“Anyone who thinks China’s insatiable hunger for metals is going to subside any time soon need think again. On Monday it was announced that Chinese steelmakers have agreed to a new contract with Rio Tinto (RTP:NYSE) for the price of iron ore, which saw a 96.5% rise on last year.” — Dominic [...]
Tags: bhp, billiton, china, coal, futures market, iron ore, oil, Rio Tinto, RTP, speculators, steel, vale
"After naming Merrill Lynch CEO Stan O’Neal (yes, that Stan O’Neal, the one who was forced to step down after revealing $8.4 billion in mortgage writedowns for the investment firm last fall) to its board, Alcoa and Chinese competitor Aluminum Corporation of China, or Chalco, as it’s known, bought a 9% stake (12% [...]
Tags: aa, ach, alcoa, aluminum, bhp, billiton, chalco, commodities trading, corporation of china, doj, justice department, Rio Tinto, RTP, steel, stephanie grimmett
"BHP may have more than just China to worry about. European steelmakers have already started prodding the European Commission to raise antitrust concerns. As a British company, Rio Tinto would have to seek approval from the EC before a merger could go through." — Stephanie Grimmett
by Stephanie Grimmett
Baltimore — (TFN): BHP Billiton (BHP: NYSE) could [...]
Tags: BHP Billiton, BHP: NYSE, China Iron and Steel Association, finance, Financial, miner, mining stocks, Rio Tinto, RTP:NYSE, steel makers, stocks
“We suspect that construction and infrastructure and engineering stocks are going to have a good 2008 with all this spending in the pipeline. And not just in Australia.” — Dan Denning
by Dan Denning, Daily Reckoning Australia and TFN
Blogger’s Note: We saw this piece on the site of the Daily Reckoning Australia. If you don’t believe [...]
Tags: bhp, Bill Bonner, daily reckoning, engineering, finance, Financial, infrastructure, pipeline stocks, Rio Tinto, Saudi Aramco, WorleyParsons
“This superior technology has allowed the company to enter every major mining area of the world, including Australia, Russia, South America, Canada, the United States, Africa and the Middle East. Because of its strong presence in Australia, and its acquisition of Australia’s STACE Pty. Ltd. a year ago, this company is at the top of [...]
Today’sFinancialNews.com
Baltimore — (TFN): Last week, mining magnate BHP Billiton cheerfully submitted a takeover offer for Rio Tinto worth $174 billion. Rio Tinto rejected the offer.
It doesn’t matter that BHP’s offer constituted a 25% premium to Rio Tinto’s price at the time. And apparently it doesn’t matter that BHP offered an additional [...]
Tags: acquisitions, BHP Billiton, Commodities, finance, Financial, john Stepek, M&A, Merger, Moneyweek, news, resources, Rio Tinto
“Merger talks between BHP Billiton and Rio Tinto could signal the end of the commodities boom, say some analysts. If you believe that I’ve got the deed to the Brooklyn Bridge up on eBay. Care to put in a bid?” — Sara Nunnally
by Sara Nunnally, Today’sFinancialNews.com
Wednesday, November 14, 2007
Baltimore — (TFN): BHP Billiton cheerfully submitted [...]
Tags: acquisitions, BHP Billiton, Commodities, finance, Financial, john Stepek, M&A, Merger, Moneyweek, news, resources, Rio Tinto
“If BHP did indeed buy out Rio Tinto, the resulting company would control 36% of the seaborne iron ore market and it would hold a third of the global coal market (mostly the third that’s not powering China at the moment). And if nothing else, a company with a controlling stake in two of its [...]
Tags: acquisitions, BHP Billiton, Commodities, finance, Financial, john Stepek, M&A, Merger, Moneyweek, news, resources, Rio Tinto