EMED Mining (LON:EMED) climbed 14.88% today on news that the company has reached a $30 million funding arrangement with a new Chinese offtake partner respecting its Rio Tinto copper mine in Spain.
The $80 billion proposed merger of commodities trader Glencore and Swiss-based miner Xstrata could lead to a fresh round of acquisitions in iron ore, Reuters is reporting today.
Times of Zambia reports that the Zambian government is planning to increase its share of mining firms from 20% to 35% but is not planning a wholesale nationalization.
Vale SA is diverting iron ore shipments to the Philippines as a way of shipping its product to China, as the Asian economic powerhouse continues to resist super-sized vessels destined for Chinese ports.