The Timken Company announced that metals and mining company, Companhia Vale do Rio Doce (Vale), awarded Timken with a contract for 600 Timken® AP-2™ rail-car bearings. The bearings are for Vale’s Class K freight cars, which are used to transport iron ore from Vale’s mine sites across South America for export into China.
Designed to reduce [...]
Brazil’s government is considering ending a state monopoly on uranium mining, Dilma Rousseff, the chief of staff of President Luiz Inacio Lula da Silva is quoted as saying in the O Globo newspaper Thursday.
Private companies have already shown interest to explore Brazilian uranium deposits, among the mining giant Cia. Vale do Rio Doce (RIO), or [...]
The outcome of annual iron ore contract price negotiations between Australian suppliers and Chinese buyers must be decided by market forces, Australian Trade Minister Simon Crean said Saturday.
China wanted the status of a market economy, which Australia previously formally recognized during trade negotiations, so it must recognize that the market will determine prices, he said.
“No [...]
Shares of U.S.-traded mining companies based in Latin America fell on Friday as gold prices retreated and the dollar gained value against some currencies.
Gold for June delivery fell $27.70 to settle at $915.20 an ounce on the New York Mercantile Exchange after earlier plunging to a two-week low of $907.30.
Meanwhile, the dollar moved higher against [...]
The world’s third largest miner Rio Tinto Wednesday said iron ore sales were at a record level in the first quarter despite lower production from Western Australia.
The miner also said aluminium output had reached an all-time high in the three months to March 2008, reflecting the first full quarter contribution from Canada’s Alcan Inc which [...]
Against a backdrop of rising iron ore prices, Brazilian steel producers should maintain high profit margins relative to their global peers during 2008, according to Fitch Ratings. Brazilian steel companies enjoy important competitive advantages, including modern production facilities, close proximity to sources of iron ore and a highly concentrated domestic market, which limits competition based [...]
Cia. Vale do Rio Doce, the world’s biggest iron-ore producer, plans to expand output of pellets in Malaysia and China to meet rising demand.
Capacity at a joint-venture plant at Zhuhai in China’s Guangdong province may increase by two million tonnes a year, Jose Carlos Martins, head of Vale’s iron-ore business, said yesterday at a [...]
BHP Billiton Ltd, the world’s biggest mining company, said a fire burned for over an hour today at a screening area in the Nelson Point iron ore port in Western Australia.
It is assessing the damage from the fire, Samantha Evans, a BHP spokeswoman, said by telephone from Melbourne. There were no injuries and workers weren’t [...]
Cia. Vale do Rio Doce plans to build a terminal at Beira port in Mozambique to export coal from its planned Moatize mine.
The terminal will be able to handle 12 million metric tons a year and will have a storage capacity of 600,000 tons, Cezar Medina of Rio Doce Mozambique said at the Coaltrans conference [...]
China’s key steel industry association July 18 accused the world’s three leading iron ore producers of cutting back on supply to ensure strong prices ahead of next year’s negotiations. Brazil’s Companhia Vale do Rio Doce, Australia’s BHP Billiton and Rio Tinto are “working together” to strengthen their negotiating positions in talks with Chinese steelmakers, the [...]
