Came across it last night from all Africa, with another from Mineweb.co.za - Africa. China state cash wins Africa mining projects.
Another one from mineweb .co za The might of iron ore.20/05/09.Second paragraph. Back in March 2001,a little known company called CVRD ranked as sixth most valuable miner on the global scene.Today that company is known as Vale;where Alcoa has fallen off a cliff,Vale today ranks as no2 miner in the world,by value behind BHP Billiton.What's more to the point,perhaps,is that Vale's market value over the period has increased by nearly ten times-980%-from around USD 10bn to close on USD 100bn. What is also interesting is it goes on to say the big three dominant names Vale,BHP and RIO control if not own,much of the logistics vital to the trade: rolling stock,railway lines,ports handling facilities,and in the case of Vale,an entire monster shipping fleet.Vale recently invested USD 1.6bn in 12 "large" iron ore carriers.
From Investminingnews.com/tata-steel 26/05/09
Tata Steel announces to start mine production South Africa in year 2010.
It Say's it will export the ore to Tata steel's (Corus) manufacturing subsidiary in Europe.
Regards Westcott.
SDL Price at posting:
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