Bloomberg.com reports that BHP Billion( NYSE:BHP) claims that it is baffled by regulators’ claims that blocked an earlier joint venture proposal between BHP and Rio Tinto (NYSE:RIO). The story is quoted as saying: Clearly we’ve had back a lot of messages, we’ve had back a series of complaints by not only one regulatory authority but a [...]
Iron ore prices held steady on Monday, with the benchmark index holding close to a five month high. In the near term, prices may gain extra momentum due to China’s nationwide power rationing policy.
BHP Billiton ( NYSE:BHP) and Rio Tinto (NYSE:RIO) scrapped their proposed $116 billion iron-ore joint venture as expected, caving in to opposition from regulators, steelmakers and major investors 16 months after unveiling the plan. The collapse of the deal marks top global miner BHP’s second failed attempt to grab a piece of Rio Tinto’s superior iron [...]
By Kishori Krishnan Exclusive To Iron Investing News Iron clad deals are in play. Chinese steel and iron ore group Baosteel has proposed to pay US$ 1.6 billion for a 30 per cent stake in Anglo American‘s (AAL.L) huge Minas Rio iron ore mine in Brazil. Traders maintain that any deal with Baosteel could help [...]
A top BHP Billiton executive has admitted the mining giant’s safety record was “abysmal” in 2008/09, when five separate and unrelated fatal accidents occurred at its West Australian iron ore mines. For full story, click here
BHP Billiton declared the terms it has agreed with a range of iron ore customers for the 2009 contract year. These terms vary and reflect the specific needs and requirements of each customer, consistent with our marketing approach. For full story, click here
An annual iron ore pricing deal between Asian steelmills and Australia’s BHP Billiton is unlikely to be settled soon because of issues of carry-over amounts from pricey 2008 contracts. For full story, click here
Samarco, a joint venture between miners BHP Billiton BHP.L and Vale declared that it has cut iron pellets prices by 48.3 percent from last year’s price for Indonesia’s Krakatau Steel. For full story, click here
Japan’s Nippon Steel and have agreed with BHP Billiton to cut fine iron ore prices by 33 percent, matching a benchmark deal reached with Rio Tinto. For full story, click here
Global miners Rio Tinto and BHP Billiton are to combine their Australian iron ore operations, six months after BHP dipped a hostile takeover bid for Rio Tinto. John Sevior, head of Australian equities for Perpetual Investments, stated: I think it’s a very clever deal. For full story, click here
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