Copper’s Financial Impact

Antofagasta declares special pay-out

A fivefold rise in the pay-out for 2010 offered proof of the copper market’s financial impact on the mining industry. Freeport-McMoRan, the US copper miner, also declared a 100 cents special dividend for 2010 to clear excess cash.

via FT.com / Companies / Mining – Antofagasta declares special pay-out.

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World factory input costs rising sharply

Rebound in the EU led by Germany appears to have pushed inflation above forecasts. Uncertainty amid the unrest in the Arab world is driving oil prices up, however impacts may be largely speculative and unsustainable. Growth is slowing marginally in China as it seeks to cool overheating. The odd one out is India who’s inflation rate is out pacing it’s Asian neighbors. -RM

via World factory input costs rising sharply | Reuters.

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Energy efficient cargo ships – go fly a kite

We’ll be watching this with interest

Cargill: News Center – News Releases – 2011 – Cargill propels shipping forward with largest kite-powered vessel.

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Stormy Seas off Somalia | RAND

Stormy Seas off Somalia

via Stormy Seas off Somalia | RAND.

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Trade through South Florida ports sets records – Miami-Dade – MiamiHerald.com

South Florida’s top exports to the world were aircraft, precious scrap metal, cellular phones and equipment, computers and computer parts. In return, it got gold, non-crude oil, cellular phone equipment, goods in a category labeled imports of returned exports and computer parts. Though they didn’t rank at the top of the import list, $366 million worth of live crustaceans and $691 million worth of fresh-cut flowers also came in through South Florida ports.

via Trade through South Florida ports sets records – Miami-Dade – MiamiHerald.com.

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UPDATE 2-Cliffs bullish on iron ore prices, ups U.S. exports | Reuters

NEW YORK, Feb 17 (Reuters) – Cliffs Natural Resources Inc (CLF.N) is boosting its U.S. exports of iron ore pellets by up to five times this year to take advantage of “exceptionally high” global prices driven by growing demand from steelmakers, its chief executive said on Thursday.

via UPDATE 2-Cliffs bullish on iron ore prices, ups U.S. exports | Reuters.

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Arcelor, partner in virtual takeover of iron-ore giant – The Economic Times

Arcelor, partner in virtual takeover of iron-ore giant – The Economic Times.

Posted in Iron Ore | Leave a comment