Word: mininger
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That's because miners, farmers and oil drillers, hit by the credit crunch, can't finance investments that would increase their production capacity. Many won't invest today even if they have access to financing because depressed prices make projects uneconomic. Indeed, when prices spiked sharply in 2007-08, it...
European and U.S. steelmakers say those policies have artificially depressed steel prices and helped boost China's share of total E.U. steel imports from 2% in 2003 to 30% today and its share of U.S. imports from 4% in 2003 to 19% today. "The Chinese are in trouble and they...
Chinalco, China's huge metals company, recently spent $19.5 billion buying into global mining giant Rio Tinto (RTP). Rio needed the money to decrease its debt. There is speculation that China wanted to secure access to minerals. To that extent, the investment was a "strategic" one on China's part...
Other countries in the region are made uneasy by China's thirst for resources. Last month, the Australian government rejected a $1.8 billion bid by Chinese mining company Minmetals to acquire debt-ridden OZ Minerals, the world's second-biggest zinc miner, due to national security concerns. OZ Minerals has...
The Hanoi government says it is listening to concerns but it appears to be unmoved. Dung recently declared bauxite mining a "major policy of the party and the state." Deputy Prime Minister Hoang Trung Hai reaffirmed the government's support, and several local provincial officials were on hand at a...