The West African state of Guinea recently approved a joint development deal between the government, Rio Tinto/Simfer, and the Winning Consortium Simandou (WCS) consortia to develop the Simandou iron ore mining project. The National Transition Council (NTC), Guinea’s legislative body under the interim regime, announced the deal’s approval on February 3. “In short, this agreement […]
Tag: Coal
Glencore’s $6.93 Billion Acquisition: Majority Stake in Teck Resources’ Steelmaking Coal Business
Multinational commodity trader and mining group Glencore recently announced the acquisition of a majority stake in Canadian mining group Teck Resources’ steelmaking coal business. On November 15, the London and Johannesburg-listed group announced they had previously paid $6.93 billion for a 77% stake in Elk Valley Resources (EVR). They added that the deal was based […]
Metal Manufacturing News: Glencore Proposes Merger with Canada’s Teck Resources
On April 3, multinational commodity trader and mining group Glencore announced its proposal for a merger with Canada’s Teck Resources. Estimates say the metal manufacturing merger could potentially create $4.25-5.25 billion of post-tax synergy value. However, Vancouver-headquartered Teck announced its rejection of the offer on the same day. “The board of directors of Teck has […]
This Morning in Metals: Steel demand to rise 4.5%, World Steel Association forecasts
This morning in metals news: the World Steel Association forecast steel demand to rise by 4.5% this year; U.S. import prices increased in September; and, lastly, the Energy Information Administration forecasts U.S. coal-fired electricity generation will increase this year for the first time since 2014. Are you under pressure to generate steel cost savings? Make […]
India follows China into a coal crisis
You do not have to look too hard to find failures of state-run economies around the world. Since the collapse of the Soviet Union, there is less enchantment with the model — outside China, anyway — than there once was. But what we remain plagued with is the idea government has a role in the […]
Energy crisis in China hits more than just metals output
Much is being made of Beijing’s efforts to meet its environmental emissions targets — the country states it will hit peak emissions before 2030 and carbon neutrality by 2060 — and its restricted steel and aluminium production. But a recent Reuters post by John Kemp suggests output is being impacted more by a widening electricity […]
Bangkok-based Banpu to buy Texas power plant
Continuing with its acquisition of the U.S. natural gas assets, the Bangkok-based Banpu has now agreed to purchase a combined cycle gas-fired power plant in Texas. According to Forbes , Banpu, controlled by billionaire Isara Vongkusolkit, will buy the power plant for U.S. $430 million. More MetalMiner is available on LinkedIn. Banpu looks to the […]
This Morning in Metals: Ford, Mahindra end joint venture talks
This morning in metals news: Ford Motor Co. and Mahindra announced the mutual decision to end joint venture talks; the Energy Information Administration released its quarterly coal report; and, finally, the zinc price has retraced. Become part of the MetalMiner LinkedIn group and stay connected to trends we’re watching and interesting metal facts. Ford, Mahindra […]
This Morning in Metals: U.S. imports of blooms, billets and slabs surge
This morning in metals news: the U.S. has seen rising imports of blooms, billets and slabs; the power sector’s coal consumption dropped significantly in the first half of this year; and copper prices trended sideways this week. Do you know the five best practices of sourcing metals, including steel? U.S. imports of blooms, billets and […]
This Morning in Metals: LME copper price makes midweek gains
This morning in metals news: the copper price inched upward Wednesday; U.S. coal-fired plants have been transitioning to natural gas; and Norilsk Nickel recently released its production results for the first half of the year.
