Search Results for: foreign+mineral+companies
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China angered by mining tax: Barnett
Western Australia ”hitched its rail cart to China” the signing of a bilateral trade and investment, Premier Colin Barnett says. Mr Barnett said the willingness of the Asian economic superpower and dealing directly with WA was a sign of anger and resentment in China against the federal government about the proposed mining tax. On a two-day visit to China last week, Mr. Barnett signed an unprecedented memorandum of understanding with a peak economic planning body in China.
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$ 1.7 billion mining investment in Moz
Brazilian mining giant Vale has a new U.S. $ 1.7 billion (R11.39 billion) coal mine in Mozambique, tapping the southern African country’s coking and thermal coal reserves of about 23 billion tons. Mozambican President Armando Guebuza and outgoing Vale chief executive Roger Agnelli opened mine together on Sunday by pressing a button that an underground explosion, causing the company to bring the area its first coal from the mine in Moatize, outside the city of Tete in northwestern Mozambique. (more…)
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Gold rush mining in India, Zimbabwe
LONDON – Country, known for its mineral wealth in recent years witnessed a surge in mining due to rising prices of various metals. A metal that every mining company wanted to dig more gold now. The rising price of gold has lured almost all gold mining companies to increase their production.Several companies increased their worldwide operations in South Africa and Zimbabwe. Chile also wanted to increase copper production, but because of the recent earthquake could not do so. (more…)
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Mining Contracts in Australia Dive After Rudd Tax Plan
Mining acquisitions in Australia, the largest shipper of iron ore and coal, are set to a five-year low hit this quarter, after the government proposed a mining “super profits” tax. There have been 47 announced deals worth $ 914,000,000 for the quarter, compared with 89 deals worth 9.11 billion U.S. dollars in the three months ended June 30 one year ago, according to data from Bloomberg. That’s on track for lowest number of deals since the first quarter of 2006 and the lowest since the fourth quarter of 2005. (more…) -
Liberia, Sign $ 3 Billion BHP Iron Ore Deal
Monrovia – BHP Billiton has a 3 billion U.S. dollars signed a deal with Liberia for a major project to develop iron ore, an official in the West African country said Monday. The company is the latest in a series of mining companies that deals have been concluded for iron ore in West Africa – a politically unstable region, home to some of the world’s last large undeveloped mineral deposits – the prices of crude steel production material response after the sharp slowdown in 2009. (more…)