Vale launches pilot plant for dry magnetic separation
Pilot plant will have the capacity to concentrate 30 tonnes per hour of dry ore, using magnetic separation technology, made by means of rare earth magnets.
Despite current adverse conditions, advisory firm Behre Dolbear is recommending mining stakeholders to focus on markets that have been able to ride the wave relatively well so far.
As prices for the company's four key "pillar" commodities —iron ore, metallurgical coal, copper and oil and gas — have all dropped to multi-year lows in the past 12 months.
The price for the two assets could rise to $500m from $200m, depending on an eventual recovery of copper prices and the execution of an expansion plan for the Mantoverde mine.
Mick Carew, a research analyst with Haywood Securities, hopes we have found the bottom of the commodity cycle but expects M&A activity to continue apace through the rest of this year and into 2016.
Appian Capital founder Michael Scherb: "You're now seeing the same changes in mining that happened in oil and gas which is now heavily supported by PE"
New York court must decide by September whether or not it accepts Vale and BSGR request to dismiss the lawsuit that claims they conspired to steal Rio's rights over the asset.