In July 2007, one year after the housing bubble peaked and five months before the beginning of the Great Recession, Citigroup CEO Chuck Prince talked to the Financial Times about the health of the housing market.
"When the music stops," he said, "things will be complicated. But as long as the music is playing, you've got to get up and dance."
Shanghai-listed Western Mining Co Ltd said it plans to build a 100,000-tonne-per-year copper smelter in the northern western Chinese province of Qinghai, Reuters reported:
The cost of the project was estimated at 2.28 billion yuan ($347 million), the company said in a statement on Friday, adding that it would seek a partner to build the smelter with the Western Mining holding a majority stake.
"The project is going to add pressure to the local supply of copper concentrate," said senior copper analyst Yang Changhua at state-backed research firm Antaike.
China's move on Kalahari Minerals could flush out other bidders for the uranium miner but even long-term suitor Rio Tinto may balk at getting into a bidding war with such a formidable foe.
IAMGOLD Corporation signed a memorandum of understanding on Monday with China National Gold Group Corporation to cooperate in the development of mineral […]
Chinese companies wanting to invest in Australian resource firms have reassessed how they approach deals, and tensions over the last few years have evaporated, Australian Resources Minister Martin Ferguson said on Wednesday.
China's top copper producer Jiangxi Copper (0358.HK) (600362.SS) expects domestic copper prices to rise this year, mainly due to a supply squeeze, its chairman said on Saturday.
The head of China's largest metals trader has called for government efforts to consolidate the rare earth industry and nurture competitive domestic firms in the sector.
Zhou Zhongshu, president of China Minmetals, said that the difficulties facing China's rare earth industry mainly come from the fact that local authorities, owners of rare earth mines, tend to issue mining licenses to local firms.