Paulson & Co., BlackRock Inc. and UBS AG are leading a hiring spree of London-based mining analysts as banks, brokers and hedge funds compete to bolster research teams in an industry valued at more than $350 billion in the U.K.
BHP Billiton Ltd., the world’s largest mining company, said fourth-quarter iron ore output rose 14 percent, driving an 11th straight annual production record as Chinese demand pushes prices to all-time highs.
Glencore International Plc received enough demand from investors for its $11 billion initial public offering to sell the shares more than twice over, according to three people with knowledge of the matter.
BHP Billiton Ltd., bidding $40 billion for Potash Corp. of Saskatchewan Inc. , would need to plan higher production rates of the crop nutrient to justify raising its $130-a-share offer, Sanford C. Bernstein & Co. said.
Glencore International Plc, seeking as much as $11 billion in an initial public offering, will price the sale at or above the midpoint of its earlier announced range, according to three people with knowledge of the sale.
Copper and aluminum pared their biggest quarterly declines since 2008 in London as the dollar weakened against the euro for the first time in three days amid concerns over the strength of the global economy.
Xstrata Plc , the biggest exporter of coal for power stations, is more likely to revive a takeover bid for Lonmin Plc after the platinum producer’s shares declined 30 percent from an April peak, according to Sanford C. Bernstein.
Glencore International Plc, the commodities company that sold $10 billion of stock in the world’s biggest initial share sale this year, ended its first trading day in London at the same price offered to investors.