Iron Ore Mining News

Outotec more than doubles H1 operating profit

Finnish mineral processing company Outotec more than doubled its profits for the first half of 2011.

No unanimity on the issue of ceiling on iron ore

Tags: Goa, Digambar Kamat Panaji: Policy makers and environmentalists are gradually moving towards a consensus that there should be ceiling on the iron ore tapped from Goa's soil. Goa government, by and large, has not taken any stand in this matter.

Albania miners' underground hunger strike enters day three

Balkan Insight reports that thirty miners have fasted for the last three days in a gallery 1,400m below the surface and 260m below sea level inside the chromium mine in the town Bulqiza, Albania. The hunger strike is an escalation of a three-week shutdown, as roughly 700 miners press Albanian Chrome, the largest employer in the country, to meet their requests of a 20% wage hike. The Bulqiza chromium deposit has been continuously mined since 1948. The Balkan state has the lowest GDP per capita in Europe.

Vale to invest more than USD 6 billion on port and rail expansion

Iron ore miner Vale announced plans to invest more than USD 6 billion in expanding its port, railway and potash production capacity to keep up with booming demand for raw materials in Brazil such as fertilizer, sugar and grains.

Anglo American CEO interviewed on half-year results

Anglo American, one of the world's largest miners, today reported strong first half growth with operating profit ahead 40% to $6bn. Chief Executive Cynthia Carroll said that investments made during the downturn would stand them in good stead in the near-term future. "We believe that the fundamentals for the mining industry are very, very strong, and therefore the longer-term outlook is extremely positive." Image by shizhao

Scandinavian reports big iron ore jump

Perth-based Scandinavian Resources has announced a dramatic jump in its Swedish iron ore resource from 200-250 million tonnes to 412.1 million tonnes.The company's shares shot up by four cents on the ASX, or 10 per cent, on the news to close on Friday at

Fortescue looks to court over MRRT

Emerging miners and even some states could launch legal action to fight the Mineral Resource Rent Tax, Fortescue Metals Group executive director Andrew Forrest says.The West Australian iron ore miner said the MRRT was unconstitutional because it would

Murchison posts better iron ore production

After a horror few months for Murchison Metals, the Pilbara iron ore miner has at least posted positive production and shipping results. Murchison was forced to admit last month it didn't have the funds for the $5.94 billion stalled Oakajee port and rail

CP: Palladon says mining partner CML completes $45-million loan for Utah mine

Palladon Ventures (TSXV:PLL) says mining partner CML Holdings has closed the second tranche of its $45-million loan to advance efforts to extract iron ore from the Iron Mountain project in Utah.

Rev up for resources boom in China

Last week I sat down with Laura Mandaro from Marketwatch to discuss what’s currently driving commodity markets. One of the key drivers today is the robust economic activity and commodity demand taking place in Asia.

NMDC to open new iron ore mine in Chhattisgarh

NMDC Ltd, India's largest iron ore producer and exporter in the public sector, said on Thursday it plans to open a new iron ore mine in Chhattisgarh.

Brazil Q2 Vale iron output rises 6 pct yr/yr

Brazilian mining giant Vale (VALE5.SA) said on Thursday iron ore output rose 6 percent from the year before as the company boosted production at most of its mines in Brazil.

African Iron Limited appoints new Chief Executive Officer

Simon Youds appointed as Chief Executive Officer.Mr Youds is currently Managing Director Australia of unlisted, manganese and chromite producer, Consolidated Minerals Limited.

Mining corruption pulls down chief minister of Karnataka

The Bharatiya Janata Party, one of India's largest political parties, forced the resignation on Thursday of B. S. Yeddyurappa, the chief minister of Karnataka. Yeddyurappa was indicted on Wednesday after an investigation found that he had received kickbacks from mine owners in his district.

Prosperity Minerals secures 4 mln tonnes of iron ore through off-take agreement

Prosperity Minerals (LON:PMHL) says it has now secured 4 million tonnes of iron ore through a deal with Blackrock Metals of Canada. The firm has exercised its option under the offtake agreement, struck previously with Blackrock for 800,000 tonnes of ore,

Iron ore production not keeping up with steel: Reuters

The world's steel mills are churning out crude steel at a rapid pace, say the latest numbers from the World Steel Association.

Ausdrill contract win to generate A$75 million over three years in Fortescue’s iron ore and it goes underground

Ausdrill has received a Letter of Intent from Fortescue Metals Group for the award of a mining services contract at Fortescue’s Solomon iron ore project, located in the Pilbara region of Western Australia.

Company secures significant slurry pipeline licence

Brazilian iron-ore mining company Ferrous Resources has been awarded the preliminary licence (PL) for its 400 km slurry pipeline.

First Point Minerals is making rapid headway in Canada with its work on naturally occurring nickel-iron alloys

What, pray, is a nickel-iron alloy ore? That’s a question that holds no mystery to the management and shareholders of First Point Minerals, which has just identified its first drill-ready nickel-iron alloy target on the Klow project in central British Columbia.

Fear beginning to replace greed as mining boom gets long in the tooth

Despite a flurry of mergers and acquisitions and a robust IPO market reports out on Wednesday suggest that fear is slowly replacing greed in the mining finance business. The Financial Post reports for investment bankers, the low-hanging fruit is long gone and the biggest financings are now high-risk: gold juniors in Africa, coal in Colombia and an infamous Quebec lithium play that overstated its resource. Global Mining Finance's July round-up says untrustworthy financial and resource reporting, threats of new royalty regimes, "super-profit" and carbon taxes, political turmoil, strikes and government takeovers are worrying resource investors all around the world.

Amsa still assessing new iron ore project

ArcelorMittal South Africa (Amsa) is on target to complete the due diligence being carried out on a potential new iron ore mine in the Northern Cape by September. Amsa CEO Nonkululeko Nyembezi-Heita told investors at a presentation of the group’s interim results for the six months to end-June in Sandton on Wednesday that once the due diligence was completed further drilling would be carried out and a feasibility study undertaken.

Afferro Mining Inc. – shareholding update – Capital Research And Management Company

Afferro Mining Inc. ("Afferro" or the "Company"), the TSX-V / AIM (AFF) listed exploration and development company with iron ore projects in Cameroon and Liberia, was notified that on July 25, 2011 that as of July 22, 2011 Capital Research and Management Company ("CRMC") held a total of 6,139,111 common shares in the Company which represents approximately 5.92% of the total voting rights of the Company.

India to be 2nd largest steel producer by 2013

Shri Beni Prasad Verma, Union Minister for Steel, said that India will become the world's second largest producer of steel by 2013.

New $1.5 billion nickel mine can start dumping waste in PNG ocean

Australia's Highlands Pacific and China Metallurgical Group can now power on their $1.5 billion Ramu nickel project in Papua New Guinea after a judge threw out the environmental challenge to the project's planned deep-sea disposal of tailings after an 18-month legal battle. Ramu is situated on Papua New Guinea's north-west coast and is completely built – annual production is estimated at more than 31,000 tonnes of nickel and 3,300 tonnes of cobalt for over 20 years.

Indian iron ore mining mess – Drop three ministers over illegal mining

An NGO waging a battle against illegal mining asked Karnataka chief minister Mr BS Yeddyurappa to drop three ministers of Bellary including tourism minister Mr G Janardhana Reddy from the ministry alleging that their involvement in illegal mining 'has