Nobody who owns a copper mine wants to give it up. Even when Glencore and Anglo American Plc were crippled by debt during the 2015 commodity slump, neither was willing to entertain an offer from Rio for their holdings in the giant Collahuasi deposit in Chile.
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Rio said it expected iron ore shipments for the year to be at the upper end of its range of 330 million to 340 million tonnes, thanks to productivity improvements and fewer weather-related disruptions compared to Q2 2017.
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High-grade iron ore may spike to $100 a metric ton as China intensifies a clampdown on pollution by restraining industrial activity.
The possibility of a strike was talked about over the weekend.
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The autonomous train, consisting of three locomotives and carrying around 28,000 tonnes of iron ore, travelled from Tom Price mine to the port of Cape Lambert
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Medallion Pipeline Co. LLC, Irving, Tex., has launched a binding open season to solicit long-term, firm shipper commitments for a major expansion of its crude oil pipeline system in the Midland basin.
Petroleo Brasileiro SA (Petrobras) has awarded a 3-year master services agreement to TechnipFMC in Brazil, with a 2-year renewal option. The subsea services contract covers components for both the subsea equipment and flexible pipelines.
Flaring of gas at crude-oil production sites worldwide went down in 2017 despite a 0.5% increase in production, the World Bank’s Global Gas Flaring Reduction Partnership reported. The nearly 5% year-to-year decline began to reverse years of increases that began in 2010, it said.
Privately owned Cuadrilla has drilled what it says is the UK’s second horizontal shale-gas well on its prospect at Preston New Road, Lancashire, UK. The well penetrated the Carboniferous Upper Bowland shale at about 2,100 m with a 750-m lateral.
ConocoPhillips has let a 13-well contract to Transocean for the Transocean 712 semisubmersible drilling rig in the UK North Sea. Separately, Chevron Corp. signed an 11-well contract for Transocean’s GSF Development Driller I ultradeepwater semisubmersible drilling rig for work offshore Australia.