Glencore Xstrata Plc, the fourth- largest mining company, revived its interest in bidding for the Canadian iron-ore operations that Rio Tinto Group is seeking to sell, according to two people familiar with situation.
Vale SA’s perceived creditworthiness versus its competitors is sinking to the lowest since the financial crisis as swaps traders treat the mining company’s debt as junk on Brazil’s deteriorating finances.
About $8 trillion of known coal reserves lie beneath the earth’s surface. The companies planning to mine and burn them are being targeted by a growing group of investors concerned with the greenhouse gases that will be made.
Coal India Ltd., the world’s biggest producer of the fuel, will raise output of the metallurgical variety to boost earnings after discounted sales to power utilities led to its first profit drop in at least five quarters.
Vale SA, the largest iron-ore producer, saw profit rise for the first time in more than two years in the third-quarter, beating analysts’ estimates, as Chinese demand for the steelmaking material pushed up prices.
Pakistan plans to shortlist as many as 15 state-run companies for stake sales as Prime Minister Nawaz Sharif seeks to trim losses and raise cash to meet terms of a $6.6 billion loan from the International Monetary Fund.