Hints and tips:
...This has lifted the renminbi, making cargoes of iron ore cheaper for Chinese mills to buy in the seaborne market....
...“This is high grade ore — over 1 per cent copper — it’s soft [so] it will go through the mill very easily,” said Mr McCulley....
...For years, Minas Rio, which Anglo acquired in 2007 for $6.7b, has been a financial millstone....
...At the same time, Chinese mills are cranking out record amounts of steel....
...Brazil is a less obvious place for a long, slow walk – but both Daunt and Wilmot-Sitwell cite the imminent debut of an intriguing new circuit at Ibitipoca, the private reserve in Minas Gerais state owned...
...Tüv Süd was banned in mid-May from certifying further dams in Brazil by a judge in Minas Gerais....
...Samarco produces feed for iron ore pellets, a high grade form of the steelmaking material, which Vale exports mainly to mills in Europe....
...At the same time, Brazilian output will be down for the rest of the year because of the closure of Minas Rio, a mine owned and operated by London-listed Anglo American....
...Oversupply should extend into the rest of 2016 thanks to planned capacity additions from the big four, Minas Rio and Roy Hill....
...He is working on a major redevelopment project in the poor Northside area of Spartanburg that is still suffering from the closure of its textile mill in the 1990s....
...Anglo’s production costs are far higher than peers and Minas Rio in Brazil, a flagship project for previous chief executive Cynthia Carroll, is already three times over budget, Investec said....
...Further supply will come from Vale and the Minas Rio project in Brazil....
...But Minas-Rio is about to deliver its first ore into a much less welcoming world....
...And if that were not enough, Anglo American is set to start production from its 26.5m tonnes a year Minas Rio project by the end of the year....
...Under Anglo’s former marketing approach Minas-Rio, the company’s Brazilian iron ore operation that is coming on stream, would simply have sold its output at a “free on board” price, independent of Anglo’...
...However, it is unclear whether the cold front will extend to Minas’ most important growing region in the south....
...Anglo American, where Mr Cutifani will take the helm in early April, faces challenges ranging from the run-of-the-mill to the existential....
...Nissan chose to set up its $1.4 billion unit elsewhere in Rio state, and Anglo delayed by a year the start of its Minas-Rio project, which includes completing an iron-ore terminal at the port....
...Olam is acquiring Usina Açucareira Passos, a company which owns and operates a sugar mill in Passos, in the state of Minas Gerais in Brazil’s centre-south region, the country’s second largest sugarcane growing...
...It is up 22.5 per cent from a low in October as steel mills have returned to the market following a collapse in prices....
...A third CNAA mill is under development in Minas Gerais state....
...third biggest steel maker, has agreed to pay $400m for 21.5 per cent of MMX, a Brazilian iron ore miner Wisco agreed to purchase at least 50 per cent of iron ore from mines MMX bought in 2007 and 2008 in Minas...
...It plans to build a steel mill in Pará state, near its giant iron ore mine at Carajás, for a total investment of R$5.2bn (US$2.9bn)....
...The company said it was in talks about restructuring its debt and its business, which owns five mills in the Brazilian states of Mato Grosso do Sul, Minas Gerais and Espirito Santo....
...More quietly, the company has been rapidly expanding its presence in its home market through new capacity, including the $1.5bn, 1.5m tonne expansion of plate-producing mill Ouro Branco, and increasingly...
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