Anglo American nickel output cut until 2016
Design problems at its largest nickel plant will see Anglo American unable to reach full output capacity for the next three years.
VALE
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$1-billion boost for Malawi’s railways
Malawi has signed a $1-billion deal with Brazil’s Vale for the construction of a rail line to transport 18-million tonnes of coal from Mozambique.
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Brazil businesses to invest $500-million in Mozambique
A group of Brazilian businesses on a visit to Mozambique have pledged to invest up to $500-million in the country.
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Things that go boom!
Lynley Donnelly investigates the reasons behind the quadrupling of the prices of commodities.
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BHP raises Rio bid; no immediate Chinese riposte
BHP Billiton launched a hostile ,4-billion bid for rival Rio Tinto in a move that could trigger a Chinese-led counterbid in the world’s second biggest corporate takeover. Combined, BHP and Rio would create the world’s third-richest company, with a market capitalisation eclipsed only by Exxon Mobil and General Electric.
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Chinese sniff around Xstrata but unlikely to bite
China’s state-backed miners have looked at Xstrata but are unlikely to bid for it, leaving Brazil’s Vale or Anglo-American best placed to snap up the Anglo-Swiss miner. Vale, which produces a fifth of the world’s iron ore, said on Monday that it was in talks with Xstrata about a takeover.
