Despite weak short term demand and tough global economic conditions, long term supply constraints remain, which will lead eventually to higher commodity prices and significant rewards to companies that invest today, according to Deloitte and Industrial Info Resources.
Prices for iron ore, the main ingredient used to make steel, will probably average $139 a metric ton this year, down from a previous estimate of $144, Goldman Sachs analysts wrote in a research report today. Analysts from Morgan Stanley and Deutsche Bank AG also have forecast lower prices this year.
MEYERTON (miningweekly.com) – South Africa’s Minerals Minister, Susan Shabangu, on Wednesday opened the largest operating furnace of its kind in the world at Samancor Manganese’s Metalloys smelter in Meyerton, allowing mining giant BHP Billiton to beneficiate close to 30% of the manganese ore it mines locally and demonstrate its support for increasing value addition and downstream job creation.
Glencore International Plc (GLEN), awaiting approval for its $35 billion takeover of Xstrata (XTA)Plc, will resume talks in coming days with China’s competition regulator on the influence the group will have in the copper market.
Net income at the Indonesian unit of global nickel giant Vale last year fell to less than a quarter of the figure a year earlier, unaudited results released on Thursday showed, a dramatic plunge the company blamed on lower global prices for the metal.
Vale Indonesia posted a net income of $67.5 million in 2012, down 80 percent from $333.8 million the previous year. Revenue fell to 19 percent to $967.3 million from $1.2 billion.
China’s privately-owned Hanlong Group is talking to four State-owned steel mills to find a partner for the $4.7-billion Mbalam iron ore project in Africa, the chief executive of project owner and takeover target, Sundance Resources, said on Thursday
Faster growth in world steel production and a likely rebound in prices for coking coal should help Brazilian mining giant Vale SA reduce the discount at which it sells its iron ore, a company executive said Thursday
SAO PAULO, Feb 28 (Reuters) - Brazilian stocks rose on Thursday with shares of iron-ore mining firm Vale advancing on its outlook for improved profit, but concerns over U.S. economic growth weighed on oil producers. http://www.reuters.com/article/2013/02/28/markets-latam-stocks-idUSL1N0BSA3S20130228
YOU paid for it, so you should be able to see it. On Sunday the US government said that all federally funded research results must be available for free online. The UK made a similar decision last year.
Vale SA (VALE5), the world’s largest iron- ore producer, probably lost money for the first time in a decade in the fourth quarter after Chief Executive Officer Murilo Ferreira dropped unprofitable projects and wrote down assets.
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