Mining News

A company is scrapping plans to build a plant in Michigan's Upper Peninsula to supply raw materials for a type of mill that makes steel.

BHP Billiton Ltd. Wednesday said its financial first-half profit fell 5.5%, the first dip in two years for the world's biggest mining company as it was hit by rising costs, production disruptions and falling commodity prices.The Anglo-Australian company maintained its long-held view that demand for its products will remain robust, but said pr...

Rio Tinto PLC said Wednesday a further US$3.4 billion will be spent expanding its iron ore operations in Western Australia's Pilbara region.Rio Tinto in a statement said US$2.2 billion will be invested in extending the life of its Nammuldi mine, and US$1.2 billion spent on early work needed to expand the capacity of Cape Lambert port and the ...

The Ontario Securities Commission has launched an insider trading probe involving a former employee of venerable Canadian investment bank GMP Securities.

Analysts had been expecting the Anglo-Australian company to achieve a net profit of about $10 billion for the six months to Dec.

Glencore International Plc's agreed takeover of Xstrata Plc, making it the world's biggest thermal coal exporter, poses a new threat to Japanese utilities forced to buy more of the fuel after the Fukushima nuclear disaster.

U.S. stock futures edged lower Tuesday morning as talks dragged on in Greece on terms of a second bailout to prevent a bankruptcy.

Mining company Xstrata and commodities dealer Glencore agreed to a $90 billion merger Tuesday that will create the world's fourth largest natural resources company.

The biggest ever merger deal in the mining sector has been confirmed today with commodities trader Glencore all-share takeover of mining group Xstrata worth $90 billion.

The Glencore logo is seen on a sign in front of Swiss commodities trader Glencore building in Baar near Zurich.

For all the acquisitions being struck in the mining industry, no company in North America is a cheaper takeover candidate than Cliffs Natural Resources Inc.

Australian securities exchange Tuesday that it has signed an agreement with Xstrata PLC to begin exploration activities on the Mount Frosty copper project in the far northwest of Queensland, Australia.Copyright © 2012 ... Read the full story at Fox Business Ricky Martin to be teacher in TV series Ricky Martin, who is in New York these days ... (more)

CAPE TOWN A potential tie-up between commodities titan Glencore International PLC and Anglo-Swiss miner Xstrata PLC is unlikely to spur a mergers and acquisition frenzy among the large diversified miners, but it could increase interest in mid-tier miners, said the global head for Standard Bank's mining and metals division... ... Read the full story ... (more)

Glencore International Plc debt investors are betting that an $88 billion merger with miner Xstrata Plc would lead to lower borrowing costs.

Consol Energy Inc. plans to expand longwall mining at its Bailey Mine in southwestern Pennsylvania, one of the two highest producing underground coal mines in the nation.

RANDGOLD RESOURCES LIMITED Incorporated in Jersey, Channel Islands Reg. No. 62686 LSE Trading Symbol: RRS Nasdaq Trading Symbol: GOLD RANDGOLD RESOURCES POSTS RECORD PROFIT WHILE ADVANCING TO NEXT GROWTH STAGE London, 6 February 2012 - Powered by increased production at all its operating complexes, Randgold Resources' profit soared by 259% to ... (more)

CAPE TOWN Harmony Gold Mining Co. said its second-quarter net profit surged in the second quarter on higher production and a strong gold price, but warned the remainder of the year will be capital intensive as it ramps up its gold project in Papua New Guinea.The Johannesburg-based company said net profit rose to 1.046 billion rand ... ... Read the ... (more)

Asian stocks rose, with a regional benchmark index set to extend its longest streak of weekly advances since 2010, after U.S. unemployment unexpectedly fell, boosting the earnings outlook for Asian exporters.

The proposed merger of Glencore International AG and Xstrata PLC would create a true rival to global mining heavyweights like Vale SA, Rio Tinto and BHP Billiton, as well as put pressure on midsize players to either team up or grow through acquisitions.

Eurasian Minerals is a company that first caught my attention at the San Francisco Hard Assets Conference this past November.