Iron Investing News reports on Chinese steel and iron ore group, Baosteel. Traders maintain that any deal with Baosteel could help Anglo fend off suitor Xstrata (XTA.L), which last week was told to make a formal bid for Anglo by October 20 or walk away for six months. The opposition to Xstrata’s proposal for a nil-premium [...]
Diamond Investing News reports diamond has its sparkle back. With the discovery of a 507.55 carat white diamond at the Cullinan Diamond Mine, South Africa, the chicken egg-sized stone has opened up new vistas for the diamond sector. For complete story, click this link. Follow developments in resource mining and exploration for free. Sign on [...]
Iron Investing News reports iron seem to have strong signs in the economy. Rio Tinto has completed the sale of its Corumba iron ore mine in Brazil to mining giant Vale SA for a cash consideration of $750 million. The Corumba sale, which was agreed in January, includes a potash project in Argentina and exploration [...]
Gold Investing News reports gold rallying under pressure from the stock market. On Thursday, the metal broke below its 100-day moving average at $885, and sell stops were triggered. “The close below $885 could indicate more pressure to come over the next couple of sessions, with $869 the next support level. It’s seeing some technical selling,” [...]
Iron Investing News reports iron market moving towards a gloomy start. “We need to recognise the fundamentals of the market. The market would show that it does need a downward adjustment this year,” said Sam Walsh, head of Rio’s iron ore division. But given the potential for a recovery in industrial demand at some stage [...]
Gold Investing News reports gold seen as a safe haven commodity and currency. The writing is clear on the wall, according to some experts. Author of Gloom, Boom & Doom report Marc Faber has said the rally in the US markets is likely to continue till April-end, but was quick to add that a total [...]
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