Uranium One Completes Australian Joint Venture Transactions with Mitsui

Uranium One Inc. and Mitsui & Co., Ltd. of Japan announced that all regulatory approvals required to close the joint venture transactions previously announced on October 15, 2008 have been obtained. Mitsui has now acquired a 49% interest in the Honeymoon project and Uranium One’s Australian exploration portfolio including the Goulds Dam and Billeroo projects, and other prospective tenements... 

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Uranium One Establishes Australian Joint Ventures with Mitsui

Uranium One Inc. announced that it has reached agreement with Mitsui & Co., Ltd. of Japan to create joint ventures in relation to the Australian assets of Uranium One. Under the agreement, Mitsui will acquire a 49% interest in the Honeymoon project and the company’s Australian exploration portfolio. This includes the Goulds Dam and Billeroo projects, as well as other prospective tenements... 

Russian billionaire Prokhorov says eyes uranium

State-controlled uranium miner Atomredmedzoloto will be in charge of developing Elkon and other deposits. The company plans to produce 10,000 tonnes a year of uranium by 2015, more than three times what it produced last year. (Reporting by Polina Devitt, writing by Robin Paxton; Editing by David Cowell) – ST PETERSBURG, Russia, June 8 – Russian billionaire Mikhail Prokhorov said on Sunday... 

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Indonesia denies reports of possible coal export quotas

Indonesia has denied that it will set a quota for coal exports as it wants to reserve the coal for future use. The reports had prompted rising interest in the country’s natural resources from energy-hungry China and India. The reports were baseless and the new mining law likely to be passed by Parliament by June would in fact provide more certainty for mining companies, said Simon Sembiring,... 

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Mitsui Mining plans 11 pct rise in H1 zinc output

Japan’s Mitsui Mining and Smelting Co plans to produce 123,300 tonnes of zinc in the first half of the year ending in March 2009, up 10.9 percent from a year earlier. The plan reflects an expected boost from Hachinohe Smelting Co, an affiliated zinc and lead smelter that had been under maintenance over the past year, and increased capacity from the current half at Hikoshima Smelting Co, an affiliated... 

CVRD buys MBR iron ore unit from Japanese partners

Brazil’s CVRD, the world’s biggest iron ore miner, said on Wednesday it will acquire full control of its iron ore subsidiary, Mineracoes Brasileiras Reunidas (MBR), from Japanese partners. Companhia Vale do Rio Doce previously held an 89.8 percent stake in MBR, the world’s fourth-largest iron ore producer, with output of 64.6 million tonnes in 2006. MBR has proven and probable iron... 

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Mittal highest bidder for stake in Sesa Goa

Arcelor Mittal, the world’s top steel maker, has bid about 2,200 rupees ($51) per share for a 51 percent stake in Sesa Goa, and may seek to buy out India’s biggest iron ore exporter, the Economic Times reported on Tuesday. Quoting “people in the know”, the paper said Mittal’s bid, which valued the Indian firm at $2 billion, was higher than those of rivals including one... 

Mitsui takes stake in Aussie coal project

Mitsui & Co. Ltd. and mining group Anglo American Plc. have agreed to buy coal stakes in Australia from Canada’s Sennen Resources Ltd. and Australia’s DJB Coal Pty Ltd., Mitsui said on Friday. Under the deal, Mitsui’s Mitsui Coal Holdings will obtain 49 percent of the interests in Collingwood and Ownaview deposits located in the Surat Basin in Queensland, Mitsui said. Anglo American’s... 

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Mitsui wants bids for India’s Sesa by Feb 19

Mitsui & Co, Japan’s second-biggest trading company, has set a deadline of next Monday for bids for its 51 percent stake in Indian iron ore exporter Sesa Goa Ltd., the Business Standard reported on Monday. Sesa Goa, India’s largest private-sector iron ore exporter, said last month that Mitsui wanted to sell its stake in the company. At Friday’s close, Sesa Goa had a market capitalisation... 

Mitsui to invest $284 mln in Aussie iron ore port

Mitsui & Co Ltd. 8031.T, Japan’s second-biggest trading house, said on Thursday it would spend $284 million on expanding iron ore export capacity at Australia’s Cape Lambert port, in response to strong global demand. The port’s capacity will be expanded to 80 million tonnes of ore annually from 55 million tonnes. The investment is owned by Robe River Iron Associates, a venture...