Dalian iron ore rebounds; Tangshan move stokes demand worries

MILWAUKEE--(BUSINESS WIRE)-- Joy Global Inc. (NYSE:JOY) ("Joy Global") a worldwide leader in high productivity mining solutions today announced that it has received approval from the Anti-monopoly Bureau of the Ministry of Commerce of the People's Republic of China for its planned purchase of International Mining Machinery Holdings Limited (HKSE:1683) ("IMM"), a leading designer and manufacturer of underground mining equipment in China. These shares represent approximately 41.1% of the outstanding common stock of IMM.

According to a source close to the deal, Chinese-controlled Yancoal Australia has approached Gloucester Coal with a plan to merge their neighbouring coal assets in Australia.

If the uranium industry was hoping that China would be the tide that floats all boats, it will have to wait longer than expected.

China Development Bank (CDB), one of the country's three policy banks, has signed two agreements with Kazak copper giant Kazakhmys PLC, granting the mine and refinery operator 1.34 billion U.S. dollars and 1 billion yuan (158 million U.S. dollars) for a new project.

Global demand and prices for coal will continue to expand aggressively over the next five years despite public calls for reducing reliance on the high-carbon fuel as a primary energy source, said the International Energy Agency (IEA) in its first ever report about the commodity.

Chinese citizens continue to buy gold in record volumes with October the fourth successive record month for imports via Hong Kong

Australia's Extract Resources Ltd., owner of the world’s fourth-largest uranium deposit, advised shareholders to take no action regarding the $2.2 billion takeover bid from Chinese nuclear fuels supplier Guangdong Nuclear Power Corp (CGNPC).

China Knowledge reports the Middle Kingdom could experience an escalation in the demand for iron ore according to the Ministry of Industry and Information Technology.

Brazilian gold miner Jaguar (NYSE:JAG), which last month became the subject of takeover rumours, fell more than 10% on Wednesday, after the sudden resignation of its CEO and president Daniel Titcomb.