A Guinean review into ownership of the biggest untapped iron-ore deposit has recommended seizing mining rights owned by a venture of BSG Resources Ltd., billionaire Beny Steinmetz’s company, and Brazil’s Vale SA.
At one of the world’s largest coal mines in the Indonesian province of South Kalimantan, enough of the fossil fuel is being stolen every three days to fill a vessel almost the size of the Chrysler Building, according to two people with knowledge of the situation.
Glencore Xstrata Plc, the world’s fourth-biggest mining company, is studying separate deals with Rio Tinto Group and BHP Billiton Ltd. in Australia to reap cost savings at struggling coal and nickel operations.
Glencore Xstrata Plc Chief Executive Officer Ivan Glasenberg said the world’s fourth-biggest mining company remains in talks with China Minmetals Corp. for an asset that’s been valued at more than $5 billion.
Glencore Xstrata Plc billionaire Chief Executive Officer Ivan Glasenberg reaped a $182 million dividend for last year after steering the commodity trader and metals producer through a 15-month takeover of Xstrata Plc.
Indonesia’s Bakrie family said it has all the funds needed to meet the original terms of a deal to exit the coal-mining venture it founded with Nathaniel Rothschild, a week after announcing it was $65 million short.
Indonesia’s Bakrie family are $65 million short of funding a planned exit from London-listed Asia Resource Minerals Plc and want to revise the terms a week after saying they intended to complete the deal as scheduled.
Rio Tinto Group, the world’s second- largest mining company, bolstered its dividend after reporting a 43 percent gain in second-half profit as prices for iron ore advanced and it beat a cost-cutting target.