City grandee warned over governance
City grandee Sir Paul Judge warned Felix Vulis, then acting chief executive of Eurasian Natural Resources Corp, two years ago to stay on only if governance radically improved, it has…
ENRC’s Zambian assets deal in spotlight
Eurasian Natural Resources Corp bought copper mining assets in Zambia for 46 times what the FTSE 100 company’s founding shareholders paid for them seven years earlier, according to an FT…
Amplats scales back SA restructuring
Anglo American Platinum, the world’s biggest producer of the precious metal, said on Friday it had scaled back its radical plans to restructure its South African operations after its original…
ENRC revenues hit by fall in commodities
Eurasian Natural Resources Corp has warned of a dip in quarterly revenues due to the weaker commodity prices that are affecting the wider mining industry. The FTSE 100 miner said…
Coals to Newcastle lift Port of Tyne to record
Higher demand for coal from UK power stations has contributed to record revenues and pre-tax profits for the Port of Tyne, as the bulk cargo handled by the South Shields…
Report blasts ENRC for Congo deals
©Bloomberg Businessman Dan Gertler has been central to a string of secretive deals in the mineral rich country Deals cut by Eurasian Natural Resources Corp, the FTSE 100 miner, have…
Glencore Xstrata: trump cards
Investors who stayed with Xstrata for the ride of the merger with Glencore will hope good things really do come to those who wait. One week into trading of the…
Congo deals in Progress Panel’s sights
©Bloomberg A copper mine, operated by ENRC, in Katanga province, Democratic Republic of Congo Eurasian Natural Resources Corp’s purchase of SMKK, a Congolese company that owned rights to copper and…
Rio Tinto mine set to go online this year
Rio Tinto will meet its target of commencing copper production at Oyu Tolgoi, its Mongolian mine, confirming a widely expected rise in the supply of the red metal later this…
Midwest leads US manufacturing revival
©Bloomberg General Motors’ Lake Orion plant The bulk of US manufacturing jobs gained since the labour market troughed three years ago have been concentrated in a handful of rust belt…
Two banks resign as ENRC’s brokers
©Bloomberg A copper mine, operated by ENRC, in Katanga province, Democratic Republic of Congo Deutsche Bank and Morgan Stanley have resigned as brokers to Eurasian Natural Resources Corp, adding to…
Rio Tinto chief defends Pilbara expansion
©Reuters The chief executive of Rio Tinto has defended plans to spend US$5bn expanding its iron ore business in Western Australia following criticism from shareholders who fear it could lower…
China trade: data mining
Resource miners were in need of some good news. Falling commodity prices have dragged shares of big mining companies down almost a sixth this year. Hence the news on Wednesday…
AngloGold finance director becomes chief
AngloGold Ashanti, the world’s third-biggest gold producer by volumes, has promoted its finance director to chief executive to replace Mark Cutifani, who left the group last month to replace Cynthia…
Potash mine deposits greater than thought
The prospect of a £1bn potash mine on the North Yorkshire coast has been boosted by evidence that mineral deposits at the planned site are even larger than first thought.…