Rio Tinto has committed a further US$3.4 billion (Rio Tinto share $2.9 billion) to the major expansion of its Pilbara iron ore operations in Western Australia.
The Deutsche Bank and JPMorgan bankers must have been sweating in the London hotel room on Tuesday night where their client, the Xstrata boss Mick Davis, vented his frustration that news of his $US90 billion ($83 billion) deal with Glencore had leaked out last week.
Iron ore miners and consumers in Karnataka, including NMDC, the country’s largest iron ore producer, and JSW, India’s largest private sector steelmaker, will have to grapple with higher costs and lower production if the Supreme Court accepts the recommendations of a panel set up to probe illegal mining in the state.
Cliffs Natural Resources Inc. (CLF) said it will dissolve its Michigan iron nuggets joint venture with Kobe Steel (KBSTY) as coal and iron-ore producer Cliffs looks to focus on its core business.
BHP Billiton Ltd. (BHP) is close to striking a A$3.5 billion deal with the government of Gabon over the Belinga iron ore project, which is said to contain about 4 billion metric tons of ore, the Australian newspaper reported Wednesday without citing a source for the information.
BHP Billiton raked in US$18.7 billion in the half-year ended December 31, 2011 — an 8.3% increase in Underlying EBITDA from the second half of 2010.
Downer EDI Limited (Downer) today announced it has been awarded a six year magnetite mining contract with Karara Mining Limited (KML) for the provision of services at the Karara Iron Ore Project in Western Australia.
The Haig Inlet Iron Ore Project contains 230 million tonnes of iron ore at 35.17% iron, a new resource estimate shows.
Anglo Pacific Group (TSX: APY) (LSE:APF) has agreed today to a proposal with Red Rock Resources Plc to acquire 50% of the Mount Ida 1.5% Gross Revenue Iron Ore Royalty (GRR) currently held by Red Rock Resources.
South Africa’s ruling party, the African National Congress, appears to be moving away from nationalization of the mining industry to reassure foreign investors but is considering new taxes and “targeted interventions” in the sector, particularly platinum mines.
Tata Steel Minerals Canada (TSMC), the 80 per cent subsidiary of Tata Steel in Canada, has entered into a “life of mine” rail transportation contract with Quebec North Shore and Labrador Railway Company (QNS&L), a subsidiary of Iron Ore Company of Canada.
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