DAR ES SALAAM, May 4- Nigeria's Dangote Cement said it will begin production in Tanzania in August, as sub-Saharan Africa's leading cement producer eyes new markets on the continent. A $500 million factory it is building in southern Tanzania, with an annual capacity of 3 million tonnes, will double the country's annual output of cement to 6 million tonnes.» Read More
Dual-listed mining giant BHP Billiton is talking to sub-underwriting banks on a record $55 billion loan backing its hostile bid for rival Rio Tinto, banking sources said.
Miner Xstrata posted a 13 percent rise in annual net profit on Monday on strong output, but gave little detail about ongoing talks regarding a possible takeover by Brazil's Vale.
European stocks closed lower across the board Monday, despite recovering form earlier lows, with banks suffering the worst of the selling on continued concerns over the state of the U.S. economy.
European stocks ended lower across the board Friday after data showed manufacturing in the U.S. Midwest fell to the lowest level in over six years, worsening the outlook for the world's biggest economy.
A dispute over marketing rights held by mining group Xstrata's biggest shareholder is threatening a possible takeover by Brazil's Vale worth around $90 billion, a source close to the situation said on Thursday.
Brazilian miner Vale has raised its bid for rival Xstrata by 17 percent to more than $89 billion, and a formal offer is expected in the coming days, a source with direct knowledge of the merger talks said Thursday.
European stocks ended firmly lower Wednesday as the outlook for banks remained gloomy in the wake of writedowns from Alliance & Leicester and BNP Paribas.
German industrial group ThyssenKrupp on Wednesday posted a first-quarter pretax profit drop in line with its preliminary guidance but investors punished the company for confusion over its results.
Arcelor Mittal's profit came in at the top of analysts’ expectations Wednesday but its shares fell on profit taking, despite bullish comments from Aditya Mittal, president and CFO of the world’s largest steel maker.
European stocks ended mixed Wednesday, despite surprisingly good news from the U.S. retail sector, which pulled the major indexes higher in the afternoon session.
Rio Tinto will continue to benefit from high Chinese demand for resources thie year, while BHP Billiton's bid is 'a long way away' from valuing the company fairly, Rio's CEO told CNBC.
Miner Xstrata has rejected a cash-and-shares takeover approach from Brazil's Vale pitched at just under 40 pounds a share, or 39 billion pounds ($76 billion), the Financial Times said.
European stocks closed sharply higher Tuesday, after U.S. billionaire investor Warren Buffett inspired a late rally by offering to take on $800 billion worth of debt insured by top bond insurers.
European stocks ended lower across the board Monday, with banking and insurance stocks suffering the worst of the selling. Warnings of further financial turmoil from G7 finance ministers at the weekend contributed to the session’s bearish sentiment.
The chairman of mining company Rio Tinto wrote to shareholders on Sunday, urging them to take no action on a bid for the company by rival miner BHP Billiton.
Weyerhaeuser posted a fourth-quarter loss Friday as its wood products business was hurt by the slump in the U.S. housing market, though adjusted earnings still beat Wall Street expectations.
European shares managed to end a volatile session in positive territory Wednesday, having followed U.S. stocks higher and gained from bullish utilities and telecom stocks.
Aluminum Corp of China will explain to Australian political leaders on Tuesday why it bought a 9 percent stake in Rio Tinto, in a move seen as an attempt to ease concerns may try to take over one of Australia's biggest companies.
Aluminum Corp of China (Chinalco) said on Monday it was content with the $14 billion stake it bought last week in miner Rio Tinto, dousing talk it was planning a rival bid to BHP Billiton's offer for Rio.
European stocks ended firmly higher across the board Friday, despite weaker-than-expected U.S. economic data, as China and U.S. aluminum producer Alcoa teamed up to buy a $14 billion stake in Rio Tinto.
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