Australia Grapples with Chinese Influence

Australia Grapples with Chinese Influence

By Steve Fiscor, Editor-in-Chief

Last month, E&MJ offered details on the $19.5 billion strategic partnership between Aluminum Corp. of China (Chinalco) and Rio Tinto. The proposed deal would give Chinalco substantial interest in some of the Anglo-Australian miner’s iron ore, copper, and aluminum operations, but Rio Tinto would retain operational control. It would also raise Chinalco’s equity interest in Rio Tinto to 18% from 9.3%. This deal has some major implications for the global mining business and how it interacts with local governments and state-owned companies.

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Gold Reserve Wins the Battle, but Rusoro Will Get the Gold

Gold Reserve Wins the Battle, but Rusoro Will Get the Gold

By Steve Fiscor

With the help of a Canadian court Gold Reserve was able to fend off a hostile takeover from Rusoro Mining during February. Gold Reserve is a Canadian mining company, which holds the rights to the Brisas gold/copper project in Venezuela (10 million oz of gold and 1.4 billion lb of copper). Rusoro is also a Canadian mining company with a large land position in Venezuela. It operates the Choco 10 and Isidora mines, processing the ore through the Choco 10 mill facility.

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The Mining Business Pauses to Catch Its Breath

The Mining Business Pauses to Catch Its Breath

By Steve Fiscor, editor-in-chief

The wheels began falling off the financial bandwagon in December. The signs were evident even before Bernard Madoff Investment Securities was exposed as a Ponzi scheme and $50 billion worth of investments disappeared. In India, Satyam Computer Services topped the news cycle for a while with $1 billion in alleged fraudulent accounting practices. All of this scandalous behavior could easily be summed with an often cited quote from Warren Buffet, chairman, Berkshire Hathaway, who said in 2001, “you find out who’s swimming naked when the tide goes out.”

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From the Editor

Steve Fiscor, Editor-in-Chief, EMJ, Engineering Mining Journal
Steve Fiscor heads a world class group of writers and editors serving the mining and construction markets. He has served as editor-in-chief for E&MJ since 2003 and Coal Age since 2001. He writes articles on mining and processing, organizes the technical programs for several conferences, and produces many of MMI's ancillary products.