Planetary Resources readies asteroid mining technology for Dec. launch

2011 will go down as the year when the wind fell out of the sails of economic recovery and serious storm clouds gathered on the horizon.

If 2010 was the year of rising commodity prices, 2011 was the year of The Deal.

Western Australia invited China to invest in a A$5.94 billion (US$6 billion) port and rail project that aims to open up a new iron ore province in the state's Mid West after Wednesday stripping a Mitsubishi Corp.-led venture of exclusive development rights.

The Atlantic profiles Christmas light recyclers, a job that moved to China when the environmental restrictions in the U.S. became too onerous.

Shares in the Thai steelmaker fell sharply on Wednesday after ArcelorMittal pulled out of a deal to buy a 40% stake in it.

Anglo American (LON:AAL) has increased the capital expenditure budget for its largest project in development, the Minas-Rio iron ore mine in Brazil, by 15%, the London-listed major miner announced on Tuesday. That takes the capex for the project up to US$5.78 billion.

Tenova, a worldwide supplier of advanced technologies and equipment for the iron & steel and mining industries, announces today the acquisition of Bateman Engineering N.V., a leading equipment supplier and engineering house for the mining industry. The transaction is subject to the approval of the antitrust authorities.

The Japanese steelmaker expects its crude steel production in the January-March to be flat or slightly down on than that of the October-December period.

Several industry sources say the miner is considering selling its majority stake in the Amapa iron ore operation in Brazil to focus on its flagship Minas-Rio growth project.