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India Venture to Bid for Coal Block in Mongolia

“India’s International Coal Ventures Pvt., or ICVL, plans to bid for developing huge coal reserves in Mongolia’s Tavan Tolgoi mining deposit, government officials and industry executives said Thursday. ICVL’s interest in the Mongolian block comes at a time when coal and other resource sectors are seeing a wave of multibillion dollar mergers and acquisitions activity globally, much of it driven by increasing consumption in emerging economic giants China and India.

The Business of Mining - thebusinessofmining.com | January 11, 2011 - 12:01 pm

Vallar eyes acquisitions to follow Asian deal

“Vallar, the London-listed cash shell founded by financier Nat Rothschild, is looking at acquisitions of coal assets in North America and Australia worth up to $1bn (£646m) as it seeks to bolster its aspirations to join the FTSE 100. Vallar is set to be transformed this month under a complex deal that will see it […]

The Business of Mining - thebusinessofmining.com | January 5, 2011 - 11:35 am

ArcelorMittal sweetens offer for Baffinland

“ArcelorMittal has again sweetened its friendly offer for Baffinland Iron Mines in an escalating battle for control of one of the world’s biggest undeveloped iron ore deposits in Canada’s high Arctic. The Luxembourg-based steelmaker said on Friday that it was offering C$1.40 for each Baffinland share, valuing the company at C$551m. Gaining control of the […]

The Business of Mining - thebusinessofmining.com | January 4, 2011 - 11:33 am

Riversdale: Scramble in Africa

“Rio Tinto, one of the world’s biggest mining companies, has certainly seen something it fancies in Riversdale, an Australia-based firm that operates mines in Mozambique which produce both coking and thermal coal. Two days before Christmas Rio bumped up its offer for the firm to $3.9 billion. The bid says much about Rio’s ambitions and […]

The Business of Mining - thebusinessofmining.com | January 3, 2011 - 11:32 am

Mining companies fail to use YouTube

YouTube has over 2 billion views per day. It is the world’s second largest search engine. It hosts more video material than has ever been broadcasted on television. Consumer goods companies use YouTube to scan for trends, market their goods and interact with potential customers. Still, mining companies fail to use YouTube.

The Business of Mining - thebusinessofmining.com | December 22, 2010 - 9:48 am

Technological Risk in Mining: Biotech replacing Potash?

“Researchers conducting tests in the harsh environment of Mono Lake in California have discovered the first known microorganism on Earth able to thrive and reproduce using the toxic chemical arsenic. The microorganism substitutes arsenic for phosphorus in its cell components.”

The Business of Mining - thebusinessofmining.com | December 3, 2010 - 1:46 pm

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NWR’s $1.2bn Polish coal bid lapses

“A $1.2bn hostile bid by New World Resources for Poland’s profitable Bogdanka coal mine has lapsed after failing to attract enough interest from the pension funds that are its main shareholders.” Source: Financial Times, November 30 2010

The Business of Mining - thebusinessofmining.com | November 30, 2010 - 2:08 pm

Rio Tinto unveals investment plans

“Tom Albanese, chief executive, Rio Tinto said: ‘We believe the first and best use of our strong cashflows and robust balance sheet is to invest in the excellent range of value-adding growth projects across Rio Tinto’s product portfolio.

The Business of Mining - thebusinessofmining.com | November 29, 2010 - 10:18 am

China drives metal prices

“China remains the biggest driver of base-metals demand and, hence, prices. Fiscal tightening later in the year will dampen demand for resources, putting a ceiling on prices. At the same time tight credit for Western producers will hamper their ability to expand capacity, limiting supply and supporting prices.”

The Business of Mining - thebusinessofmining.com | November 25, 2010 - 12:17 pm

Glencore’s profit and IPO

“Swiss commodities company Glencore International AG Thursday said its third-quarter net profit rose 45% from a quarter earlier on higher metal prices and a particularly strong performance in its agricultural division.

The Business of Mining - thebusinessofmining.com | November 24, 2010 - 9:04 am

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