Iron Ore Mining News

Proto Resources: Government grants mining lease for new Tasmanian project

The Directors of Proto Resources & Investments Ltd are pleased to announce that the Tasmanian Government has granted Mining Lease ("ML") 1872P/M over the area of the company's Barnes Hill project near Beaconsfield.

Brazil’s steel industry ‘almost at crisis point’ quotes an analyst at an industry conference in Rio de Janeiro as saying on Tuesday Brazil's steel industry is "almost at crisis point," due to the country's strong currency and soaring raw-materials costs. Steelmakers have been hit by soaring prices for raw materials, including metallurgical coal and iron ore, prices for which reached record-high levels earlier this year. Some steelmakers have intensified their own iron-ore production activities in Brazil to shield themselves from high ore prices, but Brazil lacks sufficient coking coal resources.

Tata Steel aims at investing at early stage of mine

Entirely reliant on non-captive sources to feed its plants in Europe, Tata Steel will stick to long-term policy of being an "early stage investor" when it comes to acquiring raw material assets, a senior company official said.

China Direct Industries to commence iron ore shipments to China from its Bolivian operations in the fourth quarter

scal 2011 Anticipates Fiscal Fourth Quarter Shipments From Bolivia in Excess of 85,000 Metric Tons Currently Valued at $10 Million With a Progressive Ramp in Shipment Levels Throughout Fiscal 2012 China Direct Industries, Inc. ("China Direct Industries")

Sundance shortlists partners for $4.6B iron ore project

MELBOURNE (Reuters) - Sundance Resources has shortlisted potential partners for its $4.6 billion iron ore project in West Africa, it said on Wednesday, sending its shares up as much as 6 percent.

Imported iron ore stocks rise for sixth straight week

The stock of imported iron ore last week was 400,000 metric tons higher than one week earlier, or up 0.4 percent week-on-week, according to the index compiled by the Xinhua News Agency to track iron ore inventories and imports in Chinese spot markets.

TWP Projects – long-term expansion project at Sishen iron ore mine

Engineering project house TWP Projects' in-house infrastructure division has been awarded the contract for all infrastructure-related work for the expansion project at Kumba Iron Ore's Sishen mine. Operating since 1947, Sishen is one of the world’s largest open-pit mines, producing in excess of 34 Mt/y of iron ore.

Australia’s queen of iron ore set to become the world’s richest person

Australian businesswoman Gina Rinehart who inherited a debt-ridden mining company 20 years ago, is predicted to become the world's richest person, according to media reports on Tuesday. Rinehart, 57, is already the richest Australian after her wealth more than doubled to $10.3bn this year. That still places her far behind Carlos Slim, Mexico's cellphone magnate worth some $73bn, but Rinehart's 100%-owned Hancock Prospecting has massive iron ore and coal projects that will start producing by 2014 and earn her annual profits of as much as $10bn.

China’s massive appetite for commodities sparks concern

China’s massive appetite for commodities is creating concerns for the global economy, the environment and workers in other countries. In a series of reports, VOA is looking at the economic power modern China wields. Chinese government and company officials are signing agreements at a dizzying pace around the world, including in places where few other foreigners invest.

Rio Tinto happy with Australian project budgets

Rio Tinto is comfortable with the company's multibillion-dollar project budgets in Australia, where labour, input and services costs were all increasing, Chief Executive Tom Albanese said on Tuesday. "I'm comfortable that our budgets in Australia are being managed appropriately," Albanese said at a business lunch.

Murchison in talks for funding help on Australia iron ore port

The proposed Oakajee iron ore port and rail project in Australia, which last week faced the loss of a key customer, may have hit another snag, with one the two developers saying it was having problems raising funding. Murchison Metals , a 50:50 partner in the multi-billion dollar Oakajee (OPR) project, said on Monday it was now in talks with several parties, including Chinese-related investors, interested in participating in its development.

Australia's carbon tax debate ongoing

Controversy over Australia's carbon tax plan has heated up after Prime Minister Julia Gillard promised extra compensation for the country's lowest income households to offset energy price rises resulting from the proposed scheme.

Tata Steel to use Riversdale cash to fund India capacity expansion

Tata Steel Ltd will use the $1.12 billion ('5,030 crore) it earned from the sale of its 26.3% stake in Australia's Riversdale Mining Ltd to fund the expansion of its steel-making capacity in Jamshedpur and Kalinganagar, as well as mining operations and capital expenditure in its European operations.

Murchison in talks for Australia iron ore port funding

The proposed Oakajee iron ore port and rail project in Australia, which last week faced the loss of a key customer, may have hit another snag, with one the two developers saying it was having problems raising funding.

Minerals Technologies’ Ferrotron unit announces revolutionary new laser-scanning technology for use in worldwide steel industry

Minerals Technologies announced today that its Ferrotron Division of subsidiary Minteq International Inc., has released the LaCam-Torpedo measuring system, a revolutionary way to measure refractory lining thickness in hot torpedo ladles.

The wandering workforce: why FIFO is the best model for our mining sector

One of the most debated issues in regional Australia today is the mining industry practice of fly-in-fly-out operations. It is a particularly interesting issue in Western Australia because there was a time in the 1960s and '70s when townships were developed by the mining companies to support the expansion of the mining sector in the north of the state.

Why investors shouldn't ignore the steel industry

While most investors are focused on precious metals, I prefer to look for investment opportunities in markets less traveled. Sure, precious metals are still wildly popular – or not popular enough, depending on who you ask.

Chinese miners plunge as reverse-listing contagion spreads

Iron, zinc and coal miner China Natural Resources shed 20% of its value on the Nasdaq stock exchange in morning trade on Monday in the absence of any fresh news about its operations while China Shen Zou Mining lost over 8%, the worst performers in the sector. Investors are continuing to worry about the soundness of Chinese companies that came to the US market through so-called reverse listings with the value of the 98 companies declining sharply in recent weeks as creative accounting and other irregularities are uncovered at firms engaging in operations as diverse as software and timber.

Jupiter starts WA magnetite study, S Africa project 'on track'

ASX-listed explorer Jupiter Mines has started a feasibility study on its A$1.6-billion Mount Ida magnetite project, in Western Australia, the company said on Monday. The feasibility study would be based on production of ten-million tons of magnetite concentrate a year, grading 68% iron.

New dust suppression products for the mines

aimex-tecpro.jpg Tecpro Australia will unveil innovative new dust suppression products for the mining industry on Stand R176 during AIMEX - Asia-Pacific’s mining exhibition 2011, to be held at Sydney Olympic Park, Homebush, from September 6-9. On show for the first time in Australia will be the Elefante and Giraffa fog makers from Italian company Idrotech. They [...]

New ferrochrome pelletising and sintering plant for Rustenburg

The Zest WEG Group, including EnI Electrical, Shaw Controls and IMS Cape, has been awarded a contract by RB Met, a joint venture between Royal Bafokeng Holdings and Metix, to supply a complete electrical solution for a 600,000 t/y Outotec SBSTM ferrochrome pelletising and sintering plant in Rustenburg, South Africa. The plant is being constructed for the Xstrata Merafe Pooling and Sharing Venture (PSV). Construction on this energy efficient greenfields plant started on April 21, 2011.

The Australian: Rio Tinto racing ahead at Simandou project in West Africa

Rio Tinto's $US10 billion-plus Simandou iron ore project in Guinea is rapidly pressing ahead, but not like a typical giant development by the Anglo-Australian mining giant. By the end of the year, Rio is expected to have spent close to $US2bn ($1.9bn) on Simandou, including a $US700 million settlement payment to the government, and to begin construction of a project it has committed to produce from in 2015.

Gina Rinehart and Angela Bennett suing Rio Tinto for $136m

Two of the world's richest women are seeking another $136 million by suing Rio Tinto. According to a story in The Daily Telegraph, Gina Reinhart and Angela Bennett, who are heirs to the Hancock and Wright iron ore fortunes, are suing mining giant Rio Tinto over the rights to iron ore beneath as much as 150 square kilometres of the Pilbara iron ore region of Western Australia: The lawsuit in the NSW Supreme Court is seeking an estimated $136 million in past royalties dating back two decades. If successful, the legal bid could also reap the descendants of Hancock and Wright a further $25 million each year in royalties, even assuming the iron ore price halves by 2016.

Eight killed as iron ore mine collapses in China

Eight miners were killed and five others injured after an iron ore mine collapsed due to a landslide in east China's Fujian Province, officials said Saturday.

Sinosteel decision won't impact Padbury mining project development

Sinosteel Midwest Corporation's decision to suspend development of its $2B Weld Range project is understandable given the uncertainty around the Oakajee Port and Rail Development, Padbury Mining Ltd (ASX:PDY, The Company') Managing Director Gary Stokes