Steel Guru

China and India demand not enough to save gold: Clyde Russell

It should be abundantly clear to the gold bulls by now that the three main factors that drove the metal to its all time high were an unusual combination

Japan iron ore imports up 7% in Jan-Feb

Japan's iron ore imports totaled 10.6 million tonnes in February this year.

Brazil's March iron ore exports down by 18%

Iron ore export volume amounted to 22.6 million tonnes in March this year.

Golden Deeps finds near surface copper mineralization at Namibia project

Golden Deeps has successfully demonstrated that copper mineralization at its Deblin Copper Project in Namibia exists nearer to surface than previously identified.

Mitsubishi could help defuse Anglo and Codelco row

Reuters ported that Japanese trading house Mitsubishi Corporation could cede part of its stake in disputed Chilean copper properties to solve a bitter row between Anglo American Plc and Codelco assets as the mining titans sought more time for the high...

Peru says deal reached on Anglo American mine

Reuters reported that Peru has brokered a deal between the regional government of Moquegua and Anglo American to allow the global firm to build its USD 3 billion Quellaveco copper mine.

Sberbank Capital acquires 49pct of gold ore project in Armenia

Interfax reported that LLC Sberbank Capital a subsidiary of Sberbank of Russia has acquired 49% of shares in Armenia CJSC Paramount Gold Mining which owns the license to develop the Lusadzhur gold ore deposit in Armenia Kotayk Province.

World Bank withdraws $30 million pledge for Thar coal project

Dawn reported that the World Bank has withdrawn its commitment of providing an IDA Credit of $30 million for the Thar Coal and Power Project because of their policy of focusing on low carbon technologies.

Gold sector crisis due to lack of a clear policy – Venezuela

BNamericas reported that the deadline for private sector mining companies in Venezuela to negotiate and form JV gold companies with the state passed a little more than a month ago causing a lot of uncertainty for the sector. This is even more the case...

Peabody Energy bids for ultra low sulfur coal reserves in Southern Powder River Basin

Peabody Energy announced the lease of 402 million tons of ultra low sulfur coal reserves adjacent to its North Antelope Rochelle Mine in the Southern Powder River Basin of Wyoming

Alrosa not planning major investment in Timir iron ore project

Interfax cited Mr Igor Kulichik Russian diamond miner vice president and financial director as saying that Alrosa is not planning major investments in the near term in the Timir iron ore project in Yakutia a 51% stake in which it is selling to steelmaker Evraz Group.

South African steel producers to face collusion charges in tribunal

The Competition Commission has referred a collusion case in the steel industry to the Competition Tribunal and has requested that the tribunal impose a penalty of 10% of each of the steel producers' annual turnover in South Africa. The commission's...

Indonesian Ni Ore export tax levied 20pct

The Indonesian government enforced an export tax system effective May 6th 2012 in which 20% export tax is levied on 14 mineral products of Indonesian origin including nickel ore. As a result Japan and China, two major importers of the nickel ore from...

S Korea to pursue energy and infrastructure projects worth USD 11.1 billion in Venezuela

Yonhap reported that South Korea will pursue 5 energy and infrastructure development projects in Venezuela worth USD 11.1 billion that could open new business opportunities for local companies in the South American country.

Erdemir to start USD 700 million iron ore project

Bloomberg reported that Eregli Demir & Celik Fabrikalari TAS, Turkey’s biggest flat steelmaker, will start USD 700 million investments to develop an iron ore plant by 2016.

Xstrata Coal opens Australian mine training facility

The Baal Bone mine in the Western Coalfields, about 130 kilometres from Sydney and about 26km north west of Lithgow in New South Wales will be used by Xstrata as its regional training centre, where new recruits will spend 12 weeks learning mining skill...

US Navy to build ship hull from titanium

An Office of Naval Research funded project will produce a full size ship hull section made entirely with marine grade titanium using a welding innovation that could help bring titanium into future Navy ship construction.

BHPB coal mines to be hit by new stoppages April 12 – Union

Reuters reported that Australian coal mines owned by BHP Billiton and Mitsubishi Corporation will be hit by a second work stoppage on April 12th 2012, with union workers planning to halt work for two days.

Freeport McMoRan Copper and Gold is moving up

Freeport McMoRan Copper & Gold Inc has done well raising the dividend above 2.6%; this could make the investment a bit more attractive to investors.

Protest against iron ore operation of Vale in Malaysia

About 100 members of Jaringan Aktivis Alam Sekitar Perak JAASP, an environmental non governmental organization, staged a demonstration against the operation of an iron ore processing company, Vale SA, in Teluk Rubiah, Seri Manjung near here.

Indonesia puts on hold talks to impose an export tax for coal

Reuters reported that Indonesia, a major global producer of raw materials, has put on hold talks to impose an export tax for coal and base metals, but still expects to introduce the charge later in 2012.

3 Chinese nationals die in coal mine fire in Malaysia

Three men, all Chinese nationals, died of suspected smoke inhalation after a fire broke out inside the Lucky Hill coal mine in Abok, near Pantu, about 80 km from Sri Aman.

Prophecy Coal to raise USD 800 million for Mongolia power plant

Reuters reported that Canadian energy firm Prophecy Coal Corporation expects to raise USD 800 million in debt and equity financing by September 2012 to build a coal fired 600 MW power plant in Mongolia and expects to conclude a power purchase agreement with the Mongolian government by May 2012.

Rio Tinto still bullish on China growth

Mr Tom Albanese CEO of Rio Tinto as saying that company has shrugged off concerns about a slow down in Chinese demand for commodities, reiterating its faith in the Asian superpower's industrialization.

Oyu Tolgoi to start copper and gold production in late 2012

As Chile is hit by falling ore grades and Peru is hit by delays due to populist agitation, the copper market is pinning a lot on the start of copper production later this year at Rio and Ivanhoe's Oyu Tolgoi mine in southern Mongolia's Gobi desert.