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.
Iron Ore Mining News
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.
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.
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 [...]
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.
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.
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 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 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
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.
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.
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 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 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.
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.
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'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 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) 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 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").
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 […]
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 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.
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.
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.