Alliances with Chinese steel makers will be the key to determining whether iron ore explorers become producers and exporters, says Australasian Resources Ltd managing director Andrew Caruso.
Mr Caruso was responding to comments by Rio Tinto Iron Ore chief executive Sam Walsh that only a handful of the 90 or so iron ore juniors on the [...]
The two global steel giants that snapped up Canada’s two largest steel makers are battling in court over a soured deal involving a jointly owned iron ore mine in Labrador.
ArcelorMittal Dofasco Inc. is suing U.S. Steel Canada Inc. (the former Stelco Inc.) and mining company Cleveland-Cliffs Inc. after ArcelorMittal’s an agreement to buy out its [...]
Russian steel maker Mechel said on Wednesday it has agreed to pay $1.5 billion (750 million pounds) in cash to acquire ferro-chrome producer Oriel Resources as it expands its ferro-alloy business.
Mechel, Russia’s largest coking coal producer, said it would pay 219.86 U.S. cents per share in Oriel, a Britain-based company that operates a ferro-chrome [...]
Opening arguments are expected today in a lawsuit that pits a steel maker against West Virginia’s largest coal company.
Wheeling-Pittsburgh Steel Corporation is suing a subsidiary of Richmond, Virginia-based Massey Energy for failure to deliver coal to the steel producer’s coking operation in Follansbee.
Wheeling-Pitt sued Central West Virginia Energy Company in April 2005 claiming the company [...]
Australian iron ore prospector Fortescue Metals Group Ltd. said on Thursday it had revamped a supply agreement with Chinese steelmaker Tangshan Iron and Steel Group that increases volumes.
Tangshan, which had already agreed to take up to 5 million tonnes of ore a year from Fortescue’s western Australian mines, has committed to purchase up to a [...]
Shipments of nickel laterite ore from the southern Philippines to China more than tripled in April from a year earlier as Chinese companies sought alternative supplies.
Exports rose to 492,002 tons from 144,547 tons, according to Bureau of Customs data obtained yesterday. The southern Philippines mines most of the nation’s low-grade ore, which competes with easier-to-process [...]
The board of Russian coking coal miner Raspadskaya recommended a dividend of 1.94 roubles ($0.075) per share for 2006, Raspadskaya said on Friday.
“The board of directors recommended paying out 50 percent of net income in 2006,” a Raspadskaya statement said.
Raspadskaya, part-owned by steel maker Evraz Group , posted a 33 percent drop in net profit [...]
POSCO, the world’s third largest steel maker, said yesterday it has developed a new non-nickel stainless steel product, which is 50% cheaper than the popular stainless steel with nickel.
Facing record high nickel prices, POSCO has been considering trimming nickel consumption and switching to metal with zero-nickel content. Global nickel prices have soared 50% so [...]
Posco, the world’s fourth-largest steel maker, will raise output of a nickel-free stainless steel fivefold next year as the price of nickel has hit a record.
Posco plans to sell 10,000 tonnes a month of the steel, which it introduced this month, from 2,000 this year, the Pohang-based firm said yesterday. The steel, which uses chromium [...]
“In terms of its economic and geopolitical impact, what is happening in Asia today is probably most akin to the Industrial Revolution, when the world’s leading economies replaced manual labor with mass-scale manufacture of machinery, railways began to criss-cross the continents, the steam engine revolutionized the world, and later, skyscrapers first poked at the skies. [...]
