Germany’s biggest steelmaker, ThyssenKrupp, has announced a major restructuring of its business as it seeks to increase its focus on engineering.

The €10 billion divestment plan is designed to enable the company to strengthen its existing competences in engineering and take advantage of opportunities in emerging markets to expand its current business scope.

Applied Materials, a leading equipment supplier to the semiconductor industry, has taken the first steps in the $4.9 billion acquisition of Varian Semiconductor Equipment Associates, a leading supplier of ion implantation equipment used by chip makers around the world.

After closure, Varian will operate as a business unit of Applied's Silicon Systems Group and continue to be based in Gloucester, Massachusetts.

The UK has the potential to capture just under a quarter of the global marine energy market, according to analysis released today by the Carbon Trust.

Becoming a global leader in the marine energy market would be worth the equivalent of up to £76 billion to the UK economy by 2050, and generate over 68,000 UK jobs, the Trust said.

New jobs would develop on the back of growing export markets in countries such as Chile, Korea and America, as well as European states facing the Atlantic Ocean, which benefit from powerful waves or currents.

New York City has chosen Nissan to supply its next generation taxi fleet. The Taxi of Tomorrow, based on the NV200 minivan, will be built in the Nissan plant in Cuernavaca, Mexico and is expected to enter service in 2013.

The 10-year contract, estimated to be worth $1 billion (£607 million), was announced Tuesday at a City Hall press briefing by Mayor Michael Bloomberg and Nissan Americas Chairman Carlos Tavares.

Aquarius Platinum is to buy the mineral rights to the southern part of Northam Platinum’s Booysendal project for R1.2 billion, it has been announced.

The mineral rights comprise several farms underlain by the UG2 and Merensky reef horizons, collectively called Booysendal South. Aquarius, which will acquire the platinum group metals and associated base metals mineral rights, said that after geological losses, the rights would increase its current resource base by approximately 24 per cent.

Abingdon, Virginia-based Alpha Natural Resources has reported a tripling of net profits to a total of $49.8 million for the first quarter of this year, up from $14 million for the same period a year ago.

Total revenues in the first quarter were $1.1 billion compared to $922.0 million in the same period of 2010. Coal revenues totalled $987.0 million—up 19 percent from $831.3 million a year ago.

London-based Kalahari Minerals has said it remains confident that its relations with Namibia’s government and its investment in the country will continue, despite proposed changes that could see all mining and mineral exploration permits issued to the state-owned mining company, Epangelo.

The proposed changes, outlined by Namibian Mines and Energy minister Isak Katali, are being considered to ensure Namibian citizens receive more benefit from the country’s mineral wealth. Namibia is the world’s fourth-largest producer of uranium.

Caterpillar has reported all time quarterly record profits for Q1 2011, driven by the continuing improvement in global demand for its products and its focus on cost management.

First-quarter revenues of $12.949 billion were up 57 percent from $8.238 billion in the first quarter of 2010. Profit was a record $1.225 billion in the quarter, an increase of 426 percent from $233 million in the first quarter of 2010.

Zinkgruvan, the southernmost base metal mine in Sweden, celebrated the end of 2010 with a double whammy: the completion of two vital projects.

Dorian Wrigley, COO of mining investment company Village Main Reef, talks to Jayne Flannery about the importance of innovation versus tradition in the company’s strategic approach to its asset portfolio.