Copper output dips at Anglo American October 20, 2011 MINER Anglo American posted a nine per cent drop in third-quarter copper output, blaming lower grades and blizzards in Chile, but said full-year production would be above 2010, thanks to the expansion of Los Bronces. The expansion of the flagship Los Bronces mine in Chile is on track for first production in the fourth quarter, [...]
BHP ups iron production as prices slide October 20, 2011 GLOBAL miner BHP Billiton reported a 24 per cent jump in quarterly iron ore production yesterday, its foot stuck firmly to the accelerator even as prices for the steel-making commodity slide and Chinese steel mills wind back output. BHP’s iron ore production for the September quarter largely met market expectations, putting it on a record [...]
BHP eyes bid for Brazilian iron ore miner October 16, 2011 MINING giant BHP Billiton is close to making a £2bn bid for Ferrous Resources, the Brazilian iron ore miner that made a failed attempt to float on the London Stock Exchange last year. Ferrous is understood to be the latest target for Marius Kloppers, BHP’s chief executive, who announced in August that the company was [...]
BHP Billiton commits to $1.2bn capital for mine October 12, 2011 BHP BILLITON yesterday approved $1.2bn (£761m) in pre-commitment capital to start expansion work on its Olympic Dam copper and uranium mine, which analysts say could nearly cost 30 times this sum to develop fully. The funds will be used to buy trucks, build worker housing and for other items requiring lengthy lead times, it said. [...]
CAR TALK October 11, 2011 RENAULT TWIZY Renault’s electric Twizy compact two-seater goes on sale in March next year. Designed for urban use, the Twizy will cost from £6,690 plus a monthly battery hire cost of £40. Capable of up to 50mph, it has a range of up to 60 miles around town and takes 3.5 hours to charge. VOLKSWAGEN [...]
Chrysler’s Ypsilon does premium October 4, 2011 While scrolling through the radio, inside the new Chrysler Ypsilon I’m driving, I find one of the station presets tuned to Radio Italia. It’s an unusual choice and a reminder of this car’s roots. It’s possible you haven’t heard of the Ypsilon. It has never been sold in the UK, and elsewhere it wears a [...]
Kazak miner plots to oust chairman October 2, 2011 HEADHUNTERS have been called in to find a new chairman for the Eurasian Natural Resources Company (ENRC), despite confirming the incumbent Johannes Sittard in the role in its corporate governance review last Wednesday. The FTSE 100 Kazakstan mining company last week said it was “fully supportive” of the board-level reshuffle that kept Sittard at the [...]
Commodities on track for dire quarter September 29, 2011 COMMODITIES, which are on course to close on their worst quarter since 2008 amid concerns over a global slowdown, gained some breathing space yesterday after the German parliament backed plans to expand the Eurozone’s bailout fund. Copper – often seen as a bell-weather for economic growth – as well as other industrial metals have been [...]
The latest in Mini’s adventure September 27, 2011 IF you’re not a Mini fan look away now. The relentless march of the Mini brand has taken a further step towards automotive world domination with the introduction of its fifth model in the mini lineup, the Mini Coupé. According to the marketing guys at Mini, a two-seater Mini is just what the world needs. [...]
BHP Billiton pays chief $11m September 21, 2011 Mining giant BHP Billiton paid chief executive Marius Kloppers close to $11m (£7.04m) during 2011, a year that saw the firm post a record profit of $31bn. His base salary, along with those of other directors, was raised four per cent to $2.1m, with the rest of his eye-watering payout made up of benefits and [...]