Word: aluminum
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Dates: during 2000-2009
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...China's growth rate may be slowing in concert with the world economy, but even at that slower rate, its economy continues to expand, requiring a steady increase in supplies of oil, copper, aluminum and other minerals. And laying in sources of supply for those commodities also helps it prepare for the next boom. As economies across the world shrink, Chinese officials have told reporters in Beijing in recent weeks that they see a rare chance to expand its sources for primary commodities. "There are editorials in the Chinese press saying that this is a one-in-one hundred-year...
...China's state-owned aluminum company Chinalco announced it would inject $19.5 billion in cash into Anglo-Australian mining giant Rio Tinto. More than $12 billion of that will give the Chinese company, which already owns 9% of Rio, a share of some of the mining firm's most valuable mines. The remainder of the cash injection will go into bonds that can eventually be converted into an equity stake, which would double Chinalco's overall ownership position in Rio. The $19.5 billion deal amounts to the largest foreign investment any company in China has ever made. Two days...
...Chinalco, a huge consumer of iron ore, the deal provides potential pricing power over Rio, one of the world's three largest ore producers. Every year, steel and aluminum producers worldwide negotiate with miners over new contracts. For the past few years the mining companies have driven up prices relentlessly. Shan Shanghua, executive secretary of China's Iron and Steel Association, recently hinted that Chinese buyers will have some additional clout at the bargaining table...
...remember e-mail addresses. You have to understand: we have spent decades drinking diet soda out of aluminum cans. That stuff catches up with you. We can't remember friends' e-mail addresses. We can barely remember their names...
...into its savings to cover a shortfall of approximately $1.65 billion this year and up to $3 billion next year. In Montana, which earned big bucks last year from its natural resources, education is funded primarily through property taxes, and many fear that the closing of mines and aluminum plants could trigger a mass exodus and redistribute the tax base. "It doesn't look good," says Eric Feaver, who heads the MEA-MFT, a union of teachers and state employees. "People around here are starting to ask themselves what will happen if people leave...