News Breaks |
|
|
| March 4, 2013 |
| 12:17 EDT |  | RIO, CLF, VALE, BHP, JOY | Mining companies fall after China seeks to slow housing market
A number of mining companies are retreating after the Chinese government ordered some municipalities to take steps to slow down the country's housing market. China is the world's largest consumer of copper, iron ore, and coal. The country's cabinet on Friday ordered cities with "excessively fast" growth to raise down payment requirements and interest rates on purchases of second homes, according to Bloomberg. The government also indicated that it would seek to more strictly enforce a law requiring individuals to pay a 20% tax on their profits from selling homes when the selling price is available, the news service added. Separately, Bloomberg reported that China is creating large mining companies that will be able to compete with global mining conglomerates for acquisitions of foreign companies. In early afternoon trading, Cliffs Natural (CLF) sank 5% to $24, Joy Global (JOY) dropped 4% to $59.50, Vale (VALE) gave back 3% to $18, Rio Tinto (RIO) dropped 3% to $50 and BHP Billiton (BHP) lost 1.3% to $73. |
|
|
News For CLF;JOY;VALE;RIO;BHP From The Last 14 Days Check below for free stories on CLF;JOY;VALE;RIO;BHP the last two weeks. |
|
|
| June 19, 2013 |
| 14:20 EDT | | CLF | Cliffs says could scrap Bloom Lake expansion if iron price falls, Reuters says
 Subscribe for More Information |
|
| 10:01 EDT |  | CLF | On The Fly: Analyst Downgrade Summary
Subscribe for More Information |
|
| 07:20 EDT | | CLF | Cliffs Natural downgraded at BofA/Merrill
Subscribe for More Information |
|
| 06:30 EDT | | CLF | Cliffs Natural downgraded to Underperform from Neutral at BofA/Merrill
|
|
| 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 |
| 12:03 EDT |  | CLF | Stocks with call strike movement; CLF FSLR
Cliffs Natural (CLF) August 20 call volatility increased 2% to 63, First Solar (FSLR) July 52.5 call option implied volatility decreased 2% to 65 according to IVolatility. |
|
| 09:40 EDT | | CLF | Active equity option families trading on open
Active equity option families trading on open according to Track Data: AAPL NFLX GOOG CLF TSLA CRM. |
|
| 09:32 EDT |  | JOY | Joy Global initiated with a Sell at Axiom Capital
Subscribe for More Information |
|
| 08:22 EDT | | BHP, RIO | 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 | | RIO, VALE, BHP | On the Fly: Periodicals Wrap-Up
Subscribe for More Information |
|
| June 14, 2013 |
| 09:36 EDT | | CLF | Active equity option families trading on open
Active equity option families trading on open according to Track Data: AAPL ELN GOOG TSLA CLF NFLX |
|
| 07:43 EDT |  | CLF | Cliffs Natural contract extension a positive, says JPMorgan
JPMorgan believes Cliffs Natural's contract extension with Essar Steel Algoma has positive implications for Cliffs' core Great Lakes market. The firm questions why Algoma would extend the contract if the region faced a flood of new iron ore supply and keeps an Overweight rating on shares of Cliffs. |
|
| 05:45 EDT | | BHP | 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 |
| 16:21 EDT | | CLF | Cliffs Natural extends iron ore pellet sales contract with Essar Steel Algoma
Cliffs Natural Resources announced that it has entered into an agreement with Essar Steel Algoma to extend the iron ore Pellet Sale and Purchase Agreement between the two companies to 2024. The previous agreement was expected to expire in 2016. The Agreement includes Essar's minimum volume iron ore pellet purchases from Cliffs beyond 2016 and pricing for 2013 through 2024. |
|
| 08:19 EDT | | RIO | EDF could take stake in Rio Tinto's French aluminum plants, Reuters reports
Subscribe for More Information |
|
| June 12, 2013 |
| 07:22 EDT |  | JOY | Boothroyd Dewhurst to host a forum
28th International Forum on Design for Manufacturing & Assembly is being held in Providence, Rhode Island on June 12-14. |
|
| 06:24 EDT | | RIO | Rio, Glencore consider combining Australian coal assets, Reuters reports
Subscribe for More Information |
|
| 06:10 EDT | | CLF | Cliffs Natural temporarily suspends Chromite Project in Ontario
Cliffs Natural Resources announced that its affiliate, Cliffs Chromite Ontario, is temporarily suspending the environmental assessment activities for its Chromite Project in Ontario, Canada. The company indicated that its decision to temporarily suspend these activities is due to delays related to the environment assessment process, land surface rights, and negotiations with the Province of Ontario. The company cited that the following open issues are impeding the progress of the project's environmental assessment process, as well as the Feasibility Study evaluation: Delayed approval of the Terms of Reference for the provincial Environmental Assessment process. Uncertainty regarding the federal EA process due to the current judicial challenge by a number of the impacted First Nations. Unresolved land surface rights issues following a February 2013 Mining and Land Commissioner hearing. Unfinished agreements with the Government of Ontario that are critical to the project's economic viability. |
| |
|
|
|
|
