ERC minerals has appointed a new Executive Director, no other than Ivor Jones.
Shares of BHP Billiton, a mining and petroleum firm in Melbourne, started chasing oil prices very closely as they entered into the horrible downturn period in the oil industry. Analysts expect the miner to rally by nearly 50% in the coming months.
Freeport-McMoRan said that it has planned to trim up to $10 billion debt through earnings from joint venture transactions and asset sales. The mining group also reported a loss of $4.1 billion for the fourth quarter.
The mining industry would suffer further degrowth without changes in policy and structure.
Caterpillar, Inc. faces bleak prospects this year as inventories get reduced and mining demand weakens.