mining

The investment is expected to create 8,000 jobs during construction and more than 900 permanent jobs upon completion. The company also expects the annual producton of iron ore concentrate for ArcelorMittal Mines Canada (AMMC) to i

ArcelorMittal (NYSE:MT), an integrated steel and mining company, today announced investing approximately $2.167 bln (C$2.1 bln) to expand its Mont-Wright mining complex, plus additional construction at Port-Cartier, Quebec, Canada

The higher price is contingent on Rio gaining acceptances from holders of more than half of Riversdale shares by March 23.

RIO, which extended the offer period to April 1, said it would not raise its offer in the absence of a competing offer.

Rio Tinto plc (RIO) raised its cash offer for Riversdale Mining to $16.50 per share, up from the $16 offered in December.

Mark Smith, Molycorp President and Chief Executive Officer said, "Molycorp realized significantly higher sales volumes and revenue in the fourth quarter of 2010, Our ability to produce 3,000 tons per year from our current facility

Molycorp (NYSE:MCP) reported adjusted Q4 EPS of $0.03. On average, analysts had expected a loss of $0.07 per share. Revenues for the quarter rose to $21.7 million. Analysts had expected revenues of $13.5 million.

The families are seeking unspecified compensatory and punitive damages in the suit.

Massey shares are up 0.39%, or $0.25, to $64.50.

Shares of Massey Energy (MEE) are holding gains after Reuters reported that the mining company is facing wrongful death lawsuits filed by families of two coal miners killed in the Upper Big Branch mine explosion last year.

An analyst at Canaccord Genuity said that the miner may bid for the company, which is evaluating bids from Equinox Minerals and Inmet.

Freeport-McMoRan has a potential upside of 24.4% based on a current price of $51.81 and an average consensus analyst price target of $64.44.

Freeport-McMoRan (NYSE:FCX) may seek a Lundin takeover, according to a Bloomberg report.

The Wall Street Journal reports Yahoo (YHOO) has been in talks to potentially unload its stake in Yahoo Japan, among many other options, though no deal is near. Reuters reports India's Tata Steel raised its stake in Australia's Ri