The latest mining news on the web |
Southern Copper eyes selling direct to AsiaSouthern Copper Corp, one of the world’s largest copper producers, hopes talks with Asian buyers will lead to new direct sales, the company’s chief executive said on Thursday. ‘We already sell to Asia, but through traders. We want to do it directly,’ Chinese individual investors allowed to trade Au99.95-category goldIndividual investors were allowed to buy and sell Au99.95-category gold as of Friday at the Shanghai Gold Exchange (SGE), the Shanghai Securities News reported. In a notice issued on Thursday, the SGE said from Friday it would allow individual traders to Gold Price Higher in Hong Kong - Nov. 20The gold price in Hong Kong went up 53 HK dollars to 6,898 HK dollars per tael on Thursday, according to the Bank of China (Hong Kong). The price is equivalent to 747.91 U.S. dollars a troy ounce, up 5.75 U.S. dollars at Thursday’s exchange rate of one Teck Cominco could sell stakes in core assetsTeck Cominco would consider selling off minority stakes in some core assets to pay off debt if sales of noncore assets and cost cuts prove insufficient to do so, a company official said on Thursday. Teck announced several cost-cutting measures on Steel mills pulls out of Chilean iron ore mine talks in ‘buyers market’A group of major Chinese steel mills has ended talks on buying Chilean iron ore company as ore supplies considered ample. AngloGold agrees $1 bln loan to refinance bondANGLOGOLDASHANTI/ (UPDATE 1):UPDATE 1- * Signs $1 billion loan with Standard Chartered * Loan for one year, extendable until Nov. 2010 (Adds details) JOHANNESBURG, Nov 21 (Reuters) - South Africa’s AngloGold (nyse: AU - news - people ) Ashanti said on AngloGold Ashanti Announces Signing of US$1 Billion Loan Facility(MARKET WIRE via COMTEX) — AngloGold Ashanti (AU: AU News, chart, profile, more Last: Delayed quote data Add to portfolio Analyst Create alert Insider Discuss Financials Sponsored by: , , ) announces signing of a US$1 billion loan facility agreement Power utilities knock ministry door on coalreported that NTPC and various state such as Maharashtra, Andhra Pradesh have made a fresh appeal to the coal ministry to immediately resolve issues relating to the fuel supply agreement and e auction of coal as the coal stock situation is becoming worse BPIC to set up 1,320 MW power plant insaid that ‘We have received water linkage. The ministry of power has also recommended this project to the coal ministry for suitable coal linkage which we expect to receive in the next few months.’ He added that other necessary statutory clearances will Salim group offers to build power plant inbuild a 5,000 MW thermal power plant in the coastal region of the state, based on imported coal. However, it has yet to make a formal proposal to us Chinese gov’t mulls to impose fuel tax·NDRC expert says China due to levy fuel tax soon, report ·China likely to raise tax rebate for steel export ·China resource tax rise raises costs of phosphorous chemical firms ·Policy to cancel tax rebate on steel export not implemented on expected MP D.Bayarsaikhan: Personally, I am against 34%Q: Do you comments on the discussion of state budget of Mongolia? Stillwater Mining Company and United Steel Workers Union Begin Negotiations on Restructuring Plan at East Boulder Mine and Stillwater Mine(MARKET WIRE via COMTEX) — Stillwater Mining Company (SWC: SWC News, chart, profile, more Last: Delayed quote data Add to portfolio Analyst Create alert Insider Discuss Financials Sponsored by: , , ) , United Steel Workers (USW) and its Local 11-0001 as Chinese power consumption down on weakmonths. The CEC statement said ‘Power generation was dragged down mainly by a 5.2% YoY decrease in coal fired power supply, which accounts for about 80% of China’s total power.’ Analysts with Shanghai based Guotai Jun’an Securities said the drop in Twiggy’s mystery iron ore buyerFORTESCUE has announced that a mystery Chinese steel mill has agreed to boost its offtake agreement for 2009. This would increase its contract by 3.5 million tonnes to 5.5 million tonnes. News of the deal came as the company’s beleaguered share price Teck shares fall on debt-cutting planShares in Teck Cominco Ltd. dropped more than 15 per cent in afternoon trading Thursday after the debt-laden mining company suspended its dividend and unveiled its first steps to reduce its borrowings. Teck shares plunged to $4.31 on the TSX, off 17.4 NMDC signs MoU with WBMDTC for coalNMDC recently signed a MoU with West Bengal Mineral Development and Trading Corporation to explore, develop and mine coal at Deocha-Pachami block in Birbhum district, which has a reserve of 2 billion tonne. The MoU paves the way for geological Recession reports - Gloomy days for Indianrates Freight rates, especially in the dry bulk, sector continue to drop, as demand for iron ore and coal movement to China are yet to pick up about 90% of incremental demand on dry bulk cargoes globally actually emanate out of demand in China Tanker HEC and NTPC to set up ahave equal stakes in the JV. It is reported that this new entity will undertake the manufacture of coal handling plants and ash handling plants. The Heavy Machine Building Plant of the HEC which will be the nodal unit for this JV is reported to be Call for export duty removal as slowdown hits mining sectorNEW DELHI: Economic slowdown has gripped the mining sector with iron ore mining firms closing down operations in 20 mines and scaling down production in 50 mines by reducing the number of shifts. Most of the mine closures? in Orissa, Jharkhand and |
|
