MMG Peruvian deal; Amplats sells mines; Mexico steel duties; Steel Dynamics profits; South Carolina plant; Florida recycling rate.
MMG to buy Peruvian copper mine
Australian mining company MMG has received shareholder approval to buy Las Bambas copper mine in Peru for $5.85bn (£3.42bn). MMG has also agreed to an offtake deal with China Minmetals Non-ferrous Metals Co.
Amplats eyes South African mines sale
World number one platinum producer Anglo American Platinum (Amplats) is looking to exit from its Union and Rustenburg mines and Pandora joint venture in South Africa. Sibanye Gold has emerged as the front runner to acquire the mines. Amplats said it had lost over 420,000 ounces in production owing to a wage strike.
Mexican duties on Chinese steel extended
The Economy Ministry of Mexico has extended for another five years the current antidumping duties on imports of Chinese welded steel link chains. They will remain at $0.50 (£0.29) per kilogram. Mexican steelmaker DeAcero had called for a review of the levy. The import of steel and steel products from China at below fair value is seen as a threat by Mexican producers.
Business News Americas
Steel Dynamics profits up
Steelmaker and metal recycler Steel Dynamics recorded a 15% increase in revenue to $2.07bn (£1.21bn) in the second quarter. The firm’s profits also increased sharply to $72.3m or $.31 a share against $29m or $.13 per share in the same period last year.
New recycling unit opens in South Carolina
US-based paper company Pratt Industries’ newest recycling plant has been officially opened in Rock Hill, South Carolina. The facility spanning 72,000 sq ft will accept both residential and commercial recyclables including paper, plastics and metals.
Florida recycling rate reaches 49%
According to Florida’s Department of Environmental Protection, the state’s recycling rate has increased to 49% last year. This represents a significant rise in the amount of solid waste recycled to 10.7 million tonnes in 2013 from 8.8 million tonnes in 2012. The amount of solid waste produced rose to 28.4 million tonnes in 2013 from 25.3 million tonne in 2012.
Waste Management World