Mining giant BHP Billiton on Tuesday announced plans to demerge its aluminium, coal, manganese, nickel and silver assets into an independent metals and mining company. Mozal, Mozambique aluminium smelter, in which the multinational is main shareholder, will integrate the new company with assets in five countries and 24 000 employee. 512 more words
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(9 August 2014, AFR, p16, Mark Ludlow)
‘Two of Australia’s richest people – Gina Rinehart and Clive Palmer – and Indian billionaire Gautam Adani are massing troops in the battle for the Galilee. 101 more words
Brazilian miner Vale posted a sharp decline in profit from the previous quarter as lower iron-ore prices undermined record production of the steel-making ingredient.
Vale, the world’s largest producer of iron ore, reported second-quarter net income of $1.43-billion, down 43% on the previous quarter and below the average analyst estimate of $1.89-billion in a Reuters survey. 412 more words