Monthly Archives: June 2008
The sharks are swimming
Telegraph.co.uk: Anglo American to pore over BHP and Rio’s iron ore assets What makes Anglo or Xstrata think they can outbid the Chinese for decent iron ore assets? If this merger happens on the condition that Rio Tinto is broken … Continue reading
Anglo and Bobby, a match made in hell
People keep a careful count when white people die, but they rarely care about anyone else. Being Jewish, I have a keen sense of history and the injustices of history. I clearly understand that the world is not fair, and … Continue reading
Filed under Uncategorized
Starbucks spies
There has to be a business of sitting in a Starbucks and being a corporate fink. I was in the city of London and between meetings. Being me, I opened my Mac, but as it has been a long week, … Continue reading
Filed under Uncategorized
A good promoter is hard to find
A good project needs a good promoter. I got into a fight with someone a while ago in which I said I would take skilled management over a good promoter any day. I still think I am right, but I … Continue reading
Filed under Uncategorized
Face is saved between the Chinese and the Aussies
Reuters: Baosteel, Rio agree sharp 2008 iron ore price Face was saved between Australia and China by changing the lump and fines premiums rather than going for an across-the-board freight premium. The fact is, Australia ships more lump than Brazil … Continue reading
CSN’s mine is up for sale
Shagang seeks to buy stake in CSN’s iron ore unit Benjamin S. is always willing to sell his good assets to protect his not-so-good ones. CSN controlled Vale, and when the split came, Benjamin S. went the steel route. The … Continue reading
NIMBY and steel
The new barrier to entry is the environmental license to operate. Okay, that seems like a simple statement, but whenever I look at industries that interest me–and I do not mean mines, but actual factories–the single largest barrier to entry … Continue reading
Filed under Porter's Five Forces, Steel
Steel vs. Iron ore
It has been a long week and I have been traveling a lot, so sorry about the scarcity of updates. I have spent most of the week thinking about why I like to own mining assets and not steel mills. … Continue reading
