Rio Tinto and Chinalco subsidiary Chalco signed a binding agreement to establish a joint venture (JV) covering the development and operation of the Simandou iron ore project in Guinea.
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Having been involved with the Oyu Tolgoi Copper-Gold project since 2005 Fluor Corporation now reached an agreement proceed for the Ivanhoe Mines project in Southern Mongolia.
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To get a feeling about economic conditions, it helps to take a look at the big players in the markets. As one of these Australias BHP Billiton, headquartered in Melbourne, reports the production and fiscal situation at the end of its fiscal year, end of June. Following, please find a draft of the most important figures.
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Posco, the world’s fourth largest steel maker, is investing heavily in iron ore and coal mines to widen its raw material base and secure stable supplies.
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Brussels, Belgium – The European Commission has fined a steel producer cartel EUR 518 million. The 17 producers of prestressing steel operated the cartel over 18 years until 2002. With EUR 276 million the largest fine was imposed on ArcelorMittal.
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At Hillhead 2010 leading international manufacturers presented their latest plant technology, equipment, and services for the extractive and construction industries. More companies than ever before exhibited when the doors opened to visitors on Tuesday 22 June.
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Wuerzburg & Nuremberg, Germany, and Mumbai, India – The Indian economy shows a distinct upward trend and the Indian subcontinent also ranks as one of the world’s most promising growth markets in the chemical industry. The BulkSolids India Conference and Exhibition is accordingly growing. The length of BulkSolids India 2011 has been increased from two to three days in order to reflect all the major sectors of the processing industry.
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Washington, USA – According to a press report by The New York Times, untapped mineral reserves discovered by the United States in Afghanistan have an estimated value of almost USD 1 trillion. The report quotes unnamed senior American government officials, who said that the reserves would be enough to fundamentally alter the economy of Afghanistan.
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Kassel, Germany – The K+S Group announced significant recovery in demand for fertilizers, a good overall de-icing salt business, and the inclusion of Morton Salt caused both revenues and earnings to rise significantly in the first quarter of 2010. Sales forecast in potash and magnesium products business segment raised to a approx. 6.5 million tonnes of product.
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Brisbane, Australia – The Queensland Coal Industry Rail Group (QCIRG) has delivered a full cash offer to the Queensland Government to buy Queensland Rail’s Central Queensland coal track network for AUD 4.85 billion (approx. USD 4.2 billion).
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