Jun
17
Yesterday’s Top Story: Rio Tinto allocates $469mn to build first new U.S. primary nickel mine..
June 17, 2010 | 2 Comments
RENO- After several years of protests, litigation and delays attributed to the global economic downturn, the U.S. is about to get its first new primary nickel mine in years in the historic mining region of the Upper Peninsula of Michigan. Rio Tinto announced Tuesday it will invest $469 million in the development of the Kennecott [...]
Jun
10
Amcor gets US nod for Alcan acquisition..
June 10, 2010 | 1 Comment
Paper maker and packager Amcor has received approval from the United States Department of Justice to acquire Alcan’s Medical Flexibles operations from miner Rio Tinto. The Medical Flexibles operations are part of the $2.22 billion acquisition of the Alcan packaging unit from Rio Tinto, which Amcor completed in February. The deal saw Amcor secure Rio’s [...]
Jun
2
The Australian today ran a big photo with its lead business story of former Rio Tinto CEO Leigh Clifford sitting next to BHP-Billiton CEO Marius Kloppers at a mining industry function in Canberra last night. Clifford was laughing away and the lads could well have been amused to have together amassed a net worth exceeding [...]
May
21
BHP wants levy on minerals instead of profits..
May 21, 2010 | Leave a Comment
The nation’s biggest miner has urged the federal government to scrap its proposed tax on resource super profits and replace it with a levy on mineral value.The government has also been lobbied by state governments and an eminent economist who advocates changes to the tax. In a statement, BHP Billiton has advocated for tax to [...]
May
21
BHP wants levy on minerals not profits.
May 21, 2010 | Leave a Comment
The nation’s biggest miner has urged the federal government to scrap its proposed tax on resource super profits and replace it with a levy on mineral value. BHP Billiton’s vice president of government relations, Bernie Delaney, and his cohorts spent more than two hours with Treasury officials in Canberra on Friday. BHP Billiton says the [...]
Mar
29
Mining titan BHP in landmark iron ore pricing move.
March 29, 2010 | Leave a Comment
Global mining giant BHP Billiton Tuesday said it would now sell iron ore to most Asian steel mills on a short-term basis, scrapping an annual pricing model that provoked acute tensions with China. Skip related content Related photos / videos A construction worker prepares steel reinforcing rods at a building site in Shanghai Enlarge photo [...]
Mar
29
BHP confirms move to short term ore sales contracts..
March 29, 2010 | Leave a Comment
Mining giant BHP Billiton says it has reached agreement to sell most of its iron ore on shorter term contracts. “BHP Billiton today announced that it had reached agreement with a significant number of customers throughout Asia to move existing iron ore contracts that were previously priced annually onto a shorter term landed price equivalent [...]
Mar
4
Rio Tinto gets permit for Indonesia nickel project..
March 4, 2010 | Leave a Comment
JAKARTA – Indonesia has given the local unit of Rio Tinto a mining permit for a nickel project in Sulawesi worth $2-billion, the company said on Tuesday. The long-awaited permit is the first to be issued under a new Indonesian mining law passed in 2008 and could help increase certainty and lift flagging investment in [...]
Feb
24
Atlas Copco and Rio Tinto to Explore Advanced Tunneling Equipment for Deep Underground Mines..
February 24, 2010 | 1 Comment
Atlas Copco (STO: ATCOA)(STO: ATCOB) has been selected by Rio Tinto to develop one of two rapid tunneling concepts for underground block cave projects. The new machine will enable fast and cost-effective construction of mines which are safe, productive and have a minimal impact on the environment. Rio Tinto’s development of projects such as Resolution [...]
Feb
22
Amcor (AMC – $6.14) has reached the bottom, says Ken MacKenzie..
February 22, 2010 | Leave a Comment
A MERE 23 days into Amcor’s stewardship of its $US1.94 billion ($2.13b) Alcan Packaging purchase, CEO Ken MacKenzie is supremely confident the group snared one of those killer deals that come up once in a decade (or a lifetime, in the case of Kerry Packer). “The opportunity to purchase Alcan Packaging could not have come [...]