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News Breaks | | | | January 30, 2013 | | 06:13 EDT |  | GLNCY, AAUKY, BHP, RIO, XSRAY, VALE | Mining, steel firms face $50B in write downs for takeovers, Bloomberg reports
Major mining and steel companies worldwide have wiped about $50B off project valuations in the past year and that's expected to continue this earnings season as managers review expensive takeovers, reports Bloomberg Anglo American (AAUKY), Vale (VALE) and Rio Tinto (RIO) led the write downs. Glencore International (GLNCY) may write down some nickel and copper assets acquired through its takeover of Xstrata (XSRAY), Liberum Capital has said. BHP Billiton (BHP) may reduce aluminum operation valuations, according to Goldman Sachs Group and Sanford C. Bernstein. Reference Link | |
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News For AAUKY;VALE;RIO;GLNCY;XSRAY;BHP From The Last 14 Days Check below for free stories on AAUKY;VALE;RIO;GLNCY;XSRAY;BHP the last two weeks. |
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| June 18, 2013 | | 12:10 EDT | | RIO | China Minmetals may have interest in Rio's Canadian iron-ore assets, WSJ says
State controlled China Minmetals Corp said it may bid on Rio Tinto's iron ore operations in Canada, says the Wall Street Journal. The interest in those assets may be a sign that China hasn't lost its appetite for that type of assets despite an economic slowdown, added the Wall Street Journal. | | | 11:42 EDT | | RIO, VALE | Brazil mining bill may double royalty to 4%, Reuters says
Brazil presented a much anticipated bill to reform the country's 46-year-old mining code, says Reuters. The bill proposes new royalties of up to 4% and a new regulatory agency, added Reuters. Reference Link | | | June 17, 2013 | | 08:22 EDT | | BHP, RIO, GLNCY | Mining companies draw new regulator scrutiny, Bloomberg reports
Until now mining companies have been relatively free of political scrutiny. But world leaders, gathering in Northern Ireland for the Group of Eight summit beginning today, have mining transactions and companies in their cross hairs. They are proposing tighter oversight by requiring companies to disclose all payments made to foreign governments, reports Bloomberg.Reference Link | | | 07:13 EDT | | BHP, VALE, RIO | Vale: China slowdown helped by Brazil currency depreciation, Bloomberg reports
Brazil’s Vale (VALE) said further local currency depreciation could counter cost rises and a slowdown in Chinese iron-ore demand as it seeks to regain market share from Rio Tinto (RIO) and BHP Billiton (BHP), reports Bloomberg.Reference Link | | | 06:14 EDT | | BHP, VALE, RIO | On the Fly: Periodicals Wrap-Up
 Subscribe for More Information | | | June 14, 2013 | | 05:45 EDT | | AAUKY, BHP, GLNCY | Coal exports fall on Asian oversupply, WSJ reports
Coal exports are slowing, reports the Wall Street Journal. In a troubling sign for U.S. coal producers, shipments fell 31% in April from March driven largely by an oversupply in Asia for metallurgical coal used in steel making. As a result, U.S. producers are now at a further disadvantage to overseas competitors because weakening metallurgical-coal prices are making high-cost U.S. production less profitable for export.Reference Link | | | June 13, 2013 | | 08:19 EDT | | RIO | EDF could take stake in Rio Tinto's French aluminum plants, Reuters reports
Subscribe for More Information | | | June 12, 2013 | | 06:24 EDT | | RIO, GLNCY | Rio, Glencore consider combining Australian coal assets, Reuters reports
Subscribe for More Information | | | June 11, 2013 | | 07:26 EDT |  | VALE | BofA/Merrill to host a conference
Subscribe for More Information | | | June 10, 2013 | | 12:53 EDT |  | RIO | Rio Tinto reports 28.4% stake in Constellium
As part of the ongoing evaluation of investment and investment alternatives, Rio Tinto (RIO) may may hold discussions with or make formal proposals to management or to the board of Constellium Holdco (CSTM). | | | | June 7, 2013 | | 10:11 EDT |  | VALE | On The Fly: Analyst Upgrade Summary
Subscribe for More Information | | | 06:51 EDT | | VALE | Vale upgraded to Outperform from Underperform at Bernstein
Subscribe for More Information | | | June 6, 2013 | | 06:16 EDT | | GLNCY | Glencore to hire four Morgan Stanley LNG traders, Bloomberg reports
Subscribe for More Information | | | June 5, 2013 | | 11:43 EDT | | BHP | BHP Billiton upgraded to Buy from Neutral at BofA/Merrill
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