Iron Ore Mining News

West African gold and iron ore: a mining boom in one fifth of Africa

Gold mines in Mali are an underexploited treasure trove for commodity investors, the supervisory board chairman of German-listed Pearl Gold told Reuters in an interview, Mineweb reports.

East China iron ore mine flood traps 21 underground

Twenty four miners were trapped in a flooded iron ore mine in east China's Shandong Province, the rescue command center said Monday. Previously, 21 miners were believed to be trapped in the mine.

Staff shortages threaten Aussie miners

Chronic labour shortages in resource-rich Western Australia could put mining projects at risk, as the state struggles to plug a shortfall of skilled workers set to balloon to 150,000 by 2017, the region's jobs minister said on Monday.

Winmar Resources to acquire stake in two new iron ore projects

Winmar Resources Ltd is acquiring up to a 75% interest in two new iron ore projects from Cazaly Resources Ltd, the Ethel Creek (E46/0918) and Mt Stuart (E47/2012, E47/2027, E47/2043) iron projects.

Spectre of new Indian mining bill spooks coal producers and shareholders

A new Indian draft mining bill is causing concern among mining groups and their investors in one of the world's leading coal and iron ore producing countries. Accoring to India's Economic Times, shares in Coal India have fallen after news of the possibility of a new Mining and Mineral Development Regulation Bill emerged. 

W Australia on Irish recruitment drive

Chronic labour shortages in resource-rich Western Australia could put mining projects at risk, as the state struggles to plug a shortfall of skilled workers set to balloon to 150,000 by 2017.

Australia to catch up with Europe as carbon tax details emerge

Australian businesses are reacting to the details of a new carbon tax which has been lauded by environmentalists as historic but condemned as economic madness by critics. Despite the criticism, analysts say Australia lags behind parts of the developed

Five companies from Turkey among world's biggest steel producers

Five Turkish companies have been named among the world's biggest steel producers. ANKARA- Turkish companies Erdemir Group, Habas, Icdas, Diler Group and Colakoglu Metalurji were included in the world's leading steel & metal markets publication Metal

Peabody, ArcelorMittal bid $5 bln for Macarthur Coal

Peabody Energy has teamed up with ArcelorMittal to offer $5 billion for Australia's Macarthur Coal , the world's biggest producer of pulverised coal, as demand for steel-making raw materials intensifies. The cash offer of A$15.50 a share represents a 40-percent premium to Monday's close and comes just a day after Australia unveiled a plan to tax carbon emissions from the nation's worst polluters, or about 500 companies, including coal miners.

Indian Steel Corporation unveils ISC Steel Zone at Jaipur

The demand of galvanized & cold rolled sheets now fulfilled Shri R.K. Lodhi, Head Marketing, Indian Steel Corporation Ltd. Shri R.K. Lodhi, Head Marketing, Indian Steel Corporation Ltd. Indore, M.P., July 8, 2011 /India PRwire/ -- Indian Steel

Schnitzer Steel Industries Earnings Review: 8 Days After Announcement Shares Up 0.63 pct (SCHN)

When Schnitzer Steel Industries (NASDAQ:SCHN) reported earnings 8 days ago on June 30, 2011, analysts, on average, expected the company to report earnings of $0.85 on sales of $747 million. The company actually reported EPS of $1.10 on sales of $722

India's demand for iron ore made of steel

Much has been made of China’s insatiable appetite for the world’s natural resources but demand growth from another Asian giant is changing the dynamics of the global steel market. Indian demand for steel grew 10 percent last year, helping push global demand to a record 1.4 billion tons in 2010. Over the past two years, India’s renewed economic growth has brought a dramatic increase in the country’s steel production as well as domestic consumption.

Indian iron ore exports may fall over 20 pct in FY12: FIMI

Iron ore exports may fall by over 20% to around 75 million tonne in the current fiscal as a result of hike in duty on overseas shipments, miners body Federation of Indian Mineral Industries said.

Alderon strengthens mining team with addition of former Iron Ore Company Vice President as Chief Executive Officer

Alderon Resource Corp. (TSX VENTURE:ADV)(OTCQX:ALDFF) announced the addition of Mr. Tayfun Eldem, P.Eng. as the President and Chief Executive Officer of the company effective September 7, 2011, at which time Mr. Mark J. Morabito will assume the role of Executive Chairman and Mr. Stan Bharti will assume the role of Vice Chairman.

Champion Minerals Announces Up to 139 Metres of 52.8% Total Iron from the Attikamagen Project

Champion Minerals Inc. (TSX:CHM)(FRANKFURT:P02) announced assay results from the Attikamagen Project, which is wholly-owned by Champion and under option to Century Iron Mines Corp. and is located in north-eastern Quebec and western Labrador, near the town of Schefferville, Quebec. The 2011 winter drilling program focused on several potential taconite and direct shipping ore ("DSO") targets near Hayot Lake, Quebec and Joyce Lake in western Labrador. Century Iron completed over 2,000 metres of combined diamond and reverse circulation ("RC") drilling and are continuing the current phase of drilling which is expected to be completed by December 2011.

New SA-NSW iron-ore province needs $7.6 billion infrastructure investment

Mining Weekly reports that the development of a new iron-ore province in South Australia would require an estimated A$7.6-billion in infrastructure investment. The market news is quoted as saying, Promoting the iron-ore province at the Australian Resources Chinese Investment Congress in Adelaide, Alliance spokesperson Andrew Woskett said that any individual components of the overall infrastructure proposals could make stand-alone investment opportunities, in their own right.

India joins China bidding for Afghan mining riches

While Western mining multinationals are conspicuous in their absence from any bids for Afghanistan's vast resources of copper and iron ore Tata Steel on Thursday joined other Indian steelmakers to bid for the Hajigak iron ore deposits 130km west of Kabul. So far only China has made any firm commitment to the country's mining sector with state-owned Metallurgical Corp's successful $3.4bn bid to build a copper mine – and a $6bn railway to go with it – that should enter production in 2014.

India renews iron ore supply contract

NEW DELHI The Indian government on Thursday renewed long-term agreements to supply iron ore to international steel majors like Japanese Steel Mills (JSMs) and Posco. The decision was taken by the union cabinet at its meeting on Thursday morning. Union

Increase to Previously Announced Private Placement: American Vanadium Corp.

American Vanadium Corp. (CVE:AVC) reports the non-brokered private placement has been increased to 2,334,667 units for total proceeds of $3,502,000.50.

Segue Resources to acquire up to 51% of the Emang Manganese project in South Africa

Segue Resources Limited has signed an agreement to acquire up to 51% of the Emang Manganese Project in the Postmasburg Manganese Field in South Africa, one of the world's largest manganese fields.

Iran processed iron ore output up

Iron ore concentrate production in the first quarter of last year reached 6.694 million. During the said period, the top producer was Chadormalu Mining & Industrial Co. whose production reached 2.428 million tons.

Altius Minerals Corporation more than triples profits to $70m in 2011

Altius Minerals Corporation reported net earnings of $70,239,000 or $2.42 per share for the year ended April 30, 2011 compared to net earnings of $20,963,000 for the prior year.

TurkPower to acquire majority interest in Kuluncak iron ore mine

TurkPower Corporation announced the purchase of 50.09% working interest in Maksor Madencilik Sanayi Ve Ticaret Anonim Sirketi the 100% private owner of the Kuluncak iron ore project in Turkey.

PM urged to protect steel industry

A union leader has called on David Cameron to take long term measures to help the steel industry, after jobs in Lincolnshire and Teesside were cut.

Renewal of Long Term Agreements for supply of iron ore to Japan and South Korea through MMITC Limited

The Cabinet in its meeting held on 30th March, 2006 had authorised MMTC to engage in fresh Long Term Agreements (LTAs) with Japanese Steel Mills (JSMs), POSCO of South Korea and Chinese Steel Mills for supply of iron ore for a period of five years