Iron Ore Mining News

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

Iron ore Holdings: resource upgrade and positive metallurgical results at Iron Valley project

Results of additional drilling Iron Ore Holdings announces the following updated information on the company's Iron Valley Project. Iron Valley is one of IOH's largest identified bedded iron deposits.

Gindalbie statement on Oakajee port

A statement by Mr Tim Netscher, the Managing Director of Gindalbie Metals Limited (ASX: GBG - "Gindalbie") regarding Oakajee Port. "The Karara Iron Ore Project is investing more than $200 million on infrastructure at Geraldton Port.

'US economy could be one of the big surprises in H2' 2011 – SocGen

In its latest Quarterly Commodities Review, Société Générale takes the view that , at a "time of significant doubt for the outlook for the global economy" the recovery is sustainable and the bank is looking for a stronger second half-year. Headwinds persist, however, and the recovery in the advanced economies is likely to remain relatively sluggish.

allmineral booms in iron ore: contracts still rolling in from Australia

allmineral has been awarded three independent contracts to supply its mineral processing products and equipment to the Rio Tinto Low Grade Iron Ore Pilot Plant. The pilot plant, which will be located at the Brockman 4 mine site in Western Australia,60km north west of Tom Price, will play a strategic part in the optimisation of beneficiation options for future Pilbara lower grade deposits.

allmineral booms in iron ore: contracts still rolling in from Australia

allmineral has been awarded three independent contracts to supply its mineral processing products and equipment to the Rio Tinto Low Grade Iron Ore Pilot Plant.  The pilot plant, which will be located at the Brockman 4 mine site in Western Australia, 60km north west of Tom Price, will play a strategic part in the optimisation of beneficiation options for future Pilbara lower grade deposits.

Kalia magnetite tonnage increases by 71%

A drilling program at Bellzone Mining plc’s (AIM:BZM) Kalia Mine in the Republic of Guinea, West Africa, has indicated a 71% increase in the company’s estimate of the magnetite tonnage available from 3.74 billion tonnes to 6.4 billion tonnes, placing Kalia amongst the largest iron ore deposits of its kind in the world. An 18,000m diamond drilling infill program commenced in Q3 2010 to increase the existing 690 million tonne measured and indicated component of the 3.74 billion tonne magnetite JORC resource. The company is pleased to announce that the work is proceeding to schedule and the programme is on track to deliver an increased M&I JORC magnetite resource in Q3 2011.

Commodities fall most in seven weeks

Bloomberg reports that commodities dropped the most in seven weeks after the International Energy Agency announced plans to release emergency oil supplies.Gold for August delivery fell 2.4 percent to $1,516.60 an ounce, the first drop in eight sessions, and palladium for immediate delivery declined 2.2 percent to $747.25 an ounce.

China sticks to ban on favourable power tariffs for energy-intensive sectors

China's top economic planner on Thursday reiterated a ban on favourable power tariffs for power-intensive sectors as the world's second-largest electricity consumer struggles to deal with its worst power crisis in seven years. Last year, the National Development and Reform Commission (NDRC) asked local governments and power suppliers to cancel favourable power prices for aluminium, ferroalloy and calcium carbide makers, and said preferential power rates for direct trade between power generators and power users but without approval must be halted.

Cap-Ex Ventures: airborne identifies high priority DSO targets at Lac Connelly

Cap-Ex Ventures announced it has received and interpreted the preliminary data from the recently completed Airborne FALCON Gravity Gradiometer and High Sensitivity Magnetometer survey, conducted by Fugro Airborne Surveys Corp. The survey was conducted over the Company's wholly owned Lac Connelly property located in the Labrador Trough.

Iron Road Limited (ASX:IRD) Raises A$21M to Advance Central Eyre

Iron Road Limited (ASX:IRD) is pleased to announce it has successfully raised A$21.6 million to further advance the Central Eyre Iron Project following the recently completed positive prefeasibility study. "The funds raised today will allow us to continue our aggressive resource drilling campaign and deliver additional large tonnages into the project. We are currently drilling the Murphy South western extension and PIRSA have this week approved drilling over the Murphy South eastern extension. This work will further enhance our position as we continue our partnership discussions.

Central Iron Ore Limited: AUD$15 Million Perinvale North Iron Ore Hub Farm in and Joint Venture

Central Iron Ore Ltd. (the "Company" or "CIO") is pleased to announce that it has, through its subsidiary Central West Resources Pty Ltd, entered into a farm in and joint venture agreement with the Australian Stock Exchange listed Pacific Ore Limited (ASX:PSF) ("Pacific") in respect of CIO's Perinvale North Iron Ore Hub ("Perinvale North Hub") for AUD$15 million ("Joint Venture"). The Perinvale North Hub consists of Exploration Licence 57/818 covering an area of 120km² and is located approximately 550km North East of Perth, Western Australia in the Yilgarn Iron Ore Province ("YIOP").

Iron ore mine plans on hold in northern Wisconsin

The company looking to build a $1.5 billion iron ore mine in northern Wisconsin has stopped the project until state lawmakers agree on a new set of rules for reviewing such projects. State Sen. Robert […]

Vale reroutes world's biggest dry-bulk carrier bound for China to Italy

Brazilian mining giant Vale said on Tuesday it rerouted 391,000 tonnes of iron ore, its first cargo aboard a new class of giant bulk carriers, to Italy from its original destination of China. The cargo is being shipped aboard the Vale Brasil, the world's largest dry-bulk vessel, a ship designed to reduce the cost of shipping the main steel ingredient to China. Despite the rerouting Vale said the so-called Valemax carriers will be able to enter three Chinese ports.

Flinders Mines drilling moves Pilbara Iron Ore Project closer to Measured Resource

Flinders Mines is making strong progress with its drilling program at the Pilbara Iron Ore Project in Western Australia, with over 50 kilometres of drilling completed since the previous resource update. The drilling during 2011 has been carried out on schedule and on budget and is due for completion in mid-July 2011.

Iron ore miner battles with Brazil project amid takeover talk

Dow Jones reports a Khazakhstan mining and metals group says it's forging ahead with plans to build a $2 billion iron ore mine in northeast Brazil despite major logistical and environmental obstacles, while speculation about a takeover-bid swirls. The Pedra de Ferro iron ore project is already four years behind schedule, and the company may miss the 2014 start-up date as it is still waiting for environmental licenses to build a port from which to ship the iron ore, and for Brazil's federal government to build a railroad.

Australia trims outlook for iron-ore exports

Marketwatch reports Australia's government commodities forecaster Tuesday trimmed its projections for iron ore and coking coal exports over the coming financial year, and forecast prices for both raw steelmaking ingredients will continue to ease from highs as global supplies increase.