Aluminium Corporation of China Launches IPO
China's largest primary aluminum producer launched a $380-480 million initial public
offering for listings in New York and Hong Kong. Trading is expected to begin in New
York on December 11 or 12. Alcoa said it plans to take up to an eight percent strategic
stake.
Newmont to Become World's Largest Gold Producer.
U.S. based Newmont Mining is offering to buy both Australia's Franco-Nevada Mining and
Normandy Mining of Canada. Analysts say the deal worth $4.4 billion in cash and stock
and will make Newmont the world's biggest gold producer.
Alcoa Offers $6.2 Billion for WMC Ltd.
Australian aluminum producer WMC Ltd. is still negotiating the cash and stock offer
from U.S. based Alcoa Inc., the world's number one aluminium producer. WMC supplies
27 percent of the world's alumina, a raw material needed to produce aluminum.
Copper Prices Fall to Record Lows
Speculative selling has driven copper prices to their lowest levels in 14 years despite
recent announcements of production cutbacks.
Lead Battery Recycling Rate Remains High
In recent years the battery industry recycled over 93.3% of the lead from used lead-acid batteries primarily due to mandatory battery collection take-back laws that exist in 42 states.