Category: Mining

Corporate mining has announced investments on the order of R$ 47 billion by 2013 in Brazil, the highest volume seen from private initiatives in the country. This total represents a decrease of 20% over figures projected before the worst phase of the international financial crisis (R$ 57 billion). Instituto Brasiliero de Mineraçao-IBRAM estimates that investments between 2010 and 2014 will total R$ 50 billion, a clear demonstration of the consistent recovery of business in the mineral sector.

Billionaire Batista in Talks to Sell $1 Billion EBX Stake

Billionaire Batista in Talks to Sell $1 Billion EBX Stake

via Billionaire Batista in Talks to Sell $1 Billion EBX Stake.

Eike Batista

Eike Batista in Veja magayine

as the billionaire continues his quest to become the world’s richest man.

“Imagine me getting my engine and adding another turbo charger,” Batista said in a telephone interview from Rio de Janeiro late yesterday. Earlier in the day he had announced a deal to sell 5.63 percent of his empire of commodity companies to Abu Dhabi’s Mubadala Development Co. for $2 billion.

The Brazilian mining and energy magnate has seen his net worth surge 17.6 percent this year to $26.5 billion, making him the 11th richest person on Earth, according to the Bloomberg Billionaires Index, a daily ranking of the world’s wealthiest.