By Franz Wild, Michael J. Kavanagh & Jonathan Ferziger – Dec 6, 2012 (Bloomberg Markets Magazine) Israeli billionaire Dan Gertler visits Kamoto Copper Company (KCC) mines at Kolwezi in Katanga, DR Congo, in August 1, 2012. Dan Gertler’s bearded face lights up as he looks out the helicopter window. Below, an installation twice the size of Monaco rises from a clearing in the central African forest, where it transforms ore mined from the ochre earth into sheets of copper.
Catégorie : News
TOP 10 MINERS: A tough year, for CEOs and for stock prices
JOHANNESBURG (Mineweb) – For listed mining companies everywhere, this year has been all about stock prices facing headwinds, along with relentless pressure on CEOs. The benchmark stock, BHP Billiton, the world’s biggest diversified resources group, saw its stock price in US dollar terms peak out in the latter stages of 2010. Given the wobbles in the global economy, the fall from there has been relatively modest, from around US$26.00 a share to recent trades around US$19.00. Vale, the world’s No 2 miner by market value, has seen its stock price…
World economy in deep trouble
Washington – (Reuters, Pedro Nicolaci da Costa) The global economy is on edge – and that’s without the US « fiscal cliff. » Among rich nations, the US outlook remains the least troublesome. But given a recession in the eurozone and a recent contraction in Japan, that’s not saying a lot.
Rio Tinto to axe $7bn in costs; sell more assets
Like its peers, Rio Tinto has been cutting costs, reviewing other projects and closing coal mines in Australia due to depressed commodity prices, high costs and the strong Australian dollar. MELBOURNE/SYDNEY, 29 Nov 2012 (Reuters) – Rio Tinto aims to axe $7 billion in costs over the next two years and sell more assets to cushion against weaker commodity prices, while at the same time beefing up output in its lucrative iron ore business.
Retiring US lawmaker Frank seeks SEC-CFTC merger
WASHINGTON (Reuters) – On Thursday, 30 Nov 2012 Barney Frank and fellow Massachusetts Democrat Michael Capuano introduced a bill that seeks to combine the SEC and CFTC.
TFM and miners need more electricity, Gecamines Plans 500 Megawatt Coal-Fired Plant
Lubumbashi (Bloomberg) – Gécamines, Democratic Republic of Congo’s state-owned copper miner, will build a 500-megawatt coal-fired plant to help mining companies address electricity shortages,
Congo Graft Bigger Threat to Gold Miners than Rebels, Group Says
By Michael J. Kavanagh (Bloomberg) – Corrupt government and security officials in eastern Democratic Republic of Congo pose a greater threat to the country’s poor, small-scale gold miners than rebel groups, an advocacy group said.
Glencore et Xstrata enjoints par Bruxelles à réduire leur domination sur le zinc
Nouvel obstacle à la fusion entre Glencore et Xstrata, les deux géants du négoce et de la mine : la Commission européenne estime que les deux groupes fusionnés auraient une position dominante inacceptable dans le secteur du zinc.
Kasaï-Oriental : la Miba résilie son contrat avec la société Hydroforce Congo
La société Minière de Bakwanga (Miba), dans le Kasaï-Oriental, a résilié son contrat avec l’entreprise Hydroforce Congo, chargée de commercialiser l’énergie électrique produite par la centrale hydro électrique de Tshala.