The main issue assumes that the iron ore miners and OPEC are in effective control of the markets in which they operate, or at least exercise a large degree of influence over them. There are probably members of OPEC that wish their market was more like iron ore, and vice versa. Unlike OPEC, the iron ore miners don't have a producers' group and would struggle against...» Read More
BHP Billiton on Monday mapped out its plan for acquiring rival Rio Tinto , promising to hand shareholders $30 billion via a share buyback if the deal goes through, in the hope of drawing Rio's board into talks.
BHP Billiton, the world's biggest mining group, is considering the sale of one of its largest units, BHP Petroleum, to help finance a hostile takeover of Rio Tinto, the UK Sunday Times newspaper said.
Investors seem sure that mining giant BHP Billiton will continue its $149 billion pursuit of Rio Tinto, a combination that would control more than one-third of the world's iron ore sales.
BHP Billiton has made a long-awaited bid approach to Rio Tinto in a move aimed at creating a $350 billion-plus mining giant, but Rio rejected the all-share proposal as too low.
3M, whose products range from Scotch tape to optical films for liquid crystal displays, on Friday posted a 7.4 percent increase in quarterly profit, helped by strong demand in international markets.
Europe's major stock indexes closed higher Wednesday, following a mixed morning, as a strong set of earnings from the likes of Coca-Cola and JPMorgan boosted investor confidence.
Rio Tinto said on Wednesday it had failed to arrest a decline in the United States and Australia in mined copper output, which fell 6 percent in the third quarter because of lower metal content in its ore, driving its Australian share price down.
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India-focused miner Vedanta Resources posted record production of most metals during the second quarter as new operations came on stream.
More than 2,000 trapped gold miners in South Africa were rescued in a dramatic all-night operation, and efforts gathered speed Thursday to bring hundreds more to the surface.
Global mining giant BHP Billiton on Wednesday upgraded the size of its total ore resource at the giant Australian Olympic Dam uranium, copper and gold mine by 75% to 7.7 billion tons.
Irish building materials firm CRH is in talks with Cemex to buy U.S. and European assets worth up to $4.5 billion from the Mexican cement maker, the companies said on Monday.
Weyerhaeuser, one of the world's largest paper and lumber companies, said Monday that it would probably have to close plants and restrict operations because of weak market conditions.
China will produce half the world's aluminium by the end of the next decade and will be largely self sufficient in the metal through 2010, a top executive at producer Alcan said on Friday.
Barrick Gold's prospects are stronger if it remains on its own, and the world's biggest gold miner has no interest in acquiring U.S. rival Newmont Mining, said Barrick Chief Executive Officer Greg Wilkins.
Energy stocks are still a solid investment for the long haul, say market strategists, though rampant speculation and big price swings could make it a bumpy ride for investors.
Courts in Paris and Rotterdam ruled on Monday against injunctions lodged by Arcelor minority shareholders aimed at blocking a shareholder meeting needed to finalise the firm's merger with Mittal Steel.
U.S. Steel is to acquire Stelco for about $1.1 billion to strengthen its position as a supplier of flat-rolled steel products in North America, the companies said.
Rio Tinto, the world's third largest miner by revenues, said Monday it has won U.S. antitrust approval for its $38.1 billion (28 billion euros) takeover of Alcan.
Swiss-Swedish engineering company ABB said on Monday it had agreed to sell its Lummus Global business to Chicago Bridge & Iron Company (CB&I) for an enterprise value of $950 million.