LONDON, Dec 10 (Reuters) – BHP Billiton, the world’s
largest miner and a top investor in U.S. onshore oil and gas,
said on Tuesday its U.S. shale business should generate cash
from 2016, contributing almost $3 billion a year to the group by
the end of the decade.
BHP, one of the largest producers outside the major
integrated oil companies, plans to spend around $4 billion a
year to expand its U.S. onshore oil and gas production.
LONDON, Dec 6 (Reuters) – Four months after branding Anglo
American’s performance “unacceptably poor”, Chief
Executive Mark Cutifani is to tell investors on Thursday how he
plans to improve the miner’s operations and hit ambitious 2016
Anglo, the smallest of the leading diversified miners, has
long lagged behind its peers. In the past two years alone it has
been hit by labour troubles in South Africa, operational hiccups
at key copper mines and multibillion-dollar cost overruns in
LONDON, Dec 5 (Reuters) – Brazilian miner Vale
plans to sell a 15 to 25 percent stake in its coal operations,
including projects and mines in Australia and Mozambique, and
has had interest from potential partners including coal buyers,
it said on Thursday.
Vale, the world’s largest producer of iron ore, has cut
spending plans for 2014, a third consecutive year of reduction.
It hopes the partnership in coal, along with the sale of a stake
in its Mozambican rail link and in fertiliser assets, can bring
funding, cut capital commitment and help mitigate risk.
LONDON, Dec 5 (Reuters) – From intelligent drills to
analysing gum tree leaves, an unprecedented push to develop new
methods and technologies promises to transform the way miners
explore for deposits, allowing them to dig deeper, faster and
The results could ultimately unlock so-called ‘covered’
deposits: riches hidden under hundreds of metres of soil, rock
or sea water, sometimes in or near previously explored areas.
PERTH/LONDON, Nov 28 (Reuters) – Miner Rio Tinto
has delayed the expansion of its iron ore operations in
Australia to 2017, slowing growth and cutting costs with a
revised plan which it says will save $3 billion by working
existing mines harder instead of digging new ones.
Rio, which makes the lion’s share of its profits from iron
ore, still plans to boost production, but more efficiently, at a
time when heavyweight rivals BHP Billiton and Vale
are doing the same.
LONDON/CONAKRY, Nov 21 (Reuters) – A bitter row with Israeli
billionaire Beny Steinmetz over an iron ore licence risks
complicating Guinea’s efforts to persuade deep-pocketed Gulf
investors to commit the cash needed to get the country’s economy
Guinea’s President Alpha Conde will woo investors at a
two-day conference in Abu Dhabi starting on Sunday, hoping to
build on a legislative election in September that marked the
return to democracy after a 2008 coup.
LONDON, Nov 21 (Reuters) – Catalyst maker Johnson Matthey
beat its own expectations with a 13-percent rise in
profit, lifted by increased car and truck production globally,
and tighter European rules on emissions due to come into force
The British speciality chemicals firm – the world’s No. 1
maker of catalysts to control car emissions – said underlying
first-half profit before tax totalled 212.9 million pounds
($344.3 million), at the higher end of analyst expectations and
outperforming the group’s own forecast, which had warned of the
impact of summer closures at European car plants.
LONDON, Nov 20 (Reuters) – Output from the world’s gold
mines is set to hit record highs this year, disappointing bulls
who are impatiently waiting for production cuts following this
year’s 24 percent plunge in prices.
Some gold miners have felt the squeeze of lower prices this
year, and a number, including Canada’s Kinross and
Russia’s Polymetal, suspended marginal mines and
projects after a dramatic first-half price drop.
HELSINKI/LONDON (Reuters) – Finnish miner Talvivaara (TLV1V.HE: Quote, Profile, Research) (TALV.L: Quote, Profile, Research), hurt by falling nickel prices and production problems, said it would seek a court-supervised overhaul after failing to raise funds and might face bankruptcy if the reorganisation failed.
Friday’s announcement, which sent Talvivaara shares down 43 percent to a record low, was made after the group failed to raise more cash from investors including Finnish state investment fund Solidium, which decided additional investment was not viable.
HELSINKI/LONDON, Nov 15 (Reuters) – Loss-making Finnish
miner Talvivaara , battered by falling nickel
prices and a slew of production problems, said it would file for
a court-supervised overhaul without which it risked bankruptcy.
Friday’s announcement, which sent Talvivaara shares down
more than 40 percent to a record low, came after the group
failed to raise more cash from investors including Finnish state
investment fund Solidium, which decided additional investment