South Korean steel giant Pohang Iron and Steel Co Limited or POSCO has quickened its expansion in China and bet heavily on the populous market in recent years.
Two partners in the world's top aluminium producer, UC RUSAL , want to sell their stake to a third tycoon, Alisher Usmanov, owner of an iron ore miner and shareholder in Norilsk Nickel, Vedomosti reported on Friday.
SMH reported that BHP Billiton's base metals division has boldly declared its growth plan could as much as triple its copper base despite market sentiment that it is maturing and in grade decline.
Business News Americas reported that the union at BHP Billiton's Cerro Colorado copper mine in Chile on Friday voted to accept the company's pay offer to renew labor contracts for 41 months starting February 1st 2010.
Reuters reported that Japan's refined zinc exports for June halved from a year earlier to 4,707 tonnes as production remained disrupted by the massive earthquake in March.
Mr Dinsha Patel, Minister of State for Mines, informed the Lok Sabha that the government of Afghanistan has invited offers for commercial exploitation of Hajigak Iron Ore Deposit through the process of competitive bidding.
Indonesian Adisuryo Prasetio & Co Law Firm indicated that Indonesian government may ban the exports of low grade nickel products, according to a draft of the law released by the Indonesian government in a week ago.
Data from research firm Beiging Antaike Information Development Co showed that there are two stainless steel projects will soon bring another 5 million tonnes of crude stainless steel over the next few years.
Taiwan has imported 79,396 tonnes of stainless steel in July 2011, up by 6% MoM from June 2011. Also, the average import prices of stainless steel increased by TWD 1,524 per tonne from a month earlier to reach TWD 90,521 per tonne in July 2011.
Standard & Poor's has kept its BBB- long term corporate credit and ruAA+ Russia national scale ratings on Russian mining and metal group MMC Norilsk Nickel on CreditWatch with negative implications.
