Unavailability of valuable iron ore from Jharkhand’s Chiria mines may seriously affect the long-term expansion plans of Steel Authority of India (SAIL). According to a top SAIL official, the very existence of the PSU will be at stake if it does not get iron ore from Chiria.
The official said that the present iron ore reserves […]
Montezuma Mining announced that it has successfully negotiated an agreement with Dolphin Resources to acquire their 10% interest of the Mt Padbury licence E52/1529. In consideration for Dolphin’s remaining interest, Montezuma will issue to Dolphin 400,000 fully paid shares and 100,000 options exercisable at $0.20. The licence is highly prospective for gold, manganese and iron […]
Shares in Ferrexpo rose sharply Thursday after the Ukraine-based miner said it had secured 90% year-on-year average price rises for more than half of its expected 2008 iron ore pellet sales.
Analysts had been predicting an 87% rise. The new prices apply from 1 April 2008 to 31 March 2009.
“These settlements are in line with the […]
Beijing is poised to take greater control of China’s push to secure Australian iron ore assets, amid speculation that Chinese entities are considering a $22 billion-plus share raid on BHP. China’s top planning agency says its state-owned enterprises needed greater “macro-guidance” to reduce risks and competition, given the spiralling value of iron ore assets, The […]
A recent surge in steel prices continued Wednesday with ArcelorMittal saying it will increase prices by $250 a ton on some steel shipments — a move that will benefit steel companies such as U.S. Steel Corp., analysts said.
Strong global demand has increased prices for hot-rolled coiled steel from $529 a ton in October to $845 […]
The world’s third largest miner Rio Tinto Wednesday said iron ore sales were at a record level in the first quarter despite lower production from Western Australia.
The miner also said aluminium output had reached an all-time high in the three months to March 2008, reflecting the first full quarter contribution from Canada’s Alcan Inc which […]
President Hugo Chavez said Thursday that his government has approved funding to build an iron and nickel foundry with Cuba.
Cuba is among the world’s largest producers of nickel, which is used to make stainless steel. Venezuela and Cuba signed an agreement last year to produce stainless steel using Cuban nickel–a project slated to involve some […]
Jupiter Mines announced that it is in the process of finalising a formal agreement with Shaw River Resources to acquire the iron ore rights to tenement E45/3183. The tenement was subject to a Heads of Agreement prior to a ballot being held, with Jupiter acquiring the Iron Rights and Shaw acquiring the Mineral Rights if […]
Territory Resources announced today it has committed to spend $25 million over the next two years with the aim of substantially expanding its high grade resource base and extend mine life at the Frances Creek iron ore project.
Territory Resources Chairman Michael Kiernan said the Company was focused on delivering a steady increase in production at […]
The company said iron ore was loaded from the company’s Hunter Siding, near Cloudbreak, to Fortescue Herb Elliot port, marking the completion of the company’s first stage of wet commissioning of its new infrastructure.
“This is the first and vital step to commissioning the entire operation,” Mr Forrest said.
“It is a major step towards achieving first […]