BHP Billiton Ltd is considering partnering with Chinese miners to seek and invest in mineral ore mines overseas to meet increasing demand for raw materials.
The world's biggest mining company can work with current "strategic partners" such as Tongling Nonferrous Metals Group Holdings Co (
China's economy expanded more than 11 percent for a fourth straight quarter in the three months ended Dec. 31, supporting global economic growth and demand for iron ore, copper and aluminum. BHP Billiton is boosting production of commodities to meet rising demand from nations such as China.
"Considering the capital funding and investment abilities of the Chinese companies, we're looking at the small-and medium-sized mineral ore mines," Shanghai-based Yue said. "We're talking to the Chinese companies and haven't had any targets in mind or a time frame."
The supply of mineral ores from BHP Billiton and Chinese mining companies are not enough to meet rising demand for raw materials in the world's most populous nation, Yue said. Chinese mining companies are showing "keen interest" to acquire assets and BHP Billiton has the expertise in exploring and excavating mineral ore mines, he said.
"For Chinese mining companies, there is keen interest in acquiring assets overseas and we're also looking for such assets," Yue said. "If we find suitable assets, we can cooperate and develop these projects."
BHP Billiton and rival Rio Tinto Group, the world's third-largest mining company, are demanding an iron ore price increase for annual contracts starting tomorrow that would exceed the 71 percent gain won by Brazil's Cia. Vale do Rio Doce.
"The annual price negotiations are always difficult," Yue said. "We have a standard global pricing level for the minerals and the pricing varies only in transportation costs."
MORE VISITORS: The Tourism Administration said that it is seeing positive prospects in its efforts to expand the tourism market in North America and Europe Taiwan has been ranked as the cheapest place in the world to travel to this year, based on a list recommended by NerdWallet. The San Francisco-based personal finance company said that Taiwan topped the list of 16 nations it chose for budget travelers because US tourists do not need visas and travelers can easily have a good meal for less than US$10. A bus ride in Taipei costs just under US$0.50, while subway rides start at US$0.60, the firm said, adding that public transportation in Taiwan is easy to navigate. The firm also called Taiwan a “food lover’s paradise,” citing inexpensive breakfast stalls
TRADE: A mandatory declaration of origin for manufactured goods bound for the US is to take effect on May 7 to block China from exploiting Taiwan’s trade channels All products manufactured in Taiwan and exported to the US must include a signed declaration of origin starting on May 7, the Bureau of Foreign Trade announced yesterday. US President Donald Trump on April 2 imposed a 32 percent tariff on imports from Taiwan, but one week later announced a 90-day pause on its implementation. However, a universal 10 percent tariff was immediately applied to most imports from around the world. On April 12, the Trump administration further exempted computers, smartphones and semiconductors from the new tariffs. In response, President William Lai’s (賴清德) administration has introduced a series of countermeasures to support affected
CROSS-STRAIT: The vast majority of Taiwanese support maintaining the ‘status quo,’ while concern is rising about Beijing’s influence operations More than eight out of 10 Taiwanese reject Beijing’s “one country, two systems” framework for cross-strait relations, according to a survey released by the Mainland Affairs Council (MAC) on Thursday. The MAC’s latest quarterly survey found that 84.4 percent of respondents opposed Beijing’s “one country, two systems” formula for handling cross-strait relations — a figure consistent with past polling. Over the past three years, opposition to the framework has remained high, ranging from a low of 83.6 percent in April 2023 to a peak of 89.6 percent in April last year. In the most recent poll, 82.5 percent also rejected China’s
PLUGGING HOLES: The amendments would bring the legislation in line with systems found in other countries such as Japan and the US, Legislator Chen Kuan-ting said Democratic Progressive Party (DPP) Legislator Chen Kuan-ting (陳冠廷) has proposed amending national security legislation amid a spate of espionage cases. Potential gaps in security vetting procedures for personnel with access to sensitive information prompted him to propose the amendments, which would introduce changes to Article 14 of the Classified National Security Information Protection Act (國家機密保護法), Chen said yesterday. The proposal, which aims to enhance interagency vetting procedures and reduce the risk of classified information leaks, would establish a comprehensive security clearance system in Taiwan, he said. The amendment would require character and loyalty checks for civil servants and intelligence personnel prior to