BHP Billiton Ltd is considering partnering with Chinese miners to seek and invest in mineral ore mines overseas to meet increasing demand for raw materials.
The world's biggest mining company can work with current "strategic partners" such as Tongling Nonferrous Metals Group Holdings Co (
China's economy expanded more than 11 percent for a fourth straight quarter in the three months ended Dec. 31, supporting global economic growth and demand for iron ore, copper and aluminum. BHP Billiton is boosting production of commodities to meet rising demand from nations such as China.
"Considering the capital funding and investment abilities of the Chinese companies, we're looking at the small-and medium-sized mineral ore mines," Shanghai-based Yue said. "We're talking to the Chinese companies and haven't had any targets in mind or a time frame."
The supply of mineral ores from BHP Billiton and Chinese mining companies are not enough to meet rising demand for raw materials in the world's most populous nation, Yue said. Chinese mining companies are showing "keen interest" to acquire assets and BHP Billiton has the expertise in exploring and excavating mineral ore mines, he said.
"For Chinese mining companies, there is keen interest in acquiring assets overseas and we're also looking for such assets," Yue said. "If we find suitable assets, we can cooperate and develop these projects."
BHP Billiton and rival Rio Tinto Group, the world's third-largest mining company, are demanding an iron ore price increase for annual contracts starting tomorrow that would exceed the 71 percent gain won by Brazil's Cia. Vale do Rio Doce.
"The annual price negotiations are always difficult," Yue said. "We have a standard global pricing level for the minerals and the pricing varies only in transportation costs."
Japan has deployed long-range missiles in a southwestern region near China, the Japanese defense minister said yesterday, at a time when ties with Beijing are at their lowest in recent years. The missiles were installed in Kumamoto in the southern region of Kyushu, as Japan is attempting to shore up its military capacity as China steps up naval activity in the East China Sea. “Standoff defense capabilities enable us to counter the threat of enemy forces attempting to invade our country ... while ensuring the safety of our personnel,” Japanese Minister of Defense Shinjiro Koizumi said. “This is an extremely important initiative for
MORE POPULAR: Taiwan Pass sales increased by 59 percent during the first quarter compared with the same period last year, the Tourism Administration said The Tourism Administration yesterday said that it has streamlined the Taiwan Pass, with two versions available for purchase beginning today. The tourism agency has made the pass available to international tourists since 2024, allowing them to access the high-speed rail, Taiwan Railway Corp services, four MRT systems and four Taiwan Tourist Shuttles. Previously, five types of Taiwan Pass were available, but some tourists have said that the offerings were too complicated. The agency said only two types of Taiwan Pass would be available, starting from a three-day pass with the high-speed rail and a three-day pass with Taiwan Railway Corp. The former costs NT$2,800
POLLS CONCERNS: There are concerns within the KMT that a Cheng Li-wun-Xi Jinping meeting could trigger a voter backlash in elections in November Chinese Nationalist Party (KMT) Chairwoman Cheng Li-wun (鄭麗文) accepted an invitation from Chinese President Xi Jinping (習近平) to visit next month, her party and Chinese state media reported yesterday. Cheng, who took up her role in November last year, “gladly accepted” the invitation to lead a delegation to China, the KMT said in a statement, confirming a Xinhua news agency report. Cheng “looks forward to joint efforts by both parties to advance the peaceful development of cross-strait relations, promote cross-strait exchanges and cooperation, and work for peace in the Taiwan Strait and greater well-being for people on both sides,” the statement said. Chinese
SIGNIFICANT TO THE WORLD: The delegation’s visit aims to send a clear message that bipartisan support for Taiwan is consistent, US Senator Jeanne Shaheen said The US Senate’s bipartisan support for Taiwan remains strong and Taiwan-US ties would continue for decades to come, a US Senate delegation said in Taipei yesterday, while calling on the legislature to swiftly pass a special defense budget bill. A US delegation led by Democratic US Senator Jeanne Shaheen and Republican US Senator John Curtis — both members of the US Senate Committee on Foreign Relations — arrived in Taiwan yesterday for a two-day visit. The other senators of the delegation included Senate Taiwan Caucus cochair Thom Tillis and Senate Committee on Armed Services senior member Jacky Rosen. Shaheen told a news
RSS