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Mining giant BHP mulling demerger

Global mining giant BHP Billiton is considering spinning-off its aluminium, bauxite and nickel assets into a single entity that would be worth about Aus$20 billion ($18.5 billion), reports said Wednesday. The Anglo-Australian resources company wants to demerge "non-core" assets that are not providing adequate returns, as part of a streamlining process that will focus its portfolio on top-tier assets, the Australian Financial Review said.

Chile mines dodge quake harm, but Collahuasi workers evacuated

By Alexandra Ulmer and Fabian Cambero SANTIAGO (Reuters) - Mines in world No. 1 copper producer Chile appear to have emerged unscathed from a major quake that struck near the mineral-rich north of the Andean country on Tuesday. Most mines in quake-prone Chile, which supplies around a third of the world's copper, are designed to withstand tremors. The Collahuasi copper mine and port did not report any damage, but some workers were evacuated to be with their families following the 8.2-magnitude earthquake.

Mining giant BHP mulling demerger

Global mining giant BHP Billiton is considering spinning-off its aluminium, bauxite and nickel assets into a single entity that would be worth about Aus$20 billion ($18.5 billion), reports said Wednesday. The Anglo-Australian resources company wants to demerge "non-core" assets that are not providing adequate returns, as part of a streamling process that will focus its portfolio on top-tier assets, the Australian Financial Review said.

BHP Billiton weighs spin-off of unloved assets

By Sonali Paul MELBOURNE (Reuters) - BHP Billiton <BHP.AX><BLT.L> is weighing a range of options to simplify its portfolio of assets, including a possible spin-off of unwanted businesses such as aluminum and nickel into a separate company, the top global miner said on Tuesday. "We continue to actively study the next phase of simplification, including structural options, but will only pursue options that maximize value for BHP Billiton shareholders," the company said in a statement.

Turquoise Hill reduces full-year loss; faces financing issues at Oyu Tolgoi

VANCOUVER - Turquoise Hill Resources Ltd. (TSX:TRQ) says it may have to ask lenders to extend financing for its flagship Oyu Tolgoi copper and gold project while talks with the Mongolian government over shareholder and other issues continue. Vancouver-based Turquoise Hill, which reported an improved but still large full-year loss on Wednesday, says progress is being made in the talks. However, while discussions remain constructive, it may not be possible to resolve the issues until current lender commitments expire, the company said Wednesday in a statement.

South Africa mediator resumes talks with striking platinum union

By Ed Stoddard and Xola Potelwa JOHANNESBURG (Reuters) - South Africa's government mediator met with the striking Association of Mineworkers and Construction Union (AMCU) on Wednesday to restart talks aimed at ending a crippling platinum strike now entering its tenth week. The Commission for Conciliation, Mediation and Arbitration said in a statement it would separately meet companies Anglo American Platinum, Impala Platinum and Lonmin this week, but industry sources said as of late Wednesday no date for that meeting had been set.

Women struggling to crack glass ceiling in top UK companies: report

By Belinda Goldsmith LONDON (Reuters) - More women are sitting on the boards of Britain's blue-chip companies but the glass ceiling is yet to crack, with most top jobs still held by men and companies needing to do more to promote women, a government report said on Wednesday. The third annual progress report found women now occupy a fifth, or 20.7 percent, of positions in FTSE 100 companies, up from 12.5 percent in 2011, within striking distance of a target for women to account for one quarter of board seats by 2015.

Capstone Mining says study extends Pinto Valley's mine life by eight years

VANCOUVER - Capstone Mining Corp. (TSX:CS) says a new pre-feasibility study on its wholly-owned Pinto Valley copper mine in Arizona has extended the mine's life by eight years to 2026. The company, which bought Pinto Valley last year, says average annual production for the first five years is targeted at 128.4 million pounds of copper in concentrate and 6.6 million pounds of copper cathode. Annual production for the life of the mine is 119.5 million pounds of copper in concentrate plus 6.3 million pounds of cathode copper.

Women struggling to crack glass ceiling in top UK companies: report

By Belinda Goldsmith LONDON (Reuters) - More women are sitting on the boards of Britain's biggest companies but the glass ceiling is yet to crack, with most top jobs still held by men and companies needing to do more for gender balance, a report showed on Wednesday. The latest of three British government reports on gender in boardrooms found women now hold a fifth, or 20.7 percent, of board positions in FTSE 100 companies, up from 17.3 percent in April 2013 and 12.5 percent in 2011, but short of a 2015 target.

Anglo American resumes operations at Los Bronces mine in Chile after violent protests

SANTIAGO, Chile - British mining company Anglo American Plc is resuming operations at its Los Bronces copper mine in Chile after violent protests by contractors. The company said Tuesday it is restarting the mine a day after halting operations to guarantee the safety of its employees. Anglo American also had evacuated the mine's workers after contractors took over roads leading to Los Bronces by setting mining truck tires afire and vandalizing the mine. The mine is expected to operate normally by the end of the day.
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