Ore and More

1. Reuters: China’s biggest iron ore port to raise handling fees
China’s largest iron ore port toll to increase. Rizhao Port announced it will raise its handling fees by 11% on September 1. China’s iron ore imports have risen 22% in the first seven months of this year compared to last year’s level.
2. Business Standard: [...]

1. Reuters UK: China to bolster coal price cap enforcement
A looming winter sends Chinese officials to energy edge. Fearing further power shortages, especially during the colder months, China’s National Development and Reform Commission vowed to strengthen enforcement of its price cap on coal. Thermal coal prices were capped at June 19 levels and producers were [...]

1. Bloomberg.com: Tata plant faces delays as farmers escalate protests
Attempts to commandeer farmland for a factory cause uproar. Tata Motors’ new car factory faces delays in the wake of thousands of protesters. Trinamool Congress, an opposition party, vowed to escalate the protests. Tata is attempting to build the world’s cheapest car.
2. The International Herald [...]

1. Bloomberg.com: BHP subpoenaed by South African regulators on Rio bid
South African antitrust regulators subpoenaed BHP Billiton for related information regarding its hostile takeover bid for Rio Tinto. This is not the first time regulators have been cautious about the bid: European Union regulators opted to widen their investigation in July. BHP is challenging the [...]

1. Telegraph: Chinalco stake in Rio Tinto approved
Chinalco given green light to scoop up more of Rio, but Australian government has its hand on the light switch. The arrangement required the Chinese aluminum company to agree not to raise its stake above 14.99% without further Australian consent and not to seek to appoint a director [...]

1. Reuters: Australia regulator targets iron ore in BHP-Rio bid
Australia’s antitrust regulator voices concerns over competition issues for BHP’s takeover bid of Rio Tinto. While the Australian Competition and Consumer Commission formally presents its ruling on October 1, the group released a statement Friday stating the merger is likely to have too big a hold [...]

1. The Sydney Morning Herald: BHP lifts iron ore spot market target
BHP increases its iron ore spot market involvement: it announces a plan to sell 19 million tonnes on the spot market this year. The company hopes to sell 15% of its iron ore production on the spot market, up from last year’s involvement, which [...]

1. Reuters: ArcelorMittal to buy London Mining Brasil
ArcelorMittal announces its agreement to buy London Mining Brasil for $810 million. The acquisition will help the world’s biggest steelmaker in its quest for raw material self-sufficiency. It is estimated that London Mining Brasil iron ore reserves top one billion tonnes. The steelmaker is considering investing another $700 [...]