All Posts Tagged With: "China surplus"

Iron Ore Proves to be the Most Coveted Commodity in the Pacific

There has been little said about BHP Billiton Ltd.’s (BHP) attempted takeover of Rio Tinto PLC (RTP) in recent months, but the proposal is far from dead. In fact, rumors that BHP may increase its bid have brought about even more speculation that China’s largest steelmakers will further enter the fray.

Rio Tinto Group, the world’s third-largest mining company, rose in London trading yesterday (Tuesday) on speculation BHP Billiton Ltd. will increase its $179 billion hostile bid for the company.

“The rumor doing the rounds is that BHP will increase its bid to 3.8 shares for each Rio share,” Manoj Ladwa,…

14May2008 | Money Morning | Comments Off | Continued

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