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Major shareholders raised the stakes in the battle for control of Mozambique-focused coking coal miner Riversdale Mining, with Rio Tinto extending its offer period for the miner while Cia. Siderurgica Nacional said it had further raised its stake in the company.
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Mongolian officials are sitting down with bankers in the coming days to discuss the multibillion-dollar sale of shares in the world's largest coking coal deposit.
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Xstrata's full-year net profit soared nearly sevenfold, largely because of restructuring activities undertaken during the economic downturn.
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ArcelorMittal swung to a $780 million loss but said demand should improve this year. The world's largest steelmaker said it expects U.S. steel demand to rise 10%.
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Spring has come early for ArcelorMittal, as the steelmaker benefits from buoyant steel prices, improving demand and tight supply. Its stock deserves a less wintry valuation.
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