Venezuelan Catholic Church worried about mining devastation
"The church but the entire world is worried about the environmental degradation that unregulated mining activities are causing in the Bolívar and Amazonas states."
After adjusting for seasonality, the reading shows that the manufacturing sector is actually improving, thanks to the slew of stimulus measures implemented by the Chinese government.
A report indicating weak sentiment on the part of Australian mining companies would appear to substantiate warnings that Australia's flourishing resources sector is headed for a slowdown.
People should stop worrying about Chinese businesses buying up resource companies in Australia because the Chinese are no good at investing, says former Rio Tinto executive, Michael Komesaroff.
I'm not locating capital to India or China as I don't see things progressing there. We can't remain stuck, so we move on. Now our priority is to reduce debt, we sell non-core assets. But we continue to invest in mining and become self-dependent.
World number one iron ore producer Vale over the weekend "played down fears" that the planned $20 billion expansion of its Carajas mine would harm the local Awá people described as "Earth’s most threatened tribe."
"I believe the recovery will happen soon," José Carlos Martins, the Brazilian miner's director of iron ore and strategy, said during a conference call discussing the firm's second quarter results, adding that a modest recovery in China will boost prices.
Below $120 a tonne most Chinese producers become unprofitable, but a sustained period below this level may indicate a fundamental shift in the industry.