After crumbling down a year ago for suffering massive losses, Bloom Lake iron ore mine in Quebec finally has a buyer. The losses Bloom Lake incurred shows how the commodity meltdown has adversely affected the metals industry.
Freeport-McMoRan Inc
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Billionaire investor Carl Icahn has bought 7.13 percent stake in Xerox Corp. Carl Icahn's statement terming the shares of Xerox are undervalued has triggered the price rise in stock. The stake sale will pave the way for strategic changes at Xerox Corp. Icahn will represent on Xerox's board and is expected to take up enhancing of operational performance.
Newmont Mining Corp has signed a deal with the Indonesian government that will allow for the resumption of copper concentrate exports next week, the head of the firm's local unit said on Thursday, ending an eight-month tax dispute.
As negotiations to resolve an increasingly bitter dispute over Indonesian mining rules teetered on the brink of collapse, the chairman of Freeport-McMoRan Inc James "Jim Bob" Moffett flew to Jakarta for last-ditch talks.
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