China Accuses Iron Ore Giants Of Cutting Supplies
China’s key steel industry association July 18 accused the world’s three leading iron ore producers of cutting back on supply to ensure strong prices ahead of next year’s negotiations. Brazil’s Companhia Vale do Rio Doce, Australia’s BHP Billiton and Rio Tinto are “working together” to strengthen their negotiating positions in talks with Chinese steelmakers,...
Mauritania to supply MENA with iron ore by 2010
Sphere Investments, an Australian-listed company 18.4 percent owned by Saudi steel firm Hadeed and Qatar Steel, said that it will export seven million tons a year of Mauritania’s high grade direct reduction iron ore pellets from 2010 to the Middle East and North Africa (MENA) region, Gulf News reported. To establish a long-term presence and tap vast liquidity in the region, Sphere has listed...
Jindals sign contract for Bolivian iron ore mine
Jindal Steel and Power has signed a contract with the Bolivian government to develop the El Mutun iron ore mine in the Latin American country, Naveen Jindal, managing director of the company, said here Thursday. The Jindals are investing $2.1 billion in Bolivia to set up an integrated steel unit, which will have a capacity to produce 1.7 million tonnes of long products and six million tonnes of reduced...
Rio Tinto denies China’s iron ore manipulation charge
Anglo-Australian mining group Rio Tinto denied on Wednesday a charge by China’s steel industry association that iron ore producers are cutting back production to boost prices. China is the world’s biggest consumer of iron ore and faces new price negotiations next year with the “big three” producers — Rio Tinto, Brazil’s Companhia Vale do Rio Doce and Australia’s...
Giralia Resources Report Direct Shipping Hematite Iron Ore Intersections from Beebyn
Giralia Resources has reported initial drill intersections from its 100% owned Beebyn-Weld range iron ore project in WA’s emerging Mid West iron ore province. Results to date include: RCB 007 36m @ 60.8 % Fe and RCB 016 30m @ 60.3 % Fe open at end of hole. Assay results for the remaining holes are anticipated next week. Original Announcement: Direct shipping hematite iron ore intersections from...
Uganda: Among Top Mineral-Rich Nations
UGANDA is endowed with over 50 minerals, ranking it among the countries in Africa with the biggest number of minerals, the assistant commissioner in charge of geology has said. “Uganda’s metallic and non-metallic minerals are over 50 in number. But there are many unknown minerals whose existence shall be made known after completion of the two ongoing airborne geo-physical surveys, covering...
Mineral Commodities Completes Placement
Mineral Commodities announced that it has completed a placement of 12m ordinary shares at $0.26 per share to raise $3.12m before expenses. The placement has been made to institutional clients of UK based Mirabaud Securities and falls within the company’s 15% placement capacity as set out in ASX Listing Rule 7.1. The funds will be used to further expedite the progress on the company’s Xolobeni...
Grenville Adds 31 New Mineral Concessions to Silveria and Now Has 2797 Ha of Mineral Titles Over Four Former Silver Mines
Grenville Gold Corporation is pleased to announce that its subsidiary Inversiones Mineras Alexander S.A.C. has purchased 31 new mineral concessions totaling 620 Ha from various mineral title owners, to bring the total mineral concessions under the Silveria Project to 2,797 Ha. Grenville is now in a position to maximize the full potential of the former producing Pacococha, Millotingo, Silveria and Germaina...
Bolivia seals $2.1bn mining deal
Bolivia’s state-run Empresa Siderurgica Mutunhas has signed a $2.1bn (£1bn) deal with Indian firm Jindal Power & Steel to mine large deposits of iron. President Evo Morales said the deal marked the largest foreign investment the central South American country. The area to be mined, on Mount El Muntun near the border with Brazil, has 40 billion tons of iron and 10 billion tons of magnesium,...
Barrick Gold Defends Chile Mining Project, Accuses ‘Professional Activists’
Canadian mining giant Barrick Gold used Prime Minister Stephen Harper’s visit Wednesday to do a little damage control on its controversial mining operation in the Andes. With a ragtag group of protesters camped outside the company’s high-rise headquarters in the center of Santiago, a Barrick spokesman blamed “professional activists” for giving Barrick — and Canada —...
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Philex Gold Receives Interim Order for Transaction With Philex Mining Corporation
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American Mining Corporation Signs LOI to Form Production Joint Venture on Terra Gold Project, Alaska
American Mining Corporation announce that it has signed a binding letter of intent to enter...
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