Mining equipment maker Joy Global, Inc. (JOYG: News ) is close to acquiring Chinese coal-mining equipment maker International Mining Machinery Ltd. (ICMHF.PK), according to Bloomberg on Wednesday.
A shortage of large haul truck tyres is coming soon. Prices on the spot market have already topped $90,000 in some parts of the world, according to one recent article.
On only the second day of trading in Western Potash Corp. common shares on the main board in Toronto, investors were already abandoning the stock in droves. The junior player in Saskatchewan’s potash industry ended Wednesday down 5.5% after an analyst downgraded the stock.
Western Potash is in the pre-feasability stage of its Milestone Project in the south of the province where it hopes to mine almost a billion tonnes of potash using steam.
Strikes are looming in South Africa's gold and platinum sectors which could threaten global supplies at a time when commodity prices are red hot. South Africa's powerful National Union of Mineworkers (NUM) said on Wednesday wage talks with the country's main gold miners were deadlocked and it was preparing for a strike.
The prospect of mining the ocean floor may seem far-fetched, but China, motivated by its insatiable hunger for resources, has opened its eyes to the idea. According to a story in The Japan Times, China will attempt to plunge the Jialong - the world's deepest-diving manned submersible - 5,000 metres below the surface of the Pacific Ocean between Hawaii and North America, exceeding the craft's previous depth of 3,759 metres.
Gov. Pat Quinn has signed legislation that could lead to the construction of a new "clean coal" plant in Chicago that converts coal to natural gas.
Quinn signed the bill Wednesday at the site of a former steel mill on Chicago's southeast side.
Image of Gov. Pat Quinn is from Wikipedia
