Santo Domingo.- President Danilo Medina will meet in the National Palace Monday morning with workers’ representatives of the miner Xstrata Nickel Falcondo, after it announced Wednesday that it will temporarily shutter operations in Dominican Republic.
Presidency Administrative minister Jose Ramon Peralta stated the government’s concern with the situation facing the mining company’s workers.
The company will focus on developing assets in Russia, mostly its Arctic projects, while it plans to sell assets in Africa and Australia, it said in a presentation on strategy to investors in London today.
Annual capital spending for 2014 through 2016 will be about $2 billion, including as much as $2 billion over the period to develop existing assets and as much as $3.2 billion of “stay-in-business” expenses, it said. It will spend as much as $1.2 billion on new projects in the period.
(RTTNews.com) – BHP Billiton (BHP.AX, BLT.L, BBL, BHP) outlined its productivity agenda to capitalise on the next phase of the Asian growth cycle. The company said the commodities that would feed future China growth would require Australia’s resources industry to continue to improve its competitiveness. As China transitions to a more consumption based economy, the company expects that commodities supporting the production of food, energy and consumer goods will see more durable demand growth over an extended part of the economic development curve.
London (Platts)–4Oct2013/715 am EDT/1115 GMT
Russian producer Norilsk Nickel has embarked on a new corporate strategy, the company said Friday at an unveiling in London.
The new corporate strategy will focus on the company’s tier 1 metals and mining assets in Russia, with an emphasis on value and investment discipline, CEO of Norilsk Nickel Vladimir Potanin said in a presentation Friday.
Oct 3 (Reuters) – China‘s Minmetals has submitted a first-round
bid for Glencore-Xstrata’s $5.9 billion Las Bambas copper mine in Peru, Gu
Liangmin, managing director of the state-owned metals and mining company, said
on Thursday.
http://uk.reuters.com/article/2013/10/03/minmetals-lasbambas-idUKL6N0HT3I420131003
JAKARTA: Indonesia and China inked trade and investment deals worth $28.2 billion on Thursday as Chinese President Xi Jinping paid a state visit to Southeast Asia’s biggest economy.
Representatives from the two countries’ business communities signed deals in the mining, manufacturing, energy and transport sectors.
http://www.channelnewsasia.com/news/business/international/china-indonesia-ink-deals/835564.html
CHANGSHU, China, Oct. 3, 2013 /PRNewswire-FirstCall/ — Sutor Technology Group Limited (the “Company” or “Sutor”) (Nasdaq: SUTR), a leading China-based non-state owned manufacturer and distributor of high-end fine finished steel products and welded steel pipes used by a variety of downstream applications, today announced that it has made significant progress on developing B2B Internet Trading Platform.
As of today, a number of globally well-known companies have joined the platform, including AkzoNobel, Minmetals USA, China Minmetals Corporation, Baogang Group and China Railway Group Limited.
http://online.wsj.com/article/PR-CO-20131003-905539.html
Despite a weak lead from Wall Street where stocks ended lower overnight amid concerns about the U.S. government shutdown and weak private sector jobs data, the Australian stock market is trading higher on Thursday on the back of firm commodity prices.
http://www.rttnews.com/2197620/australian-market-advances-on-firm-commodity-prices.aspx
he new law may help boost investor confidence as protracted conflicts with key foreign investors in Mongolia, including Rio Tinto Group (RIO), deters investments. Foreign direct investment plunged 47 percent in the first eight months.
PERTH (miningweekly.com) – Diversified major Rio Tinto has completed the first phase of the expansion of its Pilbara iron-ore operations, with the miner officially opening its Cape Lambert wharf B on Wednesday.
The wharf would assist in bringing Rio’s overall iron-ore capacity to 290-million tonnes a year, making it the largest iron-ore operation in Australia and the second largest in the world.
http://www.miningweekly.com/article/rio-launches-new-wharf-2013-10-02
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