed warning signals that it is also assuming pre-tax losses during the first half of the year to plunge up by £94 million, in spite getting assistance from the mounting of global coal prices.
The first half of UK Coal’s operating loss is anticipated to be approximated by £52m evaluated to £37.7m of previous year. It crafted a pre-tax loss of £81.5m during the first half of 2009.
Juanita M. Kreps, 89, who was a well-known economist, and grew up in a poor Kentucky coal-mining society and toiled hard, to be under President, Jimmy Carter, who was the nation's first female Commerce Secretary, died on July 5 in Durham, N. C. She had been suffering from Alzheimer's disease.
Dr. Kreps, a Duke University Professor, who was an expert of labor demographics of older people and women, said that she did not think of herself as a women's liberationist.
It has been reported that the Prime Minister of Australia, Julia Gillard decreased the tax imposed on mining companies, in order to succeed in getting the maximum support from them.
According to the sources, the tax on coal and iron ore earnings has been reduced to 30 percent, the lowest figure in the past few years.
Kevin Rudd was thrown out by Gillard few days ago because of his clash with the mining executives. The fight could have badly acted against Gillard.
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