China’s chances of gaining greater influence at the upcoming iron ore price negotiations are slim, despite the increased demand expected to result from the nation’s 4-trillion yuan economic stimulus package, experts said.
Rio Tinto, the world’s second-largest iron ore producer, said on Oct 10 it would cut its output by 10 percent due to shrinking demand [...]
Australian miner Fortescue Metals Group Ltd (FMG.AX: Quote, Profile, Research, Stock Buzz), which relies solely on sales of iron ore to China’s steel sector, on Monday denied a report it was in talks to sell a stake in the company to a Chinese sovereign wealth fund.
The South China Morning Post reported that China Investment Corp [...]
Rio Tinto Group, the second largest iron ore exporter in the world, intends to cooperate with Aluminum Corp of China Ltd (Chalco)<601600><2600> on the joint exploration of new iron ore mines in Australia as well as infrastructure development in Queensland, sources reported.
Rio Tinto may set up a joint venture with Chalco to further enhance its [...]
Rio Tinto Group, the second biggest iron ore exporter in the world, decides to slash output by 10% at its mines in Western Australia due to decreased demand from steel makers in China, sources reported.
The output cut is in line with revised customer delivery requirements due to lower demand in Chinese market for the fourth [...]
China’s iron ore imports may fail to increase next year for the first time since at least 1999 because of slowing demand from steel mills, an industry group said.
Imports may remain at 400 million metric tons next year, unchanged from 2008 levels, Zou Jian, chairman of the China Metallurgical Mining Enterprise Association, said in an [...]
Zijin Mining Group Co., China’s largest gold producer, may spend as much as 20 billion yuan ($3 billion) on acquisitions, taking advantage of the global plunge in equities and asset values.
The drop in valuations provides “the biggest opportunity for companies like us,” Chairman Chen Jinghe said yesterday in Beijing at a conference. “We have sufficient [...]
