Diversified miner BHP Billiton (NYSE:RIO) today became the third iron giant to join the new China Beijing Metals Exchange (CBMX), only a few days after competitors Vale (NYSE:VALE) and Rio Tinto (NYSE:RIO) did the same.
In another attempt to reduce its dependence on China's strangehold on rare earth element supply, Honda announced that its dealers will start to recycle old cars to extract the rare earth metals from the nickel-metal hydride batteries.
Anton Berlin, head of marketing for Norilsk, says if prices rise above $20,000 a tonne on the back of Indonesia’s proposed ban on the export of ore, many idled mines can re-open.
Copper prices will continue dipping but only until the middle of this year, at which point they should start rising again, according to the latest Thomson Reuters’ GFMS Copper Survey and members of the industry.
The mining boom that Colombia is experiencing has driven a group of Australian firms to visit the South American country and explore what the country has to offer in terms of mining for foreign investors.