Rio Tinto News
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Diamond prices will rise an average 6 percent a year through 2020 as tight supply is unable to meet growing demand in China and India, BMO Capital Markets said.
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Zimbabwe may fall short of its gold production target this year as prices for the precious metal decline and energy shortages strain operations, the Chamber of Mines of Zimbabwe, an industry group, said.
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WorleyParsons Ltd., Australia’s largest oil and gas engineering company, plunged the most in four and a half years after cutting its earnings forecast following lower resource spending in Australia and Canada.
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New World Resources Plc, the largest producer of steelmaking coal in the Czech Republic, jumped the most in 11 months in Prague trading after announcing plans to rein in expenses.
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Iron ore slumped into a bear market on concern that slowing economic growth in China, the world’s biggest buyer of the steel-making raw material, will hurt the outlook for demand as global supplies increase.
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New Zealand will offer as much as 49 percent of state-owned power company Meridian Energy Ltd. in an initial public offering in the second half of this year, Finance Minister Bill English said in today’s budget.
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Mosaic Co., the second-largest North American producer of potash, said it sees itself remaining an independent company once it resolves the ownership of about $8 billion of stock previously held by Cargill Inc.
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Iron ore slumped into a bear market on concern that slowing economic growth in China, the world’s biggest buyer, will reduce demand as global supplies increase.
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Graham Soko, a shopkeeper whose business straddles the railway line south of Lusaka station in Zambia’s capital, says he’s hoping to reap profits from the government’s plans to rejuvenate the dilapidated railway system.
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U.K. stocks climbed, extending their highest level in 5 1/2 years, as merger and acquisition activity in the utility industry offset a selloff by metal producers.
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